There are some recurring payments that need to be made at fixed times. With the monthly standing order service at Account & Finance you can eradicate all your worries and let us take care of your fixed monthly payments. All your regular payments on accounts will be carried out in time and automatically, and you will not be involved in this process. Standing Order is an order given to the bank to carry out non-cash operations in automatic mode by means of automatic writing-off/pay-in transaction of fixed money amounts from your current/savings account in national currency to given account details.
Standing orders are time saving as you needn’t visit bank since the money transfer is carried out in automatic mode. You can deposit savings automatically at your savings account by means of regular pay-in transaction. You can easily choose a flexible payment schedule. The quick payment realization without visiting the bank can be greatly beneficial and save time especially if you have a busy schedule.
You can easily make all kinds of payments using this method. Recurring payments of the same amount are made to suppliers. This approach is commonly used for contractual obligations, such as monthly payments for insurance, rent, loans, and parking fees.
Standing orders can increase the efficiency of a business by replicating purchases and payments, rather than requiring that individual transactions be initiated each time a purchase or payment must be made. Doing so greatly reduces the associated amount of paperwork.
You can cancel your standing order with us at any time that you like. The flexible schedules also mean that you can alter the payment details whenever you need to. We at Account & Finance are looking to make life as easy for you as possible and this is just one service that allows us to do that.