Direct Debit with multifi

Simple, Secure Payments for Your Business Credit

At multifi, we’re committed to taking the faff out of finance. That’s why we use Direct Debit to make your monthly fee and repayment process as smooth and hassle-free as possible.

Why We Use Direct Debit

Direct Debit provides you with a simple, secure, and convenient way to manage your multifi credit account payments:

• Hassle-free payments: Your monthly fees and repayments are automatically collected, so you never have to worry about missing a payment
• Complete transparency: We’ll always notify you before taking any payment
• Total flexibility: Your payments adjust with your credit usage
• Ultimate security: You’re protected by the Direct Debit Guarantee

The Direct Debit Guarantee

When you set up a Direct Debit with multifi, you’re protected by the Direct Debit Guarantee. This industry-wide guarantee ensures that all organizations using Direct Debit are vetted and monitored by banks, providing peace of mind.

Here’s what the Direct Debit Guarantee covers:

• This Guarantee is offered by all banks and building societies that accept instructions to pay Direct Debits
• If there are any changes to the amount, date or interval of your Direct Debit, GC re: multifi will notify you three working days in advance of your account being debited or as otherwise agreed
• If you request GC re: multifi to collect a payment, confirmation of the amount and date will be given to you at the time of the request.
• If an error is made in the payment of your Direct Debit, by GC re: multifi or your bank or building society, you are entitled to a full and immediate refund of the amount paid from your bank or building society.
• If you receive a refund you are not entitled to, you must pay it back when GC re: multifi asks you to.
• You can cancel a Direct Debit anytime by contacting your bank or building society (written confirmation may be required). Please also notify us.

Managing Your Direct Debit

Setting up a Direct Debit with multifi is simple. When you sign up for your multifi credit account, we’ll guide you through setting up your Direct Debit instruction.

If you need to change your Direct Debit arrangement or have any questions, our team is here to help. Contact us at support@multifi.co.uk 

Direct Debit FAQs

Q: When will payments be taken from my account?
A: Your monthly platform fee (0.3%-0.5% of your credit limit) will be collected on the same date each month. Interest on used funds (2.49%-3.49% per 30 days) will be collected according to your agreed repayment schedule. Credit repayment schedules are calculated and presented when you pay a payee from your multifi credit account.

Q: Will I be notified before a payment is taken?
A: Yes, we always notify you at least three working days before making a payment from your account.

Q: How do I cancel my Direct Debit?
A: You can cancel a Direct Debit anytime by contacting your bank or building society. Please also notify us so we can discuss alternative payment arrangements.

At multifi, we’re committed to making business finance simple, transparent, and accessible. Our Direct Debit system is just one of the ways we’re taking the faff out of finance for UK businesses.

Learn more about Direct Debit.