In general, any cash payment to a recipient. – Form-related (form; input mask in Internet banking) payment order by a customer to his bank to transfer a certain sum to another account at the expense of his account (a payment order or perhaps a sequence of payment orders made for the purpose of placing funds at the disposal of the beneficiary. Both the payment instructions and the funds described therein move from the bank of the payer/originator to the bank of the receiver, possibly via several other institutes as intermediaries and/or more than one credit transfer system). – Since November 2009, banks in Germany no longer have to check whether the account number matches the recipient’s name when transferring funds. This was done to comply with the EU’s Payment Services Directive (PSD), which was incorporated into German law by an implementing act of July 9, 2009. Since then, the destination of a bank transfer has been determined solely by the account number. – In public finance – then mostly used only in the plural form – allocations – from constituent states to the state as a whole (nation state; matriculation contributions) or – from superordinate areas (super ordinated entities: state, canton, district) to smaller associations (smaller state entities: district, municipality). – See chargeback, Beschulungsgeld, International Bank Account Number, prosument, SEPA Council, Single European Payment Area, apportionment.
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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/