How do I verify a SWIFT transaction?

How to Verify a SWIFT Transaction

SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a global messaging network that facilitates secure financial transactions between banks. SWIFT messages are used for a variety of purposes, including international wire transfers.

To verify a SWIFT transaction, you will need to have the SWIFT message for the transaction. This message is typically provided by the sending bank. Once you have the SWIFT message, you can use the following steps to verify the transaction:

1. Identify the MT199 message. The MT199 message is the SWIFT message type that is used for international wire transfers. The message will start with the following header:

MT199/{Sequence Number}/{Total Number Of Messages}

2. Check the sender and recipient banks. The sender bank is identified in the “Sender’s Reference” field of the message. The recipient bank is identified in the “Receiver’s Reference” field.

3. Verify the amount and currency. The amount of the transfer is identified in the “Amount” field of the message. The currency is identified in the “Currency” field.

4. Confirm the date and time of the transfer. The date and time of the transfer is identified in the “Value Date” field of the message.

If you have any questions about the SWIFT message or the verification process, you should contact your bank.

Additional Tips

• Always request a SWIFT message for any international wire transfer.
• Keep a record of all SWIFT messages for your transactions.
• Review your bank statements regularly to ensure that all wire transfers have been processed correctly.