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Bus/Financial | | English term or phrase: Standing order/direct debit | Who can give me a clear explanation of the difference between a "standing order" and a "direct debit"?
Many Thanks!
Hanna |
| SpanTranKudoZ activityQuestions: 333 (none open) ( 12 closed without grading) Answers: 72
| Local time: 12:52
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| | English translation:Please, read below | Explanation:
Standing order: The customer asks the bank to pay an specific amount to an specific account.
Direct debit: The customer signs a form allowing a company to debit his/her account for variable amount (for example, electricity bill) |
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Local time: 11:52
| Grading comment Thanks to all of you for your help.. it seems obvious now but it has caused me quite some headaches in the past! Have a good day, thanks again, hanna
4 KudoZ points were awarded for this answer |
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| Discussion entries: 0 |
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Automatic update in 00:
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7 mins confidence:   peer agreement (net): +2 | standing order/direct debit see definitions
Explanation:
Standing Order
Pre authorised payment in which the customer gives instructions to their bank to pay fixed sums at regular intervals or on defined dates.
Direct Debit
A procedure under which an organisation to whom a payment is due claims the amount directly from the bank account of its debtor.
http://www.car-insurance-uk.org.uk/definitiond.htm
The difference is that a standing order is taken out of a debtors account on a regular basis(for example once a month) while a direct debit can be a single transaction.
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7 mins confidence: peer agreement (net): +5 Please, read below
Explanation:
Standing order: The customer asks the bank to pay an specific amount to an specific account.
Direct debit: The customer signs a form allowing a company to debit his/her account for variable amount (for example, electricity bill)
| nothing
Local time: 11:52
Native speaker of:  Spanish
PRO pts in pair: 44
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| | Grading comment | Thanks to all of you for your help.. it seems obvious now but it has caused me quite some headaches in the past! Have a good day, thanks again, hanna |
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The translation workplace 
