Meaning of the Standing Instruction
A standing instruction is essentially a one-time instruction given by you to your bank, telling the bank to automatically 'transfer' funds to another person or business at regular (fixed) intervals. Businesses that collect a regular fee for either subscriptions or installment payments ask you to authorize the standing instructions for smooth and hassle-free payment settlement.
Here’s how it works
Say you authorize standing instruction to us for the monthly payment of the subscription fee. Post your authorization, the monthly subscription amount and the incidental expenses (if any) will be directly debited from your registered credit card every month at the same time, until you cancel the standing instruction via your bank.
You need to authorize 2X the monthly subscription fee as the amount for standing instruction
The standing instruction amount has been set to 2X the monthly subscription fee to cover the below-listed incidental expenses (if any) and ensure a hassle-free payment settlement:
Please note that you will be notified in advance via e-mail or SMS about the exact incidental expense amount that you will be charged for a particular month, along with the fixed monthly subscription fee.
*The standing instructions shall remain valid for a period of 15 days following the day you hand over the car to us.