Credit Transfer
/ˈkrɛdɪt ˈtrænsfɜːr/
Definitions
- (n.) The electronic or legal process by which an amount of money is transferred from one account to another, typically involving banks or financial institutions.
The company arranged a credit transfer to pay their supplier promptly.
- (n.) A banking transaction whereby funds are moved from a payer's account to a payee's account without the physical transfer of money.
International credit transfers often require compliance with anti-money laundering regulations.
Forms
- credit transfer
- credit transfers
Related terms
See also
Commentary
Typically used in banking and finance law contexts to describe non-cash transfers of funds; distinguish from debit transfers and cash payments.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.