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Tags: banking, payment instruments
Categories: Economics & Finance
A standing order (or a standing instruction) is an instruction a bank account holder («the payer») gives to his or her bank to pay a set amount at regular intervals to another’s («the payee’s») account. The instruction is sometimes known as a banker’s order.
(source: http://en.wikipedia.org/wiki/Standing_order_%28banking%29)
Synonyms:
direct billing, banker's order
