Message Reference Guide MT 103 Single Customer Credit Transfer This document describes a MT message exported from the MyStandards web platform. You can also consult this informa- tion online. Published by SWIFT and generated by MyStandards. Standards MT November 2013 2 Message Reference Guide - MT 103 Single Customer Credit Transfer Table of Contents .Message Types ............................................................................................................................................................... 3 .MT 103 Single Customer Credit Transfer ........................................................................................................... 4 .MT 103 Scope ......................................................................................................................................................... 4 .MT 103 Format Specifications .............................................................................................................................. 5 .MT 103 Network Validated Rules ........................................................................................................................ 6 .MT 103 Usage Rules ............................................................................................................................................. 8 .Usage Rules for Amount Related Fields ................................................................................................. 9 .Examples: Transaction A ........................................................................................................................... 9 .Examples: Transaction B ......................................................................................................................... 11 .MT 103 Guidelines ................................................................................................................................................ 13 .MT 103 Field Specifications ................................................................................................................................ 13 .1. Field 20: Sender's Reference ............................................................................................................. 13 .2. Field 13C: Time Indication .................................................................................................................. 14 .3. Field 23B: Bank Operation Code ....................................................................................................... 15 .4. Field 23E: Instruction Code ................................................................................................................ 16 .5. Field 26T: Transaction Type Code .................................................................................................... 18 .6. Field 32A: Value Date/Currency/Interbank Settled Amount ........................................................... 18 .7. Field 33B: Currency/Instructed Amount ............................................................................................ 19 .8. Field 36: Exchange Rate ..................................................................................................................... 19 .9. Field 50a: Ordering Customer ............................................................................................................ 20 .10. Field 51A: Sending Institution .......................................................................................................... 23 .11. Field 52a: Ordering Institution .......................................................................................................... 24 .12. Field 53a: Sender's Correspondent ................................................................................................. 26 .13. Field 54a: Receiver's Correspondent .............................................................................................. 27 .14. Field 55a: Third Reimbursement Institution ................................................................................... 28 .15. Field 56a: Intermediary Institution .................................................................................................... 28 .16. Field 57a: Account With Institution .................................................................................................. 30 .17. Field 59a: Beneficiary Customer ...................................................................................................... 33 .18. Field 70: Remittance Information ..................................................................................................... 33 .19. Field 71A: Details of Charges .......................................................................................................... 34 .20. Field 71F: Sender's Charges ............................................................................................................ 35 .21. Field 71G: Receiver's Charges ........................................................................................................ 36 .22. Field 72: Sender to Receiver Information ....................................................................................... 36 .23. Field 77B: Regulatory Reporting ...................................................................................................... 37 .MT 103 Examples ................................................................................................................................................. 38 .MT 103 Examples for the Core MT 103, used outside any Service Level Agreements ................. 38 .MT 103 Example for the core MT 103, used in a Service Level Agreement ................................... 73 .MT 103 Example for the Extended Remittance Information MUG .................................................... 78 .Legal Notices ................................................................................................................................................................. 82 Message Types 3 Message Types The following table lists all message types defined in this book. For each message type, there is a short description, an indicator whether the message type requires authentication (Y/N), the maximum message length on input (2,000 or 10,000 characters), whether the use of the message requires registration with SWIFT for use in a message user group (Y) or not (N) and whether value date ordering (VDO) can be requested for the message (Y/N). Value date ordering criteria are described in the Standards MT General Information. MT MT Name Purpose Authen. Max. Length MUG VDO 103 Single Customer Credit Transfer Instructs a funds transfer Y 10000 N Y Standards MT November 2013 4 Message Reference Guide - MT 103 Single Customer Credit Transfer MT 103 Single Customer Credit Transfer The MT 103 message can be exchanged in three different ways, depending on the business scenario in which the message is used. 1. The core MT 103 is a General Use message, that is, no registration in a Message User Group (MUG) is necessary to send and receive this message. It allows the exchange of single customer credit transfers using all MT 103 fields, except field 77T (Envelope Contents). The MT 103 can be straight through processable if the message is properly formatted according to pre-agreed bilater- al/multilateral rules. 2. The MT 103 + is a General Use message, that is, no registration in a Message User Group is nec- essary to send and receive this message. It allows the exchange of single customer credit trans- fers using a network validated restricted set of fields and format options of the MT 103 to make it straight through processable. The MT 103 + is a compatible subset of the core MT 103 and is doc- umented separately after the MT103. 3. The MT 103 Extended Remittance Information MUG allows its subscribers to exchange MT 103 messages with field 77T containing an extended amount of remittance information. This remittance information may optionally be exchanged in a non-SWIFT format, such as EDIFACT or ANSI-X12. Senders and Receivers who wish to use the MT 103 for the exchange of extended remittance data (up to 9,000 characters) will have to register for the Extended Remittance Information MUG. All three ways of exchanging the MT103 message are available for worldwide use. To allow European financial institutions to respect European regulations, additional network validation has been introduced when the country codes of the Sender's and the Receiver's BICs are within the following list: AD, AT, BE, BG, BV, CH, CY, CZ, DE, DK, ES, EE, FI, FR, GB, GF, GI, GP, GR, HU, IE, IS, IT, LI, LT, LU, LV, MC, MQ, MT, NL, NO, PL, PM, PT, RE, RO, SE, SI, SJ, SK, SM, TF and VA. Additional network validation for Europe: In the MT 103: 1. A mandatory presence of field 33B Currency/Instructed Amount. In the MT 103+: 1. A mandatory presence of field 33B Currency/Instructed Amount. 2. A mandatory IBAN account number in subfield 1 (Account) of field 59a Beneficiary Customer when the Sender's and Receiver's BIC (and the financial institution BIC in field 57A if present) are within that same list of country codes above. When not subject to this additional network validation, a valid account number in the proper format can be STP. MT 103 Scope This message type is sent by or on behalf of the financial institution of the ordering customer, directly or through (a) correspondent(s), to the financial institution of the beneficiary customer. It is used to convey a funds transfer instruction in which the ordering customer or the beneficiary cus- tomer, or both, are non-financial institutions from the perspective of the Sender. This message may only be used for clean payment instructions. It must not be used to advise the remit- ting bank of a payment for a clean, for example, cheque, collection, nor to provide the cover for a trans- action whose completion was advised separately, for example, via an MT 400. MT 103 Single Customer Credit Transfer 5 MT 103 Format Specifications MT 103 Single Customer Credit Transfer Status Tag Field Name Content/Options No. M 20 Sender's Reference 16x 1 ----> O 13C Time Indication /8c/4!n1!x4!n 2 ----| M 23B Bank Operation Code 4!c 3 ----> O 23E Instruction Code 4!c[/30x] 4 ----| O 26T Transaction Type Code 3!c 5 M 32A Value Date/Currency/Interbank Settled Amount 6!n3!a15d 6 O 33B Currency/Instructed Amount 3!a15d 7 O 36 Exchange Rate 12d 8 M 50a Ordering Customer A, F, K 9 O 51A Sending Institution [/1!a][/34x] 4!a2!a2!c[3!c] 10 O 52a Ordering Institution A, D 11 O 53a Sender's Correspondent A, B, D 12 O 54a Receiver's Correspondent A, B, D 13 O 55a Third Reimbursement Institution A, B, D 14 O 56a Intermediary Institution A, C, D 15 O 57a Account With Institution A, B, C, D 16 M 59a Beneficiary Customer No letter option, A 17 O 70 Remittance Information 4*35x 18 M 71A Details of Charges 3!a 19 ----> O 71F Sender's Charges 3!a15d 20 ----| O 71G Receiver's Charges 3!a15d 21 O 72 Sender to Receiver Information 6*35x 22 O 77B Regulatory Reporting 3*35x 23 M = Mandatory, O = Optional Standards MT November 2013 6 Message Reference Guide - MT 103 Single Customer Credit Transfer MT 103 Network Validated Rules C1 If field 33B is present and the currency code is different from the currency code in field 32A, field 36 must be present, otherwise field 36 is not allowed (Error code(s): D75). If field 33B is ... And currency code in field 33B is ... Then field 36 is ... Not equal to currency code in field 32A Mandatory Present Equal to currency code in field 32A Not allowed Not present NA Not allowed C2 If the country codes of the Sender's and the Receiver's BICs are within the following list: AD, AT, BE, BG, BV, CH, CY, CZ, DE, DK, ES, EE, FI, FR, GB, GF, GI, GP, GR, HU, IE, IS, IT, LI, LT, LU, LV, MC, MQ, MT, NL, NO, PL, PM, PT, RE, RO, SE, SI, SJ, SK, SM, TF and VA, then field 33B is mandatory, otherwise field 33B is optional (Error code(s): D49). If country code of Sender's BIC equals one of the listed country codes And country code of Receiver's BIC equals one of the listed country codes Then field 33B is ... Yes Yes Mandatory Yes No Optional No Yes Optional No No Optional Note See also Network Validated Rule C15 (Error code(s): D51). C3 If field 23B contains the code SPRI, field 23E may contain only the codes SDVA, TELB, PHOB, INTC (Error code(s): E01). If field 23B contains one of the codes SSTD or SPAY, field 23E must not be used (Error code(s): E02). If field 23B is ... Then field 23E is ... SPRI Optional. It can contain only SDVA, TELB, PHOB or INTC SSTD Not allowed SPAY Not allowed Not equal to SPRI, SSTD and SPAY Optional C4 If field 23B contains one of the codes SPRI, SSTD or SPAY, field 53a must not be used with option D (Error code(s): E03). If field 23B is ... Then field 53a ... SPRI, SSTD or SPAY Must not be used with option D C5 If field 23B contains one of the codes SPRI, SSTD or SPAY and field 53a is present with option B, Party Identifier must be present in field 53B (Error code(s): E04). MT 103 Single Customer Credit Transfer 7 C6 If field 23B contains one of the codes SPRI, SSTD or SPAY, field 54a may be used with option A only (Error code(s): E05). If field 23B is ... Then field 54a ... SPRI, SSTD or SPAY May be used with option A only C7 If field 55a is present, then both fields 53a and 54a must also be present (Error code(s): E06). If field 55a is ... Then field 53a is ... And field 54a is ... Present Mandatory Mandatory Not present Optional Optional C8 If field 23B contains one of the codes SPRI, SSTD or SPAY, field 55a may be used with option A only (Error code(s): E07). If field 23B is ... Then field 55a ... SPRI, SSTD or SPAY May be used with option A only C9 If field 56a is present, field 57a must also be present (Error