Bank Giro Transfer

Filed Under »
Dictionary Says

Definition of '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".
Investopedia Says

Investopedia explains 'Bank Giro Transfer'

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.

Sign Up For Term of the Day!

Try Our Stock Simulator!

Test your trading skills!

Related Definitions

  1. Check

    A written, dated ...
  2. Eurocheck

    An alternative ...
  3. Online Banking

    The performance ...
  4. Payment

    The transfer of ...
  5. Debit Card

    An electronic ...
  6. Credit

    1. A contractual ...
  7. Email Money Transfer - EMT

    A retail banking ...
  8. PayPal

    An electronic ...
  9. Book Transfer

    The transfer of ...
  10. Community Reinvestment Act - CRA

    An act of ...

Articles Of Interest

  1. What Is Money?

    It's a part of everyone's life, and we all want it, but do you know how it gains value and how it is created?
  2. An Exploration Of The Development Of Financial Markets

    We take a look at how the market was born and has continued to develop throughout history.
  3. Compare Local Interest Rates

    Search and compare the best checking and savings rates nationwide from Bankrate.com. Click Here!
  4. What Is the Quantity Theory of Money?

    Take a look at the tenets, assumptions and challenges of monetarism's principal theory.
  5. Bank Reconciliation

    Detailed instructions and illustrations on how to reconcile your accounts.
  6. Analyzing A Bank's Financial Statements

    A careful review of a bank's financial statements can help you identify key factors in a potential investment.
  7. The Evolution Of Banking

    Banks are a part of ancient history. Find out how this system of money management developed into what we know today.
  8. Understanding The Basel III International Regulations

    The Basel III regulations mark a drastic reform in international banking. But how do they impact the future's investment landscape?
  9. Are Your Bank Deposits Insured?

    Learn how the FDIC is helping to keep your money in your pockets.
  10. The Ins And Outs Of Bank Fees

    These service charges could nickel and dime you right out of your nest egg.

comments powered by Disqus
Recommended
Loading, please wait...
Trading Center