The termination of giro transfers, previously scheduled to occur on 1 January 2019, has been postponed indefinitely. Currence – the owner of the Giro brand – has decided this after close consultation with banks and users.
This decision was made in part due to a survey amongst the payees and payers of giro transfers in late 2016. The survey shows that many entrepreneurs do not mind the gradual phaseout of giro transfers, but consumers and charitable institutions still make use of giro frequently, meaning that this means of payment still serves a clear societal need.
The National Forum on the Payment System (MOB in Dutch) does not object to postponing the final termination date. Depending on how giro transfer usage evolves in the coming years, a new, later termination date may eventually be determined.
If you want to know more about ways to effectively utilise giro transfer payments within your organisation, please feel free to contact us!
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