M-Powered Payments Frequently Asked Questions
Which bank do I need to have an account with in order to use M-Powered Payments?
At MYOB we are committed to making this service available to all MYOB customers irrespective of the financial institution that you bank with. That's why we are currently endeavouring to engage all of the major Australian financial institutions to make this service available to our customers.
How do I apply for M-Powered payments?
You can apply on-line or call our M-Powered Services Support Team on 1300 555 931 for assistance with your application.
What happens once I have submitted an application?
When your application to use MYOB M-Powered Payments is accepted, you'll be provided with a Welcome Kit with all you need to get up and running.
In addition, if you're subscribed to a current MYOB support plan, you can access MYOB Technical Support via phone, fax or email. You will also have access to the dedicated MYOB M-Powered Services support team.
How will I be charged for using MYOB M-Powered payments?
At the beginning of each month, MYOB will debit your nominated business bank account for the fees payable for the previous calendar month.
MYOB will also provide you with a Monthly Statement summarising all the electronic payments that have been processed using M-Powered payments during the month, together with a breakdown of the related fees.
Which MYOB software do I need to have to be able to use M-Powered Payments?
MYOB EXO Business
View compatibility with MYOB software.
When I send an M-Powered Payment, how long will it take for the funds to arrive in my supplier/employee's bank account?
You can send M-Powered Payments any time of the day or night. M-Powered Payments received by MYOB before banking cut-off times on a business day will be processed to your suppliers and employees bank accounts overnight.
M-Powered Payments received by MYOB after banking cut-off times, on weekends or Australia-wide public holidays will be processed overnight on the next business day.