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?.