A simpler way to
manage payments
How your Stocking Plan payments appear on your bank statement is changing.
Single Direct Debits is here
We’ve simplified how your Direct Debits appear on your bank statements by reducing the number of individual transactions. Single Direct Debits group your transactions, making payment tracking and cash flow management easier.
Vehicles settled together
Vehicles settled on the same‑day are grouped into one Direct Debit. This payment includes the vehicle amount, VAT and any applicable disbursements.
One Direct Debit per day
You’ll never see more than one Direct Debit taken from your bank account.
Monthly charges combined
On charges day, monthly fees and any settled vehicles are taken in a single Direct Debit.
A seamless switchover
The move to Single Direct Debits is automatic and requires no action from you. Because payments will appear differently on your bank statement, you may need to update how you reconcile your accounts. This change reduces the number of transactions, making reconciliation clearer.
You can view a breakdown of your individual transactions within Payment History on SFP-W. For step-by-step guidance on where to find this, please refer to our Dealer Guide.
Key things to note:
- The bank statement transaction dates will match the date paid
- VIN numbers will no longer appear on your bank statements
For more guidance on using Payment History, please refer to page 15 of our Dealer Guide.
Frequently asked questions
01 Who can help me through this transition?
If you need any support during the transition to Single Direct Debits, your Account Manager and our Customer Service team are on hand to help.
02 Can Single Direct Debits be removed from my account?
NextGear Capital may, in its sole discretion, remove single direct debits if we identify concerns in how your stocking facility is being used or managed (such as, for example, missed direct debits or poor audit results). If this happens, your Account Manager will inform you that your payments will return to multiple direct debits and confirm the date this change will take effect.
03 Where can I find a full breakdown of my payments?
You can view a breakdown of your individual transactions within Payment History on SFP-W. For step-by-step guidance on where to find this, please refer to our Dealer Guide.
Key things to note:
- The bank statement transaction dates will match the date paid
- VIN numbers will no longer appear on your bank statements
