Equity bank standing order 2025

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With a Standing Order (or SO on your statement), the customer is in charge of setting them up with their bank. The value of the order can only be changed by the customer which they will do directly with their bank. A Direct Debit Mandate (or DDM) is set up by the customer with the business.
In a nutshell, with a direct debit a variable amount of money is taken from your account, with a standing order you set up the amount of money to send every month.
Standing orders are usually processed on the same day they are set up . However, allow between three to five working days for it to clear.
To fill out the KE Equity Bank Standing Order Request Form, you need to provide your account details, the beneficiarys details, the amount to be transferred, the frequency of payment, and any other required information, ensuring all sections are accurately completed.
Businesses taking payments by standing order may end up constantly checking their bank to see if payment has arrived. They then have to update their accounts manually once it does. This is time and effort that could be better used elsewhere.
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People also ask

A standing order is a regular payment that you can set up to pay other people, organisations or transfer to your other bank accounts. You can amend or cancel the standing order as and when you like. A Direct Debit can only be set up by the organisation to which youre making the payment.
Using online banking Under Standing orders select the type of standing order you wish to create. If you are paying someone new, enter the details of the company or person you are wanting to pay, including the name that will appear on your statement and a payment reference, then click Next.

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