a hang out with, broseph Paul, to talk about his experience and knowledge within the use of negotiable instruments 👑👊
we will also talk about the difference and use of :-
Bank giro credits (BGCs) are used by customers to pay cash or cheques into a bank account.
They are commonly found in the form of tear-off strips at the bottom of utility, telephone and other regular bills.
A bank giro credit is basically a paper slip addressed to a bank branch instructing it to credit a specified sum of money to a named account at that branch. It bears the money mark logo next to the words “bank giro credit.”
A joint giro credit is one that has been issued by a biller and it can be used to pay a bill either at a bank, in which case it will be cleared through the inter-bank credit clearing, or at a branch of the Post Office.
The joint giro credit is addressed to Santander (UK) plc , the alliance and Leicester or whatever banks is listed and has the words
"TRANSCASH” printed on it, as well as the words “bank giro credit” and the money mark logo.
lest we not forget!!!