Save time by paying regular bills (such as school fees, licences, insurance premium, utilities, rents, loan repayments etc) by standing order. This ensures you never miss a payment, and that you won’t need to keep mental or actual notes.
How do they work?
- Standing Orders may be scheduled well in advance and made to run up to a maximum number of times, up to a specific date or even up to a total amount
- They are more convenient and secure than other, traditional modes of payment, such as cheques or cash, as we will have a record of each transaction.
How can I maximise their potential?
- Standing orders are a great way to pay regular dues on time - every time
- They are also an excellent method for saving, as you can automatically transfer a pre-specified amount from your salary into your savings account.
Good to know!You can cancel a payment order by the end of the business day (Monday-Friday) preceding the day chosen for the transfer of funds.