How does my credit account work?

Why would I want a credit account?

Having an account will allow you to be able to control and free up your cashflow. You can ask for flexible terms and receive ‘buy more, save more’ pricing.

How do I open an account?

Apply for a credit account by completing this application form. Once you have filled in your details, submit your application.  

Your application will then be assessed - we use Credit Safe for all our credit intelligence.  As soon as it has been approved, you will be notified via email.

Can I have a 60-day account?

When you open an account, you will automatically be given a 30-day account. You can request a 45-day or 60-day account, but this will need to be approved separately.

How will I know what to pay and when?

Once your ordered goods have been despatched for delivery, an invoice is created. Your invoices will be emailed to you about once a week. 

Twice a month (mid-month and the beginning of the month) you will receive a statement of your account. 

If your account is a 30-day term account, you will need to pay the amount in the 60 day column. Payment is expected after you receive your beginning of the month statement.

What must I do if I cannot pay my account?

If you find yourself in a tight spot with cashflow and cannot pay your account, contact us at [email protected] and let us know.  We can only work with you if we know what the situation is.

What happens if my non-payment continues?

If no payment has been made for 60 days after its due date, we will unfortunately have to put your account on stop/hold until a payment is made.  

This is as per our credit insurance policy. We really don’t like to get to this stage with our customers, but we need to follow this process to mitigate our risk.

What happens if my account reaches 90 days non-payment?

If still no payment has been made, we will now, as per our credit control insurance policy, unfortunately be obliged to report your account to our credit insurers.  

When we report your account, we send a claim to our insurance company for your outstanding money, and they in turn will send you a claim with fees and interest. 

Once we send our claim email to our credit insurers, we lose your credit limit and cannot easily get it reinstated.  

We will then have to work with a tight discretionary limit or a cash account, dependant on your circumstances.  

We really don’t like to get to this stage with our customers, as it’s a loss for both parties, but we do need to follow this process to mitigate risk. 

At Multifix are happy to to do business with you. We are also happy to help your through tough times, so don’t hesitate to contact [email protected] and let us know your situation. We can work it through together.