Creating a Standing Order 

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       1.      Choose Account Management ® Standing Order ® Create.

       2.      Specify the transaction type upon which the standing order is based, the payment method and the ordering party account.

To create a variable standing order, see Variable Standing Order for more information.

       3.      Choose Continue.

       4.      Enter the amount and the recipient data.

You have various options for identifying the recipient bank in Customizing under Account Management ® Basic Functions for Account Management ® Set Up Recipient Account Identifications:

¡        Classic

Bank country, bank key, account number, (possibly bank control key)

¡        Classic + SWIFT

Bank country, bank key, SWIFT code, account number, (possibly bank control key)

¡        IBAN + SWIFT

IBAN, SWIFT code

Define the key date and the time periods with which the standing order is to be executed. Choose Continue, and the system then suggests the next execution date.

 Tip:

In the case of a weekend or public holiday, you can shift the posting of a standing order either to the next or to the previous working day.

       5.      When you save the standing order the system issues a standing order number specific to the account.

 Principle of dual control

If the principle of dual control has been applied, the new standing order now has the Parked/New status. It needs to be released by a user with appropriate authorization (see Releasing a Standing Order).

 Charges

You can levy charges for the creation, change, or deletion of a standing order, by using the Direct Charges condition category.

 Execution

The execution of the standing order is part of end-of-day processing.

If a standing order cannot be executed, (for example, due to a negative limit check), it is transferred to postprocessing when the generated payment order is executed.

In postprocessing you can decide whether or not the standing order is to be executed anyway.

It is also possible to delete a standing order in postprocessing. If it has already been posted or executed, you cannot reverse it. Instead, it needs to be returned (see Free Returns).