Payments

Arrears describes the state of an account when one or more payments that were due have not been made. If a scheduled collection on your Credicorp Flex or Slice facility does not succeed and the amount is not paid by another means, your account is said to be in arrears until it is brought up to date.

What it means in practice

• The overdue amount is owed in addition to your normal upcoming payments.
• Your account is treated as not up to date with us.
• Charges may apply as set out in your agreement, and the position can affect future borrowing decisions.

How to clear arrears

You clear arrears by paying the overdue amount — by bank transfer with your statement reference, by card where supported, or through an agreed arrangement with us. Once the account is back up to date it is no longer in arrears.

Related point

Because Credicorp lends only to companies and takes no personal guarantees from directors, arrears sit with the company rather than with directors personally. Even so, they are worth avoiding: contacting us before a payment fails is almost always better than letting an account fall into arrears. As an exempt business lender we are outside the FCA consumer-credit regime, so consumer protections such as the Financial Ombudsman Service do not apply.

See also: What happens if my company misses a payment?, What payment methods can my company use?, Settlement figure (glossary).

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If your Credicorp payment falls at an awkward point in your company's cash-flow cycle, for example just before customer invoices typically settle, you may be able to move it to a date that works better. Aligning the payment with when money reliably arrives makes collections far smoother.

How to request a new date

• Sign in to your account portal or contact your account team.
• Tell us the new date you would like each month.
• Give us enough notice before the next collection so the change can take effect in time.

What to keep in mind

Moving the date can occasionally change the gap between one payment and the next, which may slightly affect interest accrued under your agreement for that period. We will explain any effect before confirming. If you have an active Direct Debit, we update the instruction so collections move to the new date automatically.

Timing the request

Requests made close to a collection date may not take effect until the following payment. To avoid a payment being taken on the old date, ask in good time and we will confirm when the new date starts.

Credicorp lends only to UK limited companies and LLPs for business purposes, outside the FCA consumer-credit regime.

See also: Can I change my repayment date?, Can I change the date my payment is taken? and Warning signs your company may be heading for payment trouble.

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Yes — if your usual due date does not line up with when money reliably lands in your business account, you can ask us to move it. Many companies prefer a date a few days after their main customer receipts or invoice settlement run.

How to request a change

• Contact our support team through your online account or by phone before the next collection is due.
• Tell us the new date that works for your cash-flow cycle and why.
• We will confirm the change and reissue your Direct Debit notice so you know when the next collection will land.

Things to keep in mind

A date change is a change to the schedule, not to the total you owe or the rate shown in your offer. Moving a date can slightly shorten or lengthen the gap before the next collection, which can affect how that collection is calculated on a Credicorp Flex facility. We will explain any effect before we confirm.

Give us enough time

Direct Debit changes need to be processed before the next collection is prepared, so request the change in good time rather than right before a due date. If a collection is already in progress, the new date will usually take effect from the following cycle. If you are changing the date because of a cash-flow problem rather than preference, please tell us — we would rather help early than treat a payment as missed.

For related payment timing guidance, see changing your payment date, Direct Debit notice periods and what to do if cash flow is tight this month.

See also: Can I make a one-off extra payment without changing my Direct Debit?, Can I pay a Flex drawing from a different card or account?, Can I pay extra towards my balance?.

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Yes. A one-off extra payment and your regular Direct Debit are separate things. You can pay a lump sum whenever your company has spare cash, and your scheduled Direct Debit carries on as normal.

How to make a one-off payment

• Pay by bank transfer using your statement reference, or by card through your online account where supported.
• Do not cancel or alter your Direct Debit — leave it in place so your scheduled payments continue.
• Keep the confirmation from your bank in case you need to query allocation.

What happens next

The extra payment reduces your outstanding balance. Depending on your product and your instruction, it can lower a future scheduled amount or bring forward when the facility clears. On Credicorp Flex, it reduces your drawn balance and your next Direct Debit is recalculated and renotified. If you want a particular outcome, tell us when you pay.

A useful habit

Treating overpayments as a separate, occasional action — rather than fiddling with your Direct Debit each time — keeps things simple and avoids the risk of accidentally stopping your scheduled collections. If you want to make extra payments regularly, talk to us and we can look at whether adjusting the schedule itself makes more sense for your company.

Related articles explain how overpayments are applied, making a partial overpayment and paying by bank transfer.

See also: Can I change the date my payment is taken?, Can I pay a Flex drawing from a different card or account?, Can I pay extra towards my balance?.

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You can initiate a bank transfer to your Credicorp facility at any time of day or night, including weekends and bank holidays, using your business bank's Faster Payments service. The transfer itself leaves your account immediately, but how quickly it is applied to your Credicorp balance depends on when our systems process incoming payments.

When does the payment post to my account?

Faster Payments received Monday to Friday during banking hours typically post within a few hours. Transfers sent late on a Friday evening, over the weekend, or on a bank holiday will be received by our payment processor but queued and applied on the next working day morning. Your dashboard will show the cleared date, not the initiated date, so do not be concerned if a Sunday evening transfer does not appear until Monday.

Does timing affect whether a payment is counted as on time?

We record payments as received on the date they clear to our account, not the date you initiated the transfer. If your due date is a Monday and you send a Faster Payment on Saturday evening, it should clear in time — but to be safe, aim to send it by Friday afternoon. If you are ever uncertain, a payment sent a day early is always better than one arriving a day late.

Direct debits and standing orders

Direct debit and standing order collections are submitted and processed on working days only. If you rely on automatic collection, the bank holiday rules described in our bank holiday article apply. Manual transfers are the only way to make a payment outside the standard banking schedule and have it apply as early as possible.

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: What happens if my repayment date falls on a bank holiday?, How do I get a payment receipt or confirmation?, Can I pay from a different bank account than the one I applied with?

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You are free to pay more than your contracted monthly instalment at any time. When we receive a payment above the scheduled amount, we apply the excess directly to your outstanding capital balance, which reduces the base on which daily or monthly interest is calculated. This means future instalments cover more capital and less interest, shortening the life of the loan.

How to make an overpayment

Send a faster payment or CHAPS transfer using your unique loan reference as the payment reference. The sort code and account number are shown in your portal under Make a payment. There is no need to notify us in advance for overpayments below 25% of the outstanding balance — we will apply the funds and send you a revised repayment schedule within two business days.

Early repayment charges

Most of our standard business term loans carry an early repayment charge (ERC) if you repay the entire balance within a defined period — typically the first year of the facility. Partial overpayments that fall short of full settlement are generally ERC-free, but check your specific facility agreement for the exact position. If you want to settle in full, request an early settlement figure through the portal first so you know the precise amount due, including any applicable charge (illustrative — actual ERC terms vary by product and drawdown date).

Impact on your payment schedule

• Overpayments reduce the term by default — your monthly instalment stays the same and you finish sooner.
• If you would prefer a lower monthly instalment rather than a shorter term, contact servicing and we can restructure the schedule.
• Your Direct Debit continues to collect the original contractual amount until you or we update the mandate.

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 get an early settlement figure?, What happens if a payment fails?.

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Yes — you can repay an individual Credicorp Flex drawing as a one-off using a card or a bank transfer, and that payment can come from a different source than your usual collection. This is a Flex-specific question: it is about clearing or reducing a single drawing on the spot, rather than the broader question of moving the account your regular payments come from. For that, see paying from a different business bank account.

Paying a single drawing ad hoc

Flex is a revolving facility, so each drawing sits against a running drawn balance rather than a fixed monthly schedule. When spare cash comes in, you do not have to wait for the next cycle — you can settle a drawing in full, or pay any amount above the minimum to reduce it. There is no fee, no notice period and no minimum interest charge for doing so, and paying early stops the interest accruing on that amount from the same day. The mechanics are covered in whether you can pay off a Flex drawing early.

How to make the payment

1. Sign in to the customer portal and open the Flex panel.
2. Find the drawing you want to clear or reduce. The portal shows the exact £ figure — the drawn amount plus any interest accrued to today.
3. Choose how to pay: by debit card, by Faster Payments bank transfer, or by scheduling the amount to your next Direct Debit collection.
4. If you are paying by transfer, quote the reference shown so the money is matched to the right facility — see what reference to use for a bank transfer.

Which card or account you can use

Credicorp lends only to UK limited companies and LLPs for business purposes, and we do not take personal guarantees from directors. The facility is the company's liability, so a repayment should come from the company's own funds — a UK business debit card or the company's business bank account. We take UK business debit cards on the secure payment page; credit cards, prepaid cards and some commercial cards may be declined. If a card is refused, it is almost always the bank's own check rather than anything on your account — see why a card payment was declined.

A one-off transfer from a different source can still reach us — for example if a director or a parent company is settling an amount — but it does not change who is responsible for the facility, and the reference is what links it to your company. The wider rules on that are in can someone else pay on behalf of the company.

This does not disturb your Direct Debit

Paying a drawing ad hoc is separate from your standing Direct Debit. A one-off card payment or transfer reduces your drawn balance there and then; your scheduled collection stays in place and is simply recalculated and renotified to reflect the lower balance at the next cycle. You do not need to cancel or amend the Direct Debit to make an extra payment — and you should not, or you risk stopping your regular collections. This is the same principle as making a one-off extra payment without changing your Direct Debit.

A note on where the money comes from

Settling the odd drawing from a director's funds in a tight month is fine as a one-off. But the standing Direct Debit we collect from should be the borrowing company's own business account, not a personal or third-party one. If you find you are regularly stepping in from outside the business to clear drawings, that is a useful signal — it is worth a conversation rather than papering over a recurring cash-flow gap. You can check your exact drawn balance, accrued interest and next cycle date any time in the portal, or get in touch and we will confirm the position before you pay. Please never send card details by email — we only ever take a card on the secure payment page or over the phone.

See also: Can I change the date my payment is taken?, Can I pay extra towards my balance?, Can my company request a payment holiday?.

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Yes — you can make loan payments by faster payment or CHAPS bank transfer at any time. For most borrowers, Direct Debit is the default because it is automated and reduces the risk of a missed payment, but we understand some business accounts (particularly newer fintechs or certain foreign-incorporated UK branches) have limited or no Direct Debit support.

Using bank transfer as your primary method

If you want all regular instalments collected by bank transfer rather than Direct Debit, contact our servicing team to flag this on your account. We will mark the Direct Debit as inactive, and you take responsibility for sending each instalment on or before the due date. We strongly recommend setting up a standing order from your business account — your sort code, account number, and payment reference are in the portal under Make a payment.

Important considerations for standing orders

• A standing order is controlled entirely by your bank, so if your instalment amount changes (for example after an overpayment restructure), you must update the standing order yourself.
• If you are on a variable-rate facility, the amount may change periodically — Direct Debit handles this automatically; a standing order does not.
• Late transfers are treated identically to any late payment — the missed-payment process applies from the day after the due date.

Best of both worlds

Many directors keep the Direct Debit active for the base instalment and use ad hoc faster payments for any overpayments or lump sums. This avoids manual tracking while still giving flexibility to pay extra when cash flow permits.

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 set up the Direct Debit for my loan?, How do I change my loan repayment date?.

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Most customers find that paying a little more, even occasionally, makes a real difference. Interest is calculated on the balance still outstanding, so the sooner that balance comes down, the less interest accrues. You are welcome to pay extra towards your Credicorp loan at any time, and there is no penalty for doing so.

Ways to overpay

• One-off card payment. Use the Make a Payment page to pay any amount you choose, in addition to or in place of your usual schedule.
• Bank transfer. Send a transfer using the account details on your statement, and quote your account or reference number.
• Increase a Direct Debit. If you would like your monthly Direct Debit collection to be a higher fixed amount going forward, use the Set up or change a Direct Debit form. We will confirm the new amount in writing and the date of the first revised collection.

How it is applied

Unless you tell us otherwise, an overpayment is applied to the outstanding balance of your loan straight away. That means interest from the next interest calculation is worked out on the lower balance — so a £100 overpayment now saves more than a £100 overpayment closer to the end of the term.

