What Is a Negative Account Balance?
Negative Account balance is when the Partner owes money to noon due to a negative statement i.e. the money from sales (net of adjustments) is lower than fees due to noon. Partners will be intimated of the negative account balance via an email from noon, and the same can also be viewed on the home page of the Restaurant management portal.
What Must Sellers Do In Case Of A Negative Account Balance?
Partners must take immediate action to clear any negative account balance within not more than 30 days of the date on which the account balance turned negative. Partners must transfer the requisite amount into Noon’s bank account, details of which are mentioned below.
Noon UAE Bank Details
Beneficiary Name : Noon Food LLC
IBAN : AE070330000019000064858
Account Number: 19000064858
Bank Name: Mashreqbank
Currency: AED
Swift Code: BOMLAEADXXX
Noon KSA Bank Details
Beneficiary Name : ARABIAN MARKET PLACE TRADING
IBAN : SA8845000000003768884001
Account Number: 003-768884-001
Bank Name: The Saudi Awwal Bank
Currency : SAR
Swift Code : SABBSARI