General Interbank Recurring Order (GIRO) is a method of transferring money by instructing a bank to directly transfer funds from one bank account to another without the use of physical checks.

In a bank giro transfer, the one sending the funds (paying party) sends a request to the entity to whom it is forwarding the money. This request is sent to the giro center. The giro center verifies the funds are available in the paying party’s account, then immediately debits them.

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 as they provide security when lost or stolen. Giro transfers can be processed more quickly than a standard check.