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Standing Order Question

  • 21-01-2015 9:11am
    #1
    devnull
    Moderators, Motoring & Transport Moderators Posts: 11,744 Mod ✭✭✭✭


    Hi,

    I was paying a standing order to a company which I set up six months ago.

    The company asked me to cancel this standing order since their bank details had changed, and sent me a form for a new standing order.

    I filled the form in, and was told to send it back to them which I did. This was two weeks ago.

    Do I have to set the standing order up as well or do they do it their end?


Comments

  • #2
    GerardKeating
    Registered Users, Registered Users 2 Posts: 7,804 ✭✭✭GerardKeating


    devnull wrote: »
    Hi,

    I was paying a standing order to a company which I set up six months ago.

    The company asked me to cancel this standing order since their bank details had changed, and sent me a form for a new standing order.

    I filled the form in, and was told to send it back to them which I did. This was two weeks ago.

    Do I have to set the standing order up as well or do they do it their end?

    Are you sure it was a SO form they sent, and not a DD, for a SO, normaly YOU would send it to YOUR branch


  • #3
    devnull
    Moderators, Motoring & Transport Moderators Posts: 11,744 Mod ✭✭✭✭devnull


    It was certainly a standing order form and the letter also says to send the standing order form back ot them and the letter has STANDING ORDER written at the top of it.

    It's a little weird I know, but I was just following instructions.


  • #4
    Legislator
    Registered Users, Registered Users 2 Posts: 139 ✭✭Legislator


    To be safe you should check with your bank that the S/O you sent to the company was actually set-up in accordance with your instructions.


  • #5
    coylemj
    Registered Users, Registered Users 2 Posts: 25,620 ✭✭✭✭coylemj


    There's nothing weird or unusual about that - charities, local sports clubs, your parish do it all the time - ask you to sign an SO form which you give back to them and they then submit it to the bank.

    The reason they do it that way is because they usually want to put an individual code (called a 'reference') onto each SO which they will be able to see on their statement. That allows them to track who is paying, otherwise if they had (e.g.) two Sean Murphys paying via SO, they wouldn't be able to tell which was which on their bank statement.


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