Standing Order 'retained'

[Night Garden]

Hi

 

Just a quick question. Does anyone know what it means when a standing order on my online banking is showing as 'retained'?

 

I got a bank statement this morning, and realised a standing order that was set-up with 1st Credit wasn't showing on there, so had a look online, and it says 'retained', next payment due May 08.

 

Any info gratefully appreciated.

[slick132]

Hi NG,

 

Not a clue, I'm afraid but I'm sure your bank would be able to tell you if you call your branch or Cust'r Services.

 

To avoid the normal call centre fiasco, go into your own branch or any nearby one to enquire in person.

 

If they weren't getting their money, I would have thought 1st Credit would have been on to you sharpish.

[Night Garden]

That's what I thought, I haven't recieve any communication from 1st Credit, so maybe I've finished paying them :grin:

 

Will contact the bank and find out.

[slick132]

Hi NG,

 

Please let us know the answer.

 

[raydetinu]

SO usually run for a fixed period, so maybe its reached the end of payment cycle but you have not cancelled it yet and still shows up on the system.

[yourbank]

Retained means it has been set up for a number of payments, ie 12 payments for 1 years rent. When it hits the end date, it is then retained for a period of dormancy until it effectively drops off the account which is 15 months with the bank I work for.