Trans-European automated real-time gross settlement express transfer
From ACT Wiki
(TARGET). A payment system composed of one real-time gross settlement (RTGS) system in each of the countries of the European Union (EU) plus a number of non-EU countries and the European Central Bank (ECB) payment mechanism.
The domestic RTGS systems and the ECB payment mechanism are interconnected according to common procedures (interlinking) to allow cross-border transfers throughout the EU to move from one system to another.