If you would prefer an overpayment to be held against your next scheduled instalment rather than reducing the balance immediately, please tell us when you pay. We will apply it as you have asked.

Settling the loan early

If you are thinking of clearing the loan in full rather than just paying extra, ask for a settlement figure using the form of the same name. That gives you the exact figure for a chosen date, including any rebate of interest that applies. The dedicated article How do I get a settlement figure? walks through how this works. For full details on paying your loan off early, see can I pay my loan off early.

If you are not sure which approach is right for you, please contact us — we are happy to talk it through.

See also: Can I change the date my payment is taken?, Can I make a one-off extra payment without changing my Direct Debit?, Can I pay a Flex drawing from a different card or account?.

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Ad-hoc or early repayments can be sent from any UK business bank account held in your company's name. However, the direct debit mandate on your agreement is tied to the account you provided at onboarding, so scheduled automatic collections will continue to go from that account unless you formally update the mandate.

Updating your direct debit account

To change the account from which we collect your regular payments, contact our support team at least five working days before your next due date. We will send a new direct debit instruction to your bank. You will receive a confirmation notice, and the change takes effect from the following collection. Do not cancel the existing mandate before the new one is confirmed active, as this can cause a missed payment.

Making a one-off payment from a different account

If you want to make a lump-sum or early repayment from a secondary business account, simply transfer funds to the sort code and account number in your facility agreement. Include your Credicorp account number as the payment reference. Payments received without a valid reference may take longer to allocate. Only accounts in the company's name are acceptable — personal or director accounts cannot be used.

Personal accounts are not accepted

Because we lend to the company, repayments must come from the company. We are unable to accept transfers from a director's personal current account, a personal savings account, or any account not registered to the borrowing entity.

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: Can I set up a standing order to cover my repayments?, How do I get a payment receipt or confirmation?, What does a failed payment look like on my account?

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You can change the business bank account your repayments are taken from — for example if your company has moved banks or restructured its accounts. The key rule is that the paying account must be in the name of the company that holds the facility.

Why it has to be a company account

Credicorp lends only to UK limited companies and LLPs for business purposes. The loan is to the company, and we do not take personal guarantees from directors. Repayments should therefore come from the company's own funds and its own business account, not from a personal account or a third party.

How to switch the account

• Set up a new Direct Debit instruction using the new business account details through your online account, or contact support for help.
• Do not cancel the old Direct Debit until the new one is confirmed as active, so no collection is missed in between.
• Check the next scheduled collection to confirm it will be taken from the new account.

Timing

Allow enough time for the new instruction to be set up before your next due date. If a collection is imminent, it may still be taken from the old account, with the new account used from the following cycle. If you are mid-switch and unsure which account a collection will hit, contact us and we will confirm before the date.

For related payment setup guidance, see how to set up or change a Direct Debit, paying by bank transfer and what happens if a Direct Debit fails.

See also: Can I change the date my payment is taken?, Can I make a one-off extra payment without changing my Direct Debit?, Can I pay a Flex drawing from a different card or account?.

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We do not accept debit or credit card payments for scheduled loan instalments or lump-sum repayments. This is standard practice for UK business lending: card rails are designed for retail transactions, carry interchange costs that do not suit loan servicing, and add reconciliation complexity that could delay posting to your account.

Accepted payment methods

• Direct Debit (BACS): The default and recommended method — automated, no action required each month once set up.
• Faster Payments: Suitable for overpayments, manual catch-up payments, or if your Direct Debit mandate is still being established. Same-day posting on UK business days up to the scheme limit.
• CHAPS: For large lump-sum payments or full early settlement — arrives same day with no upper limit, though your bank may charge a fee for outgoing CHAPS transfers.

How to make a manual bank transfer

Your loan payment sort code, account number, and unique payment reference are displayed in the portal under Make a payment. Always use your loan reference as the payment reference field; without it, posting can be delayed by one to two business days while we match the funds.

What about paying from a personal account?

Loan instalments should be paid from the company's own business bank account. Payments from a director's personal account can be accepted in exceptional circumstances but will be treated as a director loan into the business for accounting purposes, which may have implications for your company records. If you anticipate needing this, speak to your accountant first.

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 set up the Direct Debit for my loan?, Can I pay by bank transfer instead of Direct Debit?.

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Rescheduling a single repayment — moving it a few days later without altering the rest of your schedule — is considered on a case-by-case basis. It is not available in your account dashboard; you need to contact us before the due date to request it.

When requests are typically approved

Short-term cash-flow timing mismatches are the most common reason companies ask to shift a payment by a few days — for example, waiting for a large customer invoice to clear. Requests made at least three working days before the due date give us time to process the change before the direct debit is submitted to your bank. Requests made on the due date itself cannot usually be accommodated because the collection instruction has already been sent.

What changes and what stays the same

If we agree a deferral, only the single payment moves. Your remaining schedule is not extended automatically. Depending on your facility type, a small amount of additional interest may accrue on the deferred amount for the days between the original and new due date. We will confirm any cost in writing before you confirm the change. For Credicorp Slice instalments, shifting one weekly payment may affect the 6% flat fee calculation for that instalment; we will explain the impact clearly.

How to make the request

Contact us via the in-app messaging, by email, or by phone. Have your Credicorp account number ready and tell us the original due date, the amount affected, and the date you would be able to pay. We aim to respond within one working day.

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: What does a failed payment look like on my account?, What happens if my repayment date falls on a bank holiday?, Can I split a repayment across two separate transactions?

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You can arrange a standing order from your business bank account to cover scheduled repayments, but we recommend checking a few things first so the amounts and timing stay aligned with your agreement.

Standing order vs direct debit

Most Credicorp facilities collect repayments by direct debit, which pulls the exact contractual amount on the due date automatically. A standing order pushes a fixed sum you configure yourself. That means any change to your repayment schedule — for example a Flex draw altering your minimum payment — will not update the standing order automatically. You would need to amend it with your bank each time.

Setting up the standing order correctly

Use the sort code and account number shown in your facility agreement or your online account dashboard. Set the payment reference to your Credicorp account number so receipts are matched instantly. For a Business Loan, the amount and date are fixed for the term, making a standing order straightforward. For Credicorp Flex, the amount can vary month to month, so a standing order is only appropriate if you intend to overpay or pay a round figure above the minimum each period.

What happens if the standing order amount is wrong

If your standing order sends less than the amount due, the shortfall is treated the same as a partial payment — it will show as outstanding and may attract a late-payment notice. If it sends more, the excess is applied to your outstanding balance. Contact our team before changing any standing order instruction to avoid timing gaps.

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: What happens if a repayment falls on a bank holiday?, Can I pay from a different bank account?, How do I get a payment receipt or confirmation?

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There is no requirement to send your repayment as a single transfer. If it suits your cash-flow, you can make two or more partial payments in the days before the due date, provided the total clears by the close of business on the due date.

How partial payments are allocated

Each transfer is applied to your outstanding balance as it arrives. If the cumulative total reaches or exceeds the amount due before the due date, no further collection action is taken. If the total falls short by the due date, any remaining balance is treated as overdue and a follow-up notice is sent. We do not retain a running tally of expected split payments, so it is your responsibility to ensure both transfers reach us in time.

Reference and timing

Use your Credicorp account number as the payment reference on every transfer — not just the first one. If you omit the reference on a partial transfer, it may be held for manual matching, which could cause it to post after the due date even if it arrived in time. For Faster Payments this is rarely an issue, but allow at least one working day extra around month-end or bank holidays.

Credicorp Flex and Slice specifics

For Credicorp Flex, partial payments reduce your drawn balance as they arrive and free up availability immediately. For Credicorp Slice, the scheduled instalment amounts are fixed; sending a partial transfer does not defer the remainder of the instalment — the outstanding portion remains due on the original date.

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: Can I pay from a different bank account than the one I applied with?, How do I get a payment receipt or confirmation?, Can I reschedule a single repayment?

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We do not offer scheduled payment holidays as a built-in feature, but if your company is experiencing a short-term cash-flow difficulty, you can apply to defer one or more instalments. Deferral is assessed individually and is not automatic — interest continues to accrue on the full balance during any deferred period, so the total cost of your loan will increase (illustrative, not a guarantee of approval or specific terms).

How to apply for a deferral

Contact our servicing team at least five business days before the next collection date. We will ask you to provide a brief explanation of the temporary difficulty and, depending on the amount and duration, may request supporting information such as a recent management accounts summary or a bank statement. We aim to give a decision within two business days of receiving everything we need.

What happens if a deferral is agreed

• The deferred instalment(s) are added to the end of your loan term, extending it rather than increasing monthly payments — though you can choose to repay in a lump sum later instead.
• Interest accrues throughout the deferred period and is factored into the revised schedule.
• Your Direct Debit is paused for the agreed period and reactivated automatically on the new next collection date.
• A deferral does not constitute an arrears record provided it is agreed before the due date passes.

If you are in genuine financial difficulty

If the difficulty is more than temporary, speak to us early. We work with a qualified debt adviser referral service and can pause collections for a short period while you take independent advice. Engaging promptly almost always leads to better outcomes than allowing arrears to accumulate.

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: What happens if a payment fails?, How do I change my loan repayment date?.

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If your company has spare cash in a given month, you can pay more than the scheduled amount towards a Credicorp Flex or Credicorp Slice facility. A partial overpayment is any amount above your due payment that does not fully close the balance.

How an overpayment is applied

An overpayment is credited to your facility and reduces the outstanding balance. How that affects future payments depends on your product and agreement: in some cases the remaining term shortens, in others the scheduled payments themselves reduce. Ask your account team to confirm the effect before you pay so there are no surprises.

Before you overpay

• Tell us the amount and that it is intended as an overpayment, not an early settlement.
• Use the correct payment reference so the funds are matched to your facility.
• Keep your scheduled Direct Debit running unless we confirm otherwise.

Overpayment versus settlement

An overpayment reduces the balance but leaves the facility open. To close it entirely you need a settlement figure, which is calculated to a specific date. If you intend to clear everything, request a settlement figure rather than estimating.

Facilities are available only to UK limited companies and LLPs for business purposes and fall outside the FCA consumer-credit regime.

See also: Making an extra or overpayment on your loan, How are overpayments applied to my account? and Can my company make a partial payment if it cannot pay in full?.

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If your company has strong months and quieter ones, you might want to pay ahead while cash is plentiful so a leaner month feels less tight. Whether and how this works on a Credicorp Flex or Credicorp Slice facility depends on your agreement, so it is worth checking before you rely on it.

How paying ahead is treated

Money paid above your due amount is credited to your facility. Depending on your product, that credit may reduce the outstanding balance or be held to offset an upcoming payment. These are different outcomes, so ask your account team which applies before you assume a future collection will be skipped.

What to confirm

• Whether an advance payment reduces the balance or sits as credit against the next payment.
• Whether your Direct Debit will still attempt to collect as normal.
• How the advance shows on your statement and schedule.

A note of caution

Paying ahead is not the same as cancelling a future Direct Debit. If you want a specific collection paused, you must arrange that with us, otherwise the scheduled payment may still be taken. We will confirm exactly how your advance has been applied.

Credicorp lends only to UK limited companies and LLPs for business purposes, outside the FCA consumer-credit regime.

See also: Can my company make a partial overpayment?, How does Slice pay my supplier?, Can I object to how you use my data?.

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If your company expects a short, predictable gap in cash flow, you can ask us about a payment holiday on a Credicorp Flex or Credicorp Slice facility. Whether one is available depends on your product, your agreement and the standing of your facility, so the first step is to raise it with us early.

How to request one

• Contact your account team before the affected payment date.
• Explain why you need the pause and how long you expect it to last.
• Confirm how your company plans to resume normal payments afterwards.

What a payment holiday involves

If agreed, your scheduled payments are paused or reduced for a defined period. Interest continues to be treated in line with your agreement during the pause, which generally means the total cost or the remaining schedule will reflect the paused period. We will set this out clearly before anything is confirmed so you can decide whether it works for your business.

