What is MT103?
An MT103 is a Perfect SWIFT payment message used specifically for cross border/international wire transfers. We use SWIFT for all payments made via MT103s.
Our MT103 LOGs are globally accepted as proofs of payment and include all payment details such as date, amount, currency, sender and recipient.
Our MT103s are also great for tracing payments which are missing or delayed because they show the route of the payment between the banks.
Flash Funds user? – how do I view my MT103?
Once your payment has been dispatched, you can retrieve your MT103 by logging into your Flash Funds account, selecting your completed payments and clicking ‘View’. Your MT103 will appear at the bottom of the record. There’s even a ‘copy to clipboard’ function so you can forward it to your recipient.
MT103 fields
Use the table below to view the definition of the MT103 fields
| Field | Field Name |
| :20 | Transaction Reference Number |
| :23B | Bank Operation Code |
| :32A | Value Date / Currency / Interbank Settled |
| :33B | Currency / Original Ordered Amount |
| :50A, F or K | Ordering Customer (Payer) |
| :52A or D | Ordering Institution (Payer’s Bank) |
| :53A, B or D | Sender’s Correspondent (Bank) |
| :54A, B or D | Receiver’s Correspondent (Bank) |
| :56A, C or D | Intermediary (Bank) |
| :57A, B, C or D | Account with Institution (Beneficiary’s Bank) |
| :59 or 59A | Beneficiary |
| :70 | Remittance Information (Payment Reference) |
| :71A | Details of Charges (BEN / OUR / SHA) |
| :72 | Sender to Receiver Information |
| :77B | Regulatory Reporting |
MT103 Benefits
Having direct access to MT103 Wire LOG for each of your payments gives you greater control and information.
You have confirmation that your payment has been sent, including all the important details such as recipient information and payment amount.
Proof/Evidence
Serves as a valid proof of payment, whether to send to a supplier to serve as proof of payment or to accounts payable for reconciliation purposes.
Tracking The Transactions/Funds
An MT103 Wire LOG can help with payment location and tracking if the funds are held up in regional clearing banks on the way to your recipient.
WOW!!! How do I get one and how much does it cost?
Below is a table that displays the price variation of the MT103 LOG. These prices are subjected to the balance on the LOG. If you’re a Flash Funds user, you get them instantly and for free with every payment you make with us!
| MT103 Balance (USD) | Price ( USD ) |
| 10,001 – 15,000 | 510 |
| 15,001 – 20,000 | 680 |
| 20,001 – 50,000 | 1,200 |
| 50,001 – 75,000 | 1,750 |
| 75,001 – 100,000 | 2,100 |
| 100,001 – 150,000 | 2,600 |
| 150,001 – 200,000 | 3,050 |
| 200,001 – 400,000 | 5,000 |
| 400,001 – 650,000 | 6,600 |
| 650,001 – 1,000,000 | 10,000 |
Note: the prices listed above are for MT103 Direct Wire LOGS and not Flash Funds Pro.
For enquiry, click HERE to contact Developer. You can also use the WhatsApp Icon on your screen.