A standing order is used for payment of obligations or execution of payments from the account of the Principal to the account of the Beneficiary of the standing order. All Clients of the Bank who have a current account can enter into a standing order with the Bank. We distinguish between two types of standing order: Standing order and Direct debit.
Transfer of funds within the Bank free of charge
Standing order is the Client’s order to the Bank to pay a certain fixed amount of funds to the account of the named user of the standing order, with pre-defined payment intervals (eg every 10th of the month), within a specific time period. It is typically used for paying fixed expenses, transfers from account to account, increasing savings in a fixed amount, etc.
Inclusion – 5 KM, one time
The Client’s instruction to the Bank that it can debit the Client’s account according to the amount submitted via file by the legal entity (user of the standing order), which amount is variable. It is typically used for variable bills such as credit card payments, overheads such as electricity, mobile and landline, etc.
Direct debit is the authorization for the user of the standing order to request payment of money, so that the user of the standing order can request the payment of different amounts in different periods, which makes direct debit more flexible compared to standing order.
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