For the most up-to-date information, navigate to the SWIFT payment tracking interface. Please note that these statuses may differ to what you see elsewhere within Direct for a particular SWIFT payment. In this situation, please allow 5 days for funds to return - if you still haven't received them after 5 working days, please contact status means that the beneficiary bank has confirmed to the SWIFT network that the ultimate beneficiary’s bank account has been credited with the payment. Rejected This status means that the payment has failed on its way to the beneficiary. For more information, check the Payment Tracker or Payment Events tab. Processing This status shows that the payment has been instructed by the paying bank but the beneficiary bank has not yet confirmed that the beneficiary has been credited. There are three statuses shown in the interface (as per the API): SWIFT payment tracking in Direct Statuses With SWIFT payment tracking, Currencycloud allows you to see which bank is currently processing that payment and all deductions. Some intermediary and beneficiary banks may charge to process SWIFT payments. As more banks are added, a chain is created. If the payer bank does not have an account with the beneficiary bank, they may have to go through an intermediary (or ‘correspondent’) bank. Rather than actually transferring funds, banks send one another instructions to debit or credit the accounts they hold with one another. SWIFT is a payment rail that functions by allowing participating banks to communicate payment orders to each other. ![]() You can now track in real time the status of a SWIFT payment made by you or your customers, with a full breakdown of charges deducted at each point in the journey. OverviewĬurrencycloud is proud to be a member of SWIFT gpi, an initiative designed to create further transparency and tracking capabilities for SWIFT payments around the world. ![]() This guide will help you navigate our SWIFT Payment Tracking interface within Direct and explain some of the features and terminology in detail. Our SWIFT Payment Tracking tool takes advantage of our connection to SWIFT gpi to provide you with visibility over SWIFT payments.
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