How do I activate my direct debit mandate?

A direct debit mandate is an authorization for a lender to collect loan repayments automatically from your bank account on agreed dates. Once it is active, you do not need to remember to send each repayment manually.

To activate a direct debit mandate the user has to follow the steps below:

• The lender initiates the eMandate setup on the Lendsqr platform or you initiate a mandate creation on your lenders’ web or mobile app.
• Send a ₦50 transfer from the bank account you want debited to the NIBSS activation account below.
• Make sure that same account has at least ₦100 available after the ₦50 transfer.

You can send the ₦50 from your mobile banking app, internet banking, or USSD.

Transfers from mobile or internet banking
NIBSS Direct Debit Emandate Activation Account
Account: 9880218357
Bank: Paystack-Titan 
You can transfer from your mobile app and internet banking

NB: Activate within two weeks. If the mandate is not activated within two weeks of being created, it is deleted automatically and your lender will need to set it up again.

Click here to learn how to deactivate a mandate

Also read: You can now activate your direct debit mandates in 1 minute