MT420 — Tracer (Collection)
The tracer: chase-up sent by the remitting bank to the presenting bank when a collection has not progressed within the standard delay. The Cat 4 message that triggers a status request under URC 522 ICC.
Purpose
MT420 is the official chase-up sent by the remitting bank when no news has been received about a collection's fate. URC 522 art. 4 explicitly provides the right for the remitting bank to trace. In practice, after 30 days without a reply (indicative delay), the remitting bank sends MT420 to force the presenting bank to answer in MT422 (advice of fate) or MT499.
The commercial stakes are real: a collection with no news creates an accounting suspense on the exporter side, hurts cash flow and potentially flags a dispute with the importer. The tracer formalises the request: failure to reply to an MT420 within a reasonable delay entitles the remitting bank to demand documents back or escalate.
Tag structure
Very short flat message — typically 4 to 6 tags. Carries the original collection
reference and formulates the request in :72:.
Mandatory tags
| Tag | Name | Usage |
|---|---|---|
:20: | Sender's Reference | Unique tracer reference on the remitting-bank side. |
:21: | Related Reference | Original collection reference (= MT420/MT421 reference). |
:32A: | Amount of Collection | Initial date + ISO 4217 + collection amount (echo from MT420/MT421). |
:59: | Drawee | Drawee importer's name and address — reminder for fast identification on the collecting bank side. |
:72: | Sender to Receiver Information | Free text expressing the request: COLLECTION SENT, NO RESPONSE TO DATE, PLEASE ADVISE STATUS. |
Real-world example
Tracer sent by BNP Paribas to ICBC Beijing on 15 June 2026 to chase the ACME-COL-2026-187 collection of USD 145,000, sent on 16 May 2026 and unanswered since (30 days):
{1:F01BNPAFRPPAXXX0000000000}{2:I420ICBKCNBJXXXXN}{3:{108:TR20260615001}}{4:
:20:TR20260615001
:21:ACME-COL-2026-187
:32A:260516USD145000,00
:59:GUANGZHOU TEXTILE EXPORTS CO LTD
123 BAIYUN ROAD
510000 GUANGZHOU, CHINA
:72:/REC/COLLECTION SENT 16 MAY 2026, NO
/REC/RESPONSE TO DATE. PLEASE ADVISE
/REC/STATUS AND EXPECTED PAYMENT DATE.
-}:20:TR20260615001— BNP's tracer reference.:21:ACME-COL-2026-187— original collection reference.:32A:260516USD145000,00— amount and original date.:59:GUANGZHOU TEXTILE EXPORTS CO LTD ...— drawee reminder.:72:/REC/COLLECTION SENT 16 MAY 2026, NO RESPONSE...— status request.
Common pitfalls
- Early tracer — sending an MT420 too early (before the typical 30 days) is frowned upon by the presenting bank and costs SWIFT charges. Respect the conventional delay set in the standing instructions between the two banks.
- Tracer without
:21:— without the upstream reference, the presenting bank cannot identify the collection. Causes an unhelpful MT422 «COLLECTION NOT IDENTIFIED». - Cascade tracers — sending an MT420 then another 7 days later, then a third, does not accelerate processing and burdens SWIFT costs. Prefer a single tracer then an escalating MT499.
- Tracer on a non-due D/A collection — for a Documents Against Acceptance collection, payment only occurs at draft maturity. No tracer before that maturity; the draft remains legally valid even without intermediate news.
- Tracer / amendment confusion — an MT420 asks a question, it does not modify the collection. To modify instructions (e.g. accept a late discount, change the credit account), use MT430 (Amendment).
ISO 20022 equivalent
No ISO 20022 equivalent. The collection domain stays in SWIFT FIN.
Related messages
- MT400 — Advice of Payment (positive reply: payment received).
- MT410 — Acknowledgement (initial neutral ack before tracer).
- MT422 — Advice of Fate and Request for Instructions (typical reply: non-payment, refusal).
- MT430 — Amendment of Instructions (collection modification).
- MT499 — Free Format Message Cat 4 (free escalation).