What is an MT103? The SWIFT payment message explained
By SendPay Business · · 2 min read
An MT103 is the standard SWIFT message banks have long used to send a single international payment for a customer. Because it records who sent what to whom, people often ask for a copy as proof that a payment was made.
What an MT103 shows
It includes the date, amount and currency, the sender and receiver, their banks and SWIFT codes, the payment reference, and who pays the charges. It also carries a unique reference that banks use to trace the payment.
Using it to trace a payment
- Ask the sending bank or provider for the MT103 or payment confirmation.
- Share the reference and details with the person expecting the money.
- Their bank uses the reference to find the payment in its system.
- If it is held at an intermediary bank, the reference shows where to look.
MT103 and ISO 20022
SWIFT has been moving cross-border payments to the newer ISO 20022 format, where the equivalent message is called pacs.008. It carries richer, structured data, but many people still say MT103 when they mean the payment confirmation.
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This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.