In this article, we cover how to track an international wire transfer. When we write about International Wire Transfer then, that means we transfer funds from a bank account to a bank account in another country. Most of the time, it is sent through a global financial messaging network: SWIFT (Society for Worldwide Interbank Financial Telecommunication). The SWIFT messages contain payment instructions.
In most cases, the International Wire Transfer is settled within 5 business days. At times, it takes longer than that.
And, when it takes longer than usual, it is better to contact your bank.
Track an International Wire Transfer
If you have initiated a request yourself through your bank’s online platform. You may get a unique payment reference number from the bank. You can track it through this reference number at least till the amount is there in the traceable network.
If it has gone out of the traceable network, then we need to request the MT103 document from the bank. All the necessary details are provided in the MT103 document. It also acts as proof of payment that you have made the transfer. Generally, it isn’t provided when you initiate a transfer. But, if you request it to the bank then the bank has to make it available for you. Your bank may charge you for making it available to you. Forward the copy of MT103 to the beneficiary.
Also, you can ask your bank to trace the funds for you. They may charge you for that as well.
On the other hand, if you expect a wire transfer and the amount hasn’t been credited even after 5 Business days. Then, you need to ask the sender for the following data: SWIFT UETR (Unique End to End transaction reference number), the Date on which the transfer was made, Sender’s currency, and Sender’s amount.
You can then provide this data to your bank. And, ask them to trace the funds. If they can’t then contact the Sender again regarding the transaction.
We have covered here the basics of tracking an international wire transfer. We can initiate cross-border payments through various means. Not possible to cover each of those in one article.
Apart from that, one may be asked to submit relevant documents or comply with financial regulations before they could send and receive cross-border payments. And, that would be different for everyone. So, contact your bank before initiating a request.
