an arrangement – based on private contracts or statutory regulation – relating to the transfer of money and the settlement of accounts – between several members – according to common rules and – following specified, standardized execution channels (a series of predetermined legal, technical and procedural arrangements for the transfer of money and the settlement of accounts). – See clearing house, automatic, (securities) giro system, remote access, interbank funds transfer system, capital transfer system, electronic, retail payments, electronic, RTGS system, Single European Payment Area, TARGET system, credit transfer.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/