A standing order in is an instruction from a customer to a bank or building society to regularly transfer a set amount of money to another bank account, either at the same bank or elsewhere.
Standing orders can be set to run for a particular time, and cancelled by the customer at will.
They are typically used to pay for ongoing and unchanging expenses – including rent, charitable donations, mortgages, line rental, or a fixed-rate loan.
Only the customer initiating the standing order can alter it. If there is insufficient money in a customer's account to cover the standing order, the payment is skipped.