standing-order

Vocabulary Word

Definition

'Standing order' is a regular, automatic payment that you set up with your bank. It’s used for fixed amounts, like a monthly mobile bill, gym membership, or rent. You control the amount and regularity.

Examples in Different Contexts

In charitable donations, a standing order allows individuals to regularly donate a specified amount to a charity. A philanthropy coordinator might state, 'By establishing a standing order, you can provide continuous support to our cause, helping us plan our activities with more certainty.'

Practice Scenarios

Academics

Scenario:

We want to ensure our subscribers have consistent access to our research materials. An automated payment option could make this easier for them.

Response:

That sounds like a great option. Setting up a standing order for our subscribers will provide them constant access to the study materials.

Tech

Scenario:

Staying updated with licensed software is crucial for our team's productivity. We need to make sure it's always readily accessible.

Response:

I'd agree. A standing order for our software licenses would reduce the risk of any interruption in service.