SWIFT gpi

    • SWIFT gpiSWIFT gpi

      Speed up and improve traceability of your cross-border payments with 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

    Faster payment processing

    Processing of payments are completed within 4 hours (for certain currencies and subject to the cut-off times of individual receiving banks)

    Greater transparency on cost and status of payment

    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)

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    UOB eAlerts

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    • 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.
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    • Receive email and/or SMS alert notifications when your SWIFT payment has been successfully credited to your beneficiary.
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    SWIFT gpi via UOB API Enquiry

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    SWIFT gpi GFD Reports

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    • If your company is API-enabled with UOB, you can utilise our API enquiry service to automate retrieval of SWIFT payment or receipt statuses and have the information delivered back to you 24x7.
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    • Receive a daily end-of-day consolidated report of the payments that have been successfully credited to your beneficiary to facilitate your reconciliation process.
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    Register for our digital channels to use the SWIFT gpi solution

    1. UOB Infinity
      Find out more on how to register and easily access gpi related information via UOB Infinity on desktop and mobile app here

    2. UOB eAlerts
      Find out more and register for UOB eAlerts here

    3. UOB API SWIFT gpi enquiry
      Find out more and register for UOB API services here

    4. SWIFT gpi GFD reports
      Please reach out to your Relationship Manager or email us at TransactionBanking@UOBgroup.com

     

    FAQ

    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.

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

    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.

    1. Date and Time Payment receive or paid
    2. Total Charges Levied on payment
    3. Foreign Exchange incurred (If any)
    4. Where is my payment?
    5. Has my beneficiary received my payment?
    1. SWIFT gpi Enquiry via UOB Infinity (digital banking for business)

      Free

    2. eAlerts – Email and/or SMS

      Email – Free
      SMS – Additional S$4 / Mobile / Month

    3. SWIFT gpi Enquiry via UOB API

      Additional S$50 / Monthly Subscription Fee

    4. SWIFT gpi GFD Reports

      Free