What is a standing order and how does it work?

By definition, a standing order is a recurring payment instruction which current account holder gives to his/her bank to transact the funds from his/her account to other accounts within certain time intervals. This practice involves the automatic monthly/weekly purchase of the cryptocurrency of your choice in the amount you choose. After creating a standing order, your bank and ECD service are doing it all for you automatically. You can cancel your standing order at any time without additional charges. If you want to purchase cryptocurrencies through a standing order, you must complete the following steps:
1. The user must have a fully verified account on the ecd.rs site (verified mobile phone number and personally verified)
2. He needs to contact email [email protected] to receive payment instructions from us and to provide us in that email with a crypto address where he wants his funds to lie (funds will always be shipped to the same crypto address you provide us with – Important note – if you change your deposit address, you must notify us at least one business day before purchasing so that the funds are not sent to the address you originally left)
3. You should then contact your bank and create a standing order with the payment information you received from us
4. Then you need to contact our customer support at email [email protected] and let us know the details of the standing order (the amount and the day of the month/week on which you placed your standing order)
If the date you set coincides with non-working days (weekends or public holidays), the request will probably be realized on the first next business day, noting that the deadline for realization of the request is 3 working days from the moment the payment is recorded in our account.

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