code(s): C81). If field 56a is ... Then field 57a is ... Present Mandatory Not present Optional C10 If field 23B contains the code SPRI, field 56a must not be present (Error code(s): E16). If field 23B contains one of the codes SSTD or SPAY, field 56a may be used with either option A or option C. If option C is used, it must contain a clearing code (Error code(s): E17). If field 23B is ... Then field 56a is ... SPRI Not allowed SSTD or SPAY Allowed with option A or C only (if option C: clear- ing code must be used) C11 If field 23B contains one of the codes SPRI, SSTD or SPAY, field 57a may be used with op- tion A, option C or option D. Subfield 1 (Party Identifier) in option D must be present (Error code(s): E09). If field 23B is ... Then field 57a is ... SPRI, SSTD or SPAY Allowed only with options A, C or D (In option D: Party Identifier is mandatory) C12 If field 23B contains one of the codes SPRI, SSTD or SPAY, subfield 1 (Account) in field 59a Beneficiary Customer is mandatory (Error code(s): E10). C13 If any field 23E contains the code CHQB, subfield 1 (Account) in field 59a Beneficiary Customer is not allowed (Error code(s): E18). Standards MT November 2013 8 Message Reference Guide - MT 103 Single Customer Credit Transfer C14 If field 71A contains OUR, then field 71F is not allowed and field 71G is optional (Error code(s): E13). If field 71A is ... Then field 71F is ... And field 71G is ... OUR Not allowed Optional If field 71A contains SHA, then field(s) 71F is(are) optional and field 71G is not allowed (Error code(s): D50). If field 71A is ... Then field(s) 71F is(are) ... And field 71G is ... SHA Optional Not allowed If field 71A contains BEN, then at least one occurrence of field 71F is mandatory and field 71G is not allowed (Error code(s): E15). If field 71A is ... Then field 71F is ... And field 71G is ... BEN Mandatory (at least one occur- rence) Not allowed C15 If either field 71F (at least one occurrence) or field 71G is present, then field 33B is mandatory, otherwise field 33B is optional (Error code(s): D51). Note 1: The presence of both fields 71F and 71G is also regulated by the network validated rule C15 (Error code(s): E13, D50, E15). Note 2: The presence of field 33B is also regulated by the Network Validated Rule C2 (Error code(s): D49). C16 If field 56a is not present, no field 23E may contain TELI or PHOI (Error code(s): E44). If field 56a is ... Then no occurrence of field 23E subfield 1 may contain ... Not present TELI or PHOI C17 If field 57a is not present, no field 23E may contain TELE or PHON (Error code(s): E45). If field 57a is ... Then no occurrence of field 23E subfield 1 may contain ... Not present TELE or PHON C18 The currency code in the fields 71G and 32A must be the same (Error code(s): C02). MT 103 Usage Rules When the cover method is used for a customer credit transfer, the originating bank must copy the content of field 20 of the MT 103 unchanged into field 21 of the related MT 202 COV. Field 77T can only be used if both Sender and Receiver of the message have subscribed to the Ex- tended Remittance Information MUG. Both the Sender and the Receiver must have agreed to the ex- change of MT 103 messages using field 77T. If the field is used, the Sender must set the validation MT 103 Single Customer Credit Transfer 9 flag to REMIT in field 119 of the user header of the message. If field 77T is not present, the code of the validation flag must not be REMIT. Field 72 may only be present when it is structured, that is, only contains coded information. When sending the message via FileAct, institutions should bilaterally agree on the maximum size of the message. Usage Rules for Amount Related Fields There is a relationship between the amount related fields 33B, 36, 71G, 71F and 32A which may be log- ically expressed in the following formula: The instructed amount in field 33B, adjusted with the exchange rate in field 36, plus the Receiver's charges in field 71G, minus the Sender's charges in field(s) 71F, equals the interbank settled amount in field 32A. Presence of the fields mentioned above is subject to the conditional field rules C1, C2, C14 and C15. If a field is not present, that field must not be taken into account in the formula. If field 71F is present more than once, all occurrences of that field must be taken into account in the formula. Examples: Transaction A Pay the equivalent of EUR 1000,00 in GBP to a beneficiary in the United Kingdom Exchange rate is 1 EUR for 0,61999 GBP Transaction charges on the Sender's side are EUR 5,00 (=GBP 3,1) Transaction charges on the Receiver's side are GBP 4 (=EUR 6,45) Example A1: Charging option is OUR A. Amount debited from the ordering customer's account: Instructed Amount EUR 1000,00 + Sender's charges EUR 5,00 + Receiver's charges EUR 6,45 = Debit Amount EUR 1011,45 B. MT 103 extract: Field Tag Content 33B EUR 1000,00 71A OUR 71G GBP 4,00 36 0,61999 32A GBP 623,99 C. The subsequent MT 950 shows one debit entry for GBP 623,99, that is, field 32A. D. Amount credited to the beneficiary: Standards MT November 2013 10 Message Reference Guide - MT 103 Single Customer Credit Transfer Interbank settlement amount GBP 623,99 - Receiver's charges GBP 4,00 = Credit amount GBP 619,99 Example A2: Charging option is SHA A. Amount debited from the ordering customer's account: Instructed amount EUR 1000,00 + Sender's charges EUR 5,00 = Debit amount EUR 1005,00 B. MT 103 extract: Field Tag Content 33B EUR 1000,00 71A SHA 36 0,61999 32A GBP 619,99 C. The subsequent MT 950 shows one debit entry for GBP 619,99, that is, field 32A. D. Amount credited to the beneficiary: Interbank settlement amount GBP 619,99 - Receiver's charges GBP 4,00 = Credit amount GBP 615,99 Example A3: Charging option is BEN A. Amount debited from the ordering customer's account: Instructed amount = Debit amount EUR 1000,00 B. MT 103 extract: Field Tag Content 33B EUR 1000,00 71A BEN 71F GBP 3,1 36 0,61999 32A GBP 616,89 C. The subsequent MT 950 shows one debit entry for GBP 616,89, that is, field 32A. MT 103 Single Customer Credit Transfer 11 D. Amount credited to the beneficiary: Equivalent of Instructed amount GBP 619,99 - Sender's charges GBP 3,1 - Receiver's charges GBP 4,00 = Credit amount GBP 612,89 Note The beneficiary is also advised of the Sender's charges of GBP 3,1. Examples: Transaction B Pay GBP 1000,00 to a beneficiary in the United Kingdom Exchange rate is 1 EUR for 0,61999 GBP Transaction charges on the Sender's side are EUR 5,00 (=GBP 3,1) Transaction charges on the Receiver's side are GBP 4,00 (=EUR 6,45) The ordering customer has an account in euro Sender and Receiver's BIC are within the EU-country list Example B1: Charging option is OUR A. Amount debited from the ordering customer's account: Debit on EUR-account Equivalent of Instructed amount EUR 1612,93 + Sender's charges EUR 5,00 + Receiver's charges EUR 6,45 = Debit amount EUR 1624,38 B. MT 103 extract Field Tag Content 33B GBP 1000,00 71A OUR 71G GBP 4,00 32A GBP 1004,00 Note Field 36 does not have to be used since currency in fields 32A and 33B is the same. C. The subsequent MT 950 shows one debit entry for GBP 1004, that is, field 32A. D. Amount credited to the beneficiary: Instructed amount = Credit amount GBP 1000,00 Standards MT November 2013 12 Message Reference Guide - MT 103 Single Customer Credit Transfer Example B2: Charging option is SHA A. Amount debited from the ordering customer's account: Debit on EUR-account Equivalent of Instructed amount EUR 1612,93 + Sender's charges EUR 5,00 = Debit amount EUR 1617,93 B. MT 103 extract: Field Tag Content 33B GBP 1000,00 71A SHA 32A GBP 1000,00 C. The subsequent MT 950 shows one debit entry for GBP 1000, that is, field 32A. D. Amount credited to the beneficiary: Amount in 32A GBP 1000,00 - Receiver's charges GBP 4,00 = Credit amount GBP 996,00 Note Field 36 does not have to be used since currency in fields 32A and 33B is the same. Example B3: Charging option is BEN A. Amount debited from the ordering customer's account: Debit on EUR-account Equivalent of Instructed amount = Debit amount EUR 1612,93 B. MT 103 extract: Field Tag Content 33B GBP 1000,00 71A BEN 71F GBP 3,10 32A GBP 996,90 C. The subsequent MT 950 shows one debit entry for GBP 996,9 that is, field 32A. D. Amount credited to the beneficiary: Instructed amount GBP 1000,00 MT 103 Single Customer Credit Transfer 13 - Sender's charges GBP 3,10 - Receiver's charges GBP 4,00 = Credit amount GBP 992,90 Note The beneficiary is also advised of the Sender's charges of GBP 3,1. MT 103 Guidelines If the Sender and the Receiver wish to use their direct account relationship in the currency of the transfer, then the MT 103 message will contain the cover for the customer transfer as well as the payment details. If the Sender and the Receiver have no direct account relationship in the currency of the transfer or do not wish to use their account relationship, then third banks will be involved to cover the transac- tion. The MT 103 contains only the payment details and the Sender must cover the customer trans- fer by sending an MT 202 COV General Financial Institution Transfer to a third bank. This payment method is called 'cover'. Where more than two financial institutions are involved in the payment chain, and if the MT 103 is sent from one financial institution to the next financial institution in this chain, then the payment method is called 'serial'. If the Receiver does not service an account for the beneficiary customer, and no account servicing institution is indicated, nor any alternative instructions given, then the Receiver will act upon the cus- tomer credit transfer instruction in an appropriate manner of its choice. In order to allow better reconciliation by the beneficiary customer, the MT 103 supports full charges transparency and structured remittance information. In order to allow better reconciliation by the Receiver, the MT 103 gives an unambiguous indication of the interbank amount booked by the Sender/to be booked by the Receiver. The MT 103 gives the Sender the ability to identify in the message the level of service requested, that is, what service is expected from the Receiver for a particular payment, for example, SWIFTPay, Standard or Priority or any other bilaterally agreed service. The message also allows for the inclusion of regulatory information in countries where regulatory re- porting is requested. MT 103 Field Specifications 1. Field 20: Sender's Reference FORMAT 16x PRESENCE Mandatory Standards MT November 2013 14 Message Reference Guide - MT 103 Single Customer Credit Transfer DEFINITION This field specifies the reference assigned by the Sender to unambiguously identify the message. NETWORK VALIDATED RULES This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s): T26). USAGE RULES This reference must be quoted in any related confirmation or statement, for example, MT 900, 910 and/or 950. When the cover method is used for a customer credit transfer, this reference must be quoted un- changed in field 21 of the related MT 202 COV. EXAMPLES :20:Ref254 2. Field 13C: Time Indication FORMAT Option C /8c/4!n1!x4!n (Code)(Time indication)(Sign)(Time offset) PRESENCE Optional DEFINITION This repetitive field specifies one or several time indication(s) related to the processing of the payment instruction. CODES One of the following codes may be used in Code, placed between slashes ('/'): CLSTIME CLS Time The time by which the funding payment must be credited, with confir- mation, to the CLS Bank's account at the central bank, expressed in Central European Time (CET). RNCTIME Receive Time The time at which a TARGET payment has been credited at the re- ceiving central bank, expressed in Central European Time (CET). SNDTIME Send Time The time at which a TARGET payment has been debited at the send- ing central bank, expressed in Central European Time (CET). NETWORK VALIDATED RULES Time indication must be a valid time expressed as HHMM (Error code(s): T38). Sign is either "+" or "-" (Error code(s): T15). Time offset is expressed as 'HHMM', where the hour component, that is, 'HH', must be in the range of 00 through 13, and the minute component, that is, 'MM' must be in the range of 00 through 59. Any 'HH' or 'MM' component outside of these range checks will be disallowed (Error code(s): T16). MT 103 Single Customer Credit Transfer 15 USAGE RULES The time zone in which Time is expressed is to be identified by means of the offset against the UTC (Coordinated Universal Time - ISO 8601). EXAMPLES Assume a financial institution in London is sending a payment instruction on 5 January related to CLS in which it indicates that money has to be funded to CLS bank by 09.15 CET. Time indication field will be completed as follows: :13C:/CLSTIME/0915+0100 Explanation: 0915 is the time by which the money has to be funded to CLS bank. It has been agreed that CLSTIME is to be indicated in CET (see codes above). +0100 is the offset of CET against UTC in January (that is during winter time). If the same instruction had been sent on 10 June (that is during summer time), time indication field would have been completed as follows: :13C:/CLSTIME/0915+0200 Offsets of local time zones against UTC are published on www.swift.com in the BIC Directory, General Country Information. 