Tuesday, August 29, 2023

How can UETR recycling be avoided in SWIFT Alliance?

 To avoid UETR recycling in SWIFT Alliance, you can follow these guidelines:

  1. Do not reuse UETRs until all previous payments associated with the UETR have been fully settled and reconciled
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  2. If you need to reuse a UETR, make sure to delete it from the original payment message before using it in a new payment message
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  3. Be aware that SWIFT has implemented measures to prevent the reuse of UETRs. If a UETR is reused before all previous payments associated with it have been fully settled and reconciled, SWIFT will reject the payment message with the "U15" code
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  4. To avoid UETR recycling issues, it is advised to follow market practices and guidelines provided by SWIFT
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  5. Additionally, UETRs are a key component of the SWIFT global payments innovation (gpi) service, which aims to improve the speed, transparency, and traceability of cross-border payments
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     It is important to use UETRs correctly to ensure that payments are processed efficiently and accurately.
By following these guidelines, you can help prevent UETR recycling and ensure that payments are processed correctly in SWIFT Alliance.

What is the "U15" code in SWIFT Alliance?

The "U15" code in SWIFT Alliance is a code that is used to reject payment messages that contain reused UETRs. When a UETR is reused before all previous payments associated with it have been fully settled and reconciled, SWIFT will reject the payment message with the "U15" code to prevent using the same UETR for multiple payments
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 This is done to prevent tracking issues and additional costs to the community
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 It is important to follow the guidelines provided by SWIFT to ensure that UETRs are used correctly and to prevent any issues with payment processing.


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