MT103: What Is It, Why It Matters, and How to Get One

If you've ever waited on an international payment that seemed to vanish into thin air, you’re not alone. Whether you're an exporter, freelancer, or business owner dealing with cross-border transactions, one document that often comes up during these moments of confusion is the SWIFT MT103.

Think of it as the digital receipt for your international wire transfer — a standardised message issued by the sender’s bank that includes key details like the sender, recipient, transfer amount, currency, reference numbers, and even charges applied along the way.

In this guide, we’ll walk you through what a SWIFT MT103 message actually is, why it matters (especially when payments are delayed or under dispute), how to get one from your bank, and how it can help you track down an international transfer.

We’ll also show you how platforms like Skydo make tracking international payments easier, no MT103 needed.

What is SWIFT MT103 ?

An MT103 is a standardised SWIFT message format used by banks to confirm that an international wire transfer has been sent. It acts as a proof of payment, kind of like a digital receipt that travels with your money.

When you send money internationally through the SWIFT network, your bank generates an MT103 message and shares it securely with the recipient’s bank. This document contains all the essential transaction details, including:

Banks use this message to track and trace international payments, especially when there's a delay or a dispute. You can request a copy of your MT103 document from your bank after the payment is sent.

What is MT103 SWIFT document used for?

While not required for every international payment, the MT103 can be incredibly helpful, especially when you're sending or receiving large sums, or if something goes wrong. Here's why it matters:

1. Proof of Payment: Think of MT103 as your official receipt for a SWIFT transfer. If you're the sender, you can share it with your client to confirm the payment has been made. If you're the recipient, it helps verify that a payment is on the way and not just "in process."

2. Easy Tracking: If your money’s stuck or delayed somewhere, especially at an intermediary bank, the MT103 helps your bank trace the transfer. It shows where the payment has reached, which bank is currently holding it, and what step it’s at.

3. Fewer Misunderstandings: Because it follows a global standard, every bank understands the MT103 format. This makes it easier to resolve issues, confirm transactions, and keep communication clear between banks across countries.

Imagine you’ve paid an overseas supplier, but they claim the funds haven’t arrived. You contact your bank, and they confirm the SWIFT transfer went through, but now you’re stuck in the middle. This is where the MT103 comes in.  By obtaining the MT103, you get a detailed record of the payment showing when and where the money was sent. You can forward this to the beneficiary as proof, and your bank can use the reference in the MT103 to help trace the payment’s path and find any bottlenecks.

MT103 Format and Fields (Understanding the Details)

An MT103 message contains various coded fields that together provide all the transaction information. 

Sample SWIFT MT103

An MT103 SWIFT message contains all the details necessary for processing a transfer. Here’s what a typical MT103 includes:

All this information helps ensure that the transaction flows smoothly and gets where it needs to go.

Every MT103 message will have certain tags using which you can decode the MT103 message. Here we will be describing all the mandatory tags that are present in every MT103 SWIFT message and a few optional ones:

Mandatory Fields in an MT103 

Optional Tags

Beyond the mandatory tags, MT103 SWIFT message may also contain a few optional tags including:

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You don’t necessarily need to memorise these fields, but if you ever receive an MT103, this breakdown can help you read it. For most users, the key things to check are: reference number, dates, amounts, and that the beneficiary info is correct

How do I get SWIFT MT103 from my bank?

If you’ve made a SWIFT transfer and need proof that the payment was sent, the MT103 is what you’re looking for. Here's how to get it—step by step:

1. Make the Transfer: An MT103 is automatically generated every time a SWIFT transfer is made. But here's the catch: banks don’t send it to you by default. You’ll need to specifically request it.

2. Contact Your Bank:  Once the payment is sent, reach out to your bank’s customer service. You can usually do this via phone or through online banking. Some banks have a “SWIFT copy request” option on their portal—check if yours does.

3. Provide Transaction Details:  Your bank may ask for information like the date of the transfer, the amount, and the recipient’s details. This helps them pull up the exact transaction.

4. Wait for the Document:  It can take anywhere from a few hours to a couple of days for the MT103 to be issued. Some banks may charge a small fee (typically between $20–$40), and they’ll usually email it to you as a PDF or hand over a physical copy.

Important Tip: If you’re the receiver of the payment, you can’t request the MT103 directly from the sending bank. Only the sender or the sender’s bank can generate and share it. So if you’re waiting on funds, ask your client to contact their bank and send you the MT103.

In India, some banks may refer to the MT103 as a “SWIFT Advice” or “SWIFT Copy.” The terminology can vary, so don’t worry if the term isn’t consistent; just ask clearly for proof of the SWIFT transaction.

When should you request it? Since some banks may charge for it, it’s best to request an MT103 when you actually need it, like if a payment is delayed, stuck with an intermediary bank, or you need documentation for compliance or record-keeping.

Who can request MT103?

The sender of the international payment is usually the only one who can request an MT103 from their bank. That’s because MT103 is generated by the sending bank and often shared only with their account holder, not the recipient, for privacy and compliance reasons.

If you’re the recipient waiting on a payment, you won’t be able to request the MT103 directly from the bank. Instead, you’ll need to ask the sender (or their finance team) to get the MT103 and share it with you.

💡 Note for Businesses: If you're managing payments on behalf of your company, say, in the finance or accounts team, you can request an MT103 just like an individual, as long as your company is the account holder making the transfer.

How to Track a SWIFT Payment Using MT103 

International wire transfers via SWIFT can sometimes take longer than expected, especially if the funds are routed through multiple intermediary banks. If your payment hasn’t arrived within 2–5 business days, it’s natural to want to track where it’s stuck.

That’s where MT103 comes in. It acts like a tracking slip, providing key reference details that allow banks to trace the payment across the SWIFT network.

Using the MT103 Reference to Track Your Payment

Every MT103 document includes a unique reference code, known as the Transaction Reference Number or SWIFT reference (Field 20). Think of it as your payment’s tracking ID.

Once your bank has this code, or the UETR (Unique End-to-End Transaction Reference) found in newer SWIFT GPI transactions, it can query the SWIFT system and check the status of your payment. This includes identifying where the payment currently is (e.g., still with the sender’s bank, in an intermediary bank, or already credited).

Many major banks now support SWIFT GPI, which updates payment status in real time. Some even offer customer-facing portals, while others can provide updates through support teams.

MT103 vs. SWIFT gpi: What’s the Difference?

MT103 is like your courier receipt; it proves you shipped something and gives you a tracking number. SWIFT gpi is the live tracking system, showing you exactly where the parcel is on its journey.

Do You Always Need an MT103? (Alternatives and Best Practices)

While MT103s are undoubtedly helpful, especially when payments go missing, they’re not always the most convenient solution. You have to request them from your bank, wait a few hours (or days), and sometimes even pay for access. In 2025, businesses want something simpler.

That’s why modern fintech platforms have reimagined the experience.

Instead of waiting for a SWIFT receipt, platforms like Skydo offer built-in payment tracking. With Skydo, for example, you can see the real-time status of your international payment, whether it’s in transit, credited, or delayed, right from your dashboard. No need to call your bank or dig through emails.

You also avoid SWIFT fees entirely. Skydo gives you local virtual accounts in countries like the US, UK, and Europe, so your clients can pay you like a local via ACH, SEPA, etc. That means no $25-$40 charges, fewer delays, and no need for an MT103 in the first place.

Traditional Bank Transfer:

With Skydo:

Sometimes, not needing an MT103 is the best-case scenario, and platforms like Skydo are built exactly for that.