Article 354 of Commercial Code

Bank transfer is an operation whereby the bank enters a specified amount on the debit side of the transfer originator's account pursuant to his written order, and on the credit side of another account, to achieve the following: A Transfer of a specified amount from one person to another, each having an account at the same bank or at two different banks. B Transfer of a specified amount from one account to another, both opened in the name of the transfer originator at the same bank or at two different banks. 2 - The agreement between the bank and the transfer originator shall regulate the conditions for issuing the order; nevertheless, the transfer order may not be made to bearer. - If the beneficiary of the transfer order is authorized to transfer the value to the credit side of another person's account, his name must be stated in the transfer order.