Standing Orders - When Is the rent Paid?
Hi, a tenant of mine pays by standing order. the first weekly payment came through fine but the second and third weekly payment did not.
The money has indeed left his account, as verified by his bank. It has not, according to my bank come into my bank at all and not into my account.
Obviously I've sent him away to check but my question is when is a rent bill actually cleared as being paid under the standing order system. I am presuming it is only paid once I have cleared funds in my account?
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