If the gap is longer than expected

A payment holiday is intended for a temporary, planned situation. If your company is in genuine financial difficulty, ask us about forbearance instead, which is designed to support businesses facing a sustained problem.

Facilities are provided only to UK limited companies and LLPs for business purposes and sit outside the FCA consumer-credit regime.

See also: What happens when payments resume after a pause?, Can I pause payments if my company hits a cash-flow gap? and Does a payment holiday increase the total cost?.

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Yes — your company can repay a Credicorp facility in full before the end of your agreed term. Early settlement can make sense when cash flow allows, or when you no longer need the facility.

Get a settlement figure first

Do not simply transfer your remaining balance from your last statement. The exact amount owed changes day to day, so ask us for an up-to-date settlement figure that is valid to a stated date. This makes sure you pay neither too little, which would leave the account open, nor too much.

How early settlement works by product

• Credicorp Slice — request a settlement figure, then pay it by the method we confirm, usually bank transfer with your statement reference.
• Credicorp Flex — because the balance can vary with your draws and repayments, a same-day settlement figure is especially important. Tell us you intend to close the facility so no further draws are taken.

After settlement

Once we receive the full settlement amount, we close the facility and confirm it in writing. Cancel any Direct Debit only after we confirm there is nothing left to collect. The charges that apply to early settlement, if any, are those set out in your agreement — we will state the figure clearly when we quote your settlement, with no surprise costs added.

Before paying, read requesting a settlement figure, how early settlement works and whether there is a penalty for early repayment.

See also: Can I change the date my payment is taken?, Can I make a one-off extra payment without changing my Direct Debit?, Can I pay a Flex drawing from a different card or account?.

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Business circumstances change, and the repayment arrangement that suited your company at the start may not fit later on. Depending on your facility and situation, it may be possible to restructure how your company repays a Credicorp Flex or Credicorp Slice facility.

What restructuring can mean

• Spreading the remaining balance differently over time.
• Adjusting the payment date or frequency to match cash flow.
• A revised arrangement where the company is facing difficulty.

The right approach depends on whether you are managing a planned change or responding to genuine financial pressure.

How to raise it

Contact your account team and explain what has changed and what you are trying to achieve. We will look at what is possible for your facility and set out clearly how any change affects your schedule, the remaining term and the overall cost before anything is agreed.

Planned change versus difficulty

If your company is in genuine difficulty, a restructure may form part of forbearance support. If it is simply a preference, we treat it as a standard request. Either way, telling us early gives us more room to help.

Credicorp lends only to UK limited companies and LLPs for business purposes. As an exempt business lender we sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

See also: Can my company request a payment holiday?, Does a payment holiday increase the total cost?, What forbearance support is available if my business is struggling?.

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Sometimes a payment needs to come from somewhere other than the borrowing company's own account — a director wants to clear an amount personally, a parent company is funding the subsidiary, or an accountant is settling things while sorting out the books. In most cases a third party can make a payment towards your facility, but it does not change who is responsible for the debt or who can give instructions on the account.

The facility stays the company's

Credicorp lends to UK limited companies and LLPs for business purposes only. The facility is a liability of the borrowing company, and we do not take personal guarantees from directors. So even if someone else moves the money, the obligation to repay remains with the company that took out the loan. A third-party payment settles part or all of what the company owes — it does not transfer the agreement to whoever paid.

Who might pay on the company's behalf

• A director clearing an amount from personal funds, for example to keep the account on track during a tight month.
• A parent or group company funding a subsidiary's repayment.
• An accountant or bookkeeper making a payment as part of managing the company's finances.
• Another company in a contractual arrangement that has agreed to settle the amount.

How a third-party payment is made

The cleanest way is by bank transfer, quoting the correct reference so we can match the money to the right facility. The payer does not need to be the account holder for a one-off transfer to reach us, but the reference is what links it to your company — without it, an unexpected payment from an unfamiliar account can take longer to allocate. If in doubt about the details, ask us first so the payment lands correctly.

What a third party cannot do

Making a payment is not the same as managing the account. Paying an amount does not let someone change your Direct Debit, move a payment date, request a settlement figure or update your bank details. Those are account instructions, and they can only come from a person the company has authorised. If you want an accountant or adviser to actually deal with us — speak to us, agree arrangements, handle a difficult month — that needs formal authority in place first, which is separate from simply sending a payment.

Direct Debit is different

A one-off third-party transfer is straightforward, but a Direct Debit is not. The standing instruction we collect from should be on the borrowing company's own business account, not a personal or third-party account. If your regular collections need to move, set that up properly rather than relying on someone else to pay each time.

If you are paying because money is tight

If a director or group company is stepping in because the business is struggling that month, it is worth telling us what is going on. We would rather understand the position and look at the right support than have a one-off payment paper over a cash-flow problem that keeps recurring.

Related help

• Can I pay from a different business bank account?
• Who can authorise payment changes on the account?
• Can my accountant or another representative deal with you on our behalf?
• Paying by bank transfer

Still not sure whether a particular payment will be accepted or how to reference it? Contact our team and we will confirm before the money moves.

See also: Can I change the date my payment is taken?, Can I make a one-off extra payment without changing my Direct Debit?, Can I pay a Flex drawing from a different card or account?.

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Yes — every payment your company makes is recorded against your facility and is visible to you, which matters for bookkeeping, VAT records and your year-end accounts.

Where to find your payment records

• Online account — shows your payment history, including scheduled Direct Debits, one-off transfers and card payments allocated to your facility.
• Statements — set out collections and how they have been applied to your balance over a period.
• Your own bank — your business bank statement is itself proof a Direct Debit or transfer left the account.

For your accountant

Your Credicorp statement, together with your bank records, gives your accountant what they need to reconcile repayments and account for the cost of borrowing. Keep your statements with your company records. If you need a record for a specific period or a payment that does not appear, contact our support team.

One-off and overpayments

When you pay by transfer or card, keep your bank's confirmation as well. If you use the correct statement reference, the payment will appear against your facility; if it does not show within a reasonable time, send us the date, amount and reference so we can trace it. Allocated payments will then be reflected in your account and on your next statement.

For payment tracing, read how to check whether a payment has reached us, how long a payment takes to clear and paying by bank transfer.

See also: Can I change the date my payment is taken?, Can I make a one-off extra payment without changing my Direct Debit?, Can I pay a Flex drawing from a different card or account?.

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It is a fair question: if your company pauses payments, does it pay more in the end? In most cases a payment holiday does affect the schedule or the total cost, because interest continues to be treated in line with your agreement during the pause even though payments are not being made.

Why the cost can change

When scheduled payments pause, the balance is not reducing as quickly as planned for that period. Depending on how your facility is structured, this can mean a longer remaining term, slightly higher payments afterwards, or a higher total cost over the life of the facility. We do not quote figures here because the effect depends entirely on your own agreement and the length of the pause.

How to see the real impact

• Ask us to show the revised schedule before the holiday is agreed.
• Compare the new total against your original plan.
• Decide whether the short-term relief is worth the longer-term effect.

Making an informed choice

A payment holiday can be a sensible tool for a genuine, temporary gap, but it is rarely free. We will always set out the consequences clearly so your company can weigh up the trade-off before committing.

Facilities are available only to UK limited companies and LLPs for business purposes and fall outside the FCA consumer-credit regime.

See also: Can my company request a payment holiday?, How is my payment schedule set up? and What happens when payments resume after a pause?.

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When your company overpays, there are generally two ways the benefit can show up: a lower future scheduled payment, or the same payment with the facility cleared sooner. The right choice depends on what your business is trying to achieve.

Lower the payment

If your priority is freeing up monthly cash, applying an overpayment to reduce future scheduled amounts eases the pressure on each cycle. The facility still runs to around its original end point, but each collection is smaller.

Shorten the term

If your priority is paying less overall, keeping the scheduled payment the same and letting the overpayment bring forward the final payment usually reduces the total interest, because the balance falls faster.

How to choose

• Tell us your preference when you make the overpayment — do not assume a default.
• For Credicorp Flex, an overpayment reduces the drawn balance and your next collection is recalculated, so the effect shows up automatically in the next notified amount.
• For Credicorp Slice, we can apply the overpayment either way; just say which you want.

A quick check

Whichever you choose, your interest rate stays as shown in your offer — what changes is the balance it applies to and how long. If you are unsure which outcome suits your cash-flow plan, our support team can talk it through before you transfer.

See also: Making an extra or overpayment on your loan, Can my company make a partial overpayment? and What if my company can only pay part of this month's amount?.

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Occasionally a company pays more than its facility balance, for example by paying a statement amount after an earlier overpayment, or by a duplicate Direct Debit and manual payment in the same period. Where this happens, the surplus is a credit on your facility and can be returned to you.

How a refund is processed

Once we confirm there is a genuine credit balance and the relevant payments have cleared, we refund the surplus to the business bank account the payment came from. Returning funds to the originating account is a standard control that helps prevent fraud and ensures the money goes back to the right place.

What we may need from you

• Confirmation of the business account that should receive the refund.
• Time for incoming payments to fully clear before a refund is released.
• A short check that no further payments are due to be collected.

Credit you'd rather keep on account

If you prefer, a small credit can sometimes be left on the facility and offset against the next scheduled payment instead of being refunded. Let your account team know which you would like.

Credicorp lends only to UK limited companies and LLPs for business purposes, outside the FCA consumer-credit regime.

See also: Does a payment holiday increase the total cost?, Will I get a refund if I overpay at settlement? and Funding a shop fit-out or refurbishment.

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An overpayment is any amount your company pays above the scheduled payment due. Credicorp accepts overpayments on both Flex and Slice, and they are a useful way to reduce what you owe when cash flow is strong.

What an overpayment does

• It reduces your outstanding balance.
• Because interest is charged on the balance you owe, reducing the balance can reduce the total cost over the life of the facility.
• It does not change the rate shown in your offer — it changes the amount that rate applies to.

How it affects future payments

How an overpayment feeds through depends on your product. On Credicorp Slice, an overpayment can reduce later scheduled amounts or shorten the time to clear the balance. On Credicorp Flex, an overpayment reduces the drawn balance and frees up availability, and your next collection is recalculated and renotified. If you want a specific outcome — for example to shorten the term rather than lower the payment — tell us when you make the overpayment.

How to overpay

Make an overpayment by bank transfer using your statement reference, or by card through your online account where supported. Keep paying your scheduled Direct Debit as normal unless we confirm otherwise. If you are overpaying with the intention of closing the account, ask for a settlement figure instead.

For next steps, read making a one-off extra payment, whether an overpayment reduces the payment or term and requesting a settlement figure.

See also: Can I change the date my payment is taken?, Can I pay a Flex drawing from a different card or account?, Can I pay extra towards my balance?.

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If your company pays an amount that is less than the full balance, that payment is allocated to your facility in the order set out in your agreement. Understanding this order helps you see how a partial payment changes what remains.

The usual order of allocation

Payments are typically applied first to any amount that is already due or overdue, then to interest accrued under your agreement, and then to the outstanding principal. Your agreement is the definitive source for the exact order on your facility, so check it if you need certainty.

Why allocation matters

• A partial payment that only covers the due amount leaves the rest of the balance running.
• Paying above the due amount can start reducing principal sooner.
• Clearing arrears first helps keep the facility in good standing.

Getting it right

Always use the correct payment reference so funds reach the intended facility. If your company has more than one facility with us, tell us which one a partial payment is for, otherwise we apply it according to our standard process.

Credicorp lends only to UK limited companies and LLPs for business purposes. This facility is outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

See also: Can my company make a partial payment if it cannot pay in full?, How are my payments allocated to what I owe? and What if my company can only pay part of this month's amount?.

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Ways to pay

You can make a payment to your Credicorp account in several ways:

• Online — use the secure card payment option on our Make a Payment page.
• By phone — call our team and pay by debit card during office hours.
• Direct Debit — set up an automatic payment so you never miss a due date.

Always quote your account or reference number so we can apply the payment correctly. If you are not sure which method suits you, contact us and we will talk it through.

