Tuesday, August 29, 2023

how do I check UETR in my SWIFT Alliance database for recycling?

 To check the UETR in your SWIFT Alliance database for recycling, you can follow these steps:

  1. Log in to your SWIFT Alliance database.
  2. Navigate to the payment message that you want to check.
  3. Look for the UETR field in the message. The UETR is a unique, unalterable reference that allows a payment to be located at any time, by any of the parties in the chain
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  4. If you are unable to find the UETR in the message, you can try searching for it using the International Payment Tracker. To do this, enter your UETR number and press search. If you would like to share the results of the search, you can press the "copy URL" button, send the link to someone
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It is important to note that UETRs are fully traceable and can be used to track payments in real-time for credit transfers
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 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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What happens if a UETR is reused in SWIFT Alliance?

If a UETR is reused in SWIFT Alliance, it can cause tracking issues and additional costs to the community
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 This is because UETRs are designed to be unique and unalterable references that allow payments to be located at any time, by any of the parties in the chain
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 Reusing a UETR can make it difficult to trace the payment associated with it, which can lead to errors and delays in payment processing.To prevent UETR recycling, SWIFT has implemented measures to reject payment messages that contain reused UETRs
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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. 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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