SWIFT gpi

Overview

SWIFT Global Payment Initiative (gpi) is a global industry based solution that speeds up and improves traceability of cross-border payments. Each individual SWIFT payment initiated by banks will carry a Unique End-to-End Transaction Reference (UETR), allowing you to trace your payment easily along the payment route, right until the crediting bank account.

Benefits

Greater transparency on cost and status of payment

Visibility on all fees and foreign currency conversion rates
Trace and track your payment with a UETR

Receive near real-time notifications

Retrieve or get near real-time notifications of your payment status via UOB’s digital channels

UOB’s value-added digital channels

UOB Infinity (digital banking for business)

Track incoming and outgoing cross-border payments from end-to-end and enjoy full visibility of the payment status, charges, and FX rates applied (where applicable) anytime, anywhere.

UOB eAlerts!

Receive email and/or SMS alert notifications when your SWIFT payment has been successfully credited to your beneficiary.

SWIFT gpi GFD Reports

Receive a daily end-of-day consolidated report of the payments that have been successfully credited to your beneficiary to facilitate your reconciliation process.

Register for our digital channels to use the SWIFT gpi solution

UOB Infinity
Find out more on how to track your SWIFT gpi payments via UOB Infinity here.
UOB eAlerts!
Find out more and register for UOB eAlerts here.
SWIFT gpi GFD reports
Find out more and register for UOB Infinity here.

FAQ

How does SWIFT gpi work?

In order to facilitate tracking, each individual SWIFT MT103 payment initiated by banks will carry a Unique End-to-End Transaction Reference (UETR). The UETR will be carried all the way from the initiating bank of the payment down to the ultimate beneficiary bank.

Banks along the payment chain will be required to provide updates on the payment and are subjected to the agreed SWIFT Service Level Agreements (SLA). The SLA dictates that banks will have to provide an update of the payment within 4 hours once received the payment.

What do I need to do to use SWIFT gpi?

No action is required from your perspective. SWIFT gpi is defaulted for all eligible cross-border payments sent by UOB Malaysia.

Does it mean that all telegraphic transfers made will have the full benefits of gpi payment?

No, SWIFT gpi information flow is dependent on the participation level of individual banks. Where banks are gpi enabled, they are subjected to SWIFT agreements to ensure compliance of information flow. Find out which are the gpi enabled banks at the below external URLs.

Please refer https://www.swift.com/our-solutions/swift-gpi/the-digital-transformation-of-cross-border-payments/members for list of participating gpi banks.

Please refer https://www.swift.com/topic/34641/certification/banks for list of bank capabilities.