Global Bank Relations

Piraeus Bank’s Correspondent Banking Department covers the global bank relations with Financial Institutions and Sovereigns worldwide.

Country know-how and a wide correspondent network all over the world, through more than 1000 international Banks, enable us to provide high-quality, professional services to our customers involved in international activities.

Many Financial Institutions have chosen Piraeus Bank as their main correspondent in Greece, for its state-of-the-art processing infrastructure, wide expertise, knowledge of the local market and its ability to serve their needs.

Services

Cash Letter

A fast, safe and cost-efficient service for the encashment of all cheques in EUR drawn on banks in Greece, both clean commercial cheques & bank drafts. The existence of a vostro account is not required, as clearing services are provided through TARGET 2 or EBA-STEP1.

Cheque Collections

A comprehensive service that is most suitable if immediate access to the funds is not required. It ensures irrevocable payment as your account will only be credited after the final payment from the drawer's bank (recommended for large amounts). The service covers cheques or bank drafts irrespective of currency. The existence of a vostro account is not required, as clearing services are provided through TARGET 2 or EBA-STEP1.

Bulk Payments

Piraeus Bank provides a series of payment services. With the high-quality means it possesses, Piraeus Bank can be your single point of service for Low or High Value, domestic or international payments. Especially for domestic Low Value Payments, a low cost channel is provided for handling large volumes of payments. It consists of payments sent by SWIFT MT 102/102+, up to EUR 12,500, executed with normal priority, containing IBAN & BIC information, under all charging options.

CLA - Collection Account

EU based Companies, with exports to Greece, have the ability to accumulate their export proceeds of their Greek partners into a single account, held with Piraeus Bank and with the following services provided:

Favorable terms & conditions
transmission of SWIFT MT940 to their home bank,
real time monitoring of the account through Piraeus Bank internet banking (winbank),
transfer of funds periodically and/or on demand to their home account with minimum cost and maximum efficiency.

SWIFT ΜΤ101 - Request for Transfer

Piraeus Bank is a member of the SWIFT’s MT101 - User - Group. Special agreements with international banks are already in place and new may be established upon request.

SWIFT to Cheque

A convenient method of executing payment orders in favor of beneficiaries located anywhere in Greece. Following your instructions, Piraeus Bank issues and dispatches the cheques to the beneficiaries.