If you have applied for a loan and the money has not arrived, a pending DebiCheck request is often the reason. DebiCheck is a banking system that makes sure you agree to a debit order before it can be collected from your account.
What DebiCheck is
DebiCheck is a security feature for debit orders. The lender sends the debit order details, such as the amount and date, to your bank. Your bank then asks you to approve them before the debit order can run. Without your approval, the lender cannot collect.
How it works with a loan
- You apply and are approved by the lender.
- The lender submits a DebiCheck request to your bank.
- You receive a prompt, usually on your banking app, by SMS or at a branch or ATM, depending on your bank.
- You check the amount, date and lender name, then approve.
- Some lenders only pay out the loan once approval is complete.
Why it helps you
- You see the exact amount and date before agreeing.
- Debit orders you did not approve are blocked.
- It reduces the chance of unauthorised or inflated deductions.
Why your approval may be delayed
- The prompt expired before you responded.
- Your banking app notifications are turned off.
- Your bank needs you to approve in a different way.
- Your contact details with the bank are out of date.
Contact your bank or the lender if the request does not appear. Approval windows can be short, so act quickly.
What to check before you approve
- The lender name matches the lender you applied with.
- The instalment and date match your signed quote.
- The number of payments is correct.
If anything looks different, reject the request and ask the lender to explain.
FAQ
Does DebiCheck cost me anything? Fees depend on your lender and bank, so check the agreement.
Can I cancel a DebiCheck mandate? You can speak to your bank and lender, but cancelling does not cancel the debt. Pay as agreed or contact the lender to arrange a solution.