Keep the report’s context
A code is most useful with the reporting institution, timestamp and any additional reason. “Settled” may concern one leg, while creditor-account settlement is a different report. “On hold” can describe more than one underlying state.
This decoder preserves that ambiguity instead of guessing where funds are. It does not connect to a bank or search a transaction.
When the code is not enough
For a rejected instruction, ask the bank for the reason and what happens to any debit. A rejection does not itself establish a completed refund. For a pending payment, ask what information or processing step is outstanding.
The full SWIFT status-code guide includes G sub-codes and rejection reasons. If the recipient has no credit, use the missing-transfer guide for a focused enquiry.