Archived 2022.12.11. Content moved to Guidance on Scheduled Payments
Is a regular payment considered a scheduled payment, where the payment has been initiated by the bank on the customer's behalf?
For example, is a regular payment set up to pay the loan amount on the repayment due date considered a scheduled payment?
Is a regular payment set up to pay the credit card balance on a scheduled date considered a scheduled payment?
The examples could be considered scheduled payments. It is at the discretion of the bank how to represent these items. The bank may wish to align with how these types of payments are represented in other channels. The DSB has published a convention that covers this topic: