The Basic Tracker
Overview
Our free Basic Tracker enables you to track all your payments from end-to-end in real time. It also allows you to manually confirm payments and meet the requirements around universal confirmations.
The Basic Tracker is easy to access via an online interface, providing user-friendly tracking and confirmation features, as well as letting you benchmark your own performance against the rulebook. All Swift-connected financial institutions have been pre-provisioned to access the Basic Tracker, just log in to your MySwift profile below to get started.
- Payment tracking
Access basic search and tracking features. - Meet confirmation requirements
Meet the new confirmation requirements coming into effect in November 2020. - Free to all Swift members
The Basic Tracker is free to use and can be accessed via a simple user interface.
How to get started with the Basic Tracker
Our Basic Tracker is a great way to track and confirm your cross-border payments. And best of all, it’s free and you can get started straight away. If you haven’t already, you might want to register for a MySwift account.
Here’s a couple of tips to help.
- Choose your connection path
There’s a couple of ways you can get access to the Basic Tracker. Don’t worry though, our interactive step-by-step connection guide will walk you through your options and help you decide the best approach.
- Understand the basics with our e-learning module
Our Swift Smart module will give you and your team all the information you need to use the Basic Tracker and make the most of the tool.
- Familiarise yourself with the operations guide to get started
Our interactive user guide contains the key technical details you need to get up and running quickly.
Observer rules
What happens if I don’t confirm 80% of my payments?
Our free Basic Tracker enables financial institutions to access basic payment search and tracking features, as well as manually confirm their customer payments to comply with the Universal Confirmations mandate.
Many financial institutions are already using the Basic Tracker and enjoying access to these features. From 22 November this year (SR2020), there will be new rules in place to ensure that institutions comply with Universal Confirmations.
Here’s what you need to know:
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All Financial Institutions (in specific categories) are measured on their Universal Confirmations compliance since May 2020 (you must provide an update to the Tracker within two business days of receipt of the instruction).
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Initially, this will only be visible to yourself and will not impact the locking/unlocking of basic tracking features until SR2020. This information will be available as a separate tab in the Basic Tracker (Note: for gpi members, your Universal Confirmations performance for all your BICs is already available in Observer Insights since December 2019.)
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From 1 June 2021, your Universal Confirmations compliance will become visible to the whole community, in the Observer Insights (for gpi members) and in the Basic Tracker Observer (for non-gpi members).
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A simple traffic light system will be in place to monitor compliance and will work accordingly:
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Green indicates institutions are fully compliant.
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Orange indicates institutions are not compliant for one week. In the case of an orange indicator, institutions have 12 weeks to reach compliance before being issued a red rating.
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Red indicates institutions that are not compliant and have missed the 12-week compliance cut off.
Please note: The improvement period starts before SR2020, from 5 September 2020. Therefore, if financial institutions are still not compliant two weeks after SR2020, they will become red and therefore lose access to the search and tracking functionality on the Basic Tracker.
For more information about these rules, please visit the Basic Tracker documentation
Unlocking payment confirmations for all
Since the 22 November 2020, every MT 103 sent on the Swift network contains the final confirmation on its outcome.
That means that every eligible institution will need to be able to update the Tracker when a payment has been credited to the end beneficiary, rejected or transferred outside of the Swift network.
To help you on this journey, we have a number of automated and manual ways you can confirm your payments.