Bank transfer

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Operation whereby funds are transferred from one account to another.

Written order given by a customer to his bank or payment institution to debit his account in a specified amount in order to credit that of his creditor.

A bank transfer can be occasional or ongoing.

It may be executed immediately or on a scheduled date and requires the account information of the creditor receiving the transfer (bank details, BIC codes and IBAN).

 

Source: Banque de France