What are the cases for non-execution of a periodic payment?
Why did my periodic payment fail?
Insufficient account funds: Banks are only obligated to execute payment orders on time, if the corresponding balance is in the account. If even one pence is missing from the full transfer amount, the standing order will not be executed unless there is an agreed overdraft facility. Standing orders will also be executed without balance in the current account, as long as one operates within the agreed credit line.
Cancellation of the bank account: If the account is closed, the bank is freed from the periodic payment contract