3. Field 23B: Bank Operation Code FORMAT Option B 4!c (Type) PRESENCE Mandatory DEFINITION This field identifies the type of operation. CODES One of the following codes must be used (Error code(s): T36): CRED Normal credit transfer This message contains a credit transfer where there is no SWIFT Service Level involved. CRTS Test message This message contains a credit transfer for test purposes. SPAY SWIFTPay This message contains a credit transfer to be processed according to the SWIFTPay Service Level. SPRI Priority This message contains a credit transfer to be processed according to the Priority Service Level. SSTD Standard This message contains a credit transfer to be processed according to the Standard Service Level. USAGE RULES The code CRTS should not be used on the FIN network. Standards MT November 2013 16 Message Reference Guide - MT 103 Single Customer Credit Transfer EXAMPLES :23B:SPAY 4. Field 23E: Instruction Code FORMAT Option E 4!c[/30x] (Instruction Code)(Additional Information) PRESENCE Optional DEFINITION This field specifies an instruction. CODES Instruction Code must contain one of the following codes (Error code(s): T47): CHQB Cheque Pay beneficiary customer by cheque only. The optional account num- ber line in field 59 must not be used. CORT Corporate Trade Payment is made in settlement of a trade, for example, foreign ex- change deal, securities transaction. HOLD Hold Beneficiary customer/claimant will call; pay upon identification. INTC Intra-Company Pay- ment A payment between two companies belonging to the same group. PHOB Phone Beneficiary Please advise/contact beneficiary/claimant by phone. PHOI Phone Intermediary Please advise the intermediary institution by phone. PHON Telephone Please advise account with institution by phone. REPA Related Payment Payment has a related e-Payments reference. SDVA Same Day Value Payment must be executed with same day value to the beneficiary. TELB Telecommunication Please advise/contact beneficiary/claimant by the most efficient means of telecommunication. TELE Telecommunication Please advise the account with institution by the most efficient means of telecommunication. TELI Telecommunication Please advise the intermediary institution by the most efficient means of telecommunication. NETWORK VALIDATED RULES Additional Information is only allowed when Instruction Code consists of one of the following codes: PHON, PHOB, PHOI, TELE, TELB, TELI, HOLD or REPA (Error code(s): D97). If this field is repeated, the codes must appear in the following order (Error code(s): D98): SDVA INTC MT 103 Single Customer Credit Transfer 17 REPA CORT HOLD CHQB PHOB TELB PHON TELE PHOI TELI When this field is used more than once, the following combinations are not allowed (Error code(s): D67): SDVA with HOLD SDVA with CHQB INTC with HOLD INTC with CHQB REPA with HOLD REPA with CHQB REPA with CORT CORT with HOLD CORT with CHQB HOLD with CHQB PHOB with TELB PHON with TELE PHOI with TELI If this field is repeated, the same code word must not be present more than once (Error code(s): E46). USAGE RULES This field may be repeated to give several coded instructions to one or more parties. Code REPA indicates that the payment is the result of an initiation performed via an e-payments prod- uct between the customers. This code is intended for the beneficiary's bank who should act according to the specifications of the e-payments product. EXAMPLES :23E:CHQB :23E:TELI/3226553478 Standards MT November 2013 18 Message Reference Guide - MT 103 Single Customer Credit Transfer 5. Field 26T: Transaction Type Code FORMAT Option T 3!c (Type) PRESENCE Optional DEFINITION This field identifies the nature of, purpose of, and/or reason for the individual transaction, for example, salaries, pensions, dividends. USAGE RULES The information given is intended both for regulatory and statutory requirements and/or to provide infor- mation to the beneficiary customer on the nature of the transaction. Codes from the EUROSTAT list "Code List for Balance of Payments Collection Systems" may be used in this field. EXAMPLES :26T:K90 6. Field 32A: Value Date/Currency/Interbank Settled Amount FORMAT Option A 6!n3!a15d (Date)(Currency)(Amount) PRESENCE Mandatory DEFINITION This field specifies the value date, the currency and the settlement amount. The settlement amount is the amount to be booked/reconciled at interbank level. NETWORK VALIDATED RULES Date must be a valid date expressed as YYMMDD (Error code(s): T50). Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is in- cluded in the maximum length. The number of digits following the comma must not exceed the maxi- mum number allowed for the specified currency (Error code(s): C03, T40, T43). EXAMPLES :32A:981209USD1000,00 MT 103 Single Customer Credit Transfer 19 7. Field 33B: Currency/Instructed Amount FORMAT Option B 3!a15d (Currency)(Amount) PRESENCE Conditional (see rules C2, C15) DEFINITION This field specifies the currency and amount of the instruction. This amount is provided for information purposes and has to be transported unchanged through the transaction chain. NETWORK VALIDATED RULES Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is in- cluded in the maximum length. The number of digits following the comma must not exceed the maxi- mum number allowed for the specified currency (Error code(s): C03, T40, T43). USAGE RULES If field 33B is present in the message received, it has to be forwarded unchanged to the next party. This field must be present when a currency conversion or an exchange has been performed on the Sender's side. If the transaction is within the scope of the EC Directive on cross border credit transfers, this amount is the original ordered amount as instructed by the ordering customer. Otherwise, it is the amount that the sending bank was instructed to pay. As a consequence, if there are no Sender's or Receiver's charges and no currency conversion or ex- change took place, field 32A equals 33B, if present. EXAMPLES :33B:USD1000,00 8. Field 36: Exchange Rate FORMAT 12d (Rate) PRESENCE Optional DEFINITION This field specifies the exchange rate used to convert the instructed amount specified in field 33B. NETWORK VALIDATED RULES The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximum length (Error code(s): T40, T43). Standards MT November 2013 20 Message Reference Guide - MT 103 Single Customer Credit Transfer USAGE RULES This field must be present when a currency conversion or an exchange has been performed on the Sender's side. EXAMPLES :36:0,9236 9. Field 50a: Ordering Customer FORMAT Option A [/34x] 4!a2!a2!c[3!c] (Account) (Identifier Code) Option F 35x 4*35x (Party Identifier) (Name and Address) Option K [/34x] 4*35x (Account) (Name and Address) In option F, the following line formats must be used (Error code(s): T54): Line 1 (subfield Party Identifier) /34x (Account) Lines 2-5 (sub- field Name and Ad- dress) 1!n/33x (Number)(Details) Or Line 1 (subfield Party Identifier) 4!a/2!a/27x (Code)(Country Code)(Identifier) Lines 2-5 (sub- field Name and Ad- dress) 1!n/33x (Number)(Details) PRESENCE Mandatory DEFINITION This field specifies the customer ordering the transaction. CODES In option F, when Party Identifier is used with the (Code)(Country Code)(Identifier) format, one of the following codes must be used in Code (Error code(s): T55): ARNU Alien Registration Number The code followed by a slash, '/' must be followed by the ISO country code, a slash, '/' and the Alien Registration Number. CCPT Passport Number The code followed by a slash, '/' must be followed by the ISO country code, a slash, '/' and the Passport Number. CUST Customer Identifica- tion Number The code followed by a slash, '/' must be followed by the ISO country code of the issuer of the number, a slash, '/', the issuer of the num- ber, a slash, '/' and the Customer Identification Number. MT 103 Single Customer Credit Transfer 21 DRLC Driver's Licence Num- ber The code followed by a slash, '/' must be followed by the ISO coun- try code of the issuing authority, a slash, '/', the issuing authority, a slash, '/' and the Driver's Licence Number. EMPL Employer Number The code followed by a slash, '/' must be followed by the ISO country code of the registration authority, a slash, '/', the registration authority, a slash, '/' and the Employer Number. NIDN National Identity Num- ber The code followed by a slash, '/' must be followed by the ISO country code, a slash, '/' and the National Identity Number. SOSE Social Security Num- ber The code followed by a slash, '/' must be followed by the ISO country code, a slash, '/' and the Social Security Number. TXID Tax Identification Number The code followed by a slash, '/' must be followed by the ISO country code, a slash, '/' and the Tax Identification Number. CODES In option F, when Name and Address is present, Number must contain one of the following numbers (Error code(s): T56): 1 Name of the Ordering Customer The number followed by a slash, '/' must be followed by the name of the ordering customer (where it is recommended that the surname precedes given name(s)). 2 Address Line The number followed by a slash, '/' must be followed by an Address Line (Address Line can be used to provide for example, street name and number, or building name). 3 Country and Town The number followed by a slash, '/' must be followed by the ISO country code, a slash '/' and Town (Town can be complemented by postal code (for example zip), country subdivision (for example state, province, or county). 4 Date of Birth The number followed by a slash, '/' must be followed by the Date of Birth in the YYYYMMDD format. 5 Place of Birth The number followed by a slash, '/' must be followed by the ISO country code, a slash '/' and the Place of Birth. 6 Customer Identifica- tion Number The number followed by a slash, '/' must be followed by the ISO country code of the issuer of the number, a slash, '/', the issuer of the number, a slash, '/' and the Customer Identification Number. 7 National Identity Num- ber The number followed by a slash, '/' must be followed by the ISO country code, a slash, '/' and the National Identity Number. 8 Additional Information The number followed by a slash, '/' is followed by information com- pleting one of the following: the Identifier provided in subfield 1 (Party Identifier) used with the (Code)(Country Code)(Identifier) format. the Customer Identification Number provided in subfield 2 (Name and Address) with number 6. the National Identity Number provided in subfield 2 (Name and Ad- dress) with number 7. Standards MT November 2013 22 Message Reference Guide - MT 103 Single Customer Credit Transfer NETWORK VALIDATED RULES Identifier Code must be a registered BIC (Error code(s): T27, T28, T29, T45). In option F, subfield 1 (Party Identifier) used with the (Code)(Country Code)(Identifier) format: Country Code must be a valid ISO country code (Error code(s): T73). In option F, subfield 2 (Name and Address): The first line must start with number 1 (Error code(s): T56). Numbers must appear in numerical order (Error code(s): T56). Number 2 must not be used without number 3 (Error code(s): T56). Number 4 must not be used without number 5 and vice versa (Error code(s): T56). Number 4 must be followed by a valid date in the format YYYYMMDD and this date, local to the sender, must not be later than the date on which the message is successfully sent to SWIFT (Error code(s): T50). Numbers 3, 5, 6 and 7 must be followed by a valid ISO country code (Error code(s): T73), a slash '/' and additional Details (Error code(s): T56). Numbers 3, 4, 5, 6, 7 and 8 must not be repeated (Error code(s): T56). The use of number 8 is only allowed in the following instances (Error code(s): T56): to continue information on the Identifier of the ordering customer provided in subfield 1 (Party Identifier) used with the (Code)(Country Code)(Identifier) format. to continue information on the Customer Identification Number provided in subfield 2 (Name and Address) following number 6. to continue information on the National Identity Number provided in subfield 2 (Name and Ad- dress) following number 7. USAGE RULES If the account number of the ordering customer is present, it must be stated in Account. In option F, subfield 2 (Name and Address): Numbers 1 and 2 may be repeated. In option F, subfield 1 (Party Identifier) used with the (Code)(Country Code)(Identifier) format: if addi- tional space is required for providing the Identifier of the ordering customer, one of the following options must be used: 1. First option (preferred): Identify the ordering customer with a different identifier where the length is not an issue. 2. Second option: Continue the information in subfield 2 (Name and Address) using number 8. In option F, subfield 2 (Name and Address): if additional space is required for providing the Customer Identification Number (number 6) or the National Identity Number (number 7) of the ordering customer, one of the following options must be used: 1. First option (preferred): Identify the ordering customer with a different identifier where the length is not an issue. 2. Second option: Continue the information in subfield 2 (Name and Address) using number 8. MT 103 Single Customer Credit Transfer 23 EXAMPLES Option A :50A:/293456-1254349-82 VISTUS31 Option F - Example 1 :50F:/12345678 1/SMITH JOHN 2/299, PARK AVENUE 3/US/NEW YORK, NY 10017 Option F - Example 2 :50F:/BE30001216371411 1/PHILIPS MARK 4/19720830 5/BE/BRUSSELS Option F - Example 3 :50F:DRLC/BE/BRUSSELS/NB0949042 1/DUPONT JACQUES 2/HIGH STREET 6, APT 6C 3/BE/BRUSSELS Option F - Example 4 :50F:NIDN/DE/121231234342 1/MANN GEORG 6/DE/ABC BANK/1234578293 Option F - Example 5 :50F:CUST/DE/ABC BANK/123456789/8-123456 1/MANN GEORG 2/LOW STREET 7 3/DE/FRANKFURT 8/7890 This means that the customer identification number of Mann Georg assigned by ABC Bank is 123456789/8-1234567890. 