Setup standing orders with set amount of payments

As per the title, can the option to setup a standing order to repeat until an amount of payments have been made?

Do you mean for example.

You lend me £500 and we agree I pay it back in £50 p/m.

I pop into Monzo and organise a standing order for £50 p/m to go to you but set a total value of £500 after which it ceases or at the very least notifies you to delete it?

Is this what you mean?

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You can do that already with a bit of basic maths.

I want to pay £500 in 10 months. I just set up a standing over of £50 per month which you set to end when the last payment is due in 10 months time.

I’m not quite sure what else is needed?


Understandably you can it based off a date but surely it would be good to do it based of an amount of payments too?

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I think it’s fairly typical for banks to provide an option to setup standing orders for a certain number of payments (as an alternative to specifying an end date), at least it is with the other banks I use.

It just makes things slightly easier for those who want to setup a standing order this way and removes potential for incorrect calculation.

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