Standing Orders

A standing order is an instruction you give to your bank or building society to make payments, usually on a regular basis, to a UK bank or building society account.

Any person or company with a current account at a bank or building society in the UK can set up a standing order.

Your bank or building society will, on the day specified, debit your account and transfer the money to the bank or building society account of the recipient.

The money will be transferred either through the Bacs system or increasingly from June 2008 through the Faster Payments Service.  If it goes via Bacs it will arrive with the recipient within three working days, e.g. for a standing order initiated on a Monday, the earliest it could arrive would be the Wednesday. However, standing orders processed via Faster Payments will be processed on the same day.