If a person gives instruction to his bank to pay a set amount at regular intervals to another (payee) account; it will be known as __:

If a person gives instruction to his bank to pay a set amount at regular intervals to another (payee) account; it will be known as __:
[A]Standing order
[B]Demand Draft
[C]Cheque
[D]Overdraft

Standing order
A standing order is an instruction a bank account holder (payer) gives to his or her bank to pay a set amount at regular intervals to another’s (payee’s) account for fixed bills to pay rent, mortage, etc, then this type of instruction is also known as a banker’s order. The standing order is not suitable for paying variable bills viz. credit cards or gas and electricity bills, as they are used mainly when the amount is fixed to pay.

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