Literally "turning" or "circle". Italian
noun derived from the verb "girare", "to turn". Besides the literal original meaning you see in Giro d'Italia
, Italy's big bicycle stage race
, it's part of international banking lingo
, used for checking account
s and the money transfer
s effected through them.
This (as well as a number of other expressions like agio) is a remnant of Italy's dominant role in trading during the renaissance age, when the country's merchants and moneylenders developed many of the finer points of the credit and money-shuffling business.
Since sending paper cheques is quite uncommon in Europe nowadays, a giro account is a quite basic necessity (since you cannot even recieve your salary without one) and frequently, if not daily, used by most Europeans.