SWIFT Money Transfer
MT103 (Message Type 103) is a specific SWIFT message type/format used on the Society for Worldwide Interbank Financial Telecommunication (SWIFT) payment system to send for cross border/international wire transfer messages between financial institutions for customer cash transfers.
MT103 fields
Below are the fields of an MT103 message. These fields are referred to as tags.
| Tag | Name |
|---|---|
| 20 | Transaction reference number (sender's reference) |
| 13C | Time Indication |
| 23B | Bank operation code |
| 23E | Instruction Code |
| 26T | Transaction Type Code |
| 32A | Value date / currency / interbank settled amount |
| 33B | Currency / original instructed amount |
| 36 | Exchange Rate |
| 50A, F or K | Ordering customer (payer) or address of the remitter. |
| 51A | Sending Institution |
| 52A or D | Ordering Institution (payer's bank) |
| 53A, B or D | Sender's Correspondent (bank) |
| 54A, B or D | Receiver's Correspondent (bank) |
| 55A, B or D | Third Reimbursement Institution (bank) |
| 56A, C or D | Intermediary Institution (bank) |
| 57A, B, C or D | Account With Institution (beneficiary's bank) |
| 59 or 59A | Beneficiary Customer 4x35 |
| 70 | Remittance Information |
| 71A | Details of charges (OUR/SHA/BEN) |
| 71F | Sender's Charges |
| 71G | Receiver's Charges |
| 72 | Sender to receiver information |
| 77B | Regulatory reporting |
In the above table, tags 52, 53, 54, 55, 56, and 57 preferably contain ISO 9362 Business Identifier Codes (BICs), whereas tags 50 and 59 preferably contain an account number or a BIC(Business Identifier Codes).
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]
References
- ^ "SWIFT Message Type Reference". SWIFT Integration Projects. Oracle. Retrieved 2016-04-29.