Meaning of “credit transfer” in the English Dictionary

business-english dictionary

"credit transfer" in Business English

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credit transfernoun [ C or U ]

uk us especially UK

BANKING the process of moving money from one bank account to another electronically:

automated/automatic credit transfer The move to automatic credit transfer will virtually eliminate fraud in benefit payments.
Several million cheques and credit transfers are handled every day.

(Definition of “credit transfer” from the Cambridge Business English Dictionary © Cambridge University Press)