Standing Orders
Setting up standing orders with Suits Me is so easy.
A standing order is a regular payment (usually monthly or weekly) of the same amount, paid on a set date.
It allows your account provider to take money regularly from your account to pay another account. You can use a standing order for many payment types, including:
✅ Transferring money between accounts
✅ Sending a friend or family member money on a regular basis
✅ Paying your rent or mortgage
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You need to know the exact amount you want to pay out in advance.
This means standing orders may not be useful for bills, where the money owed can go up or down.
You can also change or stop a standing order at any time.
The quickest & easiest way to set up a standing order
1. Login to your Online Money Account or App
2. Select Payments
3. Select View Standing Orders
4. Hit Setup Standing Order
5. Add Payee providing name and account details
You can manage or cancel your standing order at any time in your online money account or app.
What is the difference between a Direct Debit and a standing order?
The main difference between a standing order and a Direct Debit is that a standing order is always the same amount each month, while a Direct Debit can change each time. For example, a phone bill might go up and down each month, so this would be paid as a Direct Debit. A rent payment is the same each month, so you’d pay this using a standing order.
Another difference between a standing order and a Direct Debit is that you set up a standing order personally, while the organisation you are paying arranges a Direct Debit.
A standing order gives you more control as you can set it up, stop or change it at any time. This is unlike a Direct Debit, where only the organisation can make changes.
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2. Töltse ki az űrlapot
3. Töltse le az alkalmazást
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FAQs
What is a standing order mandate?
A standing order mandate is a form that includes your bank details and payee. It also includes the frequency of payment, amount and date.
What happens if a standing order is not paid?
If you have a standing order scheduled and you do not have enough money in your account, it will not be processed. The recipient of the funds will have a missed payment and the standing order will stop until the next scheduled payment.
How long does it take for a standing order to clear?
Standing orders are processed on the day you have set up the scheduled payment, however typically 3-5 days to clear.
How do I cancel a standing order?
You can cancel a standing order easily via the Suits Me App. Simply select Standing Orders and Edit from there.