Your direct debit repayment schedule is directly linked to the terms of the invoice you submitted for advance. Here’s how it works:
The repayment is set based on the agreed terms with your buyer. For example, if the invoice term is 30 days, your repayment due date will be scheduled a few days (usually 8 days) after the 30-day term. This buffer allows time for your buyer to pay you before repayment is taken.
Each invoice can have its own repayment term, ranging from a minimum of 10 days to a maximum of 120 days. The direct debit date will be linked to each individual invoice submitted.
Important to remember that:
You can make early repayments at any time to save on fees.
If your buyer is late in paying, you can request a repayment extension, provided you supply evidence of the delay.