MT103
MT103 is a SWIFT payment message type/format used for cash transfer specifically for cross border/international wire transfer.
MT103 fields
Below are the fields of an MT103 message. These fields are referred to as tags.
Tag | Name |
---|---|
20 | Transaction reference number |
23B | Bank operation code |
32A | Value date / currency / interbank settled |
33B | Currency / original ordered amount |
50A, F or K | Ordering customer (payer) or address of the remitter. |
52A or D | Ordering institution (payer's bank) |
53A, B or D | Sender's correspondent (bank) |
54A, B or D | Receiver's correspondent (bank) |
56A, C or D | Intermediary (bank) |
57A, B, C or D | Account with institution (beneficiary's bank) |
59 or 59A | Beneficiary 4x35 |
70 | Remittance information |
71A | Details of charges (OUR/SHA/BEN) |
72 | Sender to receiver information |
77B | Regulatory reporting |
In the above table, tags 52, 53, 54, 56, and 57 preferably contain ISO 9362 Business Identifier Codes (BICs), whereas tags 50 and 59 preferably contain an account number or a BIC.
As per SWIFT standards, the account number is to be in IBAN (International Bank Account Number) format or in BBAN format (for domestic payments).[1]
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References
- "SWIFT Message Type Reference". SWIFT Integration Projects. Oracle. Retrieved 2016-04-29.
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