What does BGC mean in banking terms?
bank giro credit
A bank giro credit (BGC) is a standardised paper form that has the name and account details of a specific organisation or business printed on it (e.g. Southern Water).
What is a BGC payment?
Bank giro credits (BGCs) are used by customers to pay cash or cheques into a bank account. They are commonly found in the form of tear-off strips at the bottom of utility, telephone and other regular bills.
What is short for bank?
BK. (redirected from bank)
What does BSP stand for in banking?
|Abbreviations on bank, credit card or utility statements|
|ABBREVIATION||WHAT IT STANDS FOR|
|BSP||Branch Single Payment|
|CDL||Career Development Loan|
|CDM||Cash & Deposit Machine|
What is giro bank?
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.
Is BGC a BACS payment?
It is quite likely that your employer pays you by a BACS transfer, so you might see BACS on your statement next to your salary. BGC stands for ‘bank giro credit’ and means any cash or cheques paid into your bank over the counter in a branch.
What does giro stand for?
General Interbank Recurring Order (GIRO) is a convenient, paperless and cashless payment method which enables you to make hassle-free payments to billing organisations (BO) through your bank account.
What is the two meaning of bank?
1 : a business where people deposit and withdraw their money and borrow money. 2 : a small closed container in which money may be saved. 3 : a storage place for a reserve supply a blood bank.
What does CR stand for in banking?
The terms debit (DR) and credit (CR) have Latin roots: debit comes from the word debitum, meaning “what is due,” and credit comes from creditum, meaning “something entrusted to another or a loan.” An increase in liabilities or shareholders’ equity is a credit to the account, notated as “CR.”