10. Field 51A: Sending Institution FORMAT Option A [/1!a][/34x] 4!a2!a2!c[3!c] (Party Identifier) (Identifier Code) PRESENCE Optional DEFINITION This field identifies the Sender of the message. NETWORK VALIDATED RULES Field 51A is only valid in FileAct (Error code(s): D63). Standards MT November 2013 24 Message Reference Guide - MT 103 Single Customer Credit Transfer USAGE RULES At least the first 8 characters of the BIC in this field must be identical to the originator of this FileAct message. The content of field 20, Sender's reference together with the content of this field provides the message identification which is to be used in case of queries, cancellations etc. EXAMPLES :51A:ABNANL2A 11. Field 52a: Ordering Institution FORMAT Option A [/1!a][/34x] 4!a2!a2!c[3!c] (Party Identifier) (Identifier Code) Option D [/1!a][/34x] 4*35x (Party Identifier) (Name and Address) PRESENCE Optional DEFINITION This field specifies the financial institution of the ordering customer, when different from the Sender, even if field 50a contains an IBAN. CODES In option A, Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash '//': AT 5!n Austrian Bankleitzahl AU 6!n Australian Bank State Branch (BSB) Code BL 8!n German Bankleitzahl CC 9!n Canadian Payments Association Payment Routing Number ES 8..9n Spanish Domestic Interbanking Code FW Pay by Fedwire GR 7!n HEBIC (Hellenic Bank Identification Code) HK 3!n Bank Code of Hong Kong IE 6!n Irish National Clearing Code (NSC) IN 11!c Indian Financial System Code (IFSC) IT 10!n Italian Domestic Identification Code PL 8!n Polish National Clearing Code (KNR) PT 8!n Portuguese National Clearing Code SC 6!n UK Domestic Sort Code MT 103 Single Customer Credit Transfer 25 CODES In option D, Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash '//': AT 5!n Austrian Bankleitzahl AU 6!n Australian Bank State Branch (BSB) Code BL 8!n German Bankleitzahl CC 9!n Canadian Payments Association Payment Routing Number CH 6!n CHIPS Universal Identifier CP 4!n CHIPS Participant Identifier ES 8..9n Spanish Domestic Interbanking Code FW 9!n Fedwire Routing Number GR 7!n HEBIC (Hellenic Bank Identification Code) HK 3!n Bank Code of Hong Kong IE 6!n Irish National Clearing Code (NSC) IN 11!c Indian Financial System Code (IFSC) IT 10!n Italian Domestic Identification Code PL 8!n Polish National Clearing Code (KNR) PT 8!n Portuguese National Clearing Code RU 9!n Russian Central Bank Identification Code SC 6!n UK Domestic Sort Code SW 3..5n Swiss Clearing Code (BC code) SW 6!n Swiss Clearing Code (SIC code) NETWORK VALIDATED RULES Identifier Code must be a registered financial institution BIC (Error code(s): T27, T28, T29, T45). Identifier Code must be a financial institution BIC. This error code applies to all types of BICs refer- enced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destina- tions and Test & Training destinations (Error code(s): C05). USAGE RULES The coded information contained in field 52a must be meaningful to the Receiver of the message. Option A is the preferred option. Option D should only be used when the ordering financial institution has no BIC. EXAMPLES :52A:ABNANL2A Standards MT November 2013 26 Message Reference Guide - MT 103 Single Customer Credit Transfer 12. Field 53a: Sender's Correspondent FORMAT Option A [/1!a][/34x] 4!a2!a2!c[3!c] (Party Identifier) (Identifier Code) Option B [/1!a][/34x] [35x] (Party Identifier) (Location) Option D [/1!a][/34x] 4*35x (Party Identifier) (Name and Address) PRESENCE Conditional (see rules C4, C5, C7) DEFINITION Where required, this field specifies the account or branch of the Sender or another financial institution through which the Sender will reimburse the Receiver. NETWORK VALIDATED RULES Identifier Code must be a registered financial institution BIC (Error code(s): T27, T28, T29, T45). Identifier Code must be a financial institution BIC. This error code applies to all types of BICs refer- enced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destina- tions and Test & Training destinations (Error code(s): C05). USAGE RULES Absence of this field implies that there is a unique account relationship between the Sender and the Re- ceiver or that the bilaterally agreed account is to be used for settlement. Option A is the preferred option. In those cases where there are multiple direct account relationships, in the currency of the transaction, between the Sender and the Receiver, and one of these accounts is to be used for reimbursement, the account to be credited or debited must be indicated in field 53a, using option B with the party identifier only. If there is no direct account relationship, in the currency of the transaction, between the Sender and the Receiver (or branch of the Receiver when specified in field 54a), then field 53a must be present. When field 53a is present and contains a branch of the Sender, the need for a cover message is depen- dent on the currency of the transaction, the relationship between the Sender and the Receiver and the contents of field 54a, if present. A branch of the Receiver may appear in field 53a if the financial institution providing reimbursement is both the Sender's correspondent and a branch of the Receiver, and the Sender intends to send a cover message to the branch of the Receiver. In this case, the Receiver will be paid by its branch in field 53a. In all other cases, when field 53a is present, a cover message, that is, MT 202 COV or equivalent non- SWIFT must be sent to the financial institution identified in field 53a. When field 53B is used to specify a branch city name, it must always be a branch of the Sender. The use and interpretation of fields 53a and 54a is, in all cases, dictated by the currency of the transac- tion and the correspondent relationship between the Sender and Receiver relative to that currency. MT 103 Single Customer Credit Transfer 27 EXAMPLES :53A:ABNANL2A 13. Field 54a: Receiver's Correspondent FORMAT Option A [/1!a][/34x] 4!a2!a2!c[3!c] (Party Identifier) (Identifier Code) Option B [/1!a][/34x] [35x] (Party Identifier) (Location) Option D [/1!a][/34x] 4*35x (Party Identifier) (Name and Address) PRESENCE Conditional (see rules C6, C7) DEFINITION This field specifies the branch of the Receiver or another financial institution at which the funds will be made available to the Receiver. NETWORK VALIDATED RULES Identifier Code must be a registered financial institution BIC (Error code(s): T27, T28, T29, T45). Identifier Code must be a financial institution BIC. This error code applies to all types of BICs refer- enced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destina- tions and Test & Training destinations (Error code(s): C05). USAGE RULES When the funds are made available to the Receiver's branch through a financial institution other than that indicated in field 53a, this financial institution, that is, intermediary reimbursement institution shall be specified in field 54a and field 55a shall contain the Receiver's branch. Option A is the preferred option. Option B must only be used with a location. In those cases where field 54a contains a branch of the Receiver, and is not preceded by field 53a, or field 53a contains an account of the Sender serviced by the Receiver's branch, the Receiver will claim reimbursement from its branch. If field 54a contains a branch of the Receiver and field 53a contains a branch of the Sender, the Receiv- er will claim reimbursement from its branch or will be paid by its branch, depending on the currency of the transfer and the relationship between the Sender and the Receiver. In all other cases where field 54a contains a branch of the Receiver, the Receiver will be paid by its branch in field 54a. A branch of the Sender must not appear in field 54a. If the branch of the Sender or other financial institution specified in field 53a is also the account servicer for the Receiver, field 54a must not be present. Field 54a containing the name of a financial institution other than the Receiver's branch must be pre- ceded by field 53a; the Receiver will be paid by the financial institution in field 54a. Standards MT November 2013 28 Message Reference Guide - MT 103 Single Customer Credit Transfer The use and interpretation of fields 53a and 54a is in all cases dictated by the currency of the transac- tion and the correspondent relationship between the Sender and Receiver relative to that currency. EXAMPLES :54A:IRVTUS3N 14. Field 55a: Third Reimbursement Institution FORMAT Option A [/1!a][/34x] 4!a2!a2!c[3!c] (Party Identifier) (Identifier Code) Option B [/1!a][/34x] [35x] (Party Identifier) (Location) Option D [/1!a][/34x] 4*35x (Party Identifier) (Name and Address) PRESENCE Optional DEFINITION This field specifies the Receiver's branch, when the funds are made available to this branch through a financial institution other than that indicated in field 53a. NETWORK VALIDATED RULES Identifier Code must be a registered financial institution BIC (Error code(s): T27, T28, T29, T45). Identifier Code must be a financial institution BIC. This error code applies to all types of BICs refer- enced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destina- tions and Test & Training destinations (Error code(s): C05). USAGE RULES Option A is the preferred option. EXAMPLES :55A:IRVTUS3N 15. Field 56a: Intermediary Institution FORMAT Option A [/1!a][/34x] 4!a2!a2!c[3!c] (Party Identifier) (Identifier Code) Option C /34x (Party Identifier) Option D [/1!a][/34x] 4*35x (Party Identifier) (Name and Address) PRESENCE Optional MT 103 Single Customer Credit Transfer 29 DEFINITION This field specifies the financial institution through which the transaction must pass to reach the account with institution. CODES In option A, Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash '//': AT 5!n Austrian Bankleitzahl AU 6!n Australian Bank State Branch (BSB) Code BL 8!n German Bankleitzahl CC 9!n Canadian Payments Association Payment Routing Number ES 8..9n Spanish Domestic Interbanking Code FW Pay by Fedwire GR 7!n HEBIC (Hellenic Bank Identification Code) HK 3!n Bank Code of Hong Kong IE 6!n Irish National Clearing Code (NSC) IN 11!c Indian Financial System Code (IFSC) IT 10!n Italian Domestic Identification Code NZ 6!n New Zealand National Clearing Code PL 8!n Polish National Clearing Code (KNR) PT 8!n Portuguese National Clearing Code RT Pay by Real Time Gross Settlement SC 6!n UK Domestic Sort Code CODES In option C, or D, Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash '//': AT 5!n Austrian Bankleitzahl AU 6!n Australian Bank State Branch (BSB) Code BL 8!n German Bankleitzahl CC 9!n Canadian Payments Association Payment Routing Number CH 6!n CHIPS Universal Identifier CP 4!n CHIPS Participant Identifier ES 8..9n Spanish Domestic Interbanking Code FW 9!n Fedwire Routing Number GR 7!n HEBIC (Hellenic Bank Identification Code) HK 3!n Bank Code of Hong Kong IE 6!n Irish National Clearing Code (NSC) Standards MT November 2013 30 Message Reference Guide - MT 103 Single Customer Credit Transfer IN 11!c Indian Financial System Code (IFSC) IT 10!n Italian Domestic Identification Code NZ 6!n New Zealand National Clearing Code PL 8!n Polish National Clearing Code (KNR) PT 8!n Portuguese National Clearing Code RT Pay by Real Time Gross Settlement RU 9!n Russian Central Bank Identification Code SC 6!n UK Domestic Sort Code SW 3..5n Swiss Clearing Code (BC code) SW 6!n Swiss Clearing Code (SIC code) NETWORK VALIDATED RULES Identifier Code must be a registered financial institution BIC (Error code(s): T27, T28, T29, T45). Identifier Code must be a financial institution BIC. This error code applies to all types of BICs refer- enced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destina- tions and Test & Training destinations (Error code(s): C05). USAGE RULES When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should appear only once and in the first of the fields 56a and 57a of the payment instruction. When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier of field 56a or 57a. When it is necessary that an incoming SWIFT payment be made to the intermediary or the account with institution via real-time gross settlement (RTGS), the code //RT should appear in the optional Party Identifier of field 56a or 57a. The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other information. If it is used with option C or D, it may be followed by another domestic clearing code. Option A is always the preferred option. Option C must be used containing a 2!a clearing system code preceded by a double slash '//'. Option D must only be used in exceptional circumstances: when the party cannot be identified by a fi- nancial institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use. When qualified by a clearing system code or an account number, the use of option D will enable the au- tomated processing of the instruction(s) by the Receiver. EXAMPLES :56A:IRVTUS3N 16. Field 57a: Account With Institution FORMAT Option A [/1!a][/34x] (Party Identifier) MT 103 Single Customer Credit Transfer 31 4!a2!a2!c[3!c] (Identifier Code) Option B [/1!a][/34x] [35x] (Party Identifier) (Location) Option C /34x (Party Identifier) Option D [/1!a][/34x] 4*35x (Party Identifier) (Name and Address) PRESENCE Conditional (see rules C9, C11) DEFINITION This field specifies the financial institution which services the account for the beneficiary customer. This is applicable even if field 59 or 59A contains an IBAN. CODES In option A, Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash '//': AT 5!n Austrian Bankleitzahl AU 6!n Australian Bank State Branch (BSB) Code BL 8!n German Bankleitzahl CC 9!n Canadian Payments Association Payment Routing Number ES 8..9n Spanish Domestic Interbanking Code FW Pay by Fedwire GR 7!n HEBIC (Hellenic Bank Identification Code) HK 3!n Bank Code of Hong Kong IE 6!n Irish National Clearing Code (NSC) IN 11!c Indian Financial System Code (IFSC) IT 10!n Italian Domestic Identification Code NZ 6!n New Zealand National Clearing Code PL 8!n Polish National Clearing Code (KNR) PT 8!n Portuguese National Clearing Code RT Pay by Real Time Gross Settlement SC 6!n UK Domestic Sort Code ZA 6!n South