Giro bank

A giro bank is a bank whose main tasks include the processing of cashless payment transactions among merchants .

The first giro bank in Germany was the Hamburger Bank, founded in 1619 . The unit of account used by her, Mark Banco, served throughout Germany as a unit in commercial accounting. Almost as old as the Hamburg bank is the Banco Publico of the Nuremberg merchants.

As the German coinage was increasingly improved and standardized in the course of the 19th century, the giro banks slowly lost their business basis. The Nuremberg Banco Publico was closed in 1827, the Hamburg bank existed until 1875.

literature

• Hans Pohl, Manfred Pohl: German banking history. Vol. 2, Knapp, Frankfurt a. M. 1982, ISBN 3-7819-0271-4 , pp. 16f