Bank Giro Transfer

A method of transferring money by instructing a bank to directly transfer funds from one bank account to another without the use of checks. Bank giro transfers are predominantly used in European countries such as Germany, Austria, the Netherlands and Sweden, where they are seen as an effective way for companies to receive payments from foreign customers.

Also known as a "Giro credit".

The bank giro transfer was developed to help companies increase their ability to receive payments on the goods and services that they provide. Customers can pay using a giro transfer either through the mail or online. Giro transfers have become a more accepted payment method than checks because they provide security when lost or stolen, and they can be processed more quickly than a standard check.


Investment dictionary. . 2012.

Look at other dictionaries:

  • bank giro — noun A credit clearing system which enables transfer of money between accounts in UK banks • • • Main Entry: ↑bank …   Useful english dictionary

  • bank giro credit — See: bank transfer, giro …   Accounting dictionary

  • bank giro — / bæŋk ˌdʒaɪrəυ/ noun GB a method used by clearing banks to transfer money rapidly from one account to another …   Marketing dictionary in english

  • bank giro — / bæŋk ˌdʒaɪrəυ/ noun a method used by clearing banks to transfer money rapidly from one account to another …   Dictionary of banking and finance

  • giro — gi‧ro [ˈdʒaɪrəʊ ǁ roʊ] noun [uncountable] also National Giro BANKING in Britain and some other countries, a system for sending money electronically from one bank account to another: • You can pay your gas bill by giro …   Financial and business terms

  • bank transfer — bank giro credit A method of making payments in which the payer may make a payment at any branch of any bank for the account of a payee with an account at any branch of the same or another bank …   Accounting dictionary

  • bank transfer — bank giro credit; BGC A method of making payments in which the payer may make a payment at any branch of any bank for the account of a payee with an account at any branch of the same or another bank …   Big dictionary of business and management

  • Giro — A giro is a method of payment. It is the opposite of a cheque, which is given to a payee who deposits it in a bank. A giro is given by the payer to his bank, which transfers funds into the payee s bank account. Giro is often used by post offices… …   Wikipedia

  • giro — 1) A banking arrangement for settling debts that has been used in Europe for many years. In 1968 the Post Office set up the UK National Girobank (now Girobank plc) based on a central office in Bootle, Merseyside. Originally a system for settling… …   Accounting dictionary

  • giro — 1) A banking arrangement for settling debts that has been used in Europe for many years. In 1968 the Post Office set up the UK National Girobank (now Girobank plc) based on a central office in Bootle, Merseyside. Originally a system for settling… …   Big dictionary of business and management

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