Payment Option- Payroll with a GIRO

Answered by:

Question:

We have a customer living in Japan requesting to receive payroll with a GIRO. We are not familiar with this payment option and wondered how it works. What are the risks associated with this kind of transfer?

Answer:

It is nothing more than a standing order to transfer funds from the customer's account without an individual authorization for each order. Totally a bank decision if they want to develop an agreement to support this type of product for international money transfers.
_