If a direct debit did not come out on the expected date, act quickly — unpaid amounts accrue daily interest and a missed-payment status can affect your company's credit profile.
Why a direct debit can fail
- Insufficient funds — the most common cause. The direct debit attempted on the date shown but the available balance was too low.
- Mandate cancelled — someone at your company may have cancelled the mandate through your business bank's online banking. A new mandate needs to be set up.
- Bank account changed — if you have moved to a new business bank account, the direct debit is no longer linked to the correct account.
- Technical processing delay — very occasionally a bank returns a processing error. This is rare; check your bank's statement to confirm no debit was made.
What you should do now
- Log in to your portal at clients.credicorp.co.uk and check the status of the outstanding payment under your loan summary.
- Make a manual payment if funds are available — use the Make a payment option in your portal to clear the missed amount immediately and stop further interest accruing.
- Contact us if you cannot pay immediately — use the Payment difficulty form. Acting early gives us more options to help.
- Re-set up your direct debit if the mandate was cancelled or the bank account changed. Use the portal or the General support enquiry form to request a new mandate.
Do not ignore a failed direct debit
We will notify you by email when a payment fails. Daily interest continues to accrue on the outstanding amount, and a persistent unpaid status may be reported to business credit agencies after a period set out in your agreement. Contact us as soon as possible if you cannot pay.
For information on requesting more time, see how to request a payment arrangement. If you are experiencing broader financial difficulty, see what to do if you are struggling to pay.
See also: How to set up a direct debit, What to do if you miss a payment, How to request a payment arrangement.