A Standing Order is an instruction to the Bank by an account holder to pay a fixed amount at regular intervals to another account.
Standing Orders are typically used to pay rent, subscription or other fixed regular payments. A standing order is not usually suitable for paying utilities and other variable bills; for these types of payments, a Direct Debit payment service is available providing that the billing organisation has also registered for the service.
A Standing Order can be set up to run for a set period period of time, or indefinitely.
To cancel a Standing Order, a notice period of 2 working days must be given and the bank will require the account holder to complete a Standing Order Cancellation Form.
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