Paying extra or settling in full

You can also pay more than your scheduled amount whenever you like — see paying extra towards your balance, which reduces the interest that accrues on what is left. If you are clearing the loan in full, request a settlement figure first. Timing close to a due date? Check how long a payment takes to clear. When you are ready, you can make a payment in the portal.

See also: Can I change the date my payment is taken?, Can I make a one-off extra payment without changing my Direct Debit?, Can I pay a Flex drawing from a different card or account?.

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You can cancel a Direct Debit whenever you like — that is your right, and your bank will act on it straight away. The one thing to understand first is that cancelling the Direct Debit does not cancel the payment. The instruction at your bank is only the method of collection; the scheduled repayment on your loan is still due on its date. So if you cancel and put nothing in its place, the collection simply will not happen, and the payment is treated as missed.

That is easy to avoid. Whether the company is switching banks, tidying up its mandates, or you just prefer to pay another way, the rule is the same: tell us before you cancel, so we can make sure the next payment still reaches us. This page explains what happens to the loan when a mandate is cancelled, how to move collections to a different business account, and the other ways to pay that keep everything on track.

What happens to the loan if you cancel the mandate at your bank

When you cancel a Direct Debit through your bank or banking app, the bank stops honouring our collection instruction. We are usually notified that the mandate has lapsed, but that notice does not change the loan itself. Here is what actually happens:

• The balance and schedule are unchanged. Cancelling the mandate does not reduce, pause or settle anything. Every scheduled payment is still due on the date shown in your repayment schedule.
• The next collection will not be taken. With no live instruction, there is nothing for us to collect against — so unless you pay another way, that payment goes unpaid.
• An unpaid scheduled payment counts as missed. A cancelled mandate is one of the most common reasons a collection does not go through. Once a due payment is not made, it is treated as missed until it is settled — see what happens if my Direct Debit fails for exactly what we do next.

None of this is a trap. If you tell us in advance, a cancellation is completely routine — we line up the next payment a different way and nothing is ever missed. The problem only arises when a mandate is cancelled with nothing arranged to replace it.

How to move collections to a different business account

If the company has switched business banks or opened a new account, you do not cancel and start from scratch — you move the Direct Debit to the new account so collections continue without a gap. Because this touches the company's money, every change is verified before it takes effect.

1. Set up the new instruction before you cancel the old one. Moving the Direct Debit to the new account is the safe way to switch banks. The full steps — and how we keep the change secure — are in how to set up, change or cancel a Direct Debit and in updating your bank details.
2. Have the new account's details ready. You will need the business account name, the sort code and the account number of the new account. We never need a card number for a Direct Debit, and we will never ask for online-banking passwords or one-time codes.
3. Time it around your schedule. Where possible, put the new instruction in place before the next collection date so there is no gap. If a collection falls due during the switch, tell us — we can move that one payment to card or transfer while the new mandate beds in.
4. Check your schedule afterwards. Sign in to the Payments area and confirm the next collection will come from the right account. Your exact dates and amounts always live in the portal, never in this help centre.

Other ways to keep paying, so cancelling is never a missed payment

You do not have to keep a Direct Debit running to stay on top of the loan. If you would rather pay each scheduled amount yourself, that is fine — the important thing is that the payment still reaches us on or before its due date. Once you have cancelled the mandate, use one of these:

• Debit card. Pay online through the secure card option on our Make a Payment page, or by phone during office hours. Card payments are normally applied the same working day, which makes a debit card the surest way to land a payment in time when you are close to a due date.
• Bank transfer. Send the payment from the company's bank account using the payment details on your statement, and always quote your account or reference number so we can apply it correctly. A transfer can take a little longer to settle than a card payment, so allow time before the due date.

For a side-by-side of every method, see how can I make a payment, and for how quickly each one lands, see how long a payment takes to clear. If you are paying right up against the deadline, a same-day debit card payment is the safest choice.

If you want to cancel because money is tight

Cancelling a Direct Debit is sometimes a reflex when cash flow is under pressure — but on its own it does not help, because the payment is still due and stopping the collection just turns it into a missed one. If the real issue is that the company is struggling to keep up, please do not just switch off the mandate: talk to us early. There is no penalty for asking, and asking for help is not reported as a default.

We would always rather agree something sensible than see a payment missed. Depending on the company's position we can look at a short payment freeze, a reduced-payment arrangement or a longer variation. See help if you are struggling to make a payment for what is available, and what 'arrears' means and whether it affects your credit file if you are worried about a payment that has already been missed.

Where your exact figures live

This page explains how cancelling and moving Direct Debits works in general terms only. The specific amounts, dates and the account a Direct Debit is set up on are held in your portal — sign in to the Payments area to see or change them. We keep this help centre figure-free on purpose, so nothing here ever contradicts what you see in your live account.

A note on how this lending works: Credicorp lends to limited companies and LLPs, and a Business Loan is exempt from FCA consumer-credit regulation under Article 60B of the FSMA Regulated Activities Order 2001. The company is the borrower, there is no personal guarantee, and the Direct Debit is set up on the company's business bank account — so it is not a personal debt on the director's own credit file. This kind of lending is not covered by the Financial Ombudsman Service or the Financial Services Compensation Scheme. The Direct Debit Guarantee that lets you cancel at any time is provided by your bank and applies to your Direct Debits in the normal way.

See also: Can I change the date my payment is taken?, Can I make a one-off extra payment without changing my Direct Debit?, Can I pay a Flex drawing from a different card or account?.

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If the current repayment date no longer lines up with your company's cash flow, you can ask us to move it. We aim to accommodate a date shift of up to 14 days earlier or later within the same calendar month, subject to a short review to confirm no arrears are on the account.

How to request a change

Log in to your account at clients.credicorp.co.uk, navigate to Loan Settings and select Change payment date. Alternatively, contact our servicing team by email or secure message. We normally process requests within two business days, and we will confirm the new date in writing before the change takes effect.

How the change affects your schedule

If you move the date later in the month, interest will accrue for the extra days and a small bridging amount will typically be added to your next instalment (illustrative, not a quote — the exact figure depends on your outstanding balance and rate). Moving the date earlier reduces that stub period. We will send you a revised schedule showing every future payment before anything changes.

Restrictions to be aware of

• Date changes are limited to once per 12-month period on standard facilities.
• The new date cannot fall on a weekend or UK public holiday — it will roll to the next business day automatically.
• If a payment is due within five business days, the change takes effect from the following cycle, not the imminent collection.
• Accounts with a missed or late payment in the last 90 days may need additional sign-off.

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 set up the Direct Debit for my loan?, What happens if a payment fails?.

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Most customers can confirm a payment by checking their next statement, or by asking us for an up-to-date statement of account. Here is how to be sure a payment has been applied correctly.

Same-day visibility

Debit card payments made through our Make a Payment page are normally posted to your account the same working day. You should see them on your next statement, or on a request for an up-to-date statement at any time using the Request a Statement of Account form.

Bank transfers and Direct Debits

Direct Debits and standard bank transfers (Bacs) take up to three working days to settle. If a payment was sent on a Friday or just before a bank holiday, allow for the next working day before assuming there is a problem.

If a payment is missing

If three working days have passed and a payment is still not showing, send us the following so we can trace it:

• your account or reference number;
• the date the payment was sent;
• the amount;
• the method (card, Direct Debit, bank transfer) and the reference you used.

The fastest way to send these details is the Payment Dispute form. We will look at the records on both sides and confirm where the payment is. If the payment did not reach us at all (for example a transfer to an out-of-date account number), we will tell you what to do next.

If you are ever asked to send a payment to an account number that is different from the one on your statement, do not do so — contact us first to confirm. Our public details are on the Contact Us page; payment-account details are issued only through our official correspondence.

See also: How long does a payment take to clear?, Does a payment holiday increase the total cost? and Funding everyday working capital for your company.

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As soon as a payment is processed on your facility, a record appears in the Transactions section of your Credicorp account. You can download a PDF receipt from there whenever you need one — for your own bookkeeping or to share with your accountant.

Finding your transaction history

Log in to your account, select the relevant facility, and choose the Transactions tab. Each entry shows the date cleared, the amount, and the running balance. Click the download icon on any row to save a formatted PDF receipt. Receipts are available immediately after a payment settles; same-day Faster Payments typically clear within a few hours, while BACS direct debits confirm the following working day.

Bulk statements and accountant access

If you need a full period statement — for example to reconcile a quarter — use the Export button to download a CSV or PDF covering a date range you choose. If your accountant or bookkeeper needs their own access, you can add them as a read-only user from the Account Settings page; they will then be able to download statements and receipts directly without contacting your team each time.

Receipt not appearing

If a payment you made by bank transfer does not appear within one working day, check that you used the correct reference number. Unmatched transfers are held and allocated manually, which can add a day or two. Contact us with your payment reference, the sending account, and the exact amount and we will locate it 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: Can I pay from a different bank account than the one I applied with?, What does a failed payment look like on my account?, Can I set up a standing order to cover my repayments?

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An early settlement figure (sometimes called a redemption figure) is a snapshot of what you owe if you repay the entire outstanding balance on a particular date. Because interest accrues daily, the figure is date-specific: it will be different for 15 June versus 30 June, for example. We provide settlement figures valid for 14 calendar days.

How to request a figure

Log in to clients.credicorp.co.uk and go to Loan details > Settlement quote. Choose your intended settlement date and the system will generate a breakdown showing outstanding capital, accrued interest to that date, and any early repayment charge applicable under your facility agreement. For complex facilities or queries about the calculation, contact our servicing team who can prepare a detailed breakdown within one business day.

What the figure includes

• Outstanding capital: The original drawdown minus all principal repaid to date.
• Accrued interest: Interest that has built up since your last payment date to the settlement date you specified.
• Early repayment charge (if applicable): Typically expressed as a number of months' interest, and usually only applies in the first year of the facility (illustrative — exact terms are in your agreement).
• Any arrears: If your account has missed payments, these are included in the settlement total.

How to pay

Settlement must be paid by CHAPS or faster payment on or before the quoted settlement date. Once received in full, we will release the loan record as satisfied, send a confirmation letter, and cancel the Direct Debit mandate. Allow one to two business days for written confirmation to appear in the portal.

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: Can I overpay to clear my loan faster?, Can I pay by bank transfer instead of Direct Debit?.

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The most common reason a Direct Debit fails is simply that the business account did not hold enough on the day. A little planning around your collection date prevents almost all of these failures.

Know your date and amount

Check your Direct Debit notice and online account so you know exactly when the next collection is due and how much it will be. On Credicorp Flex the amount can vary cycle to cycle, so do not assume it matches last time — read the renotified figure.

Fund the account in good time

• Aim to have cleared funds in place from the working day before the due date.
• Do not rely on a transfer made on the morning of collection landing in time.
• Remember collections shift to the next working day if the date falls on a weekend or bank holiday — but keep the funds ready around the original date to be safe.

Align the date with your cash flow

If your due date consistently falls just before your main customer receipts arrive, ask us to move it to shortly after. A date that fits your real cash-flow rhythm is the most reliable fix of all.

If the money will not be there

If you can see a shortfall coming, contact us before the due date. Early conversations open up options that disappear once a collection has already failed.

See also: How much notice will I get before a Direct Debit is collected?, Can I make a one-off extra payment without changing my Direct Debit? and How to set up or change a Direct Debit with Credicorp.

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As well as Direct Debit, your company can pay a Credicorp facility by bank transfer. This is useful for one-off payments such as an overpayment, a settlement, or covering a month where you do not want to rely on a collection.

What you need

• The destination bank details we provide for your facility.
• Your facility reference, entered exactly as given.
• The correct amount, especially when settling, where it must match your settlement figure.

Why the reference matters

The reference is how we match an incoming transfer to your facility. Sending funds without it, or with the wrong reference, can delay the payment being applied while we trace it. Always pay from your business bank account so the source is clear.

Timing

Allow time for the transfer to reach and clear with us. If you are paying to meet a due date or a settlement deadline, send the funds with enough margin so cleared money arrives in time. If a payment is urgent, tell us so we can watch for it.

