Secure Your Transactions with MT103 Wire LOG | Direct Wire Transfer Explained
At Flash Funds, we prioritize privacy and transparency. Having immediate access to transaction information provides peace of mind and convenience, ensuring you stay informed every step of the way.
For inquiries, click HERE to contact the developer, or use the Telegram/WhatsApp icon on your screen.
What is an MT103?
An MT103 is a standardized SWIFT payment message used specifically for cross-border or international wire transfers. This format is utilized for all payments made via MT103s on our platform.
Our MT103 logs are globally recognized as proof of payment, detailing crucial information such as the transaction date, amount, currency, and the identities of both the sender and recipient. These logs are invaluable for tracing payments that are missing or delayed, as they outline the route taken by the payment through various banks.
Accessing Your MT103 on Flash Funds
As a Flash Funds user, you can easily view your MT103. After your payment is dispatched, log into your Flash Funds account, navigate to your completed payments, and click ‘View’. The MT103 log will appear at the bottom of the record, with an option to ‘copy to clipboard’ for easy forwarding to your recipient.
MT103 Fields Explained
Here are the definitions of the fields within an MT103 log:
| Field | Field Name | Description |
|---|---|---|
| :20 | Transaction Reference Number | Unique identifier for the transaction |
| :23B | Bank Operation Code | Specifies the type of operation |
| :32A | Value Date / Currency / Interbank Settled | Date and currency of the transaction |
| :33B | Currency / Original Ordered Amount | Currency and amount originally ordered |
| :50A, F, or K | Ordering Customer (Payer) | Details of the customer initiating the payment |
| :52A or D | Ordering Institution (Payer’s Bank) | Bank of the payer |
| :53A, B, or D | Sender’s Correspondent (Bank) | Correspondent bank of the sender |
| :54A, B, or D | Receiver’s Correspondent (Bank) | Correspondent bank of the receiver |
| :56A, C, or D | Intermediary (Bank) | Intermediary bank involved in the transaction |
| :57A, B, C, or D | Account with Institution (Beneficiary’s Bank) | Beneficiary’s bank details |
| :59 or 59A | Beneficiary | Details of the beneficiary |
| :70 | Remittance Information (Payment Reference) | Reference information for the payment |
| :71A | Details of Charges (BEN / OUR / SHA) | Specifies who bears the charges |
| :72 | Sender to Receiver Information | Additional information from the sender to the receiver |
| :77B | Regulatory Reporting | Information for regulatory reporting purposes |
Benefits of MT103
Confirmation
You receive confirmation that your payment has been sent, including all essential details such as recipient information and payment amount.
Evidence
MT103 serves as valid proof of payment. It is useful for providing to suppliers as evidence of payment or for reconciliation purposes in accounts payable.
Tracking
An MT103 log helps track the payment’s location, especially if funds are held up in regional clearing banks en route to the recipient.
Pricing
Here are the price variations for obtaining an MT103 log. Flash Funds users receive these logs instantly and for free with every transaction.
| MT103 Balance (USD) | Price (USD) |
|---|---|
| 10,001 – 15,000 | 500 |
| 15,001 – 20,000 | 650 |
| 20,001 – 50,000 | 1,200 |
| 50,001 – 75,000 | 1,700 |
| 75,001 – 100,000 | 2,000 |
| 100,001 – 150,000 | 2,500 |
| 150,001 – 200,000 | 3,000 |
| 200,001 – 400,000 | 5,000 |
| 400,001 – 650,000 | 6,500 |
| 650,001 – 1,000,000 | 10,000 |
Note: The above prices are for MT103 Wire Logs and not Flash Funds Pro.
For further inquiries, click HERE to contact the developer, or use the Telegram/WhatsApp icon on your screen.