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Standing Orders & Direct Debits - What are they?

Using regular payments, such as Direct Debits or Standing Orders to pay bills like your mobile phone or gas bill can save you time and money. Here's all you need to know in order to set up and manage your regular payments.

Direct Debits and Standing Orders are safe, convenient ways to make regular payments. Once they're set up they happen automatically. But what's the difference between a Standing Order and a Direct Debit? Which should you choose? It really depends on what you are looking to pay.

Direct Debit

A Direct Debit is an agreement between you and the organisation you're paying, which allows them to take money out of your account at regular intervals. The organisation will set this up and can alter the amount paid (but only after they've informed you). This is why Direct Debits are ideal for paying bills that can vary from month to month such as gas, electricity or credit card bills.

Standing Order

A Standing Order is also an automatic regular payment but the amount is fixed. You set it up and only you can make changes such as change the amount or payment date. You can, for example, use Standing Orders to make regular payments between your current accounts or to your savings account if you want to save regularly.

We do not allow Direct Debits or Standing Orders to be paid from savings accounts.