The first payment on a new facility is the one people most want to get right. Once you have seen one collection go through cleanly, the rest is routine. Here is how to make the first one uneventful.
Getting the first collection right
- Confirm the date and amount. Check when the first collection is due and for how much — both are on your schedule and your first Direct Debit notice. See when will my first payment be taken.
- Fund the account ahead of time. Make sure cleared funds are in the collection account a couple of days before the date. See keeping enough funds in your account for collection.
- Confirm it was taken. After the date, check the collection went through and applied. See how to check whether a payment has reached us.
If the first date does not suit your cash flow, ask to move it — ideally before you sign. See can I change my payment date and setting up a Direct Debit for a new facility.
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 will my first payment be taken?, Setting up a Direct Debit for a new facility, When is my payment due?.