A standing order is an agreed relationship between an account holder and ProCredit Bank, according to which the account holder provides the Bank with the authority to, on their behalf and for their account, perform regular payments, in equal sums, at a data set in advance, and in line with the agreed upon terms of payment.
A standing order may be open by all the clients of ProCredit Bank having the following:
- Open current account
- Funds at current account from which payments are made via a standing order
Advantages of payments made through standing order:
- Payments via standing order within ProCredit Bank are free of charge
- Cost reduction, as regular settlement of debt saves you of unneeded payments of default interest caused by delay
- Time saving by avoiding long queues
Purposes of a standing order are the following:
- Payments of loan installments at ProCredit Bank or another financial institution
- Transfer of funds between your accounts at ProCredit Bank
- Payments to suppliers
- Payments of business premise lease
- Payments of utilities
ProCredit Bank takes care of your payments for you!