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What is a Standing Payment Order?

  • Updated
Before LL Pay UK can accept any funds sent to your account, you will need to set up a Standing Payment Order and a Nominated Bank Account (see What is a Nominated Bank Account and how do I change it?).

Your Standing Payment Order is created when you open an account and confirms that each amount received, regardless of currency, will be withdrawn to your Nominated Bank Account if it is not transferred within 120 days.

You can transfer funds by converting to another currency, sending to another wallet or bank account, withdrawing to your own account, or paying a bill.

If a currency conversion is required to process your Standing Payment Order, we will automatically exchange funds to the currency of your Nominated Bank Account at the prevailing LianLian Global exchange rate.

 

To view your Standing Payment Order, click Activity at the top of the page and select Transactions. In the top right of the screen, you will find the button to View your Standing Payment Order.

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The Payment Orders shown on the Standing Payment Order page are automatically created for each amount we receive on your behalf.
 
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Each time you make a new payment (ie. to pay your suppliers, VAT or send other business-related payments), your oldest Payment Order(s) in that currency will be decreased by that payment amount.
 

If you have any questions about your Standing Payment Order, please contact our customer support team.

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