Bankgirocentralen

Bankgirocentralen, often abbreviated as BGC, is a Swedish company that plays a crucial role in the Swedish payment system. It is responsible for operating and developing the Bankgirot system, which is a clearinghouse for electronic payments. The Bankgirot system facilitates the transfer of funds between different banks on behalf of their customers.

BGC is owned by the major Swedish banks. Its primary function is to process a high volume of payment transactions efficiently and securely. This includes direct debits, salary payments, and general invoice payments. The system acts as an intermediary, ensuring that funds are moved accurately and promptly from payer to payee accounts.

The company was established to provide a standardized and reliable infrastructure for electronic payments within Sweden. Over time, it has evolved to incorporate modern payment technologies and security measures. BGC's operations are essential for the smooth functioning of commerce and everyday financial activities for individuals and businesses in Sweden. It ensures the integrity and efficiency of a significant portion of the country's payment flows, contributing to the overall stability of the financial market.