MT 202 General Financial Institution Transfer – Explanation of important fields

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MT 202: (2) Field 21: Related Reference

Format

16x

Presence

Mandatory

Definition

This field contains a reference to the related transaction

Codes

If the Sender is not the originator of the transaction and no related reference is received, the code NONREF must be used in this field.

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 field will contain a reference to the related transaction which is meaningful to the beneficiary institution, for example, the common reference in an MT 300 Foreign Exchange Confirmation, field 21 of an MT 202 General Financial Institution Transfer, an MT 205 Financial Institution Transfer Execution or an MT 400 Advice of Payment.

MT 202: (4) Field 32A: Value Date, Currency Code, Amount

Format

Option A6!n3!a15d(Date)(Currency)(Amount)

Presence

Mandatory

Definition

This field specifies the value date, currency and amount to be transferred.

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).

MT 202: (5) 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 ordering financial institution when other than the Sender of the message.

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 ‘//’:

AT5!nAustrian Bankleitzahl
AU6!nAustralian Bank State Branch (BSB) Code
BL8!nGerman Bankleitzahl
CC9!nCanadian Payments Association Payment Routing Number
CN12..14nChina National Advanced Payment System (CNAPS) Code
ES8..9nSpanish Domestic Interbanking Code
FWwithout 9 digit codePay by Fedwire
GR7!nHEBIC (Hellenic Bank Identification Code)
HK3!nBank Code of Hong Kong
IE6!nIrish National Clearing Code (NSC)
IN11!cIndian Financial System Code (IFSC)
IT10!nItalian Domestic Identification Code
PL8!nPolish National Clearing Code (KNR)
PT8!nPortuguese National Clearing Code
SC6!nUK Domestic Sort Code

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 ‘//’:

AT5!nAustrian Bankleitzahl
AU6!nAustralian Bank State Branch (BSB) Code
BL8!nGerman Bankleitzahl
CC9!nCanadian Payments Association Payment Routing Number
CH6!nCHIPS Universal Identifier
CN12..14nChina National Advanced Payment System (CNAPS) Code
CP4!nCHIPS Participant Identifier
ES8..9nSpanish Domestic Interbanking Code
FW9!nFedwire Routing Number
GR7!nHEBIC (Hellenic Bank Identification Code)
HK3!nBank Code of Hong Kong
IE6!nIrish National Clearing Code (NSC)
IN11!cIndian Financial System Code (IFSC)
IT10!nItalian Domestic Identification Code
PL8!nPolish National Clearing Code (KNR)
PT8!nPortuguese National Clearing Code
RU9!nRussian Central Bank Identification Code
SC6!nUK Domestic Sort Code
SW3..5nSwiss Clearing Code (BC code)
SW6!nSwiss 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 referenced in a FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error code(s): C05).

Usage Rules

When the Sender of an initial MT 202 is also the ordering institution, that is, this field is not used, that Sender will be identified in this field in any subsequent messages as the ordering institution.

This field must be forwarded to the beneficiary institution.

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.

MT 202: (10) Field 58a: Beneficiary 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

Mandatory

Definition

This field specifies the financial institution which has been designated by the ordering institution as the ultimate recipient of the funds being transferred.

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 ‘//’:

AT5!nAustrian Bankleitzahl
AU6!nAustralian Bank State Branch (BSB) Code
BL8!nGerman Bankleitzahl
CC9!nCanadian Payments Association Payment Routing Number
CN12..14nChina National Advanced Payment System (CNAPS) Code
ES8..9nSpanish Domestic Interbanking Code
FWwithout 9 digit codePay by Fedwire
GR7!nHEBIC (Hellenic Bank Identification Code)
HK3!nBank Code of Hong Kong
IE6!nIrish National Clearing Code (NSC)
IN11!cIndian Financial System Code (IFSC)
IT10!nItalian Domestic Identification Code
PL8!nPolish National Clearing Code (KNR)
PT8!nPortuguese National Clearing Code
RT Pay by Real Time Gross Settlement
SC6!nUK Domestic Sort Code
ZA6!nSouth African National Clearing Code

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 ‘//’:

AT5!nAustrian Bankleitzahl
AU6!nAustralian Bank State Branch (BSB) Code
BL8!nGerman Bankleitzahl
CC9!nCanadian Payments Association Payment Routing Number
CH6!nCHIPS Universal Identifier
CN12..14nChina National Advanced Payment System (CNAPS) Code
CP4!nCHIPS Participant Identifier
ES8..9nSpanish Domestic Interbanking Code
FW9!nFedwire Routing Number
GR7!nHEBIC (Hellenic Bank Identification Code)
HK3!nBank Code of Hong Kong
IE6!nIrish National Clearing Code (NSC)
IN11!cIndian Financial System Code (IFSC)
IT10!nItalian Domestic Identification Code
PL8!nPolish National Clearing Code (KNR)
PT8!nPortuguese National Clearing Code
RT Pay by Real Time Gross Settlement
RU9!nRussian Central Bank Identification Code
SC6!nUK Domestic Sort Code
SW3..5nSwiss Clearing Code (BC code)
SW6!nSwiss Clearing Code (SIC code)
ZA6!nSouth 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 referenced in a FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error code(s): C05).

Usage Rules

When the Sender instructs the Receiver to either credit one of several accounts owned by the Sender at an institution specified in field 57a, or transfer funds between two accounts owned by the Sender and serviced by the Receiver, option A must be used to specify the account to be credited and the name of the Sender.

It is strongly recommended that when clearing payments take precedence over book transfer and book transfer is requested, Party Identifier be used to specify the account of the beneficiary.

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, 57a and 58a 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.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross settlement (RTGS), the code //RT should appear in the optional Party Identifier.

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 D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial 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 automated processing of the instruction(s) by the Receiver.