Standing Orders

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.

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