Bankgiro is a

Norwegian Norwegian, Norwayan, or Norsk may refer to: *Something of, from, or related to Norway, a country in northwestern Europe *Norwegians, both a nation and an ethnic group native to Norway *Demographics of Norway *The Norwegian language, including the ...

giro system used by all

bank A bank is a financial institution that accepts 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 markets. Because ...

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 (, abbreviation: kr (also NKr for distinction); code: NOK), plural ''kroner'', is currency of the Kingdom of Norway (including Svalbard). Traditionally known as the Norwegian crown in English. It is nominally subdivided into 100 ''� ...

. It is optimised for

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

, though it is also available via the

post Post or POST commonly refers to: *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 service **Iraqi Post, Ira ...

( Brevgiro), using a

telephone A telephone is a telecommunications device that permits 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 efficiently the human voice, into e ...

( Telegiro) or based on automation, including the services Avtalegiro,

Autogiro An autogyro (from Greek and , "self-turning"), also known as a ''gyroplane'', is a type of rotorcraft that uses an unpowered rotor in free autorotation to develop lift. Forward thrust is provided independently, by an engine-driven propeller. Whi ...

and eFaktura. The system dates back to 1973 when the

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

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 founded ...

. 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