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A bank giro transfer 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. Bank giro transfers are predominantly used in European countries such as Germany, Austria, the Netherlands, and Sweden, as well as in Asia.

Depending on the institutions sending and receiving the funds, and the method used, a bank transfer could take between one and five business days. Understanding the different ways to send money will help you choose the option that best suits your needs.

The funds are immediately debited and electronically transferred via the giro centre's clearing process into the payee's account. The full process takes approximately three business days, using the same processing procedure and exchange centres as paper cheques.

General Interbank Recurring Order (GIRO) is an automated electronic payment service which allows you to make monthly payment to the billing organisation (BO) from your bank account directly.

Key Takeaways. A bank giro transfer 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.

What is the cut off time to make a GIRO transfer? Payment Initiated by Customers*Funds Received by BeneficiariesBusiness Days (Mon-Fri)11:01 am to 2:00 pmSame business day2:01 pm to 5:00 pmAfter 5:00pmNext business dayNon-Business Days (Saturday, Sunday and Federal Territory Public Holidays)Next business day3 more rows

The GIRO form & declaration form (if applicable) can be downloaded from the link below: https://.enterprisesg.gov.sg/-/media/esg/common/enterprisesg_giro_form.pdf Bank endorsed GIRO form and declaration form are required to be uploaded as part of the submission of FormSG under the following scenarios: a) Your bank ...