Talk:Giro (banking)

message: I think the article might be improved with a bit about why it's called a Giro. I have heard the term used in several countries. I would have added it myself if I knew, but I did not, and some Google searches found nothing.... thanks! ++Lar 05:33, 18 December 2005 (UTC)
thread_title:  The word "Giro" 

message: Should this page be named "Direct Deposit" instead of Giro, and Giro replaced with direct deposit in the article?  There can be mention that giro is another term for direct deposit, but direct deposit seems more common--and more sensical (it's a direct deposit.  What's a giro?).  Chiss Boy 12:57, 19 February 2007 (UTC)
replies: text: I would have to agree. Jared (t)  16:15, 23 August 2007 (UTC)

text: Giro and Direct Deposit are different things entirely. Both have in common that they are "push" systems, as opposed to a check or a letter of exchange which are "pull" but the Giro existed long before there was any Electronic Banking or Internet. GS3 (talk) 17:21, 11 August 2010 (UTC)
replies: text: I thought that "direct deposit" was that service where unbanked people bring cash to a bank and the bank sends the money to a bank account that may live at another bank, not an account-to-account transfer. However, I may be wrong about this. -- 93.104.143.242 (talk) 19:04, 20 September 2012 (UTC)
thread_title: Giro vs. Direct Deposit 

message: In the UK, the usual name is Bank Giro.  The term Giro is an abbreviation for Girocheque, which is different. Biscuittin (talk) 11:32, 1 October 2010 (UTC)
thread_title:  Disambiguation needed 

message: Don't you think it's a bit of a stretch to use urbandictionary.com as a reference? Particularly "giro day", Reference #7. Also, reference #9 is a broken link. I'd like to remove both these reference, but that'll invalidate the Cultural Significance section. I've a hard time finding good references for "giro day". It seems to be true though; quite a lot of talk about it in forums, blogs, etc - just that these don't qualify as a reliable source. Anyone more knowledgeable care to substantiate the section? Bunston (talk) 01:50, 10 January 2012 (UTC)
thread_title:  Are we really using UrbanDictionary as a reference? 

message: The article says: "although electronic payment systems such as the Automated Clearing House exist in the United States and Canada, it is not, as yet, possible to perform third party transfers with them." What the heck does this mean? What is a third-party payment? When I need to pay something, I log in to the web site of my bank, enter all the details and send the wire transfer just as I would send an email. This transaction does only involve two parties (or four parties, if you count the paying party, the beneficiary and their respective banks as distinct entities). But three parties? I don't get what the third party is supposed to do here. Escrow? Government surveillance? An intermediate bank that steals part of the amount being transferred? -- 93.104.143.242 (talk) 19:01, 20 September 2012 (UTC)
thread_title:  Third-party payments in the US 

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thread_title:  External links modified 

message: Accounting experts, please confirm, before I make an edit.
Ref:
"In the postal giro model, the paying party sends a request to pay the payee (called a giro transfer) to the giro centre, which verifies that the funds are available, debits the payer's accounts by the amount requested, and credits that amount to the payee's account."
I think that
 
"...debits the payer's accounts..."
should read
"...credits the payer's accounts..."
If I understand accounting terminology correctly, a decrease in an asset or increase in a liability is called a "credit", not a "debit".
Russell Melaxant 23:05, 28 April 2017 (UTC)
replies: text: The money is debited (deducted) from the payer's account and credited (deposited) to the payee's accounts.  In general, when a payer has funds on deposit, a decrease in their balance is accomplished by debiting their account (hence the card often used to initiate the transaction being called a debit card rather than a credit card), not by crediting it.  In a credit card model, a bank or card company extends the use of a line of credit, an asset retained by the company, to their customer, creating or increasing liability on the part of the customer if they use it to pay a merchant.  This is not the giro model, in which the customer is using an asset they already possess, merely using giro as a conveyance to accomplish transfer of the asset or a portion of it to another (who credits it against the payer's liability to pay them for goods or services received). General Ization Talk    23:20, 28 April 2017 (UTC)
thread_title:  "credit account": is this an error? 

message: :The following is a closed discussion of a requested move. Please do not modify it. Subsequent comments should be made in a new section on the talk page. Editors desiring to contest the closing decision should consider a move review after discussing it on the closer's talk page. No further edits should be made to this discussion. 
The result of the move request was: Moved (non-admin closure) >>> Extorc.talk 04:42, 24 June 2022 (UTC)
thread_title:  Requested move 17 June 2022