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Mass Payments

Mass Payments

Lower costs
with centralised management
Continuous updates
on payment execution
Payments
to Greece and abroad
File-based Mass Payments allow you to manage a large number of payments to Greece and abroad, directly and securely.

Who it is addressed to

The service is addressed to businesses which make a substantial number of payments (transfers or credit transfers) to accounts in Greece and abroad (to customers, the parent company, third parties, etc.) and wish to lower their operating costs resulting from their employees frequently visiting a branch to make payments.

What it covers

  • Credit transfers / domestic transfers
  • Credit transfers / international transfers
  • Domestic credit transfers
  • Mass payments to organisations with payment code

Service channels

Mass Payments is available through:

  • e-Banking
  • SWIFT SCORE: Centralise the management of your payments to accounts in Greece and abroad.
  • SFTP: The payment file is automatically sent to our secure FTP server. You are informed about payment execution with a response file for every payment file that is executed.

How it makes it easier for your business

  • Lower your administrative costs by centralising the management of your payments per company and country. In the case of the SFTP, transactions are entered in bulk only in the ERP.
  • Gain flexibility as you maintain one single file (ISO20022 xml.) for all payments to account holders at Eurobank and other banks.
  • Get detailed, continuous updates about the status of payment execution and completion.
  • Execute one-off or mass payments with a single file.
  • Receive a response file with the transaction log at the service channel, which updates your business ERP system.
  • Have a maximum limit of €50,000 for international transfers.
  • Set the maximum limit for domestic transfers, based on your e-Banking user limits and your agreement with Eurobank.
  • Choose the fee charging type for simple credit transfers.

How it works per service channel

Through SWIFT SCORE (FileAct)

  1. Sign a SCORE agreement so you can send us payment orders from your own unique BIC (Bank Identification Code), also known as a SWIFT code (Society for Worldwide Interbank Financial Telecommunication).
  2. Send pain.001 (SWIFT FileAct) files, according to our specifications.
  3. Track the processing and execution of your payments through your e-Banking, with the response files (pain.002) you receive.

Through e-Banking

  1. Import a payment file into your e-Banking.
  2. If your business has set up an approval flow or is part of one, you receive approvals of the payment file by select users.
  3. Receive a response file to update your systems.

Through SFTP

  1. A mass payments file is generated (pain.001 ISO20022 xml) directly by your ERP system, in line with our specifications.
  2. The file is approved according to the criteria and approval tiers of your business through your ERP.
  3. Once it is approved, the file is sent to us for execution (automated flow). Alternatively, you can upload the file on your business ERP and give the approvals through e-Banking (semi-automated flow).
  4. The file is uploaded via an automatic rule to our secure SFTP server (two-factor authentication), according to the Eurobank security rules.
  5. A response file is generated (pain.002 ISO20022 xml) once we process and execute the payment file.

Sign up to Mass Payments

For further information, get in touch with the dedicated Eurobank Transaction Banking experts at PaymentsCashManagement@eurobank.gr.