Tuesday, August 29, 2023

How can you detect recycled UETRs in SWIFT Alliance system?

 To detect recycled UETRs in SWIFT Alliance system, you can use the UETR recycling prevention measures implemented by SWIFT. Here are the steps to detect recycled UETRs:

  1. Monitor monthly the transaction owners who fail the validation rules
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  2. Check the email or Service Manager notifications from SWIFT to identify any recycled UETRs
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  3. Use the new rule implemented by SWIFT to identify transaction owners and the NAK rule to reject payment messages that contain reused UETRs
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  4. Log any occurrences of UETR recycling and alert customers
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  5. Follow market practices and guidelines provided by SWIFT to avoid UETR recycling issues
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UETRs are generated automatically by SWIFT Alliance when a payment message is created. The UETR is a string of 36 unique characters featured in all payment instruction messages carried over SWIFT
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 It is designed to act as a single source of truth for a payment and provide complete transparency for all parties in a payment chain, as well as enable functionality from SWIFT gpi, such as the payment Tracker
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