Question about standing orders

tryingtocutback

I'm not sure where to post this question so apologies if this isn't the correct place!

I need to set up a standing order for my rent to be paid to the agent on 1st of the month. Can you let me know if I should just set it up with my bank for 1st of each month or whether I need to allow time for it to leave my bank and arrive at their bank?

Thanks in advance if you can help me.

Alter_ego

Yes, allow time for it to arrive. check with the bank. Don't forget 1st will sometimes be on a Friday etc.

tryingtocutback

Thank you, I will check with the bank.

timbstoke

Check your own sort code and the receiving sort code here: http://www.ukpayments.org.uk/sort_code_checker/. If both are able to use Faster Payments, then transfers *should* be instant. If you have an understanding agent, you can always set it up for the 1st, and if they say they didn't get it on time, move it back a few days the next month.