Clearing a Credicorp Flex or Credicorp Slice facility in full takes a few simple steps. The key is to pay the exact settlement figure rather than a statement balance, so the account closes cleanly with nothing left running.
Step by step
- Request a settlement figure for the date you intend to pay.
- Make the payment for that exact amount using the reference we provide.
- Allow time for the funds to clear in full.
- We confirm closure in writing once cleared funds are received.
Why not just pay the statement balance?
A statement shows the balance at a point in time. Interest can accrue between statements under your agreement, so paying an old balance may leave a small shortfall that keeps the facility open. The settlement figure is calculated to your chosen date and is the only amount that closes it fully.
After closure
Once the facility is closed, any Direct Debit linked to it is cancelled so no further collections are taken. Keep our written confirmation for your company records.
Facilities are provided only to UK limited companies and LLPs for business purposes and sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.
See also: Can I pay my loan off early?, What is a settlement figure? and Can my company settle the facility early?.