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?.