Facilities are available only to UK limited companies and LLPs for business purposes and fall outside the FCA consumer-credit regime.

Related payment articles cover how long a payment takes to clear, checking whether a payment has reached us and requesting a settlement figure.

See also: Can I change the date my payment is taken?, Can I make a one-off extra payment without changing my Direct Debit?, Can I pay a Flex drawing from a different card or account?.

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Clearing a Credicorp Flex or Credicorp Slice facility in full takes a few simple steps. The key is to pay the exact settlement figure rather than a statement balance, so the account closes cleanly with nothing left running.

Step by step

• Request a settlement figure for the date you intend to pay.
• Make the payment for that exact amount using the reference we provide.
• Allow time for the funds to clear in full.
• We confirm closure in writing once cleared funds are received.

Why not just pay the statement balance?

A statement shows the balance at a point in time. Interest can accrue between statements under your agreement, so paying an old balance may leave a small shortfall that keeps the facility open. The settlement figure is calculated to your chosen date and is the only amount that closes it fully.

After closure

Once the facility is closed, any Direct Debit linked to it is cancelled so no further collections are taken. Keep our written confirmation for your company records.

Facilities are provided only to UK limited companies and LLPs for business purposes and sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

See also: Can I pay my loan off early?, What is a settlement figure? and Can my company settle the facility early?.

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A settlement figure is a quote, valid to a stated date, showing the total your company must pay to close a Credicorp Flex or Credicorp Slice facility in full. It is different from your statement balance because it is calculated precisely to the date you plan to pay.

How to ask

• Use the settlement option in your online account, or message your account team.
• Give us the exact date you expect cleared funds to reach us.
• We return the figure, the payment reference and the destination details.

Why the date matters

Interest accrues according to your agreement, so a figure quoted to one date will differ from a figure quoted to another. If you pay later than the quoted date, the amount may be slightly higher and a small shortfall could keep the facility open. If you expect a delay, ask for a fresh figure.

Keeping the quote valid

Each settlement figure carries an expiry. Pay on or before that date with cleared funds for the same amount to ensure the facility closes cleanly. We confirm closure in writing once the payment lands.

Facilities are provided only to UK limited companies and LLPs for business purposes and fall outside the FCA consumer-credit regime.

See also: How to request a settlement figure, How do I get a settlement figure?, Settlement figure (glossary).

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For most borrowers the Direct Debit mandate is collected and confirmed as part of the drawdown process — you will have signed a BACS Direct Debit instruction authorising us to collect monthly instalments from your nominated business bank account. Once confirmed, collections happen automatically on your agreed payment date.

If you need to set up or replace a mandate

If you are switching your business current account, or the original mandate was not completed, log in to clients.credicorp.co.uk and go to Payment settings > Bank account. You can submit new sort code and account number details and a fresh mandate will be sent to your bank electronically via the BACS scheme. Allow at least ten business days before the next collection date for the new mandate to clear; if the gap is shorter, we may ask you to make that instalment manually by bank transfer.

What the mandate covers

• Regular monthly instalments only — amounts are fixed to your schedule and cannot vary without your confirmation.
• Any one-off arrears collections will be notified to you in advance and require separate agreement.
• You can cancel the mandate directly with your bank at any time, though this does not cancel the loan obligation; please contact us first so we can agree an alternative collection method.

BACS Direct Debit guarantee

Although this is a business loan and not a consumer product, the standard BACS Direct Debit guarantee still applies to the mandate itself. Your bank must refund any collection that is shown to be in error, and we must give advance notice of any change in amount or date.

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 change my loan repayment date?, Can I pay by bank transfer instead of Direct Debit?.

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A Direct Debit is the simplest way to keep your repayments on track: once it is set up, each scheduled payment is collected automatically from your business bank account on the due date, so there is nothing to remember and nothing to miss. You stay in control throughout — the amount and date of every collection are shown in your repayment schedule first, and you are covered by the Direct Debit Guarantee, the protection your bank gives to everyone who pays by Direct Debit.

How to set up a Direct Debit

You set up a Direct Debit from inside your account, where the instruction is tied securely to your loan. Because it authorises us to collect from the company's bank account, we keep the process simple but careful.

1. Sign in to the portal. Go to the Payments area of your account. This is where your live schedule, balance and collection dates are held — exact figures always live in the portal after you sign in, never in this help centre.
2. Choose to set up a Direct Debit. Select the option to pay by Direct Debit and confirm the business bank account you want collections taken from.
3. Enter the company's bank details. You will need the account name (the name on the business bank account), the sort code, and the account number. The account should be one the business is authorised to set up Direct Debits on.
4. Confirm. Once the instruction is in place, future scheduled payments are collected automatically on each due date. Your schedule will show every upcoming collection before it happens.

Prefer not to do it online? You can also use the Direct Debit request form and we will set it up for you. For a full walkthrough of this process, see how to set up or change a Direct Debit. Either way, the amount and date of each collection are confirmed in your schedule before anything is taken.

How much notice you get before a collection

You are never taken by surprise. Every collection appears in your repayment schedule in advance, with the exact amount and date shown there first. If the amount or date of a collection ever changes, you receive advance notice in line with the Direct Debit Guarantee, so you always have time to make sure the funds are in place or to get in touch if something needs to change. To see when your next collection is due, sign in and open your schedule in the Payments area.

How to change the account a Direct Debit is collected from

If the company switches business banks or opens a new account, you can move the Direct Debit to the new account. Because this touches the company's money, every change is verified before it takes effect. The full steps — and how we keep the change safe — are in updating your bank details. As a rule, set up the new instruction before the next collection date so there is no gap, and check your schedule afterwards to confirm the next payment will come from the right account.

How to cancel or pause a Direct Debit

You can cancel a Direct Debit at any time, either through your bank or by telling us. There is one important thing to do first: tell us before you cancel or pause. A scheduled payment is still due even if the Direct Debit is no longer in place, so cancelling on its own does not pause your repayments — it simply removes the automatic collection, which can lead to a missed payment if nothing replaces it.

If you need to cancel or pause because the business is finding repayments difficult, please do not just stop the Direct Debit — talk to us early. There is no penalty for asking, and we would always rather agree something sensible than see a payment missed. See help if you are struggling to make a payment for the support available, including short payment freezes and repayment arrangements.

Where your exact figures live

This page explains how Direct Debits work in general terms only. The specific amounts, dates and the account a Direct Debit is set up on are held in your portal — sign in to the Payments area to see or change them. We keep this help centre figure-free on purpose, so nothing here ever contradicts what you see in your live account.

A note on how we are regulated: Credicorp lends to limited companies and LLPs, and a Business Loan is exempt from FCA consumer-credit regulation under Article 60B of the FSMA Regulated Activities Order 2001. The company is the borrower, there is no personal guarantee, and the Direct Debit is set up on the company's business bank account. The Direct Debit Guarantee described above is provided by your bank and applies to your Direct Debits in the normal way.

See also: Can I change the date my payment is taken?, Can I make a one-off extra payment without changing my Direct Debit?, Can I pay a Flex drawing from a different card or account?.

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Your complete payment history — every instalment collected, manual payment received, interest charged, and capital movement — is available in real time via the portal. You do not need to contact us to obtain a statement; you can download one yourself at any point during or after the loan term.

Finding your payment history

Log in to clients.credicorp.co.uk, select your loan from the dashboard, and click Transactions. The list is filterable by date range and shows the date, amount, type (scheduled instalment, manual payment, fee, interest charge), and the running balance after each event. You can export the full history as a CSV for use in your accounting software.

Downloading formal statements

For a formal statement in PDF format — suitable for your accountant or auditors — go to Documents > Loan statements and select the period you need. We generate monthly statements automatically and archive them here. If you need a statement for a specific date range (for example, for a year-end that does not align with a calendar month), use the Custom statement option and enter your dates.

What statements show

• Opening and closing capital balance for the period.
• Each payment broken down into capital reduction and interest component.
• Any fees charged and their basis.
• Accrued interest position at the statement date.
• Your company name, registered number, and loan reference — all of which your accountant will need for year-end accounts.

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 get an early settlement figure?, Can I overpay to clear my loan faster?.

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Credicorp offers two products, Flex and Slice, and the way payments work reflects how each is built. Your own agreement is always the definitive guide, but here is a general orientation so you know what to look for.

Credicorp Flex

Flex is designed around flexibility in how your company draws and repays. Payments can reflect the amount drawn and how interest accrues per interval under your agreement, so what you pay can vary with your usage. If you hold a Flex facility, check your schedule and statements regularly, as activity on the facility can change upcoming amounts.

Credicorp Slice

Slice is structured around a more defined repayment pattern. Payments tend to follow the schedule set when the facility starts, which can make planning predictable. Your agreement sets out the dates and amounts.

What's common to both

• Payments are usually collected by Direct Debit on the dates in your schedule.
• You can request a settlement figure to close either facility early.
• Overpayments and date changes may be possible on both, subject to your agreement.

For figures specific to your facility, always rely on your offer, agreement and current statement rather than general descriptions. Credicorp lends only to UK limited companies and LLPs for business purposes, outside the FCA consumer-credit regime.

See also: Why do statements for Flex and Slice look a little different?, How do repayments differ between Credicorp Flex and Credicorp Slice?, Credicorp Flex versus Credicorp Slice: which suits your borrowing?.

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Credicorp offers two products, and they are repaid differently. Knowing which one your company holds helps you anticipate what will be collected and when.

Credicorp Slice

Slice works on a more predictable schedule. You repay over your agreed term in scheduled payments, typically collected by Direct Debit on your due date. Because the structure is steady, it is easier to forecast each collection in advance, which suits companies that prefer certainty.

Credicorp Flex

Flex is more flexible. You can draw and repay within your facility, and the amount collected reflects your balance for that cycle. That means your Direct Debit can vary from one collection to the next. We renotify you of each amount before it is taken, so you always know the figure ahead of the date.

What is the same for both

• Repayments come from the borrowing company's business account.
• Direct Debit is our recommended method, with bank transfer and card available for one-off payments.
• Overpayments are accepted and reduce your balance.
• The rate is the one shown in your offer — the product affects the shape of repayment, not a hidden change to the rate.

Not sure which you hold?

Your agreement and online account state your product. If your collections vary cycle to cycle you are most likely on Flex; if they follow a steady schedule, Slice. Contact support if you would like it confirmed.

See also: How do payments differ between Credicorp Flex and Slice?, How to plan Flex repayments around your cash flow, Choosing between Credicorp Flex and Credicorp Slice.

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If your company has the cash to clear its balance ahead of schedule, you can settle a Credicorp Flex or Credicorp Slice facility early. The first step is always to request a current settlement figure rather than relying on your last statement balance.

Why ask for a settlement figure?

Your statement shows the balance at a point in time. A settlement figure is calculated to a specific date and reflects exactly what is needed to close the facility, including any interest accrued up to that date under the terms set out in your agreement. Because interest can accrue between statements, the settlement figure is the only number you should pay to close the account.

How to request one

• Sign in to your account portal and use the early settlement option, or contact your account team.
• Tell us the date you intend to pay, as the figure is valid to that date.
• We confirm the amount and where to send it.

After you pay

Once cleared funds reach us in full, we close the facility and confirm in writing. Any standing Direct Debit linked to the facility is cancelled so no further collections are taken.

Credicorp lends only to UK limited companies and LLPs for business purposes. This facility sits outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

For the settlement sequence, see requesting a settlement figure, settling your facility early and how refunds of overpayments work.

See also: Can I change the date my payment is taken?, Can I make a one-off extra payment without changing my Direct Debit?, Can I pay a Flex drawing from a different card or account?.

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When your company draws on a Credicorp Flex or Credicorp Slice facility, a payment schedule is created that sets out the dates and amounts your business is due to pay. Knowing where to find it and how to read it keeps your cash-flow planning straightforward.

What the schedule shows

• The dates each payment is due.
• The amount due on each date under your agreement.
• How payments are expected to reduce the balance over your agreed term.

