AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Ask the client for their bank's SWIFT payment confirmation (often called an MT103) showing the UETR, the value date, the amount, and your account details exactly as sent; a screenshot of an app screen is not enough. With the UETR your own bank can locate the payment in the SWIFT chain; if the details are wrong or the payment is stuck, the client's bank must trace or recall it, and in Nigeria the client can escalate an unresolved complaint to the CBN.
First, separate the three possibilities
When a client says "we have paid" and nothing shows on your side, one of three things is usually true: the payment has not actually left their bank yet (it is awaiting approval, a compliance check or the next cut-off), it has left and is sitting with a correspondent or your bank, or it was never sent at all. Each needs a different response, and the document the client sends you tells you which one you are dealing with.
- An internal approval screen or a transfer "request" means it may not have left. Many Nigerian corporate accounts need two signatories, and an international transfer from a domiciliary account can also wait for the bank's own review.
- A bank-issued SWIFT confirmation with a reference means it has left the client's bank, and it can be traced.
- Only a screenshot or a PDF the client made proves nothing either way. Ask politely for the bank's own document.
What to ask the client for
Send one clear message listing exactly what you need. Ask the client to request it from their bank's international operations or trade desk if they cannot download it themselves.
- The SWIFT payment confirmation (MT103 or its ISO 20022 equivalent), on bank letterhead or as generated by the bank.
- The UETR, the unique end-to-end transaction reference. Swift says it is 36 characters long, is required on customer payments such as the MT103, must be passed on by every intermediary, and lets any party in the chain locate the payment.
- The value date and amount, and the currency debited.
- Your details as typed: your name, account number or IBAN, SWIFT/BIC and bank name. Most delays come from a wrong digit or a name that does not match.
- The charge code (OUR, SHA or BEN) and any intermediary bank named.
If the confirmation already exists, it is quick for the bank to produce. A client who cannot get one after several days usually means the payment has not gone.
How the trace works on your side
Give the UETR to your own bank or payment provider and ask them to check for the incoming payment. Lloyds, for example, says it needs the UETR to trace a payment from abroad and that timing for payments from outside the EEA depends on the sender. With the reference, your bank can see whether the funds reached it, are held for checks, or were returned.
Most SWIFT payments are quick once they leave. Swift reported in October 2020 that 92% of its gpi cross-border payments were credited within 24 hours. The remainder is where your payment sits: payments that need compliance checks, cross several correspondents, or carry mismatched details can take days. How the reference works in more detail is covered in tracing a SWIFT transfer with a UETR, and what an MT103 shows is in MT103 as proof of payment.
If your details were wrong
Only the sending bank can amend or recall a payment it sent. You cannot fix it from your side. Ask the client to instruct their bank to send an amendment or a recall request through SWIFT, and expect the returned amount to be lower if it was converted or charged on the way.
When the client's bank is slow
The client is the bank's customer, so the complaint has to come from them. The CBN's guide on lodging complaints says a customer should complain to the institution first, that the institution should acknowledge and give a tracking number within three days, and that the customer should allow two weeks for resolution before escalating to the CBN's Consumer Protection Department. Ask the client for their complaint reference so you both know where it stands.
Worked timeline (example)
- Day 0
- Client says it is paid. You ask for the bank's SWIFT confirmation and UETR.
- Day 2
- Confirmation arrives. You pass the UETR to your bank.
- Day 3
- Your bank reports the funds are held at a correspondent for checks. You tell the client, who asks their bank to answer the query.
- Day 6
- Funds released and credited. You check the amount against the invoice for charges.
This is an illustration, not a typical case: some payments arrive the same day, others take longer.
Where Pryme fits
A Pryme Business Account holds NGN, USD, GBP and EUR with local account details for each, so a Nigerian client can sometimes pay in naira to your naira details instead of sending an international wire; outside Nigeria, foreign-currency services are provided through regulated partners. Any customer can generate a verifiable statement or receipt through Pryme's partnership with VerifyDoc.ai, which a client can check is genuine and unaltered (receipts and statements). See also the business multicurrency account.
Steps
- Ask for the bank's SWIFT confirmation and UETR, not a screenshot.
- Check your details on it, character by character.
- Give the UETR to your bank and ask for a trace.
- If details were wrong, ask the client to request an amendment or recall from their bank.
- If the bank does not answer, the client complains in writing and, after two weeks, can escalate to the CBN.
- Keep invoicing on schedule; for persistent non-payment see chasing a late-paying Nigerian client.
Questions people ask
What is an MT103 and why do I need it?
It is the bank's SWIFT payment message for a customer transfer. It shows the amount, date, your details as sent and the reference needed to trace the payment, so it is far better evidence than an app screenshot.
My client sent a screenshot of the transfer. Is that enough?
No. A screenshot can show a payment that was never approved or released. Ask for the bank-issued confirmation with the UETR.
Can my bank trace a payment from Nigeria without the UETR?
It is much harder. With the 36-character UETR any bank in the chain can locate the payment, so ask the client for it first.
Who complains if the Nigerian bank is not responding?
The client, because they are the bank's customer. Under the CBN guide they complain to the bank first and can escalate to the CBN's Consumer Protection Department if it is not resolved in two weeks.
Sources
- Swift: What is a UETR? · accessed Oct 2026
- Swift: Swift gpi driving payments revolution (7 Oct 2020) · accessed Oct 2026
- Lloyds Bank: Receive money from outside the UK · accessed Oct 2026
- CBN: How to Lodge a Complaint (CPD/GEN/GUIDE/03, 24 Jan 2022) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.