Community Tier House Account Transaction Flow

Using MMM’s community tier house account relieves the club from having to maintain their own member balances with the associated controls and management overheads this entails. From a member’s perspective, it allows them to have one credit balance for use with multiple MMM clubs they engage with.

 

This arrangement is recommended for clubs that do not require our integration with Eposnow for the purposes of bar management. If the club has a bar and intends to implement our Eposnow integrated till, giving members the ability to purchase drinks/food on account, then the club will need our more advanced set-up that involves the club taking responsibility (and liability) for member balances. In this case, Eposnow presents a highly useful integrated sales ledger for MMM and non-MMM related sales.

 

The transfer of funds from MMM's Stripe to the Club's Stripe (point 2.3 in the diagram in yellow) is delayed by 3 business days to allow for member credits to settle into our account. Payments are made at the start of the day following the 3 business days. So member fees charged on a Tuesday are received into the club's Stripe account on Saturday morning. Member fees charged on a Wednesday are received into the club's Stripe account on Tuesday morning.

 

MMM’s Client bank account always maintains a positive balance that covers the full liability we take on with our users. At each month end, we perform a full reconciliation process that transfers funds identified as member balances to our ring fenced MMM Client Bank Account.