Marmalade is first and foremost an invoice payments platform, improving how businesses get paid.
By processing your businesses payments Marmalade is able to offer the ability to receive early payment on invoices with no Security registered over your business* and no Personal Guarantees**.
The Virtual Bank Account ('VBA'):
To facilitate your payments, Marmalade will create a VBA in the name of your business with payments received into this account held on trust for you.
Complete Visibility:
Once a transaction clears into the VBA account it will be instantly appear in the 'Payments Page' of the Marmalade Dashboard, ensuring that you have complete visibility of all of your payments
Reconciliation Managed for you:
In most cases Marmalade will automatically reconcile payments received into the VBA in real-time. All you will need to do is complete the bank reconciliation in your accounting platform which should automatically link to the payments reconciled by Marmalade.
If Marmalade can't reconcile a particular payment automatically we may require further details which can be sent to us using the below email addresses:
- Send a PDF Remittance - Send to accounts@withmarmalade.com
- Send details on the invoices for matching - Send to support@withmarmalade.com
Real Time Payments:
In most cases once a payment is reconciled the funds will be transferred to you in real-time via the Osko payments system ensuring minimal to no delays when using Marmalade's service.
No Cost:
We understand that changing bank account details is not a decision to be taken lightly. That's why Marmalade's VBAs and reconciliation capabilities are provided to all of our suppliers free of charge ensuring you get all of the benefits with no risk.
More Details:
For more details on how Marmalade manages customer payments payments refer to our article here.
* Marmalade does not register any floating securities over your business, we do, however, have to register our interests in invoices assigned to Marmalade but this should not impact your ability to obtain other forms of business finance unless this is required to be secured by your open invoices.
** Marmalade does not require personal guarantees as standard. We do reserve the right to request guarantees in certain circumstances where your business or its processes exceed our risk thresholds.