From Longman Dictionary of Contemporary Englishstanding orderˌstanding ˈorder noun [countable, uncountable] British English BFBan arrangement by which a bank pays a fixed amount of money from your account every month, year etc → direct debit
Examples from the Corpus
standing order• With a standing order you tell your branch exactly how much is to be paid and when.• The Massachusetts standing order had learned that it could best keep its official establishment by smuggling in some respectable dissenters.From Longman Business Dictionarystanding orderˌstanding ˈorder noun1[countable, uncountable]BANKING an arrangement between a bank and a customer for the bank to pay a fixed amount of money regularly from the customer’s bank account to another accountSYNBANKER'S ORDERCustomers can pay regular bills by standing order.With a standing order you tell your branch exactly how much is to be paid and when.2[countable, uncountable]COMMERCE an arrangement in which goods are sent regularly in agreed amounts, without the customer having to make a new order each timeThey have cancelled their standing order of 12,000 copies a day of the newspaper.3standing orders [plural]HUMAN RESOURCES an organization’s rules about how meetings should be held and organizedParliament is empowered to make standing orders to govern its procedures. 