African National Clearing Code CODES In option C, or D, Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash '//': AT 5!n Austrian Bankleitzahl AU 6!n Australian Bank State Branch (BSB) Code Standards MT November 2013 32 Message Reference Guide - MT 103 Single Customer Credit Transfer BL 8!n German Bankleitzahl CC 9!n Canadian Payments Association Payment Routing Number CH 6!n CHIPS Universal Identifier CP 4!n CHIPS Participant Identifier ES 8..9n Spanish Domestic Interbanking Code FW 9!n Fedwire Routing Number GR 7!n HEBIC (Hellenic Bank Identification Code) HK 3!n Bank Code of Hong Kong IE 6!n Irish National Clearing Code (NSC) IN 11!c Indian Financial System Code (IFSC) IT 10!n Italian Domestic Identification Code NZ 6!n New Zealand National Clearing Code PL 8!n Polish National Clearing Code (KNR) PT 8!n Portuguese National Clearing Code RT Pay by Real Time Gross Settlement RU 9!n Russian Central Bank Identification Code SC 6!n UK Domestic Sort Code SW 3..5n Swiss Clearing Code (BC code) SW 6!n Swiss Clearing Code (SIC code) ZA 6!n South African National Clearing Code NETWORK VALIDATED RULES Identifier Code must be a registered financial institution BIC (Error code(s): T27, T28, T29, T45). Identifier Code must be a financial institution BIC. This error code applies to all types of BICs refer- enced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destina- tions and Test & Training destinations (Error code(s): C05). USAGE RULES When field 57a is not present, it means that the Receiver is also the account with institution. When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should appear only once and in the first of the fields 56a and 57a of the payment instruction. When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier of field 56a or 57a. When it is necessary that an incoming SWIFT payment be made to the intermediary or the account with institution via real-time gross settlement (RTGS), the code //RT should appear in the optional Party Identifier of field 56a or 57a. The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other information. If it is used with option C or D, it may be followed by another domestic clearing code. Option A is the preferred option. Option C must be used containing a 2!a clearing system code preceded by a double slash '//'. MT 103 Single Customer Credit Transfer 33 Option D must only be used in exceptional circumstances: when the party cannot be identified by a fi- nancial institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use. When qualified by a clearing system code or an account number, the use of option D will enable the au- tomated processing of the instruction(s) by the Receiver. EXAMPLES :57A:ABNANL2A 17. Field 59a: Beneficiary Customer FORMAT [/34x] 4*35x (Account) (Name and Address) Option A [/34x] 4!a2!a2!c[3!c] (Account) (Identifier Code) PRESENCE Mandatory DEFINITION This field specifies the customer which will be paid. CODES Account may contain one of the following codes, preceded by a double slash '//': CH 6!n CHIPS Universal Identifier NETWORK VALIDATED RULES Identifier Code must be a registered BIC (Error code(s): T27, T28, T29, T45). USAGE RULES At least the name or the BIC of the beneficiary customer is mandatory. If a non-financial institution BIC is specified, it must be meaningful for the financial institution that ser- vices the account for the beneficiary customer. EXAMPLES :59:/BE62510007547061 JOHANN WILLEMS RUE JOSEPH II, 19 1040 BRUSSELS 18. Field 70: Remittance Information FORMAT 4*35x (Narrative) Standards MT November 2013 34 Message Reference Guide - MT 103 Single Customer Credit Transfer PRESENCE Optional DEFINITION This field specifies either the details of the individual transaction or a reference to another message containing the details which are to be transmitted to the beneficiary customer. CODES One of the following codes may be used, placed between slashes ('/'): INV Invoice Invoice (followed by the date, reference and details of the invoice). IPI International Payment Instruction Unique reference identifying a related International Payment Instruc- tion (followed by up to 20 characters). RFB Reference for Benefi- ciary Reference for the beneficiary customer (followed by up to 16 charac- ters). ROC Reference of Cus- tomer Ordering customer's reference. TSU Trade Services Utility transaction The code placed between slashes ('/') must be followed by the TSU transaction identifier, a slash ('/'), the invoice number, a slash ('/') and the amount paid. USAGE RULES For clearing purposes, the Sender must check with the Receiver regarding length restrictions of field 70. The information specified in this field is intended only for the beneficiary customer, that is, this informa- tion only needs to be conveyed by the Receiver. Multiple references can be used, if separated with a double slash, '//'. Code must not be repeated be- tween two references of the same kind. For STP purposes, when an ISO 11649 Creditor Reference is present in this field it must be on the first line, without any characters preceding it, and it must be the only information on that line. EXAMPLES :70:/RFB/BET072 :70:/INV/abc/SDF-96//1234-234///ROC/98IU 87 :70:/TSU/00000089963-0820-01/ABC-15/256 214, 19. Field 71A: Details of Charges FORMAT Option A 3!a (Code) PRESENCE Mandatory DEFINITION This field specifies which party will bear the charges for the transaction. MT 103 Single Customer Credit Transfer 35 CODES One of the following codes must be used (Error code(s): T08): BEN Beneficiary All transaction charges are to be borne by the beneficiary customer. OUR Our customer charged All transaction charges are to be borne by the ordering customer. SHA Shared charges All transaction charges other than the charges of the financial institu- tion servicing the ordering customer account are borne by the benefi- ciary customer. EXAMPLES :71A:BEN 20. Field 71F: Sender's Charges FORMAT Option F 3!a15d (Currency)(Amount) PRESENCE Optional DEFINITION This repetitive field specifies the currency and amount of the transaction charges deducted by the Sender and by previous banks in the transaction chain. NETWORK VALIDATED RULES Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is in- cluded in the maximum length. The number of digits following the comma must not exceed the maxi- mum number allowed for the specified currency (Error code(s): C03, T40, T43). USAGE RULES These fields are conveyed for transparency reasons. The net amount after deduction of the Sender's charges will be quoted as the inter-bank settled amount in field 32A. This field may be repeated to specify to the Receiver the currency and amount of charges taken by preceding banks in the transaction chain. Charges should be indicated in the order in which they have been deducted from the transaction amount, that is, the first occurrence of this field specifies the charges of the first bank in the transaction chain that deducted charges; the last occurrence always gives the Sender's charges. EXAMPLES :71F:EUR8,00 Standards MT November 2013 36 Message Reference Guide - MT 103 Single Customer Credit Transfer 21. Field 71G: Receiver's Charges FORMAT Option G 3!a15d (Currency)(Amount) PRESENCE Optional DEFINITION This field specifies the currency and amount of the transaction charges due to the Receiver. NETWORK VALIDATED RULES Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is in- cluded in the maximum length. The number of digits following the comma must not exceed the maxi- mum number allowed for the specified currency (Error code(s): C03, T40, T43). If field 71G is present, the amount must not equal '0' (Error code(s): D57). USAGE RULES This field is conveyed for accounting reasons, that is, to facilitate bookkeeping. Where field 71A indicates OUR payments, this field identifies the charges due, which have been pre- paid and included in the interbank settlement amount. EXAMPLES :71G:EUR5,50 22. Field 72: Sender to Receiver Information FORMAT 6*35x (Narrative Structured Format) The following line formats must be used: Line 1 /8c/[additional information] (Code)(Narrative) Lines 2-6 [//additional information] or [/8c/[additional information]] (Narrative) or (Code)(Narrative) PRESENCE Optional DEFINITION This field specifies additional information for the Receiver or other party specified. CODES Unless bilaterally agreed otherwise between the Sender and the Receiver, one of the following codes must be used in Code, placed between slashes ('/'): MT 103 Single Customer Credit Transfer 37 ACC Account with institu- tion Instructions following are for the account with institution. INS Instructing institution The instructing institution which instructed the Sender to execute the transaction. INT Intermediary institu- tion Instructions following are for the intermediary institution. REC Receiver Instructions following are for the Receiver of the message. NETWORK VALIDATED RULES If the first six characters in line 1 contain the character string /REJT/ or /RETN/, then it is mandatory to follow the Payments Reject/Return Guidelines described in the Standards MT Usage Guidelines (Er- ror code(s): T80). USAGE RULES Field 72 must never be used for information for which another field is intended. Each item for which a code exists must start with that code and may be completed with additional infor- mation. Each code used must be between slashes and appear at the beginning of a line. It may be followed by additional narrative text. Narrative text relating to a preceding code, which is continued on the next line(s), must start with a dou- ble slash '//', and, if used, must begin on a new line. Narrative text should preferably be the last informa- tion in this field. Use of field 72, particularly with uncoded instructions, may cause delay, because, in automated sys- tems, the presence of this field will normally require manual intervention. It is strongly recommended to use the standard codes proposed above. In any case, where bilateral agreements covering the use of codes in this field are in effect, the code must conform to the structured format of this field. EXAMPLES :72:/INS/ABNANL2A 23. Field 77B: Regulatory Reporting FORMAT Option B 3*35x (Narrative) In addition to narrative text, the following line formats may be used: Line 1 /8a/2!a[//additional informa- tion] (Code)(Country Code)(Narrative) Lines 2-3 [//additional information] (Narrative) PRESENCE Optional Standards MT November 2013 38 Message Reference Guide - MT 103 Single Customer Credit Transfer DEFINITION This field specifies the codes for the statutory and/or regulatory information required by the authorities in the country of Receiver or Sender. CODES Where the residence of either the ordering customer or the beneficiary customer is to be identified, one of the following codes may be used in Code, placed between slashes ('/'): BENEFRES Residence of the beneficiary customer. ORDERRES Residence of the ordering customer. USAGE RULES Country Code consists of the ISO country code of the country of residence of the ordering customer or beneficiary customer. The information specified must not have been explicitly conveyed in another field. EXAMPLES :77B:/ORDERRES/BE//MEILAAN 1, 9000 GENT MT 103 Examples MT 103 Examples for the Core MT 103, used outside any Service Level Agreements The message has the following layout: MT 103 Single Customer Credit Transfer Status Tag Field Name Content/Options No. M 20 Sender's Reference 16x 1 -----> O 13C Time indication /8c/4!n1!x4!n 2 -----| M 23B Bank Operation Code CRED 3 -----> O 23E Instruction Code 4!c[/30x] 4 -----| O 26T Transaction Type Code 3!a 5 M 32A Value Date/Currency/Interbank Settled Amount 6!n3!a15d 6 O 33B Currency/Instructed Amount 3!a15d 7 O 36 Exchange Rate 12d 8 M 50a Ordering Customer A, F or K 9 MT 103 Single Customer Credit Transfer 39 Status Tag Field Name Content/Options No. O 51A Sending Institution [/1!a][/34x]4!a2!a2!c[3!c] 10 O 52a Ordering Institution A or D 11 O 53a Sender's Correspondent A, B or D 12 O 54a Receiver's Correspondent A, B or D 13 O 55a Third Reimbursement Institution A, B or D 14 O 56a Intermediary Institution A, C or D 15 O 57a Account With Institution A, B, C or D 16 M 59a Beneficiary Customer A or no letter option 17 O 70 Remittance Information 4*35x 18 M 71A Details of Charges 3!a 19 -----> O 71F Sender's Charges 3!a15d 20 -----| O 71G Receiver's Charges 3!a15d 21 O 72 Sender to Receiver Information 6*35x 22 O 77B Regulatory Reporting 3*35x 23 Example 1.1: Single Customer Credit Transfer with Direct Account Relationship Narrative Biodata G.m.b.H. orders UBS, Zrich, to pay euro 1,958.47 to ABN Amro Bank, Amsterdam, for the ac- count of H.F. Janssen. Standards MT November 2013 40 Message Reference Guide - MT 103 Single Customer Credit Transfer Information Flow 59a 50a D 0 0 1 0 0 2 0 UBS Zurich Biodata GmbH Zurich ABN Amro Bank Amsterdam Sender Receiver H.F. Janssen Amsterdam Beneficiary Customer Ordering Customer MT 103 MT 103 MT SWIFT Message Explanation Format Sender UBSWCHZH80A Message type 103 Receiver ABNANL2A Message text Sender's reference :20:494931/DEV Bank operation code :23B:CRED Value date/currency/interbank settled amount :32A:090828EUR1958,47 Currency/Instructed Amount :33B:EUR1958,47 Ordering customer :50K:/122267890BIODATA GMBHHOCHSTRASSE, 278022-ZURICH SWITZERLAND Beneficiary customer :59:/502664959 H.F. JANSSEN LEDEBOERSTRAAT 27 AMSTERDAM Details of charges :71A:SHA End of message text/trailer MT 103 Single Customer Credit Transfer 41 Note No reimbursement party has been indicated in the above message. The direct account relationship, in the currency of the transfer, between the Sender and the Receiver will be used. Example 1.2: Single Customer Credit Transfer Specifying Account for Reimbursement Narrative Biodata G.m.b.H. orders