A Direct Debit Advance Notice is a notification sent from Kravings service provider GoCardless to inform a customer of an upcoming Direct Debit payment. This notice is after the loan has been accepted and before the first Direct Debit payment or whenever there’s a change in the amount, date, or frequency of an existing Direct Debit.
The purpose of the advance notice is to give the customer time to review the details and ensure sufficient funds are available in their account.
Key details in a Direct Debit Advance Notice usually include:
Payment Amount: The specific amount that will be debited from the customer’s account.
Payment Date: The date on which the direct debit will be taken.
Frequency of Payment: Whether the payment is a one-time charge or part of a recurring payment plan (e.g., monthly).
Reference Information: A reference number or description to help identify the payment on the customer’s bank statement.
Changes to Existing Payments: If the amount or frequency of an ongoing direct debit changes, the notice will outline the new terms.
Advance notices are provided several days before the payment is due , giving customers time to raise any issues or ensure that their account can cover the payment. This process is part of the Direct Debit Guarantee, which ensures customers are informed about any changes and can request refunds if unauthorised payments are taken.