Credit transfer
From ACT Wiki
A payment order or possibly a sequence of payment orders made for the purpose of placing funds at the disposal of the beneficiary.
Both the payment instructions and the funds described therein move from the bank of the payor/originator to the bank of the beneficiary, possibly via several other banks as intermediaries and/or more than one credit transfer system.
See also
- Bank transfer
- Debit transfer system
- Giro
- International payment instruction
- Paperless credit transfers
