Bank standing orders

[verwood]

So how long before its due to be paid out can it be cancelled, just a few days or is it much longer?

[skid_112]

As Elgin says there is a difference between a standing order and a direct debit. If you cancel a direct debit with someone the bank is legally obliged to notify that person/organisation of the cancellation, with a standing order you have the power (and the right) to cancel at your own discretion

[Elgin]

How difficult is it to stop standing orders at Cajamar Bank?
Any help appreciated.

Do you mean Standing Orders or Direct Debits?

Standing Orders (or periodic transfers) are regular payments set up by you to make regular payments (e.g. paying a monthly sum to your child for living expenses, rent etc whilst at uni).  You can set these up at any time as long as you know the recipients banks details.  No notice is required.  They are easy to set up online from your bank´s website or App.

Direct Debits are charges originated by a supplier for automatic payment of bills (e.g. electricity, water, basura, IBI, IVTM, phone bills etc.).  In Spain these are generally set up when you sign up to a new contract and are part of the contract paperwork.  However, sometimes you need to fill in a specific form and take it to the originator (e.g. IBI and IVTM and other council taxes).  This is not immediate. for example if you car tax is handled by the Diputacion de Almería then it will now only apply to next year's tax as 2016 bills have already been processed. In some cases these can be set up or amended (change of bank details) online from the originators website (e.g. Endesa)

[guest4538]

http://www.which.co.uk/consumer-rights/advice/how-to-cancel-your-direct-debit-or-standing-order

[verwood]

I'd be interested in knowing this too.

[Jimel]

Do you know how much notice the recipient has to have?

[Jimel]

Thank you Skid.

[skid_112]

online its fairly easy to cancel and set up

[Jimel]

How difficult is it to stop standing orders at Cajamar Bank?
Any help appreciated.