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Payment Option- Payroll with a GIRO

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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?

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.

First published on 10/20/2019

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