Glossary

Settlement Order/ Order

Is an order to execute a Transaction which is submitted by the Originator and transfer the funds (in some instances securities) to the Beneficiary. As well it may originate from the Beneficiary when it requests direct debit from the account of Originator.

How does Settlement Order work?

Settlement Order comes into existence whenever there is a purchase or request to Transfer funds to another account. It starts the whole process of Transfer and usually follows Standard Settlement Instructions.

Other articles