Accept giros

Credit transfer.

Giros usually supplied and completed by the beneficiary with all the relevant details and sent to the payor along with an invoice.

The payor then signs the giro (in other words accepts it) and forwards it to the bank.

The bank debits the payor’s account and puts the giro into the clearing system.

See also

• Accept
• Clearing
• Giro
• Payments and payment systems