Meaning of CREDIT TRANSFER in English

CREDIT TRANSFER

A payment order or sometimes a sequence of payment orders made for the purpose of placing funds at the disposal of the beneficiary. Both the payment instructions and the funds described therein move from the bank of the payer/originator to the bank of the beneficiary, possibly via several other banks as intermediaries and/or via more than one credit transfer system.

European Central Bank English Glossary.      Английский глоссарий Европейского Центрального Банка.