Where to find it

Your schedule is available in your online account alongside your agreement documents. We recommend saving a copy for your records when your facility starts, and checking the portal after any change such as an overpayment or a date adjustment, as those can update the schedule.

Keeping it accurate

The schedule reflects your facility as it stands. Actions such as an overpayment, a payment holiday or a change of payment date can alter future dates or amounts, and the portal will show the up-to-date version. If anything on your schedule looks wrong, contact your account team so we can check it.

Credicorp lends only to UK limited companies and LLPs for business purposes, outside the FCA consumer-credit regime.

See also: Does a payment holiday increase the total cost?, Can my company make a partial payment if it cannot pay in full? and What is a loan term and how is mine set?.

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Debit card payments are normally applied to your account the same working day. Direct Debit collections and standard bank transfers can take up to three working days to clear.

Timing matters most around a due date: if you are paying close to the deadline, a same-day debit card payment is the surest way to have it applied in time, since transfers and Direct Debit can take longer to settle.

If a payment has not appeared after three working days, contact us with the date, amount and method used and we will trace it for you. You can also see the ways to make a payment or check whether a payment has reached us.

See also: Can I change the date my payment is taken?, Can I make a one-off extra payment without changing my Direct Debit?, Can I pay a Flex drawing from a different card or account?.

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Under the Direct Debit scheme rules, we give you advance notice of the amount and date of each collection before it is taken from your business account. This is part of how the scheme works for every originator, including Credicorp.

Where to find your collection schedule

When your Credicorp Flex or Slice facility is set up, your agreement sets out your due dates and the amounts due. Your online account and your statements show the next scheduled collection so there are no surprises.

When the notice may change

• If you make an overpayment, a later collection amount may change — we will renotify you in line with the scheme.
• If you agree a change to your payment date with us, the schedule updates and you receive fresh notice.
• For Credicorp Flex, where draws and repayments can vary, the amount due can move between cycles, and each collection is notified ahead of time.

What you should do

Make sure the business account linked to your Direct Debit holds enough on the working day before the due date. Faster Payments and internal transfers can take time to land, so do not leave a top-up to the morning of collection. If a date falls awkwardly for your cash flow, contact us in good time to discuss your options rather than letting a collection fail.

See also: How do I make sure there's enough in the account for a collection?, Can I make a one-off extra payment without changing my Direct Debit? and How to set up or change a Direct Debit with Credicorp.

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If your company has paid the same amount twice, perhaps a manual transfer went out shortly before a Direct Debit was collected, contact us as soon as you notice. A duplicate payment leaves a credit on your facility, and we can put it right.

What to do first

• Note the dates, amounts and references of both payments.
• Tell us which one was the intended payment and which was the duplicate.
• Hold off on cancelling anything at your bank until we confirm what has reached us, so you don't accidentally reverse the wrong payment.

How we resolve it

Once both payments have cleared and we have confirmed the duplicate, we refund the surplus to the business bank account it came from. Alternatively, the credit can be held against your next scheduled payment if that suits your cash flow better.

Preventing it next time

If you have an active Direct Debit, you usually do not need to make a manual payment as well. Check whether a collection is already scheduled before sending a one-off transfer, and always use your facility reference so payments are matched correctly.

Facilities are available only to UK limited companies and LLPs for business purposes and fall outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

See also: Should I borrow to take a supplier's early-payment discount?, I think I was charged twice or for the wrong amount — what should I do? and Can my company make a partial payment if it cannot pay in full?.

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If a collection looks like a duplicate, or the amount is not what you expected, it is worth checking a few things before assuming an error — and you have a clear route to a refund if one was genuinely made in error.

Check these first

• Compare the amount against your latest Direct Debit notice and statement — the figure may have changed for a normal reason such as an overpayment or, on Flex, a different balance.
• Check whether a separate one-off payment or settlement is showing alongside your scheduled collection.
• Confirm the dates — a collection shifted from a weekend can look out of place.

If it is genuinely wrong

Under the Direct Debit Guarantee, if a Direct Debit is taken in error you are entitled to a full and immediate refund from your own bank. You can claim directly with your bank. Please also tell us, so we can correct our records and make sure the same thing does not happen again.

For card or transfer errors

The Direct Debit Guarantee does not apply to card payments or bank transfers. If you overpaid by card or transfer, contact us with the date, amount and reference and we will review the account and arrange to return or reallocate anything paid in error. As an exempt business lender we are outside the Financial Ombudsman Service, but we will deal with a genuine error fairly and promptly.

See also: How long does a payment take to clear?, Why was my card payment declined? and I paid twice by mistake — what should I do?.

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Many businesses want to know whether clearing a facility early reduces the total cost or whether a charge applies for doing so. The honest answer is that it depends on the terms of your specific agreement, so the right place to look is your offer documentation and a current settlement figure.

What your agreement tells you

Your agreement sets out how interest and any charges are calculated. For some structures, settling early reduces the interest you would otherwise pay over the remaining term. For others, the cost may be largely fixed regardless of when you pay. We do not quote a generic number here because only your own documents are authoritative for your facility.

The clearest way to compare

• Request a settlement figure for the date you could realistically pay.
• Compare it against the total of the payments you would otherwise make to the end of the term.
• The difference shows whether early settlement saves your company money.

If anything is unclear

Your account team can walk you through how the figure was built so you can make an informed decision. There is no obligation to proceed once you have a quote.

Credicorp lends only to UK limited companies and LLPs for business purposes, outside the FCA consumer-credit regime.

See also: How to compare early repayment terms across lenders, What is an early repayment charge (ERC)?, How does early settlement work?.

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Most businesses hit a tight month at some point — a late-paying customer, a seasonal dip, an unexpected cost. If you can see that a Credicorp payment will be hard to meet, the best move is to tell us before the due date, not after.

Why early contact matters

Before a collection date we have the widest range of options. Once a payment has failed, your account is already in arrears and some routes may have closed. Reaching out early shows good faith and gives us time to work with you.

What we can look at

• Moving your payment date to align with when receipts land.
• Discussing a short-term arrangement if your difficulty is temporary.
• Making sure you understand exactly what is due and when, so you can plan around it.

What we will not do

We will not pretend a difficulty does not exist, and we will not load on costs that are not in your agreement. We will be straight with you about what is owed and what the options are.

How to reach us

Contact our support team through your online account or by phone as soon as you can. The earlier the conversation, the more we can do. Remember that as an exempt business lender we sit outside the consumer-credit regime, so the protections of that regime do not apply — but a sensible, early conversation almost always leads to a better outcome for your company.

See also: Why contacting us early about cash-flow pressure helps your company, What if my company can only pay part of this month's amount? and Warning signs your company may be heading for payment trouble.

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If your company is thinking about pausing or reducing payments, it helps to understand the difference between a payment holiday and forbearance. They are not the same thing, and which one fits depends on your situation.

A payment holiday

A payment holiday is an agreed, planned pause or reduction in scheduled payments, usually for a defined short period. It is something a company might request to manage a known, temporary dip, such as a seasonal gap. Whether one is available depends on your product and agreement, and interest continues to be treated in line with your terms during the pause.

Forbearance

Forbearance is support we put in place when a company is in or heading into genuine financial difficulty. It is a response to a problem rather than a planned convenience, and it can take several forms, from a temporary reduction to a revised arrangement, depending on what your business can sustainably afford.

Which should you ask about?

• A short, predictable cash-flow gap — ask about a payment holiday.
• Sustained difficulty meeting payments — ask about forbearance.
• If you are unsure, just tell us what is happening and we will guide you.

Credicorp lends only to UK limited companies and LLPs for business purposes. As an exempt business lender we sit outside the FCA consumer-credit regime, so consumer forbearance rules and the Financial Ombudsman Service do not apply, but we still aim to treat businesses in difficulty fairly.

See also: Can my company request a payment holiday?, Does a payment holiday increase the total cost?, The difference between a payment holiday and a reduced-payment plan.

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A settlement figure is the exact amount your company needs to pay to close a Credicorp facility in full on a given day. It is the figure to use when you want to clear your Flex or Slice facility rather than continue with scheduled payments.

Why it is not the same as your balance

Your statement balance is a snapshot. The amount actually needed to settle changes day to day, because interest accrues on what you owe and your balance can move — especially on Credicorp Flex, where draws and repayments shift the figure. A settlement figure is calculated to a specific date so it is precise.

Key features

• It is valid only up to a stated date — pay after that date and the figure may be slightly different.
• It includes everything needed to close the account, so paying it leaves nothing outstanding.
• It reflects the rate shown in your offer and any charges set out in your agreement, with no surprise costs added.

How to use it

Request a settlement figure from us, then pay it by the method we confirm — usually bank transfer with your statement reference — before the date it is valid to. Once we receive it, we close the facility and confirm in writing. Cancel any Direct Debit only after we confirm there is nothing left to collect.

See also: How do I request a settlement figure?, How does early settlement work?, Can my company settle the facility early?.

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If a direct debit or standing order fails — typically because of insufficient funds — the transaction appears in your Transactions tab with a red 'Payment failed' label. The amount is reversed and your balance remains unchanged. We send an automatic email to the address on your account that same day.

What the dashboard shows

The Transactions entry shows the original scheduled date, the amount we attempted to collect, and the failure reason returned by your bank (for example 'Refer to payer' or 'Insufficient funds'). A banner also appears at the top of your account summary page until the missed amount is cleared. No other entries are added until a retry or a manual payment is received.

What happens next

We will attempt to contact you by email and, if we have one on file, by phone within one working day. You should arrange a manual transfer as soon as possible to clear the overdue amount. Once the payment is received, the failed-payment flag clears automatically and the banner disappears. Persistent failed payments may trigger a review of your facility, so it is always better to contact us proactively if you anticipate a problem before the due date rather than after a bounce.

Retry policy

We do not automatically re-present a direct debit after a failure, as a second attempt on an account without funds can incur bank charges for your company. Instead, we ask you to make a manual transfer or to contact us to agree the next step. This gives your company full control over when the funds leave your account.

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: Can I reschedule a single repayment?, How do I get a payment receipt or confirmation?, What happens if my repayment date falls on a bank holiday?

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If your company is in genuine financial difficulty, the worst thing to do is go quiet. Tell us what is happening and we can look at forbearance, a set of supportive arrangements designed to help a business through a sustained problem rather than a one-off short month.

What support can look like

• A temporary reduction in scheduled payments while your business recovers.
• A revised arrangement spreading the balance differently over time.
• A short, agreed pause where appropriate.

The right option depends on what your company can realistically and sustainably afford, so we work with you rather than applying a one-size-fits-all answer.

What we'll ask about

To find a suitable arrangement we usually need a clear picture of your company's current position, including income, outgoings and the outlook for the coming months. The more openly you share this, the better we can tailor support.

How to start

Contact your account team and say plainly that the company is struggling. There is no benefit in waiting until a payment fails. Acting early gives us more room to help and keeps your facility in better standing.

Credicorp lends only to UK limited companies and LLPs for business purposes. As an exempt business lender we sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply, but we still aim to treat businesses in difficulty fairly and constructively.

See also: What forbearance options are available for business borrowers?, Can my company request a payment holiday?, What happens when payments resume after a pause?.

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If a Direct Debit collection is returned unpaid by your bank — typically because of insufficient funds or a closed account — we will notify you by email and secure message on the same business day. The missed amount does not disappear; it remains due and interest continues to accrue on the outstanding balance.

What we do next

• Day 1: Failed collection notification sent to your registered email and portal inbox.
• Day 3: A second automated collection attempt is made via BACS if your mandate is still active (one retry is permitted under BACS rules).
• Day 5: If the retry also fails, a servicing adviser will contact you to arrange manual payment by faster payment or CHAPS.
• Day 10: If no payment or payment plan is agreed, the account is formally noted as in arrears and a default notice process may begin.

How to resolve it quickly

The fastest resolution is a same-day bank transfer for the overdue instalment. Our sort code, account number, and your unique payment reference are shown in the portal under Make a payment. Once received, we will clear the arrears flag within one business day. If you are temporarily short of funds, contact our servicing team early — payment plans are available and early contact always produces better outcomes than waiting.

