It’s free to onboard and access EstImage Pay

The simple fees are:

Initial service fee: $40 or 1.75% of the invoice amount

Dishonour fee: $10 per dishonoured direct debit transaction

You only pay for the time it takes for the insurer to pay your invoice. The service fee charged on each invoice covers you for up to 90 days and is calculated as the greater of $40 or 1.75% of the invoice amount.

If your invoice remains unpaid 90 days after being issued, FlipMoney will auto-debit your account for the full invoice amount and close that individual agreement. FlipMoney will forward to you any payment received by the insurer after this date.

You can repay the agreement at any time, or contact FlipMoney directly to arrange alternative repayment terms on any specific agreement.

Example

Bob runs Awesome Smash Repairs Pty Ltd, and wants to utilise EstImage Pay to better manage his cashflow.

Invoice paid within 90 days

Bob does a job for Great Insurer Pty Ltd and requests EstImage Pay on his $5,000 invoice. The invoice is paid 3 weeks later.

Invoice amount: $5,000

Service fee payable: 1.75% of $5,000 = $87.50

Bob receives $4,912.50

Insurer pays $5,000 in 3 weeks, completing Bob’s agreement

Bob does another job for Great Insurer Pty Ltd and requests EstImage Pay on his $900 invoice. The invoice is also paid 3 weeks later.

Invoice amount: $900

Service fee payable: $40 minimum fee applied

Bob receives $860

Insurer pays $900 in 3 weeks, completing Bob’s agreement

Invoice not paid

Bob does another job for Great Insurer Pty Ltd, for $5,000 and finances this invoice via EstImage Pay too. This invoice is paid 4 months later.

Invoice amount: $5,000

Service fee payable: 1.75% of $5,000 = $87.50

Bob receives $4,912.50

90 days later, invoice remains unpaid and FlipMoney auto-debits Bob’s account

Bob pays $5,000

Insurer pays $5,000 in 4 months, which FlipMoney transfers directly to Bob

When onboarded, your account will be assigned a credit limit based on your annual turnover and other factors and will be communicated to you up front.

EstImage Pay will typically accept individual invoices from $1 to $100,000, with higher amounts accepted on confirmation with our partner, FlipMoney.

Your credit limit can be increased if your business requires this level of support (subject to credit assessment). Contact our partner, FlipMoney directly to update your account at any time.

Example

Bob runs Awesome Smash Repairs Pty Ltd, and uses EstImage Pay to better manage his cashflow.

Credit limit

Bob’s turnover and other business information means that his account has a credit limit of $250,000 – he can finance any number of invoices as long as the total balance of his financed invoices remains under $250,000.

If Bob needs to finance a request that will take him over the $250,000 limit, as a one-off occurrence, he can make the request via EstImage Pay, our partner, FlipMoney will contact him directly to discuss before processing the request.

If he is regularly needing more than $250,000, Bob can contact our partner, FlipMoney to request an increase in this limit, avoiding the manual check-in on each invoice above $250,000 that he currently experiences.

One-off large invoice

Bob typically sends invoices for values under $100,000, but as a one off needs to finance an invoice of $140,000. He can contact us on 1300 354 766 or via email, support@flipmoney.com.au to discuss before processing the request.

Regular large invoices

Bob’s business has grown, he’s now regularly sending invoices valued over $100,00 and requires EstImage Pay on several of them each month.

Bob contacts our partner, FlipMoney to provide updated information on his business’ performance - our partner, FlipMoney confirms an increased credit limit and that his regular invoices up to $150,000 will not require a check-in.

Our partner, FlipMoney will transfer funds to your account on the same day your invoice is approved by the insurer. If your bank supports real-time payments, you can receive the funds instantly, otherwise it may take 1-3 days to receive funds.

Eligible invoices must:

· Be a valid Australian tax invoice

· Be issued to an established insurance company operating in Australia

· Show the issue date and due date and a unique reference (claim number, invoice number, contract number, purchase order etc)

· Offer payment terms of up to 90 days

· Include the virtual account allocated to you by our partner, FlipMoney

Every business needs to manage its cashflow tightly. Whether it’s normal bills, salaries, supplier invoices or other larger purchases – most businesses will experience periods where “cash out” is greater than “cash in'' and some sort of credit/finance solution is used.

EstImage Pay turns your unpaid invoices into immediate cash, keeping your cashflow funding closely aligned to your future income, for low manageable fees.

The facility operates separately to any existing business loan or overdraft facility you may have in place and is optional to request on all or selected individual invoices – it’s entirely in your control.

Example

Bob runs Awesome Smash Repairs Pty Ltd, and uses EstImage Pay to better manage his cashflow.

No EstImage Pay

Bob does a job for Great Insurer Pty Ltd and sends his invoice for $5,000.

Bob knows Great Insurer typically pay on 28 day terms, and waits for that payment.

Other expenses he needs to cover between now and then are either paid via his business credit card, or overdraft, or otherwise paid late – all incurring further costs.

With EstImage Pay

Bob does a job for Great Insurer Pty Ltd and sends his invoice for $5,000.

Bob needs the cash today but knows Great Insurer typically pay on 28 day terms, so he requests EstImage Pay on the invoice, and receives $4,900 today.

With that cash, he is able to pay other supplier invoices on time (receiving a discount for doing so) and keep his credit card up to date (avoiding increasing interest payments). Bob’s credit/finance facility via EstImage Pay is linked to his invoices, so he knows he won’t borrow more than his business can afford.

EstImage Pay is available for EstImage Online repairers. You’ll also need to meet the following basic criteria:

1. Be an Australian company (PTY LTD, no sole traders) with an ACN and ABN

2. Be operating for at least 6 months

3. Be able to show over $100,000 in annual revenue

4. Be able to provide your latest two (2) business activity statements (BAS)

5. Be able to provide bank statements showing your latest 6 months of transactions

6. Be a director of the company

Our partner, FlipMoney may contact you for further information, but will typically approve accounts within 1 business day.