SWIFT gpi Service

Piraeus Bank becomes the first bank in Greece to go live on Global Payments Innovation (gpi) of SWIFT. Now you may trace your transactions wherever they are.

What is the Global Payments Innovation

Piraeus Bank is now among the major financial institutions worldwide who have joined the cross-border payments’ service Global Payments Innovation (gpi) of SWIFT.

Global Payments Innovation is a new service of SWIFT that enriches payment transactions with extra information, transparency and execution date’s assurance.

What does the service offer

Piraeus Bank has incorporated the gpi innovation to its systems. As a result, each payment subject to specific conditions and irrespective of its execution channel (branch, winbank), is marked as gpi payment with a unique transaction reference, the gpi reference, valid until the beneficiary’s account credit.

The information through SWIFT gpi regarding processing status and the final beneficiary's credit account is available, if the intermediary banks and the benefiaciary's bank have joined the gpi

Exclusively through winbank web banking and the new GPI Tracking tool, all customers, can now track their payment at all times, by using the unique transaction code, to receive status updates and confirmation when it has been completed and finally credited to the beneficiary's account. This capability is possible due to the GPI reference entry in the Transfers menu, by selecting Payments Management and then GPI Tracking.

The GPI Tracking tool can take place via winbank web banking and the unique payment code, only for a gpi payment, either from the issuer of the payment or the receiver who expects the money. You may get the unique payment code by visiting the Transfers menu, selecting Payments Management and checking the Outgoing Transaction Details in the "GPI Reference" field.  

Gpi ensures faster and prioritized payments processing to customers wishing for their cross-border payments to proceed faster and with end-to-end tracking from all participating banks within their cut off time.

Benefits

  • New payment tracking service
  • Real-time end-to-end visibility on the status of a payment transaction
  • Monitor the processing steps of the payments speed in a payment’s transmission
  • Beneficiary’s credit account confirmation
  • Enhancing customer’s transactional credibility

Participating Banks

For example: ABN AMRO, Bank of China, BBVA, Banco Santander, Bank of America Merrill Lynch, Bank of New York, Citibank, Danske Bank, DBS Bank, Deutsche Bank, ICBK Bank, ING Bank, Intesa Sanpaolo, Nordea Bank, Royal Bank of Canada, Standard Chartered Bank, UniCredit, etc.

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The service is provided under the current restrictions on capital transfers