What is SWIFT gpi? How international bank transfers got trackable
By SendPay Business · · 2 min read
- 1Start from the UK
- 2Send to the countries you choose
- 3It arrives in their own currency
SWIFT gpi, short for global payments innovation, is a service SWIFT launched in 2017 to make international bank transfers faster and trackable. Before it, a cross-border payment could pass through several banks with little way of seeing where it was.
What it changed
Banks using gpi can follow a payment through every bank it passes, see fees taken along the way, and confirm when it has been credited. Many gpi payments now reach the receiving bank within minutes or hours rather than days.
The tracking reference
Each gpi payment carries a unique end-to-end transaction reference, often called a UETR. If a transfer is delayed, your bank can use this reference to see which bank is holding it and why.
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How it fits together
- You send an international transfer from your bank.
- The payment gets a UETR and travels through correspondent banks.
- Each bank updates SWIFT's tracker as the payment moves.
- The receiving bank confirms the credit, and the sender's bank can see it.
Where SendPay fits
SendPay platforms include GBP, EUR and USD accounts and transfers, powered by licensed partners, so your customers can send and receive money in your own branded app.
How it works
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- 2Choose what it does
- 3Launch when you are ready
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SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.
Questions people ask
Who pays the charges on an international transfer?
See what you pay and what the recipient gets under OUR, SHA and BEN.
International transfer charges calculator →Read next
Spotted a mistake or something out of date? and we'll fix it. How our guides are made
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.