credit transfern.
/ˈkrɛdɪt ˌtransfəː/, /ˈkrɛdɪt ˌtrɑːnsfəː/, /ˈkrɛdɪt ˌtranzfəː/, /ˈkrɛdɪt ˌtrɑːnzfəː/, U.S. /ˈkrɛdət ˌtræn(t)sfər/ 1. Banking and Finance. An act or system of moving money from one account to another; spec. (a) payment made directly by a bank from a debtor's to a creditor's account.
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society > trade and finance > financial dealings > banking > [noun] > specific banking procedures
standing order1619
out-clearing1836
credit transfer1847
clearance1858
resumption1866
money transfer1873
in-clearing1878
wire transfer1878
clearing1883
giro1896
lockbox1957
transfer payment1964
disintermediation1966
reintermediation1970
1847 Westm. & Foreign Q. Rev. 47 451 The form of a credit transfer, whether that of cheques, bills, or bank notes, is wholly immaterial.
1854 Rep. Secretary of Treasury on State of Finances for Year ending June 30, 1854 263 Under the system of credit transfers, the monthly amounts appear to have been about three times as great as they were under the previous cash system.
1893 Pennsylvania State Rep. 156 484 The action of the board of revenue commissioners unappealed from in making a credit transfer from Luzerne county to Lackawanna county.
1900 Chicago Banker June 141 In the commercial transactions of this day bank checks fill an important position and form a system of credit-transfer at once simple and efficacious.
1920 N.E.L.A. Bull. (N.Y.) Oct. 743/2 Cash is not posted to this merchandise card because it is closed out by credit transfer to the ledger record.
1965 New Scientist 1 Apr. 14/1 He can transfer his money in one of two ways: by credit transfer or debit transfer (or cheque).
1966 J. S. G. Wilson Monetary Policy vi. 87 Other innovations included a credit transfer system that went some way towards providing the giro arrangements so popular on the Continent of Europe.
1999 Independent 25 May i. 5/2 Ministers hope claimants will be paid via automatic credit transfers through banks and post offices.
2. Education. A system whereby successfully completed units of study at one institution can be credited towards a degree, diploma, etc., at a different institution; an instance of this.
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1932 Daily Northwestern (Oshkosh, Wisconsin) 29 June 3/5 (heading) High school graduates asked to secure their credit transfer blank.
1956 Jrnl. Higher Educ. 27 432/2 There is no formal arrangement existing between the state colleges and Stout Institute regarding credit transfer.
1979 Economist 22 Dec. 17/2 Credit transfer works well in the United States. In California, students are encouraged to move from the lower-tier community colleges to a branch of the University of California if they are able.
1991 Flying July 91/2 Student loans and scholarships are available, and you'll want to discuss credit transfers, especially flight training credits.
2009 Students & Universities (House of Commons Innovation, Universities, Sci. & Skills Comm.) I. ii. 44 We recommend that the Government take immediate steps to introduce a credit transfer system which will allow credit transfer and portability between tertiary education institutions in England.
This entry has been updated (OED Third Edition, March 2013; most recently modified version published online March 2022).
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n.1847