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?.