MT103 Vs. SWIFT GPI: What’s the Difference?

Many have been asking us the difference between MT103 and SWIFT GPI Automatic, learn MT103 and SWIFT GPI difference this article.

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MT103 AND SWIFT GPI DIFFERENCE

It is worth noting that SWIFT gpi is a newer initiative to modernise cross-border payments. MT103 is a message (a document) confirming the payment was sent. SWIFT gpi, on the other hand, is a tracking system/network upgrade that allows end-to-end visibility in real time.

If we use a courier analogy, MT103 is like your shipment receipt and tracking number, whereas SWIFT gpi is the online tracking system you plug that number into, to see exactly where the package (payment) is.

Many banks now embed the UETR from SWIFT gpi into the MT103 message itself, effectively linking the two. The table below summarises it:

Features And What It Is

• SWIFT GPI: Real-time payment tracking across banks (status updates)
• MT103: Confirmation of payment sent (receipt with details)

What Is Generated ?

• SWIFT GPI: Throughout the payment journey (continuous updates)
• MT103: At the time the payment is initiated (one-time message)

What Info Does It Include?

• SWIFT GPI: Yes – updates like “in transit”, “credited” etc., often via UETR
• MT103: Contains reference numbers (including UETR) and all details, which can be used to track manually

The User Access

• SWIFT GPI: Banks (and sometimes customers through portals) can check live status
• MT103: Customers use it for proof and can give it to banks to trace a payment manually

MT103 is like your proof that something was sent (and gives you the reference to track it), and SWIFT gpi is the technology that can show you exactly where it is in transit. If your bank supports SWIFT gpi, you may not even need to request an MT103 to know the status – some banks let you see the progress via online banking. But if not, having the MT103 and contacting the bank is the way to trace the payment.

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