Standing Orders

Standing order is an application to the bank to perform respective payments regularly. You can instruct a bank to initiate either domestic payments or cross-border payments under the standing order agreement.

Your money will be transferred automatically

  • This is convenient for those who perform regular payments of the same amount at the same regularity to the same company or person. Used for payments to pay for membership fees, insurance, loan and leasing or just to transfer money to your own savings account.
  • You only need to submit to the bank a payment schedule and give instructions (like payee’s name and IBAN) to make payments accordingly.
  • Agreed amount will be debited from your bank account and be transferred to the payee automatically.

Creating your own standing order

  • Amount of payment can be
    • Fixed amount
    • The entire balance in the account or the required percentage of the balance
    • The entire amount up to the minimum balance that must remain on your account after the transfer of funds to the beneficiary has been executed
  • Frequency of payments
    • You can indicate the months of the year – every month, every other month, every quarter or individual months
    • The day of the month – every day or individual days of the month
    • The weeks of the month – every week, every day of the week or individual days of the week
  • Period of the agreement
    • You can select a period from 1 month to 10 years for standing orders in EUR inside EEA and from 1 month up to 3 years for international standing orders
    • You can always cancel the agreement in case a need arises

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