Credicorp disburses funds only to a verified UK business bank account held in your company's name. If you change your business bank account — for example, switching from one bank to another or opening a new account — you must update and re-verify your details before your next drawdown.
How to submit a bank account change
- Log in and go to Account > Banking Details > Update Bank Account.
- Enter the new sort code and account number.
- Upload a recent bank statement (dated within the last 90 days) showing your company name, sort code, and account number. A PDF downloaded from your online banking is acceptable.
- Confirm the change. You will receive an email acknowledging the request.
What happens during verification
Our operations team checks that the account is a UK business account held in the same company name as your Credicorp account. If the names differ — for example, due to a trading name — include a covering note explaining the relationship. Verification typically completes within one working day. Until verification is confirmed, any pending drawdown will be held; repayments can still be made from either account during this period.
If you need an urgent drawdown
If you have an active Flex facility and an urgent drawdown need while the new details are being verified, contact support to discuss options. We cannot override the verification step, but we can prioritise the review if you notify us promptly.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: How do I update my company details in my Credicorp account?, How do I add or remove a user on my Credicorp account?.