Bankgiro is a Norwegian giro system used by all

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

s in the country, managed by Bankenes Betalingssentral (BBS). The system allows arbitrary transactions between private accounts in all Norwegian accounts using

Norwegian krone The krone (, currency sign, abbreviation: kr (also NKr for distinction); ISO 4217, code: NOK), plural ''kroner'', is the currency of the Kingdom of Norway (including List of possessions of Norway, overseas territories and dependencies). It was t ...

. It is optimised for

online banking Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institut ...

, though it is also available via the

post Post, POST, or posting may refer to: Postal services * Mail, the postal system, especially in Commonwealth of Nations countries **An Post, the Irish national postal service **Canada Post, Canadian postal service **Deutsche Post, German postal s ...

(Brevgiro), using a

telephone A telephone, colloquially referred to as a phone, is a telecommunications device that enables two or more users to conduct a conversation when they are too far apart to be easily heard directly. A telephone converts sound, typically and most ...

(Telegiro) or based on automation, including the services Avtalegiro, Autogiro and eFaktura. The system dates back to 1973, when the

commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

s and the saving banks created a common system, that could compete with the Postgiro system used by the postal bank,

Postbanken Postbanken (lit. The Postal Bank) was a Norwegian postal savings bank. The bank offered its services through the Norwegian post office. It was first merged into DNB ASA as a subsidiary, and then dissolved in 2011. History Postbanken was fou ...

. Use of Bankgiro was free until 1985. In the late 1990s, Postgiro was bought out by BBS and Postbanken went over to using Bankgiro.

References

Banking technology Payment clearing systems {{europe-bank-stub

See also

References