Standing order


A standing order is an automated payment that you can set up from your current account. It will send a regular payment (normally monthly, quarterly or yearly) to the person or company you wish to pay. In the context of savings accounts, some will let you set up a regular standing order or direct debit to your savings account so you don’t have to remember to physically transfer the money yourself.
The main difference between a standing order and a direct debit is that with a standing order you have full control over how much you pay and when. With a direct debit these details can be changed by the person or company you’re paying.

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