UBS, Zrich, to pay euro 1,958.47 to ABN Amro Bank, Amsterdam, for the ac- count of H.F. Janssen, in payment of invoice number 18042 dated 15 July 2009. As there is more than one account relationship in the currency of the transfer between the Sender and Receiver, UBS, Zrich specifies that account number 21 94 29 055 should be used for reimbursement. UBS, Zrich, knows that ABN Amro Bank, Amsterdam, will charge euro 2.50 to execute this transaction. Information Flow 59a 50a D 0 0 1 0 0 2 1 UBS Zurich Biodata GmbH Zurich ABN Amro Bank Amsterdam Sender Receiver H.F. Janssen Amsterdam Beneficiary Customer Ordering Customer MT 103 MT SWIFT Message Explanation Format Sender UBSWCHZH80A Message type 103 Receiver ABNANL2A Message text Standards MT November 2013 42 Message Reference Guide - MT 103 Single Customer Credit Transfer Explanation Format Sender's reference :20:494932/DEV Bank operation code :23B:CRED Value date/currency/interbank settled amount :32A:090828EUR1960,97 Currency/Instructed amount :33B:EUR1958,47 Ordering customer :50K:/122267890BIODATA GMBHHOCHSTRASSE, 278022-ZURICH SWITZERLAND Sender's correspondent (1) :53B:/219429055 Beneficiary customer :59:/502664959 H.F. JANSSEN LEDEBOERSTRAAT 27 AMSTERDAM Remittance information (2) :70:/INV/18042-090715 Details of charges :71A:OUR Receiver's charges :71G:EUR2,50 End of message text/trailer (1) Field 53B indicates the account number of the Sender's account, serviced by the Receiver, which is to be used for reim- bursement in the transfer. (2) As the Reference for the beneficiary is an invoice number, the code /INV/ is used, followed by the invoice number. Example 1.3: Single Customer Credit Transfer with Ordering and Account With Institu- tions Narrative Franz Holzapfel G.m.b.H. orders Finanzbank AG, Eisenstadt, to pay, value 28 August 2009, US Dol- lars 850 into C. Won's account number 729615-941 with Oversea-Chinese Banking Cooperation, Sin- gapore. The payment is for July 2009 expenses. Finanzbank AG, Eisenstadt, asks Bank Austria, Vienna, to make the payment. Both Bank Austria, Vien- na, and Oversea-Chinese Banking Cooperation, Singapore, have their US dollars account at Citibank's New York office. Both customers agree to share the charges. Citibank charges US Dollars 10. MT 103 Single Customer Credit Transfer 43 Information Flow 59a 50a 52a 57a D 0 0 1 0 0 2 2 Bank Austria Vienna Franz Holzapfel GmbH Vienna Citibank New York Sender Receiver C. Won Singapore Beneficiary Customer Ordering Customer Finanzbank AG Eisenstadt Ordering Institution Oversea-Chinese Banking Cooperation Singapore Account With Institution (Second MT 103) First MT 103 MT First SWIFT Message, MT 103 Explanation Format Sender BKAUATWW Message type 103 Receiver CITIUS33 Message text Sender's reference :20:494938/DEV Bank operation code :23B:CRED Value date/currency/interbank settled amount :32A:090828USD850, Standards MT November 2013 44 Message Reference Guide - MT 103 Single Customer Credit Transfer Explanation Format Ordering customer :50F:/9422678901/FRANZ HOLZAPFEL GMBH2/GELB STRASSE, 13 3/AT/VIENNA Ordering institution :52D:FINANZBANK AG EISENSTADT Account with institution :57A:OCBCSGSG Beneficiary customer :59:/729615-941 C.WON PARK AVENUE 1 SINGAPORE Remittance information :70:JULY 2009 EXPENSES Details of charges :71A:SHA End of message text/trailer Mapping The following illustrates the mapping of the first MT 103 onto the next MT 103: S R 20 23B 32A 50a 52a 57a 59a 70 71A S R 20 23B 32A 33B 50a 52a 59a 70 71A 71F 72/INS/ MT 103 MT 103 D 0 0 1 0 0 4 6 Second SWIFT Message, MT 103 Explanation Format Sender CITIUS33 Message type 103 Receiver OCBCSGSG Message text Sender's reference :20:494938/DEV Bank operation code :23B:CRED Value date/currency/interbank settled amount :32A:090828USD840, Currency/Instructed amount :33B:USD850, MT 103 Single Customer Credit Transfer 45 Explanation Format Ordering customer :50F:/9422678901/FRANZ HOLZAPFEL GMBH2/GELB STRASSE, 13 3/AT/VIENNA Ordering institution :52D:FINANZBANK AG EISENSTADT Beneficiary customer :59:/729615-941 C.WON PARK AVENUE 1 SINGAPORE Remittance information :70:JULY 2009 EXPENSES Details of charges :71A:SHA Sender's charges :71F:USD10, Sender to receiver information :72:/INS/BKAUATWW End of message text/trailer Example 1.4: Single Customer Credit Transfer with Reimbursement Through Two In- stitutions Narrative Value August 28, 2009, Franz Holzapfel G.m.b.H. orders Bank Austria, Vienna, to pay US Dollars 1,121.50 to C. Klein, Bloemengracht 15, Amsterdam, whose account number 72 34 91 524 is with ABN Amro Bank, Amsterdam. The beneficiary is to be notified by phone at 20.527.19.60. Bank Austria uses reference 394882. This transfer may be sent via SWIFT using one of the following methods: 1. Sent to the party closest to the beneficiary, through several reimbursement institutions 2. Sent to the next party in the transfer. Note The alternative selected is dependent on correspondent relationships and financial practice in the countries involved. Method 1 SWIFT MT 103 to the Party Closest to the Beneficiary Bank Austria sends the following messages: A. A customer transfer to ABN Amro Bank, Amsterdam. B. A cover message for the US dollar payment, which is provided through Chase Manhattan Bank, New York, to ABN Amro Bank, New York. Standards MT November 2013 46 Message Reference Guide - MT 103 Single Customer Credit Transfer Message A SWIFT MT 103 Single Customer Credit Transfer Information Flow 59a 50a 53a D 0 0 1 0 0 2 3 Bank Austria Vienna Franz Holzapfel GmbH Vienna ABN Amro Bank Amsterdam (Field 58a of MT 202 COV) Sender Message A Receiver C. Klein Amsterdam Beneficiary Customer Ordering Customer Chase Manhattan Bank New York (Receiver of MT 202 COV) Sender's Correspondent MT 103 54a ABN Amro Bank New York (Field 57a of MT 202 COV) Receiver's Correspondent (Message B MT 202 COV) (MT 910/950) MT SWIFT Message, MT 103 Explanation Format Sender BKAUATWW Message type 103 Receiver ABNANL2A Message text Sender's reference :20:394882 Bank operation code :23B:CRED Instruction code :23E:PHOB/20.527.19.60 Value date/currency/interbank settled amount :32A:090828USD1121,50 Currency/Instructed amount :33B:USD1121,50 MT 103 Single Customer Credit Transfer 47 Explanation Format Ordering customer :50F:/9422678901/FRANZ HOLZAPFEL GMBH2/GELB STRASSE, 13 3/AT/VIENNA Sender's correspondent (1) :53A:CHASUS33 Receiver's correspondent (2) :54A:ABNAUS33 Beneficiary customer :59:/723491524 C. KLEIN BLOEMENGRACHT 15 AMSTERDAM Details of charges :71A:SHA End of message text/trailer (1) Field 53A indicates the institution which is to provide the funds to the Receiver on behalf of the Sender. (2) Field 54A is the receiver's correspondent - the institution which will receive the funds on behalf of the Receiver. Mapping S R 20 23B 23E 32A 33B 50a 53a 54a 59a 71A S R 20 21 32A 57a 58a 50a 59a 33B MT 103 MT 202 COV D 0 0 1 0 0 4 7 Standards MT November 2013 48 Message Reference Guide - MT 103 Single Customer Credit Transfer Message B SWIFT MT 202 COV (Cover message) Information Flow 58a 57a D 0 0 1 0 0 2 4 Bank Austria Vienna Chase Manhattan Bank New York (Field 53a in MT 103) Sender Receiver (Message A MT 103) ABN Amro Bank Amsterdam (Receiver of MT 103) Beneficiary Institution ABN Amro Bank New York (Field 54a in MT 103) Account With Institution Message B MT 202 COV MT SWIFT Message, MT 202 COV Explanation Format Sender BKAUATWW Message type 202 Receiver CHASUS33 Validation flag 119:COV Message Text: General Information Transaction reference number :20:203998988 Related reference (1) :21:394882 Value date/currency code/amount :32A:090828USD1121,50 Account with institution :57A:ABNAUS33 Beneficiary institution :58A:ABNANL2A Underlying Customer Credit Transfer Details Ordering customer :50F:/9422678901/FRANZ HOLZAPFEL GMBH2/GELB STRASSE, 13 3/AT/VIENNA MT 103 Single Customer Credit Transfer 49 Explanation Format Beneficiary customer :59:/723491524 C. KLEIN BLOEMENGRACHT 15 AMSTERDAM Currency/Instructed amount :33B:USD1121,50 End of message text/trailer (1) The related reference is the Sender's reference of the Single Customer Credit Transfer. Standards MT November 2013 50 Message Reference Guide - MT 103 Single Customer Credit Transfer Method 2 SWIFT MT 103 to the Next Party in the Transaction Message A SWIFT MT 103 Single Customer Credit Transfer Information Flow 59a 50a 56a D 0 0 1 0 0 2 5 Bank Austria Vienna Franz Holzapfel GmbH Vienna Chase Manhattan Bank New York Sender Receiver (Message C MT 103) (Message B MT 103*) C. Klein Amsterdam Beneficiary Customer * Or its equivalent domestic clearing message Ordering Customer ABN Amro Bank New York Intermediary Institution MT 103 Message A 57a ABN Amro Bank Amsterdam Account With Institution MT SWIFT Message, MT 103 Explanation Format Sender BKAUATWW Message type 103 Receiver CHASUS33 MT 103 Single Customer Credit Transfer 51 Explanation Format Message text Sender's reference :20:394882 Bank operation code :23B:CRED Instruction code :23E:PHOB/20.527.19.60 Value date/currency/interbank settled amount :32A:090828USD1121,50 Ordering customer :50F:/9422678901/FRANZ HOLZAPFEL GMBH2/GELB STRASSE, 13 3/AT/VIENNA Intermediary institution (1) :56A:ABNAUS33 Account with institution (2) :57A:ABNANL2A Beneficiary customer :59:/723491524 C. KLEIN BLOEMENGRACHT 15 AMSTERDAM Details of charges :71A:SHA End of message text/trailer (1) The intermediary institution, ABN Amro Bank, New York, will receive the funds from the Receiver of this message, Chase Manhattan Bank, New York. (2) ABN Amro Bank, Amsterdam, will receive the funds from the intermediary institution, its New York office, for credit to the beneficiary's account. Mapping S R 20 23B 32A 50a 56A 57A 59a 71A MT 103 D 0 0 1 0 0 6 0 S R 20 23B 32A 33B 50a 52A 57A 59a 71A 71F MT 103 S R 20 23B 32A 33B 50a 52A 59a 71A 71F 71F 72/INS/ MT 103 Standards MT November 2013 52 Message Reference Guide - MT 103 Single Customer Credit Transfer Message B 2nd SWIFT MT 103 (or its equivalent domestic clearing message) Information Flow 59a 50a 52a 57a D 0 0 1 0 0 2 6 Chase Manhattan Bank New York Franz Holzapfel GmbH Vienna ABN Amro Bank New York Sender Receiver C. Klein Amsterdam Beneficiary Customer Ordering Customer Bank Austria Vienna Ordering Institution ABN Amro Bank Amsterdam Account With Institution MT 103 (Message C, MT 103) Message B (Message A, MT 103) MT SWIFT Message, MT 103 Explanation Format Sender CHASUS33 Message type 103 Receiver ABNAUS33 Message text Sender's reference :20:52285724 MT 103 Single Customer Credit Transfer 53 Explanation Format Bank operation code :23B:CRED Instruction code :23E:PHOB/20.527.19.60 Value date/currency/interbank settled amount :32A:090828USD1111,50 Currency/Instructed amount :33B:USD1121,50 Ordering customer :50F:/9422678901/FRANZ HOLZAPFEL GMBH2/GELB STRASSE, 13 3/AT/VIENNA Ordering institution (1) :52A:BKAUATWW Account with institution (2) :57A:ABNANL2A Beneficiary customer :59:/723491524 C. KLEIN BLOEMENGRACHT 15 AMSTERDAM Details of charges :71A:SHA Sender's charges :71F:USD10, End of message text/trailer (1) The Sender of the initial MT 103 is Bank Austria, Vienna, which is the ordering institution in all subsequent messages. (2) ABN Amro Bank, Amsterdam, will receive the funds from the Receiver of this message, its New York office, for credit to the beneficiary's account. Standards MT November 2013 54 Message Reference Guide - MT 103 Single Customer Credit Transfer Message C 3rd SWIFT MT 103 Information Flow 59a 50a 52A D 0 0 1 0 0 5 1 Chase Manhattan Bank New York Franz Holzapfel GmbH Vienna Instructing Institution C. Klein Amsterdam Beneficiary Customer Ordering Customer Bank Austria Vienna Ordering Institution (Message B, MT 103) (Message A, MT 103) 72 ABN Amro Bank New York Sender ABN Amro Bank Amsterdam Receiver MT 103 Message C MT SWIFT Message, MT 103 Explanation Format Sender ABNAUS33 Message type 103 Receiver ABNANL2A MT 103 Single Customer Credit Transfer 55 Explanation Format Message text Sender's reference :20:5387354 Bank operation code :23B:CRED Instruction code :23E:PHOB/20.527.19.60 Value date/currency/interbank settled amount :32A:090828USD1101,50 Currency/Instructed amount :33B:USD1121,50 Ordering customer :50F:/942267890 1/FRANZ HOLZAPFEL GMBH 2/GELBSTRASSE, 13 3/AT/VIENNA Ordering institution (1) :52A:BKAUATWW Beneficiary customer :59:/723491524 C. KLEIN BLOEMENGRACHT 15 AMSTERDAM Details of charges :71A:SHA Sender's charges :71F:USD10, Sender's charges :71F:USD10, Sender to receiver information :72:/INS/CHASUS33 End of message text/trailer (1) The Sender of the initial MT 103 is Bank Austria, Vienna, which is the ordering institution in all subsequent messages. Example 1.5: Single Customer Credit Transfer with Three Reimbursement Institutions Narrative Gian Angelo Imports, Naples, orders Banca Commerciale Italiana, Naples, to pay, value 12 June 2009, US Dollars 5,443.99 to Banque Nationale de Paris, Grenoble, for account number 20041 01005 0500001M026 06 of Killy S.A., Grenoble, in payment of invoice 559661. Banca Commerciale Italiana, Milan, makes the US Dollar payment through its US correspondent, Ban- ca Commerciale Italiana, New York, under reference 8861198-0706. Payment is to be made to Banque Nationale de Paris, Paris, in favour of Banque Nationale de Paris, Grenoble, through its US correspondent, Bank of New York, New York. This transfer may be sent via SWIFT using one of the following methods: 1. Message sent to party closest to the beneficiary, using a third reimbursement institution. 2. Message sent through several reimbursement institutions, using an account with institution. 