answersLogoWhite

0

In the banking industry, SI means Standing Instruction. Let us say you need to pay your home rent every month on the 5th and you know your home owners bank account number. You can sign up for a Standing Instruction so that on the 5th of every month, the bank will automatically pick up the rent amount from your bank account and pay it into your home owners account. This way you don't have to remember to pay your rent every month. The bank does it for you.

User Avatar

Wiki User

14y ago

What else can I help you with?