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What is the difference between a direct debit and a standing order?
Wiki User
∙ 17y ago
For a direct debit the amount can vary each time a bill is paid and the company requests the money from the bank of the person paying. It is used to pay bills such as gas, electricity etc. Can also be used to ensure that you pay at least the minimum on your credit card each month. A standing order is used to pay the same amount each month and the person paying it has to say it can be paid. I use it to transfer my kids allowance into their bank accounts. Can also be used to pay rent etc. Your bank will probably have leaflets about them if you ask.
Wiki User
∙ 17y ago
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What is the difference between Debit memo and Debit note?
HI, There is no difference between debit note & debit memo, both or same.
What is the difference between a credit memorandum and a debit memorandum?
A Debit Memo is a over payment A Credit Memo is a over payment
Difference between debit and credit in accounting?
A debit is money paid out or a loss, a credit in income or a gain.
What is the difference between a smart card and a payroll card?
what is the difference between a credit card, debit card and smart card
What is the primary difference between a credit card and a debit card?
credit mean were you take money debit is what you give money
What is the difference between electronic clearing system and standing instruction?
Actually, ECS works upon standing instruction. So there is no difference between them , A standing instruction can be issued to the bank where a customer holds a account to debit/credit . In ECS you issue a mandate to the bank which debits your account periodically in case of ECS-Debit.
What is the difference between Debit memo and Debit note?
HI, There is no difference between debit note & debit memo, both or same.
Is there a way to automatically send money to another account?
'standing order' or 'direct debit'
Whats the difference between a standing order and a direct debit?
A Standing Order is your instruction to your bank to pay a certain amount from your account to us at certain times of the month. This instruction needs to be renewed every year when you get your account from us.Direct Debit - this is your authority for us to ask for payment from your bank account. Once this arrangement has been set up, it will carry on unless cancelled by you or us.
What is the difference between atm and debit card?
difference between debit cards and ATM cards Debit cards, there are points of sale or ATM cards, there are no points of sale
What's The Difference Between Credit & Debit Cards?
A credit card is like a portable loan, where the money you spend isn't yours and you have to pay it back. A direct debit card is your money from an account.
What's the difference between credit card and debit card?
A credit card is like a portable loan, where the money you spend isn't yours and you have to pay it back. A direct debit card is your money from an account.
Meaning of REV in the bank statement of Axis bank?
REV - reversal: a standing order or Direct Debit has been recalled
What is the difference between a credit memorandum and a debit memorandum?
A Debit Memo is a over payment A Credit Memo is a over payment
Difference between debit and credit in accounting?
A debit is money paid out or a loss, a credit in income or a gain.
What is the difference between a smart card and a payroll card?
what is the difference between a credit card, debit card and smart card
What is the primary difference between a credit card and debit card?
credit mean were you take money debit is what you give money
