Standing Order
A standing order is an instruction you give your bank to send a fixed amount of money to another account on a regular schedule.
1 min read Saving More Money
What it means
A standing order is an instruction you give your bank to send a fixed amount of money to another account on a regular schedule. You choose the amount, date and recipient, and only you can change or cancel it.
Example
You set up a standing order to move £200 from your current account into your savings account on the first day of every month.
Why it matters
It's useful for regular payments that stay the same, helping you automate saving or paying rent.
Unlike a Direct Debit, the payment amount cannot change unless you update the instruction.
Can I cancel a standing order?
Yes. You can usually change or cancel it at any time through your banking app or bank.