SWIFT GPI
SWIFT GPI (global payments innovation) is a set of rules and services on the Swift network that makes cross-border payments trackable end to end. Each payment carries a unique reference, every bank in the chain reports its status to a central tracker, and the final bank confirms when the beneficiary has been credited.
Why GPI exists
Before GPI, an international transfer could pass through two or three correspondent banks with no shared view of where it was. Senders found out about a delay or a deducted fee only when the beneficiary complained. Swift launched GPI in 2017 to fix three things: speed, visibility and fee transparency.
How a GPI payment works
- The sender's provider gives the payment a UETR, a 36-character reference that stays with it all the way.
- Each bank that handles the MT103 or its ISO 20022 equivalent updates the GPI Tracker: received, forwarded, fees deducted, credited.
- The beneficiary's bank sends a confirmation when the money reaches the account, or a rejection with a reason.
What GPI gives a business sender
You can ask your provider for the tracker status of a payment by its UETR and get a precise answer, such as "held at the intermediary in New York since 10:14". Fees taken along the route are visible. Swift's own figures from 2020 showed 40% of GPI payments credited within 30 minutes and 92% within 24 hours. Delays that remain usually come from compliance checks, cut-off times or incomplete beneficiary data, not from the network.GPI also includes Stop and Recall, which lets a sender's bank ask every bank in the chain to stop a payment sent in error, and Swift Go, a variant for low-value payments with fees and speed set in advance.FAQ
Swift is the messaging network. GPI is a service layer on top of it with tracking, confirmation and fee rules that participating banks agree to follow.
Ask your payment provider for the status by UETR. Only banks and their clients can query the tracker; there's no public lookup.
No. Most GPI payments are credited the same day, but sanctions screening, missing information or local cut-offs can still hold a payment.
Your provider can send a Stop and Recall request. It works only if the money hasn't been credited yet and every bank in the chain cooperates.
Related terms and sources
UETR · MT103 · ISO 20022 · Correspondent bank · BIC code · OUR, SHA and BEN · Browse the full glossary
Last reviewed October 21, 2026Disclaimer
This publication is provided for general information purposes and does not constitute legal, tax, or other professional advice from Narvi Payments Oy Ab or its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
This publication is provided for general information purposes and does not constitute legal, tax, or other professional advice from Narvi Payments Oy Ab or its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
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