International payments are governed by diverse rules, regulations, and unique procedures across the tens of thousands of banks involved in global transactions. These variations often lead to the most common reasons for payment rejections.
1. Transaction Invoice Detail Not Sufficient
Why it happens:
A vague or incomplete description can prevent your wire from being sent.
How to fix it:
In the invoice detail. provide a specific reason for the transaction. For example:
Too vague: "Invoice"
Acceptable: "Invoice 123 - clothing for inventory"
2. Invalid Account Number
Why it happens:
The account number entered is incorrect or incomplete.
How to fix it:
Double-check the recipient's account number for typos, missing digits, or formatting errors. Correct and resubmit the wire.
3. Invalid Wire Instructions
Why it happens:
Incorrect details were provided, often due to mismatched wire types or SWIFT codes.
How to fix it:
Confirm the SWIFT code and branch ID is correct and proceed with an international wire.
Ensure you’re using the right instructions for the recipient's bank type.
4. Invalid Beneficiary Address
Why it happens:
The beneficiary's address is invalid. This may occur if the address is:
A P.O. box
The receiving bank’s address
Written in non-Roman characters
How to fix it:
Provide a complete street address (not a P.O. box or bank address) in Roman characters, then retry the wire.
5. Invalid Beneficiary Name and/or Account
Why it happens:
The account number does not match the beneficiary's name.
How to fix it:
Double-check the account number and ensure it corresponds to the legal name of the receiving account holder.
6. Name Mismatch
Why it happens:
The beneficiary name entered does not exactly match the name on the receiving account.
How to fix it:
Confirm the recipient’s legal name on their account and correct it in your wire details before resending.
Pro Tip:
Always double-check all details before submitting your wire to ensure accuracy and prevent delays.