SWIFT gpi Service

Piraeus Bank is among the most important financial institutions worldwide, who have joined the Global Payments Innovation (gpi) service of SWIFT, offering – first in Greece - a new level of service to customers' payments.


What is the Global Payments Innovation service

Global Payments Innovation is an innovative payments’ service of SWIFT, that enriches payment transactions of participating financial institutions with extra information, transparency and execution date’s assurance.

In addition, through the SWIFT gpi Payment Pre-validation feature, regarding the control of payments’ details before their execution, the time of end-to-end incoming transactions’ crediting is drastically reduced. Due to early settlement of payments’ data issues, there are no further time-consuming delays for customers.



How does the Global Payments Innovation service work

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, Piraeus e-banking), is marked as gpi payment with a unique transaction reference, the gpi reference, valid until the beneficiary’s account credit.

The information for a SWIFT gpi payment, regarding its processing status and the final beneficiary's credit account, is available provided that the payment has been sent via SWIFT and the banks involved (intermediary banks, beneficiary's bank) participate in the SWIFT gpi service.


How you may track your payment

The service is available via:

  • Piraeus e-banking

Exclusively through Piraeus e-banking and the GPI Tracking tool, you may track your 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. 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.  

The GPI Tracking tool can be used either for a payment that you have sent as an issuer, or for a payment that you expect the money as a beneficiary, just by using the unique payment code and provided that this payment is marked gpi.

If you wish speed in the execution of your payments, gpi ensures faster and prioritized payments processing from all participating banks within their cut off time.


Benefits

  • Immediate payment tracking
  • Real-time end-to-end visibility on the status of a payment transaction
  • Speed in a payment’s processing steps transmission and execution
  • Beneficiary’s credit account confirmation
  • Enhancement of your 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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