Switching your company's bank account does not have to disrupt your repayments, but the Direct Debit collecting them needs to point at the right account on the right date. What happens depends on how you switch.
If you use the Current Account Switch Service (CASS)
The seven-working-day CASS process is designed to move Direct Debits automatically, including ours, and to redirect any collections presented to the old account. In practice this works well — but it is not a reason to go quiet. Tell us you are switching so our records stay accurate, and check the first collection from the new account yourself once the switch completes.
If you move manually
If you open the new account and move things across yourself rather than using CASS, the Direct Debit will not follow automatically. You need to set up a fresh instruction with us against the new account before you cancel the old one, as set out in how to move your collection account to a new bank.
The one thing that matters
However you switch, keep at least one working instruction able to collect until we confirm the new one is live. A gap between the old Direct Debit being cancelled and the new one taking effect is where a missed payment happens. If a due date falls in that window and you are unsure, contact us — see what happens if a loan payment fails.
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: How to move your collection account to a new bank, Can I pay from a different bank account?, How to set up or change a Direct Debit.