Bank funds transfer services based on payment conventions Cover Image

SERVICII BANCARE DE TRANSFER DE FONDURI PE BAZA CONVENŢIILOR DE PLATĂ
Bank funds transfer services based on payment conventions

Author(s): Dorina Niţă, Imola Drigă
Subject(s): Economy
Published by: Editura Universităţii Vasile Goldiş
Keywords: credit risk; liquidity risk; interest rate risk; insolvency risk.

Summary/Abstract: A standing order is an instruction a bank account holder gives to their bank to pay a set amount at regular intervals to another account. The instruction is sometimes known as a banker's order. They are typically used to pay rent, mortgage or other fixed regular payments. Because the amounts paid are fixed, a standing order is not usually suitable for paying variable bills such as credit card, or gas and electricity bills. A direct debit is an instruction that a bank account holder gives to his or her bank to pay an amount directly to another account. It is typically used to make recurring payments for credit card or utility bills. Unlike standing orders, which require the amounts to be fixed, direct debits can be used for varying amounts; the payee can simply indicate a different amount each time.

  • Issue Year: 19/2009
  • Issue No: 1
  • Page Range: 692-696
  • Page Count: 5
  • Language: Romanian