Standing Instructions
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About Standing Instructions
Standing instructions can be set up to automatically transfer funds from one account to another on a periodic basis. For example a standing instruction can be set up to:
- transfer a loan repayment from a saving account to a loan account on the dates that the loan repayment is due
- transfer funds from a current account to a saving account on a monthly basis
- transfer funds from an account owned by one client to an account owned by a different client on a weekly basis
The from, or originating, account and the to, or destination, account must be in the same currency.
To set up a standing instruction to repay a loan, see standing instructions for loan repayment.
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