MT 103 Single Customer Credit Transfer – Explanation for some important fields

Spread the love

MT 103: (1) Field 20: Sender’s Reference

Format

16x

Presence

Mandatory

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 unchanged in field 21 of the related MT 202 COV.

Example

:20:Ref254

MT 103: (3) Field 23B: Bank Operation Code

Format

Option B4!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):

CREDNormal credit transferThis message contains a credit transfer where there is no SWIFT Service Level involved.
CRTSTest messageThis message contains a credit transfer for test purposes.
SPAYSWIFTPayThis message contains a credit transfer to be processed according to the SWIFTPay Service Level.
SPRIPriorityThis message contains a credit transfer to be processed according to the Priority Service Level.
SSTDStandardThis 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.

Example

:23B:CRED

MT 103: (6) Field 32A: Value Date/Currency/Interbank Settled Amount

Format

Option A6!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 included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the specified currency (Error code(s): C03, T40, T43).

The codes XAU, XAG, XPD and XPT are not allowed, as these are codes for commodities for which the category 6 commodities messages must be used (Error code(s): C08).

Example

:32A:981209USD1000,00

MT 103: (9) Field 50a: Ordering Customer

Format

Option A[/34x]
4!a2!a2!c[3!c]
(Account)
(Identifier Code)
Option F35x
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 (subfield Name and Address)1!n/33x(Number)(Details)

Or

Line 1 (subfield Party Identifier)4!a/2!a/27x(Code)(Country Code)(Identifier)
Lines 2-5 (subfield Name and Address)1!n/33x(Number)(Details)

Presence

Mandatory

Definition

This field specifies the customer ordering the transaction.

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).
  • The first occurrence of number 3 must be followed by a valid ISO country code (Error code(s): T73).
  • 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 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 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 Address) following number 7.

Usage Rules

If the account number of the ordering customer is known, it must be stated in Account.

In option F, subfield 2 (Name and Address): Numbers 1, 2 and 3 may be repeated.

In option F, subfield 2 (Name and Address): if number 2 is present, the first occurrence of number 3 must include the town in additional details.

In option F, subfield 1 (Party Identifier) used with the (Code)(Country Code)(Identifier) format: if additional 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.

Example

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

MT 103: (17) Field 59a: Beneficiary Customer

Format

No letter option[/34x]
4*35x
(Account)
(Name and Address)
Option A[/34x]
4!a2!a2!c[3!c]
(Account)
(Identifier Code)
Option F[/34x]
4*(1!n/33x)
(Account)
(Number)(Name and Address Details)

Presence

Mandatory

Definition

This field specifies the customer which will be paid.

Codes

In option F, Number must contain one of the following values (Error code(s): T56):

1Name of the Beneficiary CustomerThe number followed by a slash, ‘/’ must be followed by the name of the beneficiary customer.
2Address LineThe 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, building name or post office box number).
3Country and TownThe first occurrence of number 3 must be followed by a slash, ‘/’, the ISO country code and, optionally, additional details that are preceded by a slash ‘/’.Other occurrence(s) of number 3 must be followed by a slash ‘/’ and the continuation of additional details.Additional details can contain town, which can be complemented by postal code (for example zip) and country subdivision (for example, state, province, or county). The country code and town should, preferably, indicate the country and town of residence, as provided by the ordering customer.

Codes

Account may contain one of the following codes, preceded by a double slash ‘//’:

CH6!nCHIPS Universal Identifier

Network Validated Rules

Identifier Code must be a registered BIC (Error code(s): T27, T28, T29, T45).

In option F, for subfields (Number)(Name and Address Details):

  • 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).
  • The first occurrence of number 3 must be followed by a valid ISO country code (Error code(s): T73).

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 services the account for the beneficiary customer.

If the account number of the beneficiary customer is known, it must be stated in Account.

In option F:

  • line numbers may be repeated
  • if number 2 is present, the first occurrence of number 3 must include the town in the additional details

Example

No letter option

:59:/BE62510007547061

JOHANN WILLEMS

RUE JOSEPH II, 19

1040 BRUSSELS

Option F – Example 1

:59F:/BE30001216371411

1/MARK PHILIPS

2/HOOGSTRAAT 6, APT 6C

3/BE/BRUSSELS

Option F – Example 2

:59F:/12345678

1/DEPT OF PROMOTION OF SPICY FISH

1/CENTER FOR INTERNATIONALISATION

1/OF COMMERCE AND BUSINESS

3/CN

Option F – Example 3

:59F:1/JOHN SIMONS

2/3658 WITMER ROAD

3/US/POUGHKEEPSIE, NEW YORK 12602

3/DUTCHESS