standing order

Definitions (2)
Popular Terms
1. Banking: Type of preauthorized-payment under which an accountholder instructs a bank to pay a specified amount, directly from his or her account balance, to a named party on a regular basis. Standing orders are used typically for recurring, fixed-amount expenses such as insurance premiums, mortgage installments, and subscriptions, and are cancelable at the accountholder's option. See also direct debit payment.
2. Purchasing: Purchase order covering repeated deliveries of goods or services in specified quantities, at specified prices, and according to a specified schedule.

Use 'standing order' in a Sentence

I needed to stop the standing order because I no longer wanted to pay the person that was getting all of my money.
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You need to always try and fill any standing order quickly so that they will come back to do business again.
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You should always make sure to fill any standing order that you have as fast as you can to keep a good reputation for prompt service.
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