Cancelling a Direct Debit is your right at any time — but it is important to understand it stops the collection method, not the obligation to pay. Run through this before you cancel.
Before you cancel
- Make sure the balance is settled, or you have another way to pay. If the facility is still running, cancelling the Direct Debit leaves you needing to pay each due date manually. See how to cancel a Direct Debit and still pay.
- Confirm no collection is imminent. Cancelling just before a due date can cause that collection to fail. Time it for a gap, or arrange the manual payment first.
- Set up the alternative. A standing order or planned transfers should be ready before, not after, you cancel. See paying while your Direct Debit is cancelled.
The one time it's simply tidying up
If the facility is fully repaid and closed, cancelling the mandate afterwards is just housekeeping — see confirming your final payment cleared the loan. Never cancel to dodge a payment that is genuinely due — talk to us instead: if you can't make this month's payment.
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 cancel a Direct Debit and still pay, Paying while your Direct Debit is cancelled, What payment methods can my company use?.