Concept:An instruction given by an account holder to the bank to make regular fixed payments automatically.
Explanation:Adiza instructs her banker to pay
Le30,000 to Union Rock Insurance every quarter.
This instruction is given by the account holder herself, not by the insurance company.
The bank will automatically make the payment on each due date and debit Adiza's account.
No separate entry is made in the cash book, only the bank statement shows the transaction.
Such a pre-authorised recurring payment is called a standing order.
It is not a bank charge because no service fee is involved.
It is not a credit transfer because this is a regular payment, not a one-time transfer.
It is not a direct debit because direct debit is initiated by the payee, whereas this instruction comes from Adiza.
Answer:C. standing order