How do direct debits work at Fundtap?

When you fund an invoice, Fundtap automatically schedules a direct debit from your nominated bank account on the repayment due date. Repayments are collected automatically — you don't need to take any action.

Direct debits are processed via GoCardless. GoCardless may email you ahead of the payment date. You will also receive a notification text message from Fundtap 3 days in advance.

If your customer is going to be late in repaying you, you can log in to your Fundtap portal to extend the repayment date by up to 7 days (or 14 days after two successful funding rounds). Alternatively, please contact our team at info@fundtap.co for further assistance.

Note: If your direct debit fails due to insufficient funds, please contact us at info@fundtap.co as soon as possible so we can help you manage the repayment.