Giro

A giro (/ˈdʒaɪəroʊ/, /ˈdʒɪroʊ/, /ˈʒɪroʊ/, /ˈdʒɪəroʊ/, or /ˈʒɪəroʊ/), or giro transfer, is a payment transfer from one bank account to another bank account and instigated by the payer, not the payee. Giros are primarily a European phenomenon; although electronic payment systems such as the Automated Clearing House exist in the United States and Canada, it is not possible to perform third party transfers with them.

In the United Kingdom and in other countries the term giro may refer to a specific system once operated by the post office. In the UK, the giro service was originally known as National Giro. In due course "giro" was adopted by the public and the press as a shorthand term for the girocheque, which was a cheque and not a credit transfer.

The use of both cheques and paper giros is now in decline in many countries in favour of electronic payments, which are thought to be faster, cheaper and safer due to the reduced risk of fraud.

Etymology

The word "giro" is borrowed from Dutch "giro" and/or German "giro", which are both from Italian "giro" meaning "circulation of money". The Italian term comes via Latin "gyrus" meaning "gyre" from the Greek "gyros" meaning "circle". It often stands for general interbank recurring order.

Giro (disambiguation)

Giro or GIRO may refer to:

Giro District

The Giro District is located within southeastern Ghazni Province in Afghanistan, 50 km South East of Ghazni. The district is a wide plain with scattered low mountains. More than 40 000 residents are estimated, according to 2002 year's data (100% Pashtun). The district center is Pana.
As the other districts in this area, it is seriously affected by the continuing drought. Harvests have been decreasing in recent years, and agriculture is the primary source of income.
The roads are in bad condition. The health and education services need a lot of improvement.

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