KIR’s money transfer service sets new record

The National Clearing House (KIR), which allows for transfers, exchanges of information, processing and debts between banks within Poland and also throughout Europe, managed 145 million monetary transactions and exchanges this past November via its Elixir system, according to a press report on Wednesday. The value of the transactions totalled PLN 381 billion across Europe, in comparison with PLN 359 billion a year earlier, in November of 2015. Elixir Express, the offshoot of Elixir that allows for immediate interbank transfers – including those via smartphone – made nearly 268,000 transactions in Poland in November, surpassing the PLN 1 billion mark for the first time. KIR was formed in 1992 between 16 of Poland’s largest banks including the country’s National Bank.