What Happens When a Transfer Fails—and How Towb Fixes It Fast

In the world of cross-border payments, it’s not enough for money to just arrive—it must arrive quickly, accurately, and without errors. But sometimes, transfers fail. It happens, but the real difference lies in how failures are handled.

This is where Towb excels.

 Why Do Money Transfers Fail?

• Incomplete or Incorrect Information

Common issues include:

• Wrong account number
• Mismatched beneficiary name
• Missing reference numbers

• Code Compatibility Issues

Payment systems may fail to read non-Latin or unsupported characters, leading to processing failures.
 

• Delays Due to Compliance or Security Checks

Transfers can get flagged due to suspected money laundering or regulatory concerns.
 

• Missing Unique Tracking Reference (UETR)

Without a UETR, tracking a payment becomes manual, slow, and inaccurate.
 

• Lack of Transparent Data

Unclear details about currency, amounts, or fees can stall processing or cause disputes with the recipient.

The Hidden Cost of Failed Transfers

• Delayed invoice payments
• Supply chain disruptions
• Eroded trust with partners
• Increased operational costs

 How Towb Fixes Issues Quickly and Efficiently

1. ISO 20022 Standard

• A global standard for unified data formatting

• Ensures clear, compatible payment instructions
   

2. Unique End-to-End Tracking (UETR)

• Each transfer has a unique identifier

• Enables step-by-step tracking of the transaction
   

3. Real-Time Monitoring and Instant Alerts

• Immediate notifications of any issues

• Faster user and support team response
   

4. Automated Compliance Checks

• Inbuilt pre-transfer checks

• Minimizes regulatory rejections or holds
   

5. Transparent, Organized Data

• Includes amount, currency, fees, and all details

• Reduces disputes and ensures recipient clarity
   

6. Alternative Payment Channels

• Ability to reroute to local banks or wallets (e.g., M-PESA) if the primary channel fails

Towb’s Step-by-Step Resolution Process

1. immediate Failure Detection
   Using UETR and live monitoring.

2. Precise Cause Analysis
   Data error? Compliance issue? Towb identifies the cause within seconds.

3. Clear User Notification
   With actionable guidance to correct the issue.

4. Retry or Alternative Routing
   Towb completes the transfer using the fastest available route.

5. Human Support When Needed
   The support team is ready to handle complex cases personally.

Benefits of Towb’s Smart Approach

• Reduced Delays:
  Resolution in minutes, not days.

• Lower Costs:
  Less reliance on manual interventions.

• Complete Transparency:
  All parties have real-time visibility on payment status.

• Trust Reinforcement:
  High reliability strengthens client and partner relationships

Conclusion

Transfers can fail—this is a reality in payments. But when they do, the difference between an ordinary platform and Towb is whether you spend days waiting or minutes resolving.

Towb doesn’t just prevent failures; it handles them efficiently, restoring trust quickly and keeping your business moving.