A standing order is an automated method of making regular payments that you set up.
You can instruct your bank to pay Mildmay UK adonation of a fixed amount of money at regular (fixed) intervals. Standing orders are created to cover a set period of time (e.g. every month).
A standing order is different to a Direct Debit payment.
A standing order is essentially an instruction from the payer to their bank, telling their bank to 'push' funds to another person or organisation.
In contrast, when you set up a Direct Debit, the person or organisation receiving payment asks permission from the payer to 'pull' funds from their account on a recurring basis.
The first step in setting up a standing order is to contact your bank to request it.
You then complete a standing order form (paper or online) and give it to your bank. With most banks and building societies, standing orders can be set up online or over the phone.
What are the advantages of Standing Orders?
They are usually free of charge for both payer and payee
Easy and quick for the payer to set up
They help charities like us to collect regular payments on time, once set up
You can cancel a standing order at any time, or change the amount or payment date.
You will need our bank details:
Bank: Royal Bank of Scotland plc
Account name: Mildmay Mission Hospital
Sort Code: 16-10-29
Account Number: 10127998