Standing order
Credit scores & reportsA fixed payment you set up to send a set amount to another account on a schedule.
Overview
Standing orders are useful for regular payments like rent or debt repayments.
You control the amount and timing, unlike direct debits.
Why it matters
- It helps keep payments consistent.
- It can support positive payment history.
- It reduces the risk of forgetting payments.
FAQs
Is a standing order the same as a direct debit?
No. A standing order is set by you; a direct debit is set by the payee.
Do standing orders affect credit scores?
Only if the payments are reported to credit agencies, such as rent reporting.
Related terms
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