A DebiCheck mandate is required before your credit can be disbursed.
When your credit application is approved and you accept a credit offer, Fido will create a DebiCheck mandate linked to your nominated bank account. You will then receive a notification from your bank asking you to authorize the mandate.
This authorization allows repayments to be collected from your approved bank account in line with your credit agreement. Your credit cannot be disbursed until the DebiCheck mandate has been successfully authorized.
Important to know
For your peace of mind, the DebiCheck mandate is used solely for managing your credit repayments. It does not give Fido access to your bank account, transaction history, account balance, or any additional personal banking information beyond what is required to process authorized repayments. Your banking information remains protected and secure through your bank's regulated systems.
