What is SWIFT gpi? How international bank transfers got trackable
By SendPay Business · · 2 min read
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.
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
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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. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.