Haven't received a payment - Here's what to do
If a payment hasn’t appeared in your Banking Circle account - Here are a few simple steps to help resolve it:
1. Check Your Account Report
Check your reporting from the expected date to the current date. Payments may have been credited to your account on or after the expected value date. This can occur if the payment is reviewed by other banks within the payment cycle or if reviewed by Banking Circle compliance. How to locate funds · Banking Circle Help Centre
2. Check Held payments reporting available via API and UI
Please review Held Payments – Sanctions Screening Report - The report shows all incoming payments on hold - If held please note an RFI request may have been sent to the remitter and we are pending their response
Inform the remitter to check with their bank for RFI requests, and answer this as soon as possible.
3. Confirm with Sender’s Bank
Ask the sender to double-check that the payment was processed and released correctly on their end
Request the MT103 and Review Payment Details
- Check account number details for accuracy
- Check Value date of payment
4. Check for returns with sender bank
Payments will be automatically returned due to following reasons: Account closed, Received from a country outside of operations, regulation. We suggest:
- Ensure funds are expected from a country accepted on your account
- Sender to check with their bank to confirm whether the payment has been returned.
- Ensure funds are sent to the correct account number
5. Still Missing?
If all the details are correct and the above checks are completed the sender’s bank will need to start a payment trace
Please Note:
Banking Circle can only investigate payments that have reached us. If the funds haven’t arrived, the sender’s bank must handle the investigation.