GLOBAL PAYMENTS KNOWLEDGEISO 20022 / SWIFT / SEPA / MT / MX
PAYMENTSSIGNAL

The interactive academy for the standards, messages, and rails that move money.

PROGRESS
BREAK IT · SWIFT COVER PAYMENT (MT103 + MT202 COV)

What happens when this goes wrong?

Every other page shows this payment working. Here you choose what breaks, and follow the damage — because a hold, a return or a missed cut-off is the system working as designed, and reading one calmly is the job.

CHOOSE WHAT GOES WRONG

Pick a failure above. Nothing here is invented — each one is a reason code this rail really uses, at the step where it really strikes.

EVERY FAILURE ON THIS RAIL

  • NOCOVERStep 4: The cover transfer goes to the correspondent — The cover never arrives or does not match the MT103
  • RECALLStep 8: The beneficiary is credited — The customer asks Bank Alfa to recover the credited cover payment

One correspondent carries the cover. Real flows may involve correspondents on both sides, FX, and charge deductions along the chain. Every failure here is authored on SWIFT cover payment (MT103 + MT202 COV), with the sources that back it.