A standing order is an instruction you set up directly with your own bank to send a fixed or chosen amount to another account on a recurring basis, for example, monthly or weekly. Unlike a one-off wire transfer, which you have to log in and repeat manually each time, a standing order runs automatically once it's set up. You don't need to do anything further until you want to change or cancel it.
This guide offers you another way to add funds to your ANote Music account, alongside the payment methods described in Adding funds to your account. This gives you the option to fund your account on a recurring schedule without having to submit a new transfer every time.
Availability
Standing orders are set up using your ANote Music account's personalised IBAN (starting by LU). This option currently works only if your bank allows alphanumeric IBANs (IBANs that include letters, not just numbers). Some banks don't yet support this.
Requirements:
- To see and use your personalised LU IBAN, you'll need to complete identity verification first. Without it, you'll see a general IBAN instead, which isn't suitable for a standing order
- Your account must be enrolled in SCA (Strong Customer Authentication) before you can add funds using any payment method, including a standing order
If you're based outside the EU, please note that standing orders may not be available to you directly. Have a look at Having a non-euro currency bank account for alternative options to send recurring payments to your ANote Music account.
What you need
To set up a standing order, you'll need your ANote Music account's personalised bank details to set up the recipient:
- IBAN: your personal ANote Music wallet IBAN
- BIC: MAGYLUL1
- Recipient name: your own name, as it appears on your ANote Music account
- Provider: Mangopay S.A.
You can find these details by going to Add funds > Wire transfer, choosing an amount, and clicking "Show guide."
Where to set it up
A standing order is set up through your own bank, either in your online banking portal or app, or in person or by phone with your bank. It isn't something you configure on the ANote Music platform. ANote Music simply receives the funds once your bank processes the payment.
The exact steps vary by bank, but you'll generally:
- Go to the Transfers or Payments section of your online banking
- Look for Standing orders. Some banks list this under Recurring payments instead
- Select Create a standing order (or similar)
- Enter the recipient's details (name, IBAN, BIC). This is the information you'll find in the wire transfer guide in your ANote Music account
- Choose the amount, frequency, and start date
- Confirm and save
Every bank's screens look a little different, but the form generally asks for the same core details: the recipient's name and IBAN, the amount, how often the payment should repeat, and a start date (with an optional end date if you want it to stop automatically).
Amount and frequency
You choose the amount and how often the standing order runs when you set it up with your bank. There's no minimum amount set by ANote Music for standing orders.
Pausing, changing, or cancelling
Because the standing order is managed by your bank, any changes, whether that's pausing it, changing the amount or frequency, or cancelling it altogether, are made directly through your bank, not through ANote Music.
Processing time
Since a standing order is processed as a regular bank transfer, processing times are similar to a standard wire transfer. See How to add funds through bank wire transfer for current timing.
If you still have questions about setting up a standing order, please contact us at support@anotemusic.com directly.
