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Similar to the Direct Debit, standing order is a payment metghod that you can use to send money to another bank account or to your fixed account. One can use a Standing order to pay rent, bills and also pay money into your fixed deposit account.
It allows the bank to make payment from you account into another account on a specific date. such payment may include:
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You can easily setup a standing order using your phone, online banking app or filling a form in your local bank branch through this steps:
If you are setting the Standing order online,
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To setup a Standing order through the bank app, this is what you should do;
simply visit the bank barnch and fillout the form thjat will be given to you
To change or cancel Standing order online, simply login to your internet banking account -> More actions -> Direct Debit and Standing Order -> Manage standing Orders.
Your Standing order may not be paid on a scheduled date if you don’t have a sufficient fund in your bank account and in that case, the payment will wait till the next date and if you made the payment into nthe wrong account, contact the reciepient and you bank if it was not returned.
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