A Standing Order is an instruction from a customer to their bank to pay a fixed amount to you on a regular basis. If you wish to change the amount, frequency or payment date, you would be required to contact your customer and request that they contact their bank to make the necessary changes.
In the meantime your customer may well be building up arrears which would then require further adjustments to their payments. Furthermore, when a Standing Order bounces or is cancelled, it can take well over a month before you become aware of the fact. You will then need to chase the missed payments or, if cancelled, convince your customer to set up a new Standing Order.
A Direct Debit is an instruction from a customer to their bank that authorises you to collect money from their account. With a Direct Debit, when the payment amount, frequency or payment date changes, you can collect the new amount on the date of your choosing, as long as you have informed the customer in advance.
When a Direct Debit bounces or is cancelled, you will be notified within 24 hours of the event by our reporting facility, thus enabling you to deal with it professionally and efficiently. A bounced Direct Debit can be recharged within days without any action required of your customer. A cancelled Direct Debit can be reinstated by you with your customers consent or by your customer through their bank.