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Giro - Does anyone know what it means/stands-for?


Travel Info
Giro is used in Singapore by banks to do automatic deductions/payments for bills etc.

I believe it was once a noun, but has now become a verb. I tried to find out what it stands for but no one arounds me seem to know. Do anyone of you know what G-I-R-O stands for?

Travel Tips
GIRO stands for General Interbank Recurring Order

Others
"Giro" is a payment system in which the account holder of a bank directs his bank to transfer funds directly from his account to the creditors account named and also notify the creditor about the transfer.
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