How to Set up a Standing Instruction

Owned by Laurie Wilmot (Unlicensed)
Last updated: Jun 24, 2019 by Massabe Lydiane


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To set up a standing instruction to transfer funds from a saving account

Standing instructions can be set up to transfer funds from a saving account to another account. The transfer will take place based on the schedule defined in the standing instruction. For a loan repayment, the standing instruction schedule can be set to match the loan repayment schedule.

The saving account from which the transfer originates needs not belong to the same client that the destination account belongs to. The client who owns the originating account must request/authorize the standing instruction.

The originating and destination accounts must be in the same currency.

Need to describe what happens when a standing instruction cannot be completed because of a shortage of funds in the originating account. There seems to be an outstanding issue in JIRA regarding re-attempts to satisfy the standing instruction.

Locate the client or group whose savings account will be the originating account of the funds for the transfer.

  1. Click More and Create standing instructions to create new standing instructions.
  2. Complete the fields on the Create Standing Instruction form. See Standing Instruction form fields.
  3. Click Submit.

The standing instruction will be created and will be in effect from the Validity from date until the To date, inclusive or until the standing instruction is Disabled.


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