An instruction to a bank regular payment to a third party on behalf of a customer is
Answer Details
An instruction to a bank to make a regular payment to a third party on behalf of a customer is called a "standing order." A standing order is an instruction that you give to your bank to make a set amount of money available to a third party on a regular basis. For example, you could set up a standing order to pay your rent or a monthly subscription fee to a service provider. The payment is made automatically by the bank, so you don't have to worry about missing a payment or having to make a transfer every month. This type of payment is often used for bills, rent, or other recurring expenses.