Both banking and non-banking institutions sometimes use, although quite rare, the form of receipt of a loan granted in the form of a Giro check. The most common practice of all financial institutions finalizing a bank loan agreement or payday loan is online transfer.
However, what should people who do not have a bank account and cannot transfer a set amount to them and at the same time be unable to withdraw cash from the institution in the bank window for various reasons?
Who is the Giro check loan for?
The term Giro comes from the Italian idiom fare un giro, which means ride, walk, circular movement. The Giro check itself has a very long history dating back several hundred years. And apparently, the first to implement it into everyday practice, Medici receiving church commitments throughout Europe and carrying them, among others, in the form of checks to Rome and the current pope.
Today, this method of receiving money is most often used for older people who do not have a bank account and are unable to handle ATM cards. Not only that, the Giro check loan also works on people who don’t want the transfer to leave a mark on their account.
It is also very common for the Giro check to work faster than a transfer between different banks and different companies. This form of loan is also implemented when money is needed immediately. It is also used by people who do not want to wait for booking transfers in banks and prefer to collect money immediately, even at the post office.
Finalization of the Giro check loan
The customer signing the loan or payday loan agreement simultaneously receives a Giro check. With this check he should go e.g. to one of the post offices. At the same time, there are many companies in Poland offering domestic and foreign transfers and transfers, which also support the Giro check service.
The Giro check is even honored in many stores, including grocery stores, DIY stores and hypermarkets, as well as large home appliances stores.