Do you find yourself taking charge of paying the bill on an evening out, to split it amongst the group later? Only that later comes with excuses like “I don’t have enough cash on me at the moment” or “I’ll get you next time” and of course who can keep track of all the IOU’s. With the payment request feature by Timo, you can immediately send collection reminders to your friends. Here are some ways you can use Timo’s payment request feature.
Benefits of Timo’s Payment request
Payment request is a very handy feature that was introduced by Timo and is the first bank that has this feature. We always are in need for cash, whether for day to day needs like paying utility bills, phone top up or for savings, investing in business and even loaning to friends. Whenever you need to remind your friends to pay your bills, or to remind your customers to pay for their purchases, they are a little “shy” because asking for money owed is always a delicate issue. The best way to do this is with certain messages that won’t offend your Friends. That’s where Timo’s payment request reminder comes to the rescue.
How to use this feature:
To use this feature, you must fulfill the following conditions:
- You must be a Timo member (Have received your Timo Debit card and use the Timo app).
- The person you want to remind is also a Timo member (as this feature is only available on the Timo app).
Try it now:
- First, Sign into the Timo App
- Choose PAYMENT at the bottom of the screen
- Select PAYMENT REQUEST and follow these steps
- Hit the + sign,
- Add a new Timo Payee or choose from a existing Payee
- You will see two sections: “OUTSTANDING” and “COMPLETED”.
- OUTSTANDING is the payment request from the friend for you
- COMPLETED is the section showing successful transactions after you’ve debuted
- If you have a PAYMENT REQUEST reminder notice, and click it, there are two options for you: “PAY NOW” and “DELETE REQUEST”.
- If you choose to PAY NOW, Timo will your Spend Account and will be transferred immediately to the Timo account of the receiver.