Okuzeka
Finance & Banking vocabulary · Accounts & Deposits

Standing order

Meaning in finance & banking, with examples

nounCommon term

In finance & banking, standing order means: An instruction from a customer to their bank to pay a fixed amount to the same person or account at regular intervals, for example every month.

In Turkish: düzenli ödeme talimatı, düzenli transfer talimatı

How it is used

Mainly British English. Customers set up, amend or cancel a standing order, often for rent or regular savings. Unlike a direct debit, where the company collects an amount that can change, a standing order is controlled by the payer and the amount is fixed. Americans usually say 'recurring transfer'.

Example sentences

  1. I've set up a standing order to pay the rent on the first of every month.

  2. Please cancel the standing order to my old landlord's account.

Common collocations

  • set up a standing order
  • cancel a standing order
  • monthly standing order
  • recurring transfer
  • direct debitAn instruction that lets a company collect regular payments, such as bills or subscriptions, directly from your bank account.
  • current accountAn everyday bank account for receiving a salary, paying bills and making card payments. It pays little or no interest, and the money can be used at any time.
  • wire transferAn electronic transfer of money from one bank account to another, often between different banks or countries.
  • beneficiaryThe person or company that receives money from a payment, a letter of credit, an insurance policy or a will.

More terms: Accounts & Deposits

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This page explains English vocabulary for learners. It is not financial advice.