The standing order is a payment instruction given by a?
Question 1 Report
The standing order is a payment instruction given by a?
Answer Details
A standing order is a payment instruction given by a customer to the bank. It is an agreement between the customer and the bank to make regular payments of a fixed amount to another person or organization. This payment can be made daily, weekly, monthly, or at other agreed intervals. The customer sets up the standing order with the bank, and the bank ensures that the payments are made on the agreed dates. This type of payment is useful for recurring bills or expenses, such as rent or mortgage payments, utility bills, or charitable donations.
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