Direct Debits and Standing Orders

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 can be ideal for paying things like utility bills to gas or electric companies or credit card bills that can vary from month to month.

Standing Order

A standing order is also an automatic regular payment but the amount is fixed. You set it up and only you can change it – for example, to change the amount or payment date. Rent or mortgage payments are often paid by standing order. You can also set up a standing order to your savings account if you want to save regularly.

Direct Debits and standing orders make paying bills easier. Here are some of the reasons why:

Discount

Some companies offer a discount for monthly Direct Debit payments. Check with the company.

Convenience

Direct Debits and standing orders are simple, safe and speedy ways to make a payment. They save you having to remember when a bill is due, and the time and trouble of calling into a bank or finding stamps and post boxes.

Choice of payment date

You can usually pick a date that suits you best. Many people like to make sure their payments go out after they’ve been paid.

Direct Debit Guarantee

Organisations using the Direct Debit Scheme go through a careful vetting process before they're authorised, and are closely monitored by the banking industry. You can feel confident using Direct Debits because you get additional protection. If a mistake is made by the company or by us, you are entitled to a full and immediate refund.

How to set up a standing order

Setting up standing orders is easy.

Standing orders can be set up through Online banking, telephone banking or in person at your local branch. Information you will need to provide includes:

• Your account number and sort code
• The frequency of the payment and the amount
• When the payments should start
• The name and account details of where you are sending the money to

To set up a standing order online please follow the below guidelines:

1. Log into Online banking and click on "Payments" in the top left hand side of the screen.
2. Under "Standing Orders (Regular Payments from your Bank Account)" click on create a new standing order and follow instructions provided. You will need to use a Card Reader to set up the standing order.
3. Once the standing order has been set up you will be able to view details under View, amend or cancel an existing standing order.

Alternatively, you can complete a standing order form and return it to us.

For any amendments please ensure that you provide at least two working days’ notice prior to your next payment date.

How to cancel a standing order

Cancelling regular payments you no longer need is easy. Simply follow these steps.

• Check that it’s at least two working days until the payment due date
• Log into Online banking, select "Payments", and then select "View, amend or cancel an existing standing order" to cancel a standing order. Alternatively you can cancel a standing order via telephone banking, or in person at the branch or complete a form and return it to us.
• You will receive confirmation that the standing order is cancelled.

How to set up a Direct Debit

To set up a Direct Debit, simply contact the organisation you’re paying and give them your bank account details. The organisation will then set up the Direct Debit for you.

How to cancel a Direct Debit

Cancelling regular payments you no longer need is easy. Simply follow these steps.

1. Check that it’s more than one working day until the payment due date
2. Contact the company you are paying to let them know that you want to cancel. This will stop them requesting the payment.
3. Log into Online banking, select "Payments", and then select “View or cancel existing direct debits” to confirm that you want to cancel the direct debit. This means that if the company still requested the direct debit payment, we would not pay it. Alternatively you can contact us via telephone banking or in person at the branch to confirm that you have cancelled the direct debit with the company.
4. We will give you confirmation that the Direct Debit is cancelled when you do this via online banking, in person at a branch, or via telephone banking.
5. In the unlikely event that your Direct Debit is paid in error you will receive a full refund from us on the same day (requests after 4.30pm will be refunded the following morning).

View all your Direct Debits and standing orders at a glance

If you’re registered for Online banking you can manage your Direct Debits and standing orders, view them together with the dates each were last paid, amend your standing orders and cancel any Direct Debit or standing order.

If you’re not registered for Online banking yet sign up now and you could be banking online in minutes.

Reviewing your regular payments may show payments that you no longer need or had forgotten about. You could save money by cancelling these payments in a couple of easy steps, once you are sure that these payments are no longer necessary.

How to cancel a standing order

How to cancel a Direct Debit