Your payment to India hasn't arrived. Here's how to trace it
Your bank says sent, your Indian vendor says nothing has landed. What to ask your bank for (the UETR and MT103), how to read the answer, and when to escalate or recall.
It is Thursday. The invoice was due on Monday, your finance lead paid it on Monday morning, and the banking app has said "Sent" ever since. Then your agency in Pune emails: nothing has arrived. You check the app again. Still "Sent". Nobody is lying, and nobody can tell you where the money is.
That gap is the normal state of an international bank payment for a few days, which is why "sent" and "arrived" need treating as two different facts. This post is about closing the gap: what to ask your bank for, how to read what comes back, when to involve the vendor, and when a recall is worth the trouble.
Why "sent" tells you so little
When your bank marks a payment as sent, it means one thing: the instruction has left your bank. A USD payment to India then usually passes through at least one correspondent bank before the vendor's bank in India receives it, and each bank in that chain runs its own checks and can hold the payment. Your banking app only sees the first hop. We covered the usual timelines and the reasons for holds in how long a payment to India actually takes. The short version: a bank wire typically takes 2 to 5 business days, and a hold at a correspondent bank is the common reason it takes longer.
So the first question is not "why is it late" but "where is it". Your bank can answer that, but usually only if you ask for the right thing.
The two things to ask your bank for
Ask for the UETR and a copy of the MT103. Most business banking teams know both terms. If the first person you reach does not, ask for the international payments team.
A UETR, the Unique End-to-end Transaction Reference, is a 36-character reference attached to every payment instruction carried over Swift. Swift's own description compares it to a courier's parcel tracking number: the sending bank issues it, every bank in the chain has to pass it on unchanged, and it lets the payment be located at any point by any party in the chain. Every bank originating an MT103 has to include one, so your payment has a UETR whether or not your bank showed it to you.
The MT103 is the payment instruction itself. It shows the amount, the currency, the beneficiary details exactly as they were typed, the charge option (OUR, SHA or BEN) and, in field 121, the UETR. It is also the document your vendor's bank will ask for if it needs to find a payment that has arrived without a clear reference. Some banks charge for a copy, so check your tariff before you ask for one on every payment.
Some banks now show a tracking status for outgoing international payments inside their business banking platform. If yours does, that status comes from the same Swift tracker your bank's payments team would otherwise read for you, so look there first.
Reading the answer
With the UETR, your bank can look the payment up in the Swift GPI Tracker, which Swift describes as giving visibility from initiation to confirmation, including the fees charged at each stage and the reason a payment was rejected. Since 22 November 2020, financial institutions receiving a customer credit transfer over Swift have had to confirm to the tracker when the payment is credited, placed on hold, or passed outside Swift. In practice the answer you get will be one of three things.
| Status | What it means | What to do |
|---|---|---|
| Credited at the beneficiary bank | The money reached your vendor's bank on the date shown. | Give the vendor the date, amount and UETR and ask them to raise it with their bank. |
| In progress at a named bank | A correspondent bank or the vendor's bank is still processing it, often a compliance check. | Ask your bank what the holding bank has requested, if anything, and when it last updated. Note the date. |
| Rejected or returned | A bank in the chain refused it and the money is on its way back, less any charges. | Ask for the reason, fix the detail that caused it, and expect the return to take days rather than hours. |
Swift's own figures are that nearly 60% of GPI payments are credited within 30 minutes and almost all within 24 hours. A payment that has shown "in progress" for several days is therefore the exception, and your bank can ask the holding bank what it needs to release it.
Check the vendor's end before you escalate
A fair number of "missing" payments have arrived. They sit uncredited because the beneficiary name on the instruction does not quite match the account, or because the vendor's bank has not matched the inbound funds to an invoice. A 2024 UK Financial Ombudsman decision (DRN-4456918) concerned a personal payment sent through a UK bank: the sending bank could show the funds credited at the receiving bank on the day they were sent, while the recipient was told for days by their own bank that nothing had arrived. The lesson for a business is the same: get both banks' versions before assuming the money is lost.
So, while your bank is tracing, ask the vendor to ask their bank whether an inbound USD payment of that amount has been received and is awaiting credit, and give them the UETR and the payment date. If the money has landed short rather than not at all, that is a different problem, and why your Indian vendor received less than you sent covers it. If the beneficiary details are the issue, our checklist before the first payment covers how to verify them.
Investigations and recalls
If the tracker shows a hold with no movement and the holding bank is not responding, ask your bank to open a formal investigation and give you a case reference. This has to go through your bank: the other banks in the chain act on instructions from the bank that sent the payment, not from you or your vendor.
A recall is a different tool. Swift's stop and recall service lets banks stop a payment that is still in flight and notifies the other banks in the chain through the tracker. Once the money has been credited to the vendor's account, though, it is the vendor's money, and getting it back needs the vendor's agreement. A recall is worth asking for quickly if you sent the wrong amount or paid the wrong account. It is the wrong tool for a payment that is merely slow.
Write everything down as you go: the date you paid, the UETR, who you spoke to, what the tracker showed and when, and any case reference. If the payment does come back short, that record is what you will need when you and the vendor decide who covers the difference.
Where Winvesta fits
The reason this post exists is that a SWIFT payment to India passes through banks you do not deal with and cannot see. Winvesta removes that chain. You send one USD transfer to us from your business account, with the invoices attached and no sender fee, and we split it across your Indian vendors with no SWIFT routing and no correspondent bank cuts. Every vendor sees the full invoice amount before it lands, INR reaches their bank in 1 to 2 days, and they receive e-FIRA and remittance advice for their records. KYC is done once.
What it does not do: it is not a UK bank account, it cannot trace a payment you have already sent through your bank, and it does not give tax advice. We are live on USD to INR today. If you would rather never trace a payment again, tell us where you bank and we will set you up.
Frequently asked questions
What is a UETR and where do I find it?
A UETR is the 36-character Unique End-to-end Transaction Reference that Swift requires on every MT103 payment instruction. It sits in field 121 of the MT103 and stays the same at every bank in the chain. Your bank issued it when it sent your payment, so ask your bank for it; it is often not shown on the standard confirmation.
Can I track an international payment myself?
The Swift GPI Tracker is a bank-to-bank tool, so in most cases your bank reads it on your behalf. Some business banking platforms now show the tracker status for outgoing international payments directly, so check yours before you call.
How long should I wait before chasing a payment to India?
A bank wire to India typically takes 2 to 5 business days. If your bank's platform still shows the payment in progress after that, ask for the tracker status and the name of the bank holding it. Ask the vendor to check with their bank at the same time.
Can I cancel or recall a payment to India?
While the payment is still in flight, your bank can send a stop and recall request through Swift. Once the money has been credited to the vendor's account, a return needs the vendor's agreement. Banks may charge for a recall, so check your tariff.
If the payment is returned, who pays the charges?
A returned payment usually comes back less any charges taken by the banks in the chain, and the invoice is still unpaid. The charge option on the original payment (OUR, SHA or BEN) decides who bears deductions on the way out, but who covers the cost of a return is something to agree with the vendor.
Does Winvesta use SWIFT to pay my vendors?
No. You send one USD transfer to Winvesta from your business account and we split it across your Indian vendors without SWIFT routing or correspondent banks. INR lands in the vendor's bank in 1 to 2 days and the vendor receives e-FIRA and remittance advice.
