Standing Orders are recurring SEPA (Single Euro Payments Area) Credit Transfers you can schedule to send on a daily, weekly, or monthly basis. This article will guide you through the process of scheduling a Standing Order.
You can only make a Standing Order if you are a member with permission to initiate payments.
Steps to schedule a Standing Order
- Go to Web Banking > Transfer.
- Click + New transfer.
- Choose Standing Order.
- Enter the beneficiary name and IBAN, then click Continue.
Tip
Enter the beneficiary's name exactly as it appears in their bank records:
- Individuals: use the full first and last name.
- Businesses: use the business's legal name as it appears in their bank records.
Make sure you confirm the IBAN and the SWIFT or BIC code.
- Enter the transfer details like the amount, and optional custom label and reference, then click Continue.
Tip
- Label: a clear description to help you identify the purpose of your transaction.
- Reference: this will appear on both your and the beneficiary’s bank statements, making it easy to identify and track your transaction.
- Set your transfer frequency (Daily, Weekly or Monthly), and set the date and time for your first transfer, then click Continue.
The chosen payment frequency determines how often a new standing order is sent from your account:- Daily: every day at the specified time
- Weekly: once a week at the specified time
- Monthly: once a month at the specified time
Optional: you can toggle the End date option to specify an end date and time for your recurring transfers.
- Using your mobile device, consent to schedule your Standing Order.
*You’ll be notified that your Standing Order has been approved and is being processed. You can check details of your Standing Orders in your history.
*If you choose to Send a full balance transfer instead of a regular Standing Order, enter the amount you want to leave in your account, then click Continue.
💡 Sending a full balance means transferring all available money from your payment account to your beneficiary, resulting in a low remaining balance.
Returns and recalls
If you initiated a Standing Order and need to recall the funds, submit a written request to Swan Support in the Web banking app.
- You request a recall: sent to the beneficiary’s bank, which verifies and credits funds back to your account.
- Someone requests a recall from you: you’ll be asked for approval, and the funds are debited back from your account.
- Transfer return: this happens if the account doesn’t exist or is closed; funds are credited back within three business days.
For more details about transaction recalls and returns, read the article on Credit Transfer and Card Payment Fraud Disputes.
Please read our article on how to cancel a Standing Order. If you have any issues making a Standing Order, submit a request to Swan Support.