Standing Instruction
Noun
US
/ˈstændɪŋ ɪnˈstrʌkʃən/
UK
/ˈstændɪŋ ɪnˈstrʌkʃən/
US
/ˈstændɪŋ ɪnˈstrʌkʃən/
UK
/ˈstændɪŋ ɪnˈstrʌkʃən/
An automated recurring payment instruction set up with a bank.
Standing Instruction plays a key role in banking operations and personal borrowing decisions.
Also known as: Standing Order, Auto-debit. Closely related to Auto-debit, SIP.
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Standing Instruction - key concept in Banking & Interest.
Bill payment; EMI; SIP
Applied in Banking & Interest contexts: Bill payment; EMI