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Standing order
Sparenab 9 J.
An automatic, regular transfer to the same recipient. Ideal for rent, a savings plan or pocket money – set it up once and it runs automatically.
A standing order (Dauerauftrag) is an automated transfer that is carried out regularly – for example monthly, quarterly or annually. You set it up once (IBAN, amount, interval) and it runs until you stop it.
Typical uses: rent payment, savings transfer to an overnight money account, pocket money transfer to the children, club membership fees.
Tip: set up a standing order for your savings goal. Ideally right after your salary arrives – that way you save automatically before you can spend the money. This is called "pay yourself first".
Did you know? The standing order was introduced in 1961 by the Hamburg postal giro office – a world first in payment transactions.
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