3. Message sent to the next party in the transaction. Note Although this transfer may also be sent to the next party in the transaction, this method is not illustrated here. The alternative selected is dependent on correspondent relationships and financial practice of the countries involved. Standards MT November 2013 56 Message Reference Guide - MT 103 Single Customer Credit Transfer Method 1 Message Sent to Party Closest to the Beneficiary, Using a Third Reimbursement In- stitution Message A SWIFT MT 103 Single Customer Credit Transfer Information Flow 59a 50a 52a 54a D 0 0 1 0 0 2 7 Banca Commerciale Italiana, Milan Gian Angelo Imports Naples Banque Nationale de Paris, Grenoble (Field 58a of MT 202 COV) Sender Receiver Killy S.A. Grenoble Beneficiary Customer * Or its equivalent domestic clearing message Ordering Customer Bank of New York New York (Field 56a of MT 202 COV) Intermediary Reimbursement Institution MT 103 Message A Banca Commerciale Italiana, Naples Ordering Institution Banca Commerciale Italiana, New York (Receiver of MT 202 COV) Sender's Correspondent 53a 55a Banque Nationale de Paris, Paris (Field 57a of MT 202 COV) Third Reimbursement Institution (Message B (Message C, MT 205 COV*) (Message D, MT 202 COV) MT 202 COV) (MT 910/950) MT SWIFT Message, MT 103 Explanation Format Sender BCITITMM Message type 103 Receiver (1) BNPAFRPPGRE MT 103 Single Customer Credit Transfer 57 Explanation Format Message text Sender's reference :20:8861198-0706 Bank operation code :23B:CRED Value date/currency/interbank settled amount :32A:090612USD5443,99 Currency/Instructed amount :33B:USD5443,99 Ordering customer :50F:/14578267890 1/GIAN ANGELO IMPORTS 2/LUNGO MORE 5 3/IT/NAPLES Ordering institution :52A:BCITITMM500 Sender's correspondent (2) :53A:BCITUS33 Intermediary reimbursement institution (3) :54A:IRVTUS3N Third reimbursement institution :55A:BNPAFRPP Beneficiary customer :59:/20041010050500001M02606 KILLY S.A. GRENOBLE Remittance information (4) :70:/INV/559661 Details of charges :71A:SHA End of message text/trailer (1) The message is sent to Banque Nationale de Paris, Grenoble, the financial institution which is located closest to the benefi- ciary customer. (2) Banca Commerciale Italiana, New York, the sender's correspondent, will provide the funds to the intermediary reimburse- ment institution, Bank of New York, N.Y. (3) Bank of New York, New York, will receive the funds on behalf of Banque Nationale de Paris, Paris (4) As the reference for the beneficiary is an invoice number, the code /INV/ is used, followed by the invoice number. Standards MT November 2013 58 Message Reference Guide - MT 103 Single Customer Credit Transfer Mapping S R 20 21 32A 56a 57a 58a 50a 52a 59a 70 33B S R 20 21 32A 52a 57a 58a 50a 52a 59a 70 33B MT 202 COV MT 205 COV D 0 0 1 0 0 4 9 S R 20 23B 32A 33B 50a 52a 53a 54a 55a 59a 70 71A MT 103 S R 20 21 32A 52a 58a 72/INS/ 50a 52a 59a 70 33B MT 202 COV MT 103 Single Customer Credit Transfer 59 Message B SWIFT MT 202 COV (Cover Message) Information Flow 58a 56a D 0 0 1 0 0 2 8 Banca Commerciale Italiana Milan Banca Commerciale Italiana New York (Field 53a of MT 103) Sender Receiver Message B (Message D MT 202 COV) (Message A MT 103) (Message C MT 205 COV*) Banque Nationale de Paris Grenoble (Receiver of MT 103) Beneficiary Institution * Or its equivalent domestic clearing message Bank of New York New York (Field 54a of MT 103) Intermediary MT 202 COV 57a Banque Nationale de Paris Paris (Field 55a of MT 103) Account With Institution MT SWIFT Message, MT 202 COV Explanation Format Sender BCITITMM Message type 202 Receiver (1) BCITUS33 Validation flag 119:COV Message Text: General Information Transaction reference number :20:597240 Related reference (2) :21:8861198-0706 Standards MT November 2013 60 Message Reference Guide - MT 103 Single Customer Credit Transfer Explanation Format Value date/currency code/amount :32A:090612USD5443,99 Intermediary (3) :56A:IRVTUS3N Account with institution (4) :57A:BNPAFRPP Beneficiary institution :58A:BNPAFRPPGRE Underlying Customer Credit Transfer Details Ordering customer :50F:/14578267890 1/GIAN ANGELO IMPORTS 2/LUNGO MORE 5 3/IT/NAPLES Ordering institution :52A:BCITITMM500 Beneficiary customer :59:/20041010050500001M02606 KILLY S.A. GRENOBLE Remittance information :70:/INV/559661 Currency/Instructed Amount :33B:USD5443,99 End of message text/trailer (1) The message is sent to Banca Commerciale Italiana, New York, ordering transfer of the funds to Bank of New York, New York. (2) The related reference is the Sender's reference of the MT 103. (3) Bank of New York, New York, will pay the funds to Banque Nationale de Paris, Paris, in favour of Grenoble. (4) Banque Nationale de Paris, Paris, will pay the funds to its Grenoble office, in cover of the transaction to Killy, S.A. MT 103 Single Customer Credit Transfer 61 Message C SWIFT MT 205 COV (or its equivalent domestic clearing message) Information Flow 52a 57a D 0 0 1 0 0 2 9 Banca Commerciale Italiana New York (Receiver of MT 202 COV) Banca Commerciale Italiana Milan Bank of New York New York (Field 56a of MT 202 COV) Sender Receiver (Message D MT 202 COV) (Message A MT 103) Message C (Message B MT 202 COV) Banque Nationale de Paris Grenoble (Field 58a of MT 202 COV) Beneficiary Institution Ordering Institution Banque Nationale de Paris Paris (Field 57a of MT 202 COV) Account With Institution MT 205 COV* 58a MT SWIFT Message, MT 205 COV Explanation Format Sender BCITUS33 Message type 205 Receiver (1) IRVTUS3N Validation flag 119:COV Message Text: General Information Transaction reference number :20:4958302594757 Standards MT November 2013 62 Message Reference Guide - MT 103 Single Customer Credit Transfer Explanation Format Related reference (2) :21:8861198-0706 Value date/currency code/amount :32A:090612USD5443,99 Ordering institution :52A:BCITITMM Account with institution (3) :57A:BNPAFRPP Beneficiary institution :58A:BNPAFRPPGRE Underlying Customer Credit Transfer Details Ordering customer :50F:/14578267890 1/GIAN ANGELO IMPORTS 2/LUNGO MORE 5 3/IT/NAPLES Ordering institution :52A:BCITITMM500 Beneficiary customer :59:/20041010050500001M02606 KILLY S.A. GRENOBLE Remittance information :70:/INV/559661 Currency/Instructed Amount :33B:USD5443,99 End of message text/trailer (1) The message is sent to Bank of New York, New York. (2) The related reference is the Sender's reference of the initial MT 103. (3) Bank of New York, New York, will pay the funds to Banque Nationale de Paris, Paris, in favour of Grenoble. MT 103 Single Customer Credit Transfer 63 Message D SWIFT MT 202 COV General Financial Institution Transfer Information Flow 52a 72 D 0 0 1 0 0 3 0 Banca Commerciale Italiana New York Banca Commerciale Italiana Milan Bank of New York New York (Receiver of MT 205 COV*) Sender Receiver (Message C MT 205 COV*) (Message A MT 103) Message D (Message B MT 202 COV) Banque Nationale de Paris Grenoble (Field 58a of MT 205 COV*) Beneficiary Institution Ordering Institution Banque Nationale de Paris Paris (Field 57a of MT 205 COV*) Instructing Institution MT 202 COV 58a MT SWIFT Message, MT 202 COV Explanation Format Sender IRVTUS3N Message type 202 Receiver BNPAFRPP Validation flag 119:COV Message Text: General Information Transaction reference number :20:GH45952-4587 Standards MT November 2013 64 Message Reference Guide - MT 103 Single Customer Credit Transfer Explanation Format Related reference (1) :21:8861198-0706 Value date/currency code/amount :32A:090612USD5443,99 Ordering institution :52A:BCITITMM Beneficiary institution :58A:BNPAFRPPGRE Sender to receiver information> (2) :72:/INS/BCITUS33 Underlying Customer Credit Transfer Details Ordering customer :50F:/14578267890 1/GIAN ANGELO IMPORTS 2/LUNGO MORE 5 3/IT/NAPLES Ordering institution :52A:BCITITMM500 Beneficiary customer :59:/20041010050500001M02606 KILLY S.A. GRENOBLE Remittance information :70:/INV/559661 Currency/Instructed Amount :33B:USD5443,99 End of message text/trailer (1) The related reference is the Sender's reference of the initial MT 103. (2) The instructing institution is Banca Commerciale Italiana, New York. MT 103 Single Customer Credit Transfer 65 Method 2 Customer Transfer Sent Through Several Reimbursement Institutions Using an Ac- count With Institution Message A SWIFT MT 103 Customer Transfer Information Flow 59a 50a 52a 54a D 0 0 1 0 0 3 1 Banca Commerciale Italiana, Milan Gian Angelo Imports Naples Banque Nationale de Paris, Paris (Field 58a of MT 202 COV) Sender Receiver Killy S.A. Grenoble Beneficiary Customer * Or its equivalent domestic clearing message Ordering Customer Bank of New York New York (Field 57a of MT 202 COV) Receiver's Correspondent MT 103 Message A Banca Commerciale Italiana, Naples Ordering Institution Banca Commerciale Italiana, New York (Receiver of MT 202 COV) Sender's Correspondent 53a 57a Banque Nationale de Paris, Grenoble Account With Institution (Message B (Message C MT 205 COV*) (Message D MT 910/950) MT 202 COV) MT SWIFT Message, MT 103 Explanation Format Sender BCITITMM Message type 103 Receiver (1) BNPAFRPP Standards MT November 2013 66 Message Reference Guide - MT 103 Single Customer Credit Transfer Explanation Format Message text Sender's reference :20:8861198-0706 Bank operation code :23B:CRED Value date/currency/interbank settled amount :32A:090612USD5443,99 Currency/Instructed amount :33B:USD5443,99 Ordering customer :50F:/14578267890 1/GIAN ANGELO IMPORTS 2/LUNGO MORE 5 3/IT/NAPLES Ordering institution :52A:BCITITMM500 Sender's correspondent (3) :53A:BCITUS33 Receiver's correspondent (4) :54A:IRVTUS3N Account with institution :57A:BNPAFRPPGRE Beneficiary customer :59:/20041010050500001M02606 KILLY S.A. GRENOBLE Remittance information (2) :70:/RFB/INVOICE 559661 Details of charges :71A:SHA End of message text/trailer (1) The message is sent to Banque Nationale de Paris, Paris, the financial institution which will provide the funds to the account with institution. (2) As the reference for the beneficiary can be contained in 16 characters, the code /RFB/ is used, followed by the reference. (3) Banca Commerciale Italiana, New York, will provide the funds to the receiver's correspondent, Bank of New York, New York. (4) Bank of New York, New York, the receiver's correspondent, will receive the funds on behalf of Banque Nationale de Paris, Paris. MT 103 Single Customer Credit Transfer 67 Mapping S R 20 21 32A 57a 58a 50a 52a 57a 59a 70 33B S R 20 21 32A 52a 58a 50a 52a 57a 59a 70 33B MT 202 COV MT 205 COV D 0 0 1 0 0 5 0 S R 20 23B 32A 33B 50a 52a 53a 54a 57a 59a 70 71A MT 103 S R 20 21 25 32A 52a 56a MT 910 Standards MT November 2013 68 Message Reference Guide - MT 103 Single Customer Credit Transfer Message B SWIFT MT 202 COV (Cover Message) Information Flow 57a D 0 0 1 0 0 3 2 Banca Commerciale Italiana New York (Field 53a of MT 103) Banca Commerciale Italiana Milan Bank of New York New York (Field 54a of MT 103) Sender Receiver (Message C MT 205 COV*) (Message A MT 103) (Message D MT 910/950) Message B Beneficiary Institution * Or its equivalent domestic clearing message Banque Nationale de Paris Paris (Receiver of MT 103) Account With Institution MT 202 COV 58a MT SWIFT Message, MT 202 COV Explanation Format Sender BCITITMM Message type 202 Receiver (1) BCITUS33 Validation flag 119:COV Message Text: General Information Transaction reference number :20:597240 Related reference (2) :21:8861198-0706 Value date/currency code/amount :32A:090612USD5443,99 Account with institution (3) :57A:IRVTUS3N Beneficiary institution :58A:BNPAFRPP MT 103 Single Customer Credit Transfer 69 Explanation Format Underlying Customer Credit Transfer Details Ordering customer :50F:/14578267890 1/GIAN ANGELO IMPORTS 2/LUNGO MORE 5 3/IT/NAPLES Ordering institution :52A:BCITITMM500 Account with institution :57A:BNPAFRPPGRE Beneficiary customer :59:/20041010050500001M02606 KILLY S.A. GRENOBLE Remittance information :70:/RFB/INVOICE 559661 Currency/Instructed Amount :33B:USD5443,99 End of message text/trailer (1) The message is sent to Banca Commerciale Italiana, New York, ordering transfer of the funds to Bank of New York, New York. (2) The related reference is the Sender's reference of the initial MT 103. (3) Bank of New York, New York, will pay the funds to Banque Nationale de Paris, Paris. Standards MT November 2013 70 Message Reference Guide - MT 103 Single Customer Credit Transfer Message C SWIFT MT 205 COV (or its equivalent domestic clearing message) Information Flow D 0 0 1 0 0 3 3 Banca Commerciale Italiana New York (Receiver of MT 202 COV) Banca Commerciale Italiana Milan (Sender of MT 202 COV) Bank of New York New York (Field 57a of MT 202 COV) Sender Receiver (Message D MT 910/950) (Message B MT 202 COV) (Message A MT 103) Message C Beneficiary Institution Ordering Institution Banque Nationale de Paris Paris (Field 58a of MT 202 COV) MT 205 COV* 58a 52a MT SWIFT Message, MT 205 COV Explanation Format Sender BCITUS33 Message type 205 Receiver (1) IRVTUS3N Validation flag 119:COV Message Text: General Information Transaction reference number :20:4958302594757 Related reference (2) :21:8861198-0706 Value date/currency code/amount :32A:090612USD5443,99 Ordering institution :52A:BCITITMM Beneficiary institution (3) :58A:BNPAFRPP MT 103 Single Customer Credit Transfer 71 Explanation Format Underlying Customer Credit Transfer Details Ordering customer :50F:/14578267890 1/GIAN ANGELO IMPORTS 2/LUNGO MORE 5 3/IT/NAPLES Ordering institution :52A:BCITITMM500 Account with institution :57A:BNPAFRPPGRE Beneficiary customer :59:/20041010050500001M02606 KILLY S.A. GRENOBLE Remittance information :70:/RFB/INVOICE 559661 Currency/Instructed Amount :33B:USD5443,99 End of message text/trailer (1) The message is sent to Bank of New York, New York. (2) The related reference is the Sender's reference of the initial MT 103. (3) Bank of New York, New York, will pay the funds to Banque Nationale de Paris, Paris. Message D SWIFT Statement/Confirmation of Credit Bank of New York, New York, will