Giro (banking)

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A giro transfer, often shortened to giro (/ˈdʒaɪroʊ, ˈʒɪəroʊ/),^[1] is a payment transfer from one current bank account to another bank account and initiated by the payer, not the payee.^[2] The debit card has a similar model. Giros are primarily used in Europe; although electronic payment systems exist in the United States (e.g., the Automated Clearing House), it is not possible to perform third-party transfers with them. In the European Union, the Single Euro Payments Area (SEPA) allows electronic giro or debit card payments in euros to be executed to any euro bank account in the area.