GPI Tracking for Wires

Swift GPI (Global Payments Innovation). GPI provides additional details about the status of the transaction and can track where the transaction is while it is processing.

Overview

Since Swift cross-border transactions are passed to multiple correspondent banks, these transactions take time to reach the intended beneficiaries. With GPI tracking you can see the intermediary status details for Swift wire transactions.

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IMPORTANT

GPI tracking is only available for swift wire transactions.

Value addition

  • To trace delayed swift transfers, GPI tracking can be used as an effective alternative to the MT103 swift copy

  • You can enhance this further for your customers by creating transaction timelines on your portal or by sharing these details via texts/emails for those who prefer messages. A sample transaction timeline is presented in the graphic below.

  • Enhance visibility and transparency to reduce the number of queries you receive from your customers.

    Sample transaction timeline

    Sample transaction timeline

How you can access the GPI details?

GPI details can be obtained through the GPI object in the Fetch Remittance Lifecycle API and Remit Transaction Sent To Bank Webhook. The NIUM 1 client dashboard also displays GPI details at the transaction level in the Remittance Transaction Reports section.

GPI parameters

FieldDescription
reasonCodeGPI code shared by the SWIFT partner bank
statusDescriptionDescription of the GPI reason code
timestampDate and time of the last status change
forwardBankNameName of the next participant bank to which the payment has been forwarded.
forwardBankCodeBank identification code (BIC) of the next participant bank to which the payment has been forwarded.
remarksDetailed description of the reasonCode. This interpretation is provided by Nium.

Interpretation of gpi reason codes and associated status descriptions

Statusgpi.reasonCodegpi.statusDescriptiongpi.remarks
Sent_To_BankG000Delivered to next bankThe payment has been forwarded to the next participant bank in the swift network. It can be either credited to the beneficiary directly or passed to the next bank.
Sent_To_BankG001Delivered to next bank (no tracking)This often suggests the user may not receive GPI updates beyond this point and will receive a final terminal status.
Sent_To_BankG002Pending credit may not be same day.Often it means that the payment is under manual due diligence in the bank and settlement may take a few hours.
Sent_To_BankG003Pending receipt of documentation from the beneficiary.This often suggests an action on the beneficiary or beneficiary bank. The sender may contact the beneficiary in case of delays or can ensure that the beneficiary details provided are correct.
Sent_To_BankG004Pending receipt of funds from the previous bank.This suggests the forward bank (next swift network bank) has received an instruction to credit the funds to the beneficiary but it has not received the funds yet. Cover payment is missing but it is expected to arrive soon. The funds are expected to reach the beneficiary upon arrival of cover payment.
Sent_To_BankG005Delivered to beneficiary bank as GPI.This suggests that the payment will be credited soon.
Sent_To_BankG006Delivered to beneficiary bank as non GPI.This suggests that the payment will be credited soon.