Standing order: regular payments made form the bank account. They are the same amount each time and are made by the bank on behalf of the customer with the customers instructions to do so. Eg monthy subscriptions to magazines etc
Direct Debits: Payments made from the bank for the customer. The person being paid originates the payment. DD's are often used where money paid varies and payment dates alter.
Credit transfers: Receipts/payments. Receipts from customers who have paid the amount due through the banking system directly to the person who is being paid's bank account. Payments to suppliers/employees which go straight to their bank accounts.
Bank charges/interest: Made by the bank for services provided. Charges are usually calculated in relation to the number of transactions during the period,
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