0 a system used between European banks and similar organizations, in which money can be moved from one account to another by a central computer:
The money was transferred by giro.
a giro cheque
1 a system used in connection with different systems to transfer money between post offices, bank accounts, etc. using paper documents or electronically:
If the same scrutiny were given to giros as to dodgy fivers, we could eliminate a lot of fraud.
We recognise that people's views change and that, over time, there will be a gradual increase in the number who use bank accounts, with fewer using giros.
Starting next year, we are planning to introduce benefit payment cards to replace order books and giros for people who choose to collect their benefits at the post office.
Over the lifetime of the eight-year contract, we expect to save more than £1 billion a year by virtually eliminating method of payment fraud on order books and giros.
Could it be a book of giros?
There are many pensioners on income support who might be concerned that this money was an overpayment or mistake and simply leave the giro uncashed.
They do not come for a giro, and we will not provide it.
In the giro system there is a possibility of doing an important thing for the people, namely, encouraging the banking habit to a greater extent.
