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Terms and conditions for direct debits

All the normal Direct Debit safeguards and guarantees apply.

We shall not make a change in the amount, date or frequency to be debited without notifying you at least 5 working days in advance of your account being debited.

In the event of any error, you are entitled to an immediate refund from your Bank or Building Society.

You have the right to cancel a Direct Debit Instruction at any time simply by writing to your Bank or Building Society, with a copy to us.

You confirm and verify that You are the account holder of the Bank or Building Society account number, sort code and account name that you have provided and You are the only person required to authorise debits from such account and are therefore the Payer. 

You can contact us by post, email or telephone via the information in Contact Us. Or via LiveHelp chat on the website pages.

The details that you have entered to set up the Direct Debit Instruction are:
Name of Account Holder, Branch Sort Code, Bank Account Number, Amount to be debited from Bank Account (if known), Date each month for collection (or other collection frequency). Please note that the bank account number and sort code on the direct debit may differ from those You provided in the case of a bank using a Service Centre for central direct debit processing.

The company name which will appear on your bank statement against the Direct Debit will be "FCC re: LendLoanInvest" and the Service User Number: 288376.

The details of your Direct Debit Instruction will be confirmed to you by e-mail within 3 working days or received by you no later than 10 working days before the first collection.

copy of Your Direct Debit Instruction can be viewed in Your loan account (for a borrower) or via user menu item "Pay In & Withdraw Money" > Review Direct Debit Instruction (for a lender) and may be printed if you wish.

Here is the Direct Debit Guarantee for your information:

The Direct Debit Guarantee

  • This Guarantee is offered by all Banks and Building Societies that take part in the Direct Debit Scheme. The efficiency and security of the Scheme is monitored and protected by your own Bank or Building Society.
  • If the amounts to be paid or the payment dates change LendLoanInvest will notify you 10 working days in advance of your account being debited or as otherwise agreed.
  • If an error is made by FCC re: LendLoanInvest or your Bank or Building Society, you are guaranteed a full and immediate refund from your branch of the amount paid.
  • You can cancel a Direct Debit at any time by writing to your Bank or Building Society. Please also email a copy of your letter to us. 

Thank you very much for your Direct Debit Instruction.