A Standing Order is a financial instruction that allows a bank account holder to automatically transfer a fixed amount of money to another account at regular intervals. This can be set up for various purposes, such as paying bills, making loan repayments, or saving money. The account holder specifies the amount, frequency, and duration of the transfers, which can simplify budgeting and ensure timely payments. Standing Orders are commonly used in personal finance and business transactions. They differ from Direct Debits, which allow a company to withdraw varying amounts based on the bill. Standing Orders provide more control over the payment amount and schedule, making them a reliable option for consistent expenses.