Standing Payment Orders
Standing Payment Order is instruction to the bank to automatically transfer the funds at frequency and under conditions specified by the customer. It is convenient for customers who have to effect at a certain time standing payment orders fixed in advance and who are willing to facilitate the daily management of their finances.
Possibilities and Advantages:
- you are saving your time - you will not have to wait in a queue at the cashier's or look for a place where to park your car;
- you will not need to always remember standing payment orders deadlines. Your bills for rendered services will always be settled in good time;
- if the payee's account is opened with Hansa - LTB, standing payment orders will be effected free of charge.
When is it Convenient to Use a Standing Payment Order?
This type of payment shall be convenient for effecting payment of regular amounts fixed in advance. Swedbank customers often order regular remittances of insurance, lease, rent, as well as renewed subscription payments. Standing payment orders can also be useful for providing continuous support to your studying offspring or parents.
Standing payment orders shall also be convenient for savings - transferring fixed amounts from a bank account to a savings deposit account on a monthly basis.
How Are Standing Payment Orders Effected?
- You can develop your standing payment orders' schedule with Swedbank covering standing payment orders that are effected most often. A separate agreement shall be concluded for each payment and related to one standing payment orders effected under conditions pecified by you.
- In observance of frequency designated by you, the Bank shall transfer the required amount from your bank account according to the conditions established under the agreement. Standing payment orders may commence on the day of signing the agreement with the Bank.
- Payments shall be carried out in sequential order of concluded agreements, starting from the agreement concluded on the earliest date.
- On the day of payment the Bank shall examine your bank account. If there are enough funds in it, the order shall be effected. If on the payment day the funds in the account are insufficient, the Bank shall regularly check your bank account and effect the payment as soon as the amount of funds in it is sufficient.
- Domestic and international payments may be effected periodically.
- Standing payment order conditions specified in the agreement may be changed or payments terminated at any time where appropriate.
How to Order a Standing Payment Order Service?
- Visit the nearest customer service outlet of the Bank and sign the standing payment order Agreement.
- You can also enter into the agreement via internet bank, selecting on the menu "Agreements" > "Standing Payment Order".
- If you do not have an account with Swedbank, we will open it for you free of charge.
