With the globalization of the economy, the use of electronic means in the financial sector is a booming reality, and, like other banking transactions, paper-based transfers are being replaced by electronic techniques, which are a privileged means of payment.

Bank transfer - a transaction carried out on the initiative of an originating entity (natural or legal person), operated through a credit institution and intended to make amounts of money available to a beneficiary entity, with the possibility of the same entity being simultaneously the originator and beneficiary; 

Transfers can be distinguished by the number of participants, and they may be:

o Intra-bank transfer – a bank transfer between two demand deposit accounts at the same credit institution;

o Interbank transfer - a transfer between two demand deposit accounts at different credit institutions;

o Large Amount Transfer – an interbank transfer of an amount equal to or greater than the limit established by Banco de Cabo Verde for a large amount, ordered by a customer of a credit institution and settled in real time in Banco de Cabo Verde’s settlement system;

o Urgent transfer – an interbank transfer of any amount, subject to a special fee, which, at the request of the originating customer, must be made available to the recipient on the same business day.