I'm familiar with its use when meaning turning a vehicle to go in another direction:
Il faut virer le bateau ! - You have to turn the boat!
It's easy to remember because of the English verb "to veer" as in "veer to the right."
I suspect "virer" is preferable to "transferer" when referring to transfering money.
Are these other two uses of "virer" commonly used?
Ma chemise a viré au ro…
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