One of the most stressful payment situations: your client is insisting they sent the money, you're showing nothing in your account, and you don't want to damage the relationship by seeming to accuse them. This guide gives you the exact steps to trace, find, and recover a wire your client sent but you haven't received.
First: Don't Accuse, Investigate
The most important thing to get right in the first 24 hours is tone. In the vast majority of cases, the client DID send the money. The wire is just delayed, misdirected, or caught in a compliance hold somewhere in the chain.
What to say to your client:
"Thanks for confirming you've sent it. I haven't seen it appear yet on our end — this sometimes takes a few additional days depending on the intermediary banks. Could you please share the wire confirmation reference from your bank? That'll help me trace it on our side."
This is factual, non-accusatory, and gets you the MT103 you need to trace.
The MT103: Your Most Important Tool
The MT103 is the SWIFT message that documents the wire transfer. It contains:
- Sending bank name and BIC
- Sending account details
- Beneficiary name and account
- Amount and currency
- SWIFT reference number
- All correspondent banks in the routing chain
- Any error or hold codes How to get it: Ask your client to request the "SWIFT MT103" or "wire confirmation" from their bank. Any bank that has sent a SWIFT wire can provide this. It may take 1-2 business days from the bank.
Step-by-Step Investigation
Step 1: Get the MT103 from your client.
Step 2: Check for the most common culprits in the MT103.
- Is the beneficiary name exactly right? (Single character mismatch causes holds)
- Is the account number correct?
- Is the SWIFT/BIC code correct?
- What is the routing chain? (Which correspondent banks are in the middle?) Step 3: Contact your Indian bank's FOREX desk.
Provide the MT103 SWIFT reference number. Ask them to trace the incoming wire. They can check whether it's in their nostro account (received but not yet posted to your account) or still in transit.
Step 4: If using Playto Pay VBA, contact Playto Pay support.
Provide the MT103 reference. Playto Pay's banking partner can trace the incoming wire on their end.
Step 5: If wire is at correspondent bank, escalate.
Your client's bank can contact the correspondent bank directly using the SWIFT reference. This is called a "SWIFT trace" or "wire trace." It usually resolves within 2-3 business days.
Step 6: If wrong account details, initiate recall.
If the MT103 shows correct details from sender but your bank confirms nothing received: the wire may be sitting at correspondent bank due to a bank-side error. If details were wrong: client's bank initiates a wire recall.
How Long Each Scenario Takes to Resolve
| Scenario | Resolution Time |
|---|---|
| Wire in transit (normal delay) | 1-3 additional business days |
| Wire in correspondent bank queue | 2-5 business days after trace initiated |
| AML compliance hold | 3-7 business days after documentation provided |
| Wrong beneficiary name | 5-10 business days after correction initiated |
| Wrong account number | 7-14 business days for recall + resend |
| Wire returned to sender | 5-7 days to return + resend |
How VBA Eliminates Most Wire Tracing Problems
The main reason international wires go missing is the SWIFT correspondent bank chain. When your US client sends to your Indian bank via SWIFT, the wire travels through 1-3 correspondent banks. Each is a potential delay or error point.
With Playto Pay USD VBA:
- US client sends to a US bank account (your USD VBA)
- Domestic US wire — no SWIFT, no correspondent chain
- Same-day or next-business-day arrival at VBA
- Playto Pay converts and credits your Indian bank daily
- Full transaction visibility in dashboard Result: The "wire sent but not received" scenario largely disappears for US client payments.
FAQ
What is MT103 and how does it help find a missing wire? MT103 is the SWIFT wire confirmation document containing the full routing chain, reference numbers, and error codes. It allows you and your bank to trace exactly where a wire is and why it may be held.
How long should I wait before chasing a missing international wire? Wait the expected transit time (2-4 business days for USD from US, 1-2 for SEPA EUR). If nothing after this window: start the MT103 trace process.
What if the client says they don't have the MT103? Any bank that sent a SWIFT wire can provide the MT103. Ask them to specifically request "SWIFT payment confirmation" or "MT103" from their bank's wire transfer or international payments department.
Does Playto Pay VBA eliminate wire tracing problems? For clients in US, UK, EU, UAE: yes. VBA converts the international wire to a domestic wire for your client. No SWIFT chain = no missing wire scenarios.