Book Transfers

Book Transfers

We have heard about SEPA payments, Domestic payments and Global payments by now, another type of payment which we are learning today is “Bank Internal Transfers” or “Book Transfers“.

Probably we may have seen family members having their account in same bank in the country. Here payer and payee belongs to same bank when they transact with each other, as a result of which isn’t it easy for the bank to transfer funds within its books just by updating the accounts of involved parties for credit and debit.


“Book Transfers” are transfer of funds within the accounts of a bank.

This means, payments gets initiated, processed and settled inside a bank, therefore no need of any correspondent banking or clearing systems for clearing and settlement. These payments are even more faster as there is only one account holding institution exist and payer and payee are part of same bank.


  •  Faster
  • Lower charges/Zero Charges
  •  Probably around the clock transfers
  • Reliability
  • Higher Limits for transfer/Higher cap on amounts transferred
  •  Amount transferred between different accounts of same party within the bank
  • Transfer of funds between the accounts of different parties but within same bank
  • Moment of funds between currency accounts of same party within the bank
  • Transaction between currency accounts of different parties with in same bank

Its noteworthy that the term “within the same bank” refers to  a financial institution branches within a country but make note that this doesn’t include the same bank’s branch present outside the country as it may require a clearing house or an intermediate agent based on currency & accounts involved


The Bank Transfers are special type of domestic payments for the reason that they are generally dealt with same currency

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