Standing Orders and Direct Debits...

A standing order is a fixed amount, payable to the same person on the same date each month.

A direct debit is permission for a company to take a varying amount each month depending on what you owe them.
 
A standing order is maintained by you and you effectivly push money into other accounts. A direct debit is where a 3rd party can pull money form your account.

HT
 
A standing order is a directive to pay a fixed sum on specified dates or at specified intervals (like monthly),

A direct debit is where the company holding it determine the amount, which changes every month.

If you're repaying fixed loan payments, a SO will do it, but for a utility bill, where the amount is different every month/quarter, the company specify the amount and that is taken from your bank account.
 
ahaa, so a standing order is what i'm wanting if i'm transferring money from a current account to a savings account - thanks guys!
 
I've always simply looked at them as "push & pull".
With a Direct Debit the company works out how much they want and pulls that amount from your account.
With a Standing Order you push an amount out each period.
 
As has been said, I also look at them as push and pull.

A Standing order I determine the amount and frequency - my rent is paid this way.... £x on the 1st of the month.

A direct debit allows a company to take a varaible amount each month, such as for a utility bill. e.g, £x on the 1st of one month, but £y the month after.
 
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