Direct Debit — an instruction your company gives so that Credicorp can collect each Slice instalment automatically from your business bank account on the agreed dates.
Why Slice uses it
Direct Debit means you do not have to remember to make each payment manually. Once the schedule is set, instalments are collected on the dates in your offer, which keeps your repayments on track with minimal effort.
Key points
- The Direct Debit is set up against your UK business bank account
- Collections happen only on the dates and amounts in your agreed schedule
- Keeping the account funded ahead of each date avoids a failed collection
If a date will be tight
If you know a collection date is going to be difficult, contact us before it falls due. It is far better to arrange something in advance than to let a Direct Debit fail, which can trigger a missed-instalment charge as described in your agreement.
Related terms
Each Direct Debit collects one instalment from your overall repayment schedule for that Slice.
See also: How long does a payment take to clear?, Can I change my Slice instalment dates? and What information do I need to apply for Slice?.