If Marmalade is unable to reconcile a payment we will schedule this to be automatically passed back to you (passback).
We will still let you know that the payment has been received, however, the functionality to have payment visibility in the product will be available soon at which point these notifications from our team will cease.
Will all payments be passed back:
We have invested heavily into our technology and processes to reconcile your payments resulting in almost all payments received being processed within 1 business day. We are continuing to remain focused on improving our reconciliation capabilities and expect our turnaround times with processing payments to continue to improve.
How long will it take for the funds to be passed back:
If a payment does happen to not get processed by our system the turnaround times will be:
- 16 business hours from the time the payment was received into our account to be scheduled into the next payment run (paid out)
- The time taken for the payment to reach your bank account from the time it was paid out is generally around 6 hours
What if I want the funds quicker:
Passbacks exist to ensure we get funds that are owed to you back to you, however, Marmalade's offering does rely on payments being reconciled to invoices. If you need the payment earlier please follow the standard process of advising our team how the payment needs to be reconciled by sending either of the following information to accounts@withmarmalade.com:
- A copy of the remittance from the customer, confirming what invoice(s) the payment was for
- Confirmation of what invoice(s) the payment should be reconciled to
Once received our team will reconcile the payment for you and have it scheduled to be paid out.
How do I reconcile a passback:
Unlike a standard payment processed by Marmalade, a passback won't be reconciled to any invoice(s) when it reaches you. You will need to determine what invoice(s) this is for and reconcile it in your accounting platform.
Will this effect my eligibility and cash-in limit:
Historically any funds you reconciled to an invoice in your accounting platform would have had a negative impact on your eligibility and cash-in limit. Passbacks, however, will not affect this as we can now track that these funds have come through Marmalade.
What if the invoice the payment is for has been cashed-in:
There is a chance that we may pay you twice as a result of the passback process, you will not be able to reconcile the payment and will need to return the funds to Marmalade. We have made this easy for you and you can simply notify our team at support@withmarmalade.com.
Once we've been notified we will create a liability that will be cleared by your next cash-in or customer payment and create a corrective invoice to reconcile the payment we passed back to you to.
Note: Both the corrective invoice and the payment back to Marmalade will be reconciled to the Marmalade clearing account to help manage any reconciliation complexity for you.
Will all payments be passed back if you can't reconcile them:
While we want to be able to passback everything that we can't reconcile, unfortunately this isn't always possible and payments received directly to our account and not through your Virtual Bank Account (BSB starting 802) or payments that are significantly large in value won't be able to be passed back automatically. Our accounts team will continue to work with you to get these payments processed as quickly as possible.
Can I opt out of automated passbacks:
Yes. If you'd like to not have this functionality turned on, simply contact our team at support@withmarmalde.com and we'll ensure this functionality is turned off