Standing orders

Standing orders are instructions for regular, automatic transfers from your account at RCB to another account, either at RCB or another bank. Scheduled to take place on specified dates, they are particularly useful for paying rent, repaying loans or making other types of regular transfers.

The payment date is usually monthly or quarterly, but can be adapted to fit your needs. All a client needs to do is choose the amount, the frequency of the transfers and the payment dates. On each payment date, the required amount is transferred automatically.

Benefits of standing orders
  • A client can automate regular payments and avoid spending his/her valuable time calling the Bank;
  • A client can manage his/her account quickly, efficiently and with the minimum of effort;
  • A client will pay a charge for each individual payment under a standing order as per the Bank’s “Commissions and charges” for transfers.
Standing orders to maintain a specified account balance

Minimum account balance

If the account balance on a certain date is lower than a preset target level, the required amount is transferred from another specified account with RCB in order to top up the account.

Maximum account balance

If the account balance on a certain date is higher than a preset target level, the surplus amount is transferred to a specified account with RCB or another bank.

Account balance within a preset range

If the account balance is outside the preset range, it is topped up from another specified account with RCB, or the surplus amount is transferred to a specified account with RCB or another bank.

Automatic RCB card repayment

The required amount is transferred from the current account to cover the balance due on the card account on the due date.

Standing orders for automatic regular transfers and/or FX conversion

Regular transfer of a fixed amount from one account to another at RCB or at another bank

Payment amount and frequency of transfer (daily, weekly, monthly, quarterly, biannually, annually) are defined. The specified amount will be transferred automatically at the specified frequency.

Regular FX conversion

Conversion amount and frequency (daily, weekly, monthly, quarterly, biannually, annually) are specified. The specified amount will be converted automatically at the specified frequency.

Who can set up standing orders?
  • This service is available to all holders of a current account at the Bank. All a client needs to do is to complete a standing order form at any of the Bank’s branches.