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Standing Order
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Also known as Banker's Order, a Standing Order is an instruction to your bank to make regular payments of a set amount on a set date. With a standing order, you retain control and the bank may vary the amounts being paid only with the account holder's permission. This is unlike a Direct Debit where regular payments can be varied at the request of the person receiving your money (the recipient).
See Also: Investment Centre Current Account Comparison Service
Last Updated: April 2008 © Moneyextra.com
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