What are the fees for using Mimo Flex?
Mimo Flex fees vary based on factors such as the duration of the payment extension and your company’s financial profile. Fees are set individually and applied as a fixed, one-time charge added to the extended invoice amount.
When are fees charged?
Fees are charged 3–5 business days after Mimo Flex is used to settle a supplier invoice. If multiple invoices are paid on the same day, the fees are grouped and charged together.
How is Mimo Flex repaid?
Your Mimo Flex balance is automatically repaid via Direct Debit on the due date. You’ll be prompted to set up Direct Debit before Flex is activated. If your bank account changes, please let us know so a new mandate can be arranged via GoCardless.
Can I repay before the due date?
Yes, you can repay your Flex balance early by making a direct transfer to the bank account shown on your Flex Statement. Please include the correct reference. For quicker processing, contact us here.
Where can I view upcoming charges?
To view upcoming repayments and fees, go to Accounts > Flex > Statements in the app. Click on a statement to see a detailed breakdown of each charge.