In a historic milestone for India's digital payment infrastructure, Greece's Eurobank has officially become the first bank in Europe to launch a cross-border remittance service using the Unified Payments Interface (UPI). The service was formally inaugurated during Union Minister Piyush Goyal's visit to Greece on June 30, 2026.
Seamless Cross-Border Transfers
Developed in a strategic partnership with NPCI International Payments Limited (NIPL), this groundbreaking service allows eligible customers in Greece to send money to India instantly, securely, and seamlessly. Users can bypass traditional, cumbersome wire transfers that require account numbers and IFSC codes.
Instead, funds can be sent directly using the recipient's simple UPI ID. The service is accessible 24/7 through the Eurobank Mobile App or via their e-Banking portal.
Key Details and Limits
- Daily Limit: Customers can transfer up to ₹1,00,000 per day.
- Eligibility: The sender must be a natural person with Indian nationality, Indian origin, birthplace in India, or maintain tax residency in India.
- Speed: Transactions are settled almost instantaneously, a massive upgrade over the multi-day delays of traditional SWIFT transfers.
A Gateway to Europe
This launch is more than just a convenience for the Indian diaspora in Greece; it represents a major geopolitical and economic victory for India. Financial experts predict that Eurobank's adoption will serve as a successful pilot, likely prompting other major European financial institutions to integrate UPI, challenging the long-standing dominance of Western payment networks.