Bank Giro


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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.
Since its foundation in 1986, KFTC has continued to play an important role in the efficient operations of payments systems such as Check Clearing and Bank Giro systems and in the development of an innovative electronic funds transfer mechanisms in Korea.
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.
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