credit transfer Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “credit transfer” in the English Dictionary

"credit transfer" in Business English

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credit transfernoun [C or U]

uk   us   especially UK
BANKING the ​process of ​movingmoney from one ​bankaccount to another ​electronically: automated/automatic credit transfer The ​move to ​automaticcredittransfer will virtually ​eliminatefraud in ​benefitpayments. Several million ​cheques and ​credittransfers are ​handled every day.
(Definition of credit transfer from the Cambridge Business English Dictionary © Cambridge University Press)
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