How do direct debits work at Fundtap?

How do repayments work?

When you fund an invoice, Fundtap automatically schedules a direct debit from your nominated bank account on the invoice due date — no action is needed on your part.

How will I be notified before a repayment?

Direct debits are processed via GoCardless, a trusted third-party payment processor. You will receive the following notifications before your repayment is collected:

• An email from GoCardless ahead of the payment date.
• A text message from FundTap a few days before the repayment date.

Can I extend my repayment date?

Yes. If your customer is going to be late in paying you, follow these steps:

1. Log in to your FundTap portal and navigate to the relevant invoice.
2. Select the option to extend the repayment date and choose a new date within the allowed range.
3. Confirm the extension.

Extension limits vary based on your account history — typically up to 7 days, or up to 14 days once you have completed two successful funding rounds. Log in to your FundTap portal to see the options currently available to you.

If you need further assistance, contact our team at info@fundtap.co.

What happens if my direct debit fails?

If your direct debit fails for any reason (for example, due to insufficient funds), contact us immediately at info@fundtap.co so we can help you manage the repayment and avoid any additional fees or charges. Please refer to your FundTap agreement for the applicable late payment fee schedule.