Bank Giro


Also found in: Dictionary, Thesaurus, Encyclopedia.
Related to Bank Giro: bank draft

Bank Giro

A transfer of funds between banks without using a check. A giro transfer can be accomplished electronically or through the mail. It usually processes faster than a check. It originated in Europe, where in some countries it has largely replaced the use of checks, especially in international transactions.
References in periodicals archive ?
The solutions offered by respectively the bank giro system and the postal giro system throughout the 1970s and 1980s were rather impractical.
Firms which had a bank account had the option of using bank giros.
The Payment Systems Committee's thorough reviews of and advice concerning consumer-related payment system issues such as the cheque system, the wage account scheme (6), debit and credit cards, postal giros and bank giros, cost and revenue conditions and the pricing of payment services played an important role in the further development of the Norwegian payment system throughout the 1980s.
Norges Bank also proposed coordination of the EFTPOS (8) systems and the ATMs systems of the postal service and the banks, of postal and bank giros, and the introduction of fees for payment transfers which reflected costs more accurately.
Jan-Erik Enestam, the Finnish Nordic cooperation minister, has expressed concern over the high and varying fees charged by the banks for bank giro services and has said that he will bring up the issue with his Nordic colleagues.
Money can be paid in by cheque, standing order or bank giro.
The European Commission has approved Nordea's acquisition of Postgirot Bank -- Customers of Nordea and Postgirot will gain from more effective payments and cash management services, as well as from Nordea's broad range of financial products and services -- Nordea contributes to promoting competition in the payments market, and reduces ownership in Bankgirot to 10% -- Nordea's customers still have full freedom of choice between the bank giro and postal giro systems
You can change the amount any time and also make one-off payments through a bank branch using the bank giro money payment form.
Full browser ?