lavendersparkle: (Ood)
[personal profile] lavendersparkle
A slightly worrying admission is that I've managed to get most of the way through my 20s without knowing what standing orders are.

Are they the same as when you set up an automatic regular monthly payment from your account or are they something more complicated than that?

(no subject)

Date: 2012-07-15 07:52 pm (UTC)
cesy: "Cesy" - An old-fashioned quill and ink (Default)
From: [personal profile] cesy
Basically, yes, though some banks have an online regular payment thing that's separate from the old standing order system that requires paper forms. But it works exactly the same way.

(no subject)

Date: 2012-07-16 09:12 am (UTC)
naath: (Default)
From: [personal profile] naath
Yeah, a standing order is where you tell your bank "send 100 pounds to the gas company every month". Whereas a direct debit is where you tell your bank "pay whatever the gas company asks you to every month".

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