Sending money internationally is now more transparent and faster than ever with the introduction of SWIFT gpi (Global Payments Innovation). As part of this advanced system, you may have encountered the term “UETR number.” In this article, we will cover what a UETR number is and why it has become the standard in cross-border payments.
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What is A UETR Number?
A UETR number, or Unique End-to-End Transaction Reference, is a unique identifier assigned to each international payment processed through the SWIFT gpi (Global Payments Innovation) network. Introduced in November 2018, the UETR is a 36-character string that serves as a digital fingerprint for a transaction. Just as you can track a parcel’s journey from the sender to the recipient with a tracking number, the UETR functions as a tracking number for an international payment, allowing you to precisely track and monitor your cross-border payments from start to finish. This unique identifier ensures that every transaction is easily traceable, making international payments more transparent and secure.
UETR Number Example
The UETR is a UUID (Universal Unique Identifier), which means it is a 36-character alphanumeric code, here's an example:
Example UETR Number: 123e4567-e89b-12d3-a456-426614174000
A 128-bit number: This refers to the size of the identifier, ensuring it is globally unique.
Hyphens separating specific segments of the code: These make the UETR easier to read and identify its parts.
An example of a UETR number can be found in the image at the top of the page, on the third line down, underneath "Last Updated."
Where to Find the UETR Number
Depending on how you process your payment—whether through an online platform or over the phone—here are some places where you can obtain the UETR number:
When you initiate or receive an international payment, the UETR number is often displayed within the transaction details on your bank’s online platform. Look under the specific transaction history or payment details section.
If you receive a digital or physical bank statement, the UETR number may be included in the details of the international transaction. Similarly, payment confirmation emails or SMS notifications might also list the UETR.
If you cannot locate the UETR number through the above methods, you can contact your bank or financial institution directly. Customer service representatives can provide the UETR associated with your international payment upon request.
On the Rutland FX platform, you can find the UETR number by navigating to the search function, then clicking on “Payments.” Locate the specific payment you want the UETR number for and click on it—the UETR number will be displayed on this page.
How the UETR Number is Used in Cross-Border Payments
The UETR (Unique End-to-End Transaction Reference) number significantly improves the transparency and efficiency of cross-border payments. By entering the UETR into a SWIFT gpi tracker—or providing it to your recipient—you can easily check the exact status of your payment, see how long it took to process, and view any correspondent bank charges that were deducted along the way. This feature makes cross-border payments much more transparent, as you no longer have to rely on the recipient to confirm that the funds have arrived—you can check for yourself and know exactly when the payment reaches its destination. This not only speeds up the payment process but also helps build trust and accountability in international transactions.
UETRs are a great tool for enhancing the efficiency, transparency, and security of international transactions. By providing a unique identifier for each payment, UETR numbers ensure that funds can be tracked accurately from start to finish, benefiting banks, businesses, and individual customers alike. Understanding and utilising UETR numbers is essential for anyone involved in international financial operations, as they represent a significant step forward in modernising and streamlining global payments.
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