swift-gpi

SWIFT gpi

The Future of Cross-border Payments – Faster, Transparent and Traceable

SWIFT gpi

The Future of Cross-border Payments – Faster, Transparent and Traceable

At a Glance
SWIFT's Global Payments Initiative (GPI) service aims to transform the customer experience in making cross-border payments joyful. Corporates can now have the ability to access information through end-to-end cross-border payments tracking in Singapore and Hong Kong. Offering a faster, transparent and traceable cross-border payments, our customers can benefit by having an even more efficient cash management with a faster turnaround time. With this new solution, corporates can now know the status of their cross-border payments in real time, such as whether funds have been received by the beneficiary or whether the funds are still being processed. They will be able to know the amount being credited into the beneficiary account, foreign exchange rate applied and even the time taken for funds to be credited to the beneficiary.

Faster

Same-day use of funds for your cross-border payments.
*Subject to the published cut-off timing of the receiving GPI bank

Traceability & Transparency

The payer has the visibility whether their supplier/beneficiary’s account has been credited. The amount credited to the beneficiary and the FX applied is readily available, leading to a reduction in disputes and reconciliation issues

Rich Information

Enables payer to include up to 140 characters of remittance information to help the beneficiary know the payment details.

FAQs
How fast will SWIFT GPI process the cross-border payments?

SWIFT GPI is governed by service-level agreements which requires to process or notify the status of your cross-border transactions within just 4 hours! Customers will experience faster turnaround time for their cross-border transactions.
How can corporates be entitled to use SWIFT GPI?

This capability is a default for our customers’ outgoing payments. All eligible cross-border payments will automatically be routed through GPI.
Which banks are participating for GPI?

For the list of participating banks, click here.
To know that banks’ live status and certification, click here.
How do we trace the cross-border payments?

DBS customers can trace their GPI transactions status through DBS IDEAL or by contacting the DBS BusinessCare Team.
How do I apply?

Simply contact your Relationship Manager or DBS BusinessCare by calling 1500380 (Indonesia) or +6221 8082 6902 (Overseas). We are available Monday to Friday (except public holidays), between 08:00 - 17.00.

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