What a failed payment does not do

A single missed payment does not automatically trigger early repayment demands or default interest on the whole balance. We follow a structured arrears process and communicate at each step before escalating. Repeated failures or a failure to engage may change that position (illustrative — specific terms are in your facility agreement).

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 set up the Direct Debit for my loan?, Can I overpay to clear my loan faster?.

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If you transfer more than the amount due in any given period, the excess is applied to your outstanding principal balance immediately. The effect on your facility depends on the product type.

Business Loan overpayments

On a fixed-term Business Loan, an overpayment reduces your remaining capital. By default, this shortens the remaining term while keeping your scheduled instalment amounts the same — you pay off the loan earlier and pay less total cost as a result. If you would prefer to keep the original term and have lower future instalments instead, contact us and we can recalculate your schedule. Some facilities include an early-repayment charge for overpayments above a threshold within a defined period; check your agreement or contact us to confirm whether this applies to you.

Credicorp Flex overpayments

For Credicorp Flex, any amount you repay above the minimum restores your available headroom immediately. If you overpay to the point of clearing the entire drawn balance, the facility remains open and you can redraw at any time up to your limit. There is no penalty for overpaying a Flex facility.

Credicorp Slice overpayments

Slice instalments are fixed at one quarter (or one third) of the billed amount plus the flat 6% fee per instalment. Sending extra funds ahead of a scheduled instalment will be held and applied when that instalment falls due. Contact us if you want to settle the full remaining balance early.

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: Can I split a repayment across two separate transactions?, Can I reschedule a single repayment?, How do I get a payment receipt or confirmation?

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If a scheduled payment is not collected — usually because the business account did not hold enough on the due date — your account is treated as in arrears until the amount is brought up to date. The most important thing is to contact us early; problems are far easier to solve before they build up.

What typically happens

• We attempt the Direct Debit on the due date. If it fails, we let you know.
• We may reattempt the collection or ask you to make the payment by transfer or card.
• Charges or additional amounts may apply as set out in your agreement. We will not invent costs — anything that applies is in the terms you signed.

What it does not involve

Because the loan is to your company and we take no personal guarantees from directors, a missed business payment does not expose directors' personal assets in the way a personally guaranteed debt would. It does, however, affect the company's record with us and can influence future borrowing decisions.

The single best step

Get in touch as soon as you know a payment will be short. We can talk through your options, agree a way forward, and help you avoid the situation getting worse. As an exempt business lender we are not covered by the Financial Ombudsman Service, but we do take a fair and constructive approach to companies that engage with us.

See also: What happens if my Direct Debit fails?, What happens if I miss a payment?, How is my payment schedule set up?.

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A Direct Debit can fail for several reasons — insufficient funds on the day, a recently cancelled mandate, a change at your bank, or a fraud-prevention block. Whatever the cause, a failed Direct Debit is treated as a missed payment until the amount is settled.

What we will do

When a Direct Debit fails, our payments team is notified the next working day. We will normally:

• send you a notification by email and/or letter;
• attempt to contact you by phone during office hours so we can agree a way to clear the missed payment quickly;
• hold off on any further collection attempts until we have spoken to you, where reasonable.

Any fees or charges that may apply are set out in your Business Loan Agreement — we will never apply a charge that is not in your agreement. We would always rather agree something sensible with you than apply a charge.

What you should do

If you know in advance that a Direct Debit will fail — for example a customer payment to the company has been delayed — please use the Payment Extension form before the due date. We can usually agree a short extension or move the collection date so the Direct Debit does not fail in the first place.

If a Direct Debit has already failed:

1. Check with your bank. The cause may be at their end — a card replacement, a fraud block, or a paused mandate
2. Pay the missed amount. Do this as soon as you reasonably can — by debit card on the Make a Payment page, or by bank transfer using the details on your statement
3. Cannot clear it in one go? Ask for a Payment Arrangement using the form on our Forms & Requests page

Repeated missed payments can have a knock-on effect on the company's business credit file — another reason to keep us in the loop early. Free, independent advice for businesses is available from Business Debtline (businessdebtline.org, 0800 197 6026) if you would like to discuss the company's wider position.

See also: Will Credicorp retry a Direct Debit that failed?, What happens if my company pays late? and How do I cancel or move a Direct Debit and still pay you?.

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Direct Debits move through the banking system on working days only. If your due date falls on a weekend or a UK bank holiday, the collection is taken on the next available working day rather than on the non-working day itself.

What this means in practice

• You do not need to do anything — the timing is handled automatically.
• The funds should be in your business account from the working day before the original due date, to be safe.
• Your Direct Debit notice and online account show the date the collection is actually expected.

Watch your account balance, not just the date

The thing that catches companies out is not the shifted date but assuming a transfer made over a weekend has cleared. Faster Payments are usually quick, but do not rely on a top-up made on a non-working day landing instantly. Leave a comfortable margin so the collection succeeds first time.

Paying by transfer instead

If you pay manually rather than by Direct Debit, send the payment so it arrives by the due date. If the due date is a non-working day, aim to have it land on the last working day before, so it is not late. If you are ever unsure when a collection will actually be taken, check your online account or contact our support team.

See also: How long does a payment take to clear?, What happens if I miss a payment? and How do I set up, change or cancel my Direct Debit?.

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When your scheduled repayment date falls on a UK public bank holiday or a weekend, collection moves to the next working day. No interest accrues for that short shift and no late-payment flag is raised.

How the date shift works

Our payment system uses the standard UK banking calendar. If your due date is a Saturday, Sunday, or a recognised bank holiday in England and Wales, the collection attempt is pushed forward to the next business day. For Credicorp Slice instalments, the same rule applies to each of the three or four weekly payments in your schedule.

Scottish and Northern Irish bank holidays

Some bank holidays differ between the four nations. We follow the England and Wales calendar for payment processing regardless of where your company is registered. If a date is a holiday in Scotland but not in England, collection proceeds on the original date.

Planning ahead around long weekends

Around Easter or late August you may have two or three consecutive non-banking days. It is worth ensuring your business account holds sufficient funds from the Friday before, because the direct debit or standing order will collect on the next available Tuesday. If you expect a cash-flow gap around a bank holiday, contact us before the holiday period so we have time to note your account.

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: Can I set up a standing order to cover my repayments?, What does a failed payment look like on my account?, Can I reschedule a single repayment?

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If your company has had an agreed payment holiday or a short pause on a Credicorp facility, payments will resume at the end of that period. Knowing what to expect makes the transition back to normal smooth and avoids a missed collection.

What changes when payments restart

When the pause ends, collections begin again on the agreed dates. Because the balance did not reduce during the pause and interest was treated in line with your agreement, your resumed payments, your remaining term, or the overall total may differ slightly from your original plan. We will have set this out when the pause was agreed, and the up-to-date schedule is available in your account.

Things to check

• Confirm the date your first resumed payment is due.
• Make sure your Direct Debit is active so the collection succeeds.
• Review the revised schedule in your online account.

If you are still not ready

If the gap turned out to be longer or deeper than expected, contact us before payments resume rather than letting a collection fail. We can discuss whether further support, such as forbearance, is appropriate for your company.

Facilities are available only to UK limited companies and LLPs for business purposes and fall outside the FCA consumer-credit regime.

See also: Can my company request a payment holiday?, Can I pause payments if my company hits a cash-flow gap? and What actually happens if my company misses a Credicorp repayment?.

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Business cash flow varies, and there may be a month when your company can only pay part of the scheduled amount on a Credicorp Flex or Credicorp Slice facility. The most important step is to contact us before the payment date rather than letting it fail.

Why telling us early helps

When you let us know in advance, we can discuss the options available to your facility and agree a way forward. A planned partial payment is far easier to manage than a missed or failed collection, which can put the facility into arrears.

What a partial payment does

• It reduces the amount due but does not clear the full scheduled payment.
• The shortfall remains outstanding and may affect the standing of your facility.
• It is applied in the allocation order set out in your agreement.

If this is a wider difficulty

A one-off short month is different from ongoing pressure. If your company is facing a sustained problem, ask us about forbearance options so we can look at a more suitable arrangement rather than a series of partial payments.

Facilities are provided only to UK limited companies and LLPs for business purposes and sit outside the FCA consumer-credit regime.

See also: Can I change my monthly payment date?, Can I change the date my payment is taken?, Does an overpayment lower my payment or shorten my term?.

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When Credicorp refunds an overpayment or a surplus, our standard practice is to return the money to the business bank account the original payment came from. Occasionally that account has since been closed, for example after the company changed banks. In that case we cannot simply send the refund back the usual way.

What happens instead

If the originating account is closed, contact your account team and let us know. We will arrange to verify your company's current business bank account before releasing the refund. This extra check protects your business by making sure the money goes to a genuine, verified company account rather than the wrong destination.

What we may ask for

• Evidence that the original account is closed.
• Details of your company's current business bank account.
• Confirmation from an authorised signatory or director on the facility.

Why the checks matter

Redirecting a refund to a different account is exactly the kind of change fraudsters target, so the verification step is there for your protection. It may add a little time, but it keeps your company's funds safe.

Facilities are provided only to UK limited companies and LLPs for business purposes and sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

See also: Will I get a refund if I overpay at settlement?, Who can authorise payment changes on my company's account?, Can I change my monthly payment date?.

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The Direct Debit Guarantee is provided by the banks and building societies that take part in the Direct Debit scheme. It is not a Credicorp product and it is not the same as consumer-credit protection. It applies to how a Direct Debit is collected, regardless of who the originator is.

What the Guarantee covers

• If we change the amount or date of a collection, we must give you advance notice in line with the scheme rules.
• If an error is made in collecting a payment, you are entitled to a full and immediate refund from your own bank.
• You can cancel a Direct Debit at any time by contacting your bank.

What it does not change

The Guarantee protects the payment mechanism. It does not turn your facility into a regulated consumer-credit agreement. Credicorp lends only to UK limited companies and LLPs for business purposes, so your facility sits outside the FCA regime — there is no Financial Ombudsman Service and no FSCS cover. The Direct Debit Guarantee still applies to your collections because it is a banking-scheme protection.

If you claim a refund under the Guarantee

If you reclaim a payment that was actually due, the amount remains owed on your account. Please tell us straight away so we can agree how to bring the account back in line and avoid it being treated as a missed payment.

See also: I think I was charged twice or for the wrong amount — what should I do?, Does FSCS protection cover my Credicorp facility? and Is Flex secured, and do directors need to give a guarantee?.

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Credicorp lends only to UK limited companies and LLPs for business purposes, so all repayments come from a business account in the company's name. We support a small number of reliable methods and we recommend Direct Debit for almost every borrower.

The methods we accept

• Direct Debit — the default for both Credicorp Flex and Credicorp Slice. Scheduled payments are collected automatically on the due date shown in your agreement.
• Bank transfer (Faster Payments or CHAPS) — useful for one-off overpayments or settling early, using the reference on your statement.
• Card payment — available through your online account for ad hoc payments where supported.

Why Direct Debit is our recommendation

Direct Debit means you never have to remember a due date, and a missed payment is far less likely. It is the lowest-effort way to keep your account in good order, which matters because your repayment history feeds the assessment of any future borrowing.

One thing to remember

Because we are an exempt business lender outside the FCA consumer-credit regime, your facility is not covered by the Financial Ombudsman Service or the FSCS. That does not change how you pay — it just means the protections that apply to personal borrowing do not apply here. If you are unsure which method suits your cash flow, contact our support team before your first payment is due.

See also: How is my payment schedule set up?, Can my company settle the facility early?, Who can make a complaint to Credicorp?.

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If your company pays by Faster Payments or CHAPS rather than Direct Debit, the payment reference is what lets us match the money to your facility. Get the reference right and the payment is allocated quickly; get it wrong and it can sit unmatched while we investigate.

Where to find your reference

• It is shown on your statement and in your online account, usually labelled as your payment or account reference.
• Use that exact reference — do not shorten it, add words, or use your company name on its own.