credit Banque Nationale de Paris with the funds. The statement line for this credit on the customer statement (MT 950) will appear as: :61:090612C5443,99S9108861198-0706//GH45952-4587 In addition, Bank of New York may send, prior to the statement, a Confirmation of Credit: SWIFT Message, MT910 Explanation Format Sender IRVTUS3N Message type 910 Receiver BNPAFRPP Message text Transaction reference number :20:GH45952-4587 Related reference (1) :21:8861198-0706 Account identification :25:3373733 Value date/currency code/amount :32A:090612USD5443,99 Ordering institution :52A:BCITITMM Intermediary (2) :56A:BCITUS33 End of message text/trailer (1) The related reference is the Sender's reference of the initial MT 103. (2) Banca Commerciale Italiana, New York, is the instructing institution. Standards MT November 2013 72 Message Reference Guide - MT 103 Single Customer Credit Transfer Example 1.6: Customer Transfer with Currency Conversion Narrative Consortia Pension Scheme, a corporate in Zrich requests its bank (BNKACHZZ) to execute a pension payment in Swiss Francs. The beneficiary has his account, 429-5470572-63, with the Belgian corre- spondent of BNKACHZZ. Information Flow 50a D 0 0 1 0 0 3 4 BNKACHZZ Consortia Pension Scheme Zrich BNKBBEBB Johann Willems Brussels Sender Receiver Beneficiary Customer Ordering Customer 59a (MT 950) MT 103 MT SWIFT Message, MT 103 Explanation Format Sender BNKACHZZ Message type 103 Receiver BNKBBEBB Message text Sender's reference :20:5362/MPB Bank operation code :23B:CRED Value date/currency/interbank settled amount :32A:090828EUR1244,47 Currency/Instructed amount :33B:CHF2000, Exchange rate :36:0,619735 MT 103 Single Customer Credit Transfer 73 Explanation Format Ordering customer :50K:/12345789549 CONSORTIA PENSION SCHEME FRIEDRICHSTRASSE, 27 8022-ZURICH Beneficiary customer :59:/429547057263 JOHANN WILLEMS RUE JOSEPH II, 19 1040 BRUSSELS Remittance information :70:PENSION PAYMENT SEPTEMBER 2009 Details of charges :71A:OUR Receiver's charges :71G:EUR5, End of message text/trailer In the statement message sent by BNKBBEBB to its Swiss correspondent, the settlement amount as specified in field 32A and the Sender's reference specified in field 20 will be quoted in the appropriate statement line. For the example given this would result in the following MT 950: SWIFT Message, MT 950 Explanation Format Sender BNKBBEBB Message type 950 Receiver BNKACHZZ Message text Transaction reference number :20:112734 Account identification :25:415370412218 Statement number :28C:102/1 Opening balance :60F:C090827EUR100000, Statement line :61:090828D1244,47S1035362/MPB//1234T Closing balance :62F:C090828EUR98755,53 End of message text/trailer MT 103 Example for the core MT 103, used in a Service Level Agreement Overview of Available Options for Party Fields The available options for the party fields in the MT 103 message differ, depending on the SWIFT Ser- vice Level Agreement indicated in field 23B. The following matrix gives an overview of the options that may be used in the different scenarios. You can find full details under the conditional rules and the field specifications of the respective fields. Payments Service Levels: Field 23B contains SPAY, SSTD or SPRI Other Usage: Field 23B contains CRED or CRTS 52a A D A D Standards MT November 2013 74 Message Reference Guide - MT 103 Single Customer Credit Transfer Payments Service Levels: Field 23B contains SPAY, SSTD or SPRI Other Usage: Field 23B contains CRED or CRTS 53a A B (Account number only) A B D 54a A A B (Branch only) D 55a A A B (Branch only) D 56a Priority Forbidden A C (clearing code) A C (clearing code) D 57a A C D (with mandatory identifier) A B C D In the following examples both the Sender and the Receiver agreed to exchange payment messages under a SWIFT Service Level. The message available for this group of users has the following layout for both the Standard and SWIFTPay Service Level: MT 103 Single Customer Credit Transfer Status Tag Field Name Content/Options No.
M 20 Sender's Reference 16x 1 -----> O 13C Time indication /8c/4!n1!x4!n 2 -----| M 23B Bank Operation Code SSTD or SPAY 3 -----> O 23E Instruction Code 4!c[/30x] 4 -----| O 26T Transaction Type Code 3!a 5 M 32A Value Date/Currency/Interbank Settled Amount 6!n3!a15d 6 O 33B Currency/Instructed Amount 3!a15d 7 O 36 Exchange Rate 12d 8 M 50a Ordering Customer A, F or K 9 O 51A Sending Institution [/1!a][/34x]4!a2!a2!c[3!c] 10 O 52a Ordering Institution A or D 11 MT 103 Single Customer Credit Transfer 75 Status Tag Field Name Content/Options No. O 53a Sender's Correspondent A, B or D 12 O 54a Receiver's Correspondent A, B or D 13 O 55a Third Reimbursement Institution A, B or D 14 O 56a Intermediary Institution A, C or D 15 O 57a Account With Institution A, B, C or D 16 M 59a Beneficiary Customer A or no letter option 17 O 70 Remittance Information 4*35x 18 M 71A Details of Charges 3!a 19 -----> O 71F Sender's Charges 3!a15d 20 -----| O 71G Receiver's Charges 3!a15d 21 O 72 Sender to Receiver Information 6*35x 22 O 77B Regulatory Reporting 3*35x 23 The message has the following layout for the SWIFT Priority Service Level: MT 103 Single Customer Credit Transfer Status Tag Field Name Content/Options No.
M 20 Sender's Reference 16x 1 -----> O 13C Time indication /8c/4!n1!x4!n 2 -----| M 23B Bank Operation Code SPRI 3 -----> O 23E Instruction Code 4!c[/30x] 4 -----| O 26T Transaction Type Code 3!a 5 M 32A Value Date/Currency/Interbank Settled Amount 6!n3!a15d 6 O 33B Currency/Instructed Amount 3!a15d 7 O 36 Exchange Rate 12d 8 M 50a Ordering Customer A, F or K 9 O 51A Sending Institution [/1!a][/34x]4!a2!a2!c[3!c] 10 O 52a Ordering Institution A or D 11 O 53a Sender's Correspondent A, B or D 12 O 54a Receiver's Correspondent A, B or D 13 Standards MT November 2013 76 Message Reference Guide - MT 103 Single Customer Credit Transfer Status Tag Field Name Content/Options No. O 55a Third Reimbursement Institution A, B or D 14 O 57a Account With Institution A, B, C or D 16 M 59a Beneficiary Customer A or no letter option 17 O 70 Remittance Information 4*35x 18 M 71A Details of Charges 3!a 19 -----> O 71F Sender's Charges 3!a15d 20 -----| O 71G Receiver's Charges 3!a15d 21 O 72 Sender to Receiver Information 6*35x 22 O 77B Regulatory Reporting 3*35x 23 Note Field 56a Intermediary Institution is not allowed within the SWIFT Priority Service Level. Example 2.1: Single Customer Credit Transfer With Reimbursement Through Several Institutions Narrative Value August 28, 2009, Franz Holzapfel G.m.b.H. orders Bank Austria, Vienna, to pay US Dollars 1,121.50 to C. Klein, Bloemengracht 15, Amsterdam, whose account number 72 34 91 524 is with ABN Amro Bank, Amsterdam. The beneficiary is to be notified by phone at 20.527.19.60. Bank Austria uses reference 394882. In this example, the MT 103 will be sent to the party closest to the beneficiary, through several reim- bursement institutions. It would also be possible to send the MT 103 to the next party in the transfer. Note The alternative selected is dependent on correspondent relationships and financial practice in the countries involved. SWIFT MT 103 to the Party Closest to the Beneficiary Bank Austria sends the following messages: A. A customer transfer to ABN Amro Bank, Amsterdam. B. A cover message for the US dollar payment, which is provided through Chase Manhattan Bank, New York, to ABN Amro Bank, New York. BKAUATWW agreed on the Standard Service Level, as did its Dutch correspondent ABNANL2A. MT 103 Single Customer Credit Transfer 77 Information Flow 59a 50a 53a D 0 0 1 0 0 3 5 Bank Austria Vienna Franz Holzapfel GmbH Vienna ABN Amro Bank Amsterdam (Field 58a of MT 202 COV) Sender Receiver C. Klein Amsterdam Beneficiary Customer Ordering Customer Chase Manhattan Bank New York (Receiver of MT 202 COV) Sender's Correspondent MT 103 54a ABN Amro Bank New York (Field 57a of MT 202 COV) Receiver's Correspondent (MT 202 COV) (MT 910/950) MT SWIFT Message, MT 103 Explanation Format Sender BKAUATWW Message type 103 Receiver ABNANL2A Message text Sender's reference :20:394882 Bank operation code :23B:SSTD Instruction code :23E:PHOB/20.527.19.60 Value date/currency/interbank settled amount :32A:090828USD1121,50 Currency/Instructed amount :33B:USD1121,50 Standards MT November 2013 78 Message Reference Guide - MT 103 Single Customer Credit Transfer Explanation Format Ordering customer :50F:/9422678901/FRANZ HOLZAPFEL GMBH2/GELB STRASSE, 13 3/AT/VIENNA Sender's correspondent (1) :53A:CHASUS33 Receiver's correspondent (2) :54A:ABNAUS33 Beneficiary customer :59:/723491524 C. KLEIN BLOEMENGRACHT 15 AMSTERDAM Details of charges :71A:SHA End of message text/trailer (1) Field 53A indicates the institution which is to provide the funds to the Receiver on behalf of the Sender. (2) Field 54A is the receiver's correspondent - the institution which will receive the funds on behalf of the Receiver. MT 103 Example for the Extended Remittance Information MUG In the following example Sender and Receiver subscribed to the MT 103 Extended Remittance Informa- tion Message User Group. The message available for this group of users has the following layout: MT 103 Single Customer Credit Transfer in the Extended Remittance Information MUG Status Tag Field Name Content/Options No.
M 20 Sender's Reference 16x 1 -----> O 13C Time indication /8c/4!n1!x4!n 2 -----| M 23B Bank Operation Code 4!a 3 -----> O 23E Instruction Code 4!c[/30x] 4 -----| O 26T Transaction Type Code 3!a 5 M 32A Value Date/Currency/Interbank Settled Amount 6!n3!a15d 6 O 33B Currency/Instructed Amount 3!a15d 7 O 36 Exchange Rate 12d 8 M 50a Ordering Customer A, F or K 9 O 52a Ordering Institution A or D 11 O 53a Sender's Correspondent A, B or D 12 O 54a Receiver's Correspondent A, B or D 13 O 55a Third Reimbursement Institution A, B or D 14 O 56a Intermediary Institution A, C or D 15 MT 103 Single Customer Credit Transfer 79 Status Tag Field Name Content/Options No. O 57a Account With Institution A, B, C or D 16 M 59a Beneficiary Customer A or no letter option 17 O 70 Remittance Information 4*35x 18 M 71A Details of Charges 3!a 19 -----> O 71F Sender's Charges 3!a15d 20 -----| O 71G Receiver's Charges 3!a15d 21 O 72 Sender to Receiver Information 6*35x 22 O 77B Regulatory Reporting 3*35x 23 O 77T Envelope Contents 9000z 24 Example 3.1: Single Customer Credit Transfer Narrative Franz Holzapfel G.m.b.H. orders Bank Austria, Vienna, to pay euro 1,958.47 to ABN Amro Bank, Am- sterdam, for the account of H.F. Janssen, 50 26 64 959. Franz Holzapfel G.m.b.H. does this by using an EDIFACT payment order with remittance advice information. He agreed with H.F. Janssen on the format of this information. Bank Austria, Vienna, and ABN Amro Bank, Amsterdam, agreed on the way they exchange EDIFACT Remittance Information. BKAUATWW subscribed to the MT 103 Extended Remittance Information Message User Group, as did its Dutch correspondent ABNANL2A. Standards MT November 2013 80 Message Reference Guide - MT 103 Single Customer Credit Transfer Information Flow 50a D 0 0 1 0 0 3 6 BKAUATWW Franz Holzapfel GmbH Vienna ABNANCZA H.F. Janssen Amsterdam Sender Receiver Beneficiary Customer Ordering Customer 59a (MT 950) MT 103 MT SWIFT Message, MT 103 Explanation Format Sender BKAUATWW Message type 103 Receiver ABNANL2A Message text Sender's reference :20:494931/DEV Bank operation code :23B:CRED Value date/currency/interbank settled amount :32A:090828EUR1958,47 Currency/Instructed Amount :33B:EUR1958,47 Ordering customer :50F:/9422678901/FRANZ HOLZAPFEL GMBH2/GELB STRASSE, 13 3/AT/VIENNA Beneficiary customer :59:/502664959 H.F. JANSSEN LEDEBOERSTRAAT 27 AMSTERDAM Details of charges :71A:SHA MT 103 Single Customer Credit Transfer 81 Explanation Format Envelope contents :77T:/UEDI/UNH+123A5+FINPAY:D:98A:UN'DOC + ... End of message text/trailer Note No reimbursement party has been indicated in the above message. The direct account re- lationship, in the currency of the transfer, between the Sender and Receiver will be used. Standards MT November 2013 82 Message Reference Guide - MT 103 Single Customer Credit Transfer Legal Notices Copyright SWIFT SCRL 2014. All rights reserved. This material is a component of MyStandards, the SWIFT collaborative Web application used to man- age standards definitions and industry usage. It can only be used and distributed in accordance with MyStandards Terms of Use. Unless otherwise agreed in writing with SWIFT SCRL, you have no right to: - authorise external end users to use this component for other purposes than their internal use. - remove, alter, cover, obfuscate or cancel from view any copyright or other proprietary rights notices appearing in this physical medium. - re-sell or authorise another party e.g. software and service providers, to re-sell this component. Confidentiality This publication may contain SWIFT or third-party confidential information. Only disclose it outside your organisation in accordance with MyStandards Terms of Use and your related license rights. This component is provided 'AS IS'. SWIFT does not give and excludes any express or implied war- ranties with respect to this component such as but not limited to any guarantee as to its quality, supply or availability. Any and all rights, including title, ownership rights, copyright, trademark, patents, and any other intellec- tual property rights of whatever nature in this component will remain the exclusive property of SWIFT or its licensors. Trademarks and Patents SWIFT is the trade name of S.W.I.F.T. SCRL. The following are registered trademarks of SWIFT: SWIFT, the SWIFT logo, 3SKey, Innotribe, Sibos, SWIFTNet, MyStandards, SWIFTReady, and Accord. Other product, service, or company names in this publication are trade names, trademarks, or regis- tered trademarks of their respective owners.