The words on your payment, explained in two sentences each.

Everything that appears in a quote, a status, an MT103 or a compliance request. Where a term has a practical consequence for you, it says so.

MT103: The SWIFT message with which a bank sends a customer transfer. It proves the payment was sent, with amount, date, sender, beneficiary and reference; it does not prove the credit, which the beneficiary's bank confirms separately.
UETRunique end-to-end transaction reference: A 36-character identifier attached to every SWIFT payment. With it, the payment can be traced through correspondent banks in the gpi tracker, which is how we answer “where is it now”.
SHA · OUR · BEN: Who pays the bank charges on a SWIFT transfer. SHA: the sender pays its bank, the beneficiary pays correspondent deductions; OUR: the sender pays everything and the beneficiary receives the full amount; BEN: all charges are deducted from the amount. We quote SHA by default and OUR for +$30.
SWIFT BICbank identifier code: The 8- or 11-character code of a bank, such as COBADEFF. It routes the payment to the right bank; a wrong BIC is a common reason for delays and returns.
IBAN: The international account number used in Europe, the Middle East and parts of Asia, with a checksum that lets us validate it before you pay. Countries without IBAN use a plain account number plus the BIC.
SEPA: The euro payment scheme covering 36 countries, with an end-to-end reference instead of an MT103. Arkipo pays euros by SWIFT from its Bank Mandiri account; SEPA payouts are not offered today.
Correspondent bank: An intermediary bank that passes a SWIFT payment between the sender's and the beneficiary's banks when they have no direct relationship. Each correspondent may deduct a fee under SHA and may hold a payment for a compliance question.
Cut-off: The time after which a bank processes a payment on the next business day. Our quotes show the cut-off for the chosen rail; payments confirmed before it are sent the same day.
BI-FAST: Indonesia's instant transfer scheme for rupiah. Payments arrive within minutes to hours; the beneficiary name must match the account exactly.
PromptPay: Thailand's instant payment scheme for baht, addressed by account, national ID or phone number. Baht payouts are arranged on request through our partners.
UAEFTS: The UAE funds transfer system for dirham payments between local banks. A purpose-of-payment code is mandatory. Dirham payouts are arranged on request through our partners.
Faster PaymentsFPS: The UK instant scheme for sterling (and the name of Hong Kong's scheme for HKD). Payments arrive within minutes, around the clock.
Payment on behalf ofPOBO: A transfer where the sender of record (PT Global Payment Gateway) pays an invoice for a client. The reference names the client and the invoice, and a letter confirms it for the beneficiary's accountant.
Agent agreement: The contract under which you instruct us to pay or collect on your behalf. Signed once; each payment adds a payment order with the amount, rate, fees, delivery terms and refund rule.
KYCknow your customer: Verification of an individual: identity document, liveness check, address, and for higher limits the source of funds. Done once, usually in three minutes.
KYBknow your business: Verification of a company: registry extract, directors, beneficial owners above 25%, the person acting for the company and the nature of the business. One to three business days.
MLROmoney laundering reporting officer: The person responsible for the anti-money-laundering programme: screening rules, reviews, reports to the authority and the refusal list. Named on the compliance page once appointed publicly.
Travel rule: The requirement to pass originator and beneficiary information along with a crypto transfer between service providers. It is why we accept USDT only from addresses whose owner we can identify.
Origin-of-funds screening: A check of where incoming crypto comes from before it is accepted. At Arkipo this check is made by the licensed conversion partners, who accept USDT only from addresses whose owner can be identified.
Enhanced due diligence: Extra checks for higher-risk countries, counterparties or amounts: the contract, the beneficiary's registration, sometimes proof of delivery. Shown as “Enhanced checks” on the countries page.
Rate lock: The 15 minutes after you confirm a quote during which the rate and fees are fixed. If the USDT arrives later, we re-quote and ask you to confirm again.
Market rate: The rate at which a currency trades at the moment of the quote. We convert at the market rate with no mark-up; our fee is a separate line.
Return and recall: A return is the beneficiary's bank sending the payment back (closed account, name mismatch, compliance). A recall is the sender asking for a sent payment back, which the beneficiary's bank may refuse.
StablecoinUSDT · USDC: A crypto token designed to track a currency, usually the US dollar. We accept USDT and USDC because they settle in minutes and carry no price risk between your transfer and the bank payment.
TRC-20 · ERC-20 · TON: The networks on which USDT exists: Tron (TRC-20, cheapest), Ethereum (ERC-20) and TON. Send only on the network shown in your order; tokens sent on another network cannot be recovered.