Our bank details

Only use the Credicorp account details shown in your online account or on an official statement. Be alert to fraud: if you ever receive new bank details by email or phone out of the blue, do not act on them. Check by logging in or calling us on a number you already trust. We will never ask you to send a payment to a personal account.

If you used the wrong reference

If you have already sent a transfer without the correct reference, contact us with the date, amount and sending account so we can trace and allocate it. Keeping the right reference on every transfer — especially overpayments and settlements — avoids delays and makes sure your balance updates when you expect it to.

See also: How do I pay by bank transfer?, How to update your business bank account details and Can I pay a Flex drawing from a different card or account?.

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Your payment schedule is set out in your Business Loan Agreement and repeated on every statement we send you. Payments are due on the dates shown, regardless of weekends or bank holidays.

If a due date falls on a weekend or bank holiday, make sure cleared funds reach us on or before that date. Because some payment methods take longer to settle than others, it is worth checking how long a payment takes to clear before you rely on a transfer landing on the day.

If you think you may miss a due date, please tell us before it passes — we can often help if we hear from you early. You can request a payment extension or a payment arrangement using our online forms.

See also: Can I change the date my payment is taken?, Can I make a one-off extra payment without changing my Direct Debit?, Can I pay a Flex drawing from a different card or account?.

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When a loan is drawn down, the first repayment date is set relative to the funding date — the day cleared funds reach the company's account. You do not have to work it out or guess: the precise date is calculated for you, written into your Business Loan Agreement, and shown on your repayment schedule before anything is signed.

How the schedule works across the term

Credicorp business loans run over a short term, anywhere from 14 to 84 days. Across that term your schedule sets out every collection: the date of each one, the amount due, and how it reduces the balance. Whether the loan repays in a single payment at the end of the term or in instalments along the way, the full picture is laid out for you in advance.

Crucially, none of this is a surprise sprung after funding. Every date and every amount is presented on the schedule before you sign — if a figure or a date is not clear to you, that is the moment to ask, not after the money has landed. Once you sign, the schedule you saw is the schedule that runs.

If the first payment date does not suit your cash flow

Short-term business borrowing is about timing, so it matters that the first collection lands when the company can comfortably meet it. If the proposed date sits awkwardly — say it falls just before a big customer payment is due in, or before payroll clears — tell us. The best time is before you sign, while the schedule can still be shaped around the company's expected cash flow.

1. Before you sign. Raise it during the offer stage. We can often align the first collection with the company's expected income rather than the calendar default.
2. After funding, before the date falls due. If the timing only becomes a problem later, contact us ahead of the first collection. Use the Payment Extension Request form so we can look at moving the date or agreeing a short extension. We can usually help when we hear from you early — what we cannot do is unwind a collection we were never told about.

How collection works on the day

Most loans repay by Direct Debit on the dates shown in your schedule, collected automatically so you do not have to remember to act. You can also pay by debit card if you prefer to send a payment yourself — for example to clear a collection early or to top up after a shortfall. Card payments are normally applied the same working day, while Direct Debit and bank transfers can take longer to settle, so timing matters around a due date.

For the full breakdown of each method and how quickly it lands, see how long a payment takes to clear. If you are paying close to the deadline, a same-day debit card payment is the surest way to have it applied in time.

If funds are not available on the first collection

If a Direct Debit cannot be collected because the funds are not there on the day, it is treated as a missed payment until it is settled — there is nothing unusual or alarming about that, and the path back is straightforward. What matters most is talking to us early.

• If you know in advance the first collection will be tight, contact us before the date using the Payment Extension form — we can often move the date so the Direct Debit does not fail at all.
• If a collection has already failed, see what happens if my Direct Debit fails for exactly what we do next and how to clear it.
• If the company's wider position means keeping up will be a real struggle — not just a one-off timing issue — read I am struggling to pay, what should I do?. We can look at a payment arrangement, a short extension or a longer-term variation.

See also: Can I change the date my payment is taken?, Can I make a one-off extra payment without changing my Direct Debit?, Can I pay a Flex drawing from a different card or account?.

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Because the facility belongs to your company, changes to payment arrangements can only be made by someone authorised to act for the company. This protects the business from unauthorised changes to where money is collected from or how it is repaid.

Who counts as authorised

• A director of the limited company, or a designated member of the LLP.
• An employee or representative the company has formally authorised to manage the account with us.

Why we verify

Before we change a Direct Debit, move a payment date, take a settlement instruction or update bank details, we confirm we are dealing with an authorised person. This guards against fraud and against someone making changes they should not. It also means the company has a clear record of who instructed what.

Setting up Direct Debit instructions

The Direct Debit instruction itself must be authorised by someone able to set up Direct Debits on the company's bank account. If your bank requires more than one signatory to approve Direct Debits, factor that in when setting up or changing your collection.

Adding or removing authorised people

If the people who can act for the company change — for example a director leaves — tell us so we can keep your account secure and up to date. Contact our support team and we will confirm what we need to update your records.

See also: Can I change my monthly payment date?, Does a payment holiday increase the total cost?, What if my company can only pay part of this month's amount?.

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If a Direct Debit collection is a different amount from last time, it is usually for a straightforward reason tied to how your facility works. We always renotify you of a changed amount before it is collected, in line with the Direct Debit scheme.

Common reasons

• You made an overpayment. A lower balance can reduce a future scheduled amount.
• Your Credicorp Flex balance moved. Because Flex collections reflect what you have drawn and repaid, the amount due varies between cycles.
• You changed your payment date. A longer or shorter gap between collections can change how the next one is calculated.
• An earlier payment failed. A later collection may include an amount to bring the account up to date.

What has not changed

A different collection amount does not mean your interest rate has changed. The rate is the one shown in your offer; what varies is the balance and the schedule it applies to.

If it still does not look right

Check your latest statement and Direct Debit notice first, as these explain the figure. If the amount genuinely looks wrong, contact us before the collection date if you can, so we can review it. Remember the Direct Debit Guarantee entitles you to a refund from your bank if a collection is taken in error.

See also: How to set up or change a Direct Debit with Credicorp, Can I make a one-off extra payment without changing my Direct Debit? and How do I set up, change or cancel my Direct Debit?.

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If a debit card payment to your Credicorp account was declined on the Make a Payment page, the good news is that nothing has gone wrong with your loan. A decline means the payment was stopped before any money moved — your balance is unchanged, and you can try again as soon as the cause is cleared. The great majority of card declines are triggered by the company's own bank or card provider, not by us.

Common reasons a business card is declined

The card networks return a short reason code that we are not always able to see in full. The most common causes are:

• Daily limit reached — many business debit cards have a per-transaction or per-day spending limit. A larger repayment can exceed it even when the funds are there.
• Fraud-prevention block — banks often pause an unfamiliar or larger-than-usual online payment until the cardholder confirms it. This is the single most frequent cause.
• Card details — an expired card, a recently reissued card, or a mistyped card number, expiry date or security code.
• Available funds — the payment is more than the cleared balance or agreed overdraft on the account at that moment.
• Wrong billing address — if the postcode or address entered does not match what the bank holds for the card, the check can fail.
• Card type not accepted — we take UK business debit cards. Credit cards, prepaid cards and some commercial cards may be declined.

What to do next

Work through these in order — most companies are paying successfully within a few minutes:

1. Check with the bank or card provider first. A quick call (or a tap in the banking app) will usually tell you exactly why the payment was stopped and let you approve it.
2. Confirm the card details on the Make a Payment page — number, expiry, security code and the billing postcode registered to the card.
3. If a fraud block was the cause, ask the bank to release it, then retry the same payment.
4. If the amount is over a daily card limit, either ask the bank to raise it for one transaction, or split the payment, or pay by bank transfer instead using the details on your statement.
5. Make sure the person paying is authorised to use the card and to make payments on the account — see who can authorise payment changes on the account.

A declined payment is never recorded as a missed payment in its own right, and it has no effect on the company's business credit file. It simply did not go through.

If the card keeps being declined

If you have checked with the bank and the card is still refused, you do not need to keep retrying. You can pay another way and still meet your due date:

• Bank transfer — pay from the company account using the sort code, account number and reference shown on your statement.
• Direct Debit — set one up so future payments are collected automatically and you avoid card limits altogether. See how can I make a payment for every option.

If a Direct Debit rather than a card was declined, that is handled differently — read what happens if my Direct Debit fails.

Did my payment go through or not?

Occasionally a card payment looks like it failed in your browser but actually reached us, or the reverse. If you are unsure whether a payment landed, do not assume — check before you pay again so you do not pay twice. The steps are in how do I check whether a payment has reached you.

Still stuck? Use the Payment Support form, or reach us through the Contact Us page, and we will help you get the payment in. Please never send card details by email — we will only ever take a card on the secure Make a Payment page or over the phone.

See also: Can I change the date my payment is taken?, Can I make a one-off extra payment without changing my Direct Debit?, Can I pay a Flex drawing from a different card or account?.

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Yes — how your company manages its repayments is one of the things we consider when you apply to borrow again or ask to increase a Credicorp Flex or Slice facility. A clean, on-time record works in your favour; a pattern of late or missed payments counts against it.

What we look at

• Whether scheduled payments were collected on time.
• How quickly any arrears were brought up to date.
• Whether you contacted us early when there was a difficulty.

It is the pattern that matters

A single failed collection that you put right quickly is very different from repeated missed payments. We look at behaviour over time, not just one event, and engaging with us early is itself a positive signal.

Reporting beyond Credicorp

Information about how your company manages credit may be shared with credit reference agencies in line with your agreement and our privacy notice. That can affect how other lenders view your company too, so a strong record has value beyond your relationship with us.

The takeaway

Protecting your payment history is one of the cheapest, simplest things a company can do to keep future finance options open. If a payment is going to be difficult, contact us before the due date so we can help you avoid a mark you would rather not have.

See also: How arrears affect your company's future borrowing with us, What happens if my company misses a payment?, What happens if my Direct Debit fails?.

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A Direct Debit can fail for several reasons — most often not enough funds in the business account on the day, but sometimes a cancelled instruction or a bank issue. When this happens we let you know, and we may attempt to collect again.

What usually happens after a failure

• We notify you that the collection did not succeed.
• We may reattempt the Direct Debit, or ask you to pay another way.
• Your account is in arrears until the amount is brought up to date.

The fastest way to put it right

Rather than waiting for a retry, you can clear the missed amount straight away by bank transfer using your statement reference, or by card through your online account where supported. Tell us once you have done so, so we do not also collect it on a retry and leave you overpaid.

If money was simply not there in time

Make sure the funds are in place before any retry date, and consider whether your payment date suits your cash-flow cycle — moving it may prevent a repeat. If the failure points to a deeper cash-flow problem, contact us early; we would much rather agree a way forward than see collections fail repeatedly. Note that any charge for a failed payment, if one applies, is the one set out in your agreement.

See also: What happens if my Direct Debit fails?, How to set up or change a Direct Debit with Credicorp and What does it mean to be in arrears?.

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When your company settles a Credicorp facility, it should pay the exact settlement figure quoted for the payment date. If the amount received turns out to be slightly more than needed to close the facility, the surplus becomes a credit and can be returned to you.

How a post-settlement refund works

Once the facility is closed and the incoming payment has cleared, we identify any surplus over the settlement figure and refund it to the business bank account the payment came from. Returning funds to the originating account is a standard safeguard.

Why a small surplus can happen

• The payment was based on a figure quoted to a later date than it actually arrived.
• A scheduled Direct Debit and a manual settlement crossed over.
• Rounding when the transfer was set up.

Avoiding it

Pay the exact settlement figure on or before its expiry date, and if you have an active Direct Debit, check with us whether to pause the next collection so it does not overlap with your settlement payment. If a surplus does arise, contact us and we will arrange the refund.

Facilities are provided only to UK limited companies and LLPs for business purposes and sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

For the wider settlement flow, see requesting a settlement figure, how refunds of overpayments work and how to pay off your facility in full.

See also: Can I change the date my payment is taken?, Can I make a one-off extra payment without changing my Direct Debit?, Can I pay a Flex drawing from a different card or account?.

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