Fees & charges

Is there a fee to change the account my payments come from?

Moving the Direct Debit that collects your repayments to a different company bank account is a routine administrative change, and it is not the kind of thing that should cost you a fee.

The change itself

Updating the collecting account is a standard servicing request. See changing the account your payments come from for the steps. There is no interest or borrowing implication — it is simply where the money comes from.

Where costs could arise indirectly

A cost only arises if the change is mishandled and a collection fails during the switch — a failed Direct Debit can carry a bank fee and our missed-payment charge. That is why you keep the old account able to pay until the new instruction is confirmed. See what a missed Direct Debit costs and how to avoid a failed-payment fee.

Check your own agreement

Your Business Loan Agreement is the definitive statement of what fees can apply to your facility. See what fees could apply to my 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: Changing the account your payments come from, Are there fees for changing a payment date?, What fees could apply to my facility?.

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