Because the facility belongs to your company, changes to payment arrangements can only be made by someone authorised to act for the company. This protects the business from unauthorised changes to where money is collected from or how it is repaid.
Who counts as authorised
- A director of the limited company, or a designated member of the LLP.
- An employee or representative the company has formally authorised to manage the account with us.
Why we verify
Before we change a Direct Debit, move a payment date, take a settlement instruction or update bank details, we confirm we are dealing with an authorised person. This guards against fraud and against someone making changes they should not. It also means the company has a clear record of who instructed what.
Setting up Direct Debit instructions
The Direct Debit instruction itself must be authorised by someone able to set up Direct Debits on the company's bank account. If your bank requires more than one signatory to approve Direct Debits, factor that in when setting up or changing your collection.
Adding or removing authorised people
If the people who can act for the company change — for example a director leaves — tell us so we can keep your account secure and up to date. Contact our support team and we will confirm what we need to update your records.
See also: Can I change my monthly payment date?, Does a payment holiday increase the total cost?, What if my company can only pay part of this month's amount?.