Invoice Finance Switching and Exit Checklist
Our exit cost calculator tells you what switching will cost. This checklist covers the process itself, the practical steps most UK businesses need to work through to switch provider without a gap in funding. Print it and work through it alongside your notice period.
- Read your existing contract in full and identify the notice period, minimum term end date, and any early termination fees before contacting alternative providers.
- Obtain and review your current aged debtor report to identify any ineligible invoices, concentration issues, or disputed balances that could affect the new facility.
- Gather at least two years of management accounts or filed accounts, six months of bank statements, and sample invoices with supporting purchase orders for new provider due diligence.
- Collect at least three formal quotes and compare total facility cost using a worked example based on your actual monthly turnover and average debtor days.
- Agree a same-day refinance date with both your outgoing and incoming providers and confirm in writing the ledger value, repayment amount, and timing of funds.
- Send written notification to all customers with new payment details at least two weeks before the old facility closes, and update bank account references in your invoicing software.
For the full reasoning behind each step, notice periods, termination fees, same-day refinance mechanics and customer notification, see our full switching guide. To put a number on what switching will cost you, use the exit cost calculator.