Every Credicorp facility that repays by Direct Debit has a collection date set out in your Business Loan Agreement and repeated on each statement. Knowing exactly how that timing works makes it far easier to keep the collection account funded and avoid a failed payment.
When the collection actually leaves your account
We submit the Direct Debit instruction to your bank a few working days before the due date, and the funds are debited on the due date itself — or the next working day if the due date falls on a weekend or bank holiday. The amount and date are never a surprise: both appear on your schedule when you sign, and again on every statement.
The advance notice you always get
Under the Direct Debit Guarantee we give you advance notice of the amount and date before the first collection, and before any change to either. That notice period is your window to make sure cleared funds are sitting in the account. For the detail, see how much notice you get before a Direct Debit is collected and what the Direct Debit Guarantee covers.
Keeping the timing working for you
If the collection date sits awkwardly against your cash-flow cycle — it lands before your main customer receipts rather than after — you can ask us to move it. See can I change my payment date. The one habit that prevents almost every problem is checking the collection account a couple of days ahead, as covered in keeping enough funds in your account for collection.
Credicorp lends to companies rather than to you personally, so this is business finance outside the consumer-credit regime. That does not change the practical steps below.
See also: When is my payment due?, What happens if my Direct Debit fails?, What if a payment falls on a weekend or bank holiday?.