Remittances: Useful information

In order to send a remittance in a secure and rapid way via a branch or via winbank, you must provide, depending on the destination country of the remittance, the beneficiary’s account (in IBAN format where applicable) and the code number of the beneficiary’s bank (BIC), in order the transaction to be classified as Straight Through Processing (STP).
Depending on the currency and destination country of the remittance, you have the option to select the way the transaction’s cost will be applied (ordering customer, shared and beneficiary customer).
The Bank may request supporting documentation for the remittance, in order to pay your obligations safely

  • Straight Through Processing (STP)

Remittances are classified as Straight Through Processing (STP) transactions, in case they allow the beneficiary’s account to be credited directly, without human intervention.

In the case of STP transaction, you minimize the time for sending a remittance, reduce both the manual intervention by banks and transaction costs. To benefit from a STP transaction, your outgoing remittances should bear:

    • For participating countries (*), the beneficiary’s account number in IBAN format. The beneficiary’s bank identifier code (BIC) is no longer mandatory.
    • For other countries, the beneficiary’s account number and their bank’s BIC.

In case you wish to receive funds via remittance, regardless of the country of origin, you must give the remitter your account in IBAN format and your Bank’s BIC.

(*) Which countries participate in IBAN
Find more information in the following link:

  • Bank Identifier Code (BIC)

The BIC (Bank Identifier Code) uniquely identifies one Bank anywhere in the world. The BIC for Piraeus Bank is PIRBGRAA and applies in all our branches in Greece.

  • International Bank Account Number (ΙΒΑΝ)

The International Bank Account Number or IBAN is your bank account number structured according to the specifications set out by the European Committee for Banking Standards. IBAN has been adopted mandatorily by all EU countries and voluntarily by non EU countries.

Υour account is converted into IBAN format and communicated to you by your bank. To find out the IBAN for an account you hold with Piraeus Bank, you may check your account statement, ask for it at our branches, visit winbank web banking ( or consult our website (

  • Charges

Depending on the destination country and currency of the remittance you wish to send, you may choose how the charges are shared between you and the beneficiary of the remittance. You have three options:

    • OUR: you are charged with all involved bank fees
    • BEN: the beneficiary is charged with all fees.
    • SHA: the remitter and the beneficiary is charged with their bank fees.

  • What supporting documents are required for a remittance

Depending on the remittance amount, destination country and your customer type (individual, legal entity etc), the Bank may request supporting documentation, in order to pay your obligations safely (e.g. VAT return, statement for payment of withheld income tax). Find out more, by visiting your nearest Piraeus Branch.