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MT103 is a SWIFT payment message type/format used for cash transfer specifically for cross border/international wire transfer.

Specification of SWIFT MT[edit]

SWIFT messages consist of five blocks of the data including three headers, message content, and a trailer. Message types are crucial to identifying content.

Below are different SWIFT message types

Message type Description
MT0xx System messages
MT1xx Customer payments and cheques
MT2xx Financial institution transfers
MT3xx Treasury markets
MT4xx Collection and cash letters
MT5xx Securities markets
MT6xx Treasury markets – metals and syndications
MT7xx Documentary credits and guarantees
MT8xx Travelers cheques
MT9xx Cash management and customer status

All SWIFT messages include the literal "MT" (Message Type). This is followed by a three-digit number that denotes the message category, group and type. Consider the example MT103:

The first digit (1) represents the category. A category denotes messages that relate to particular financial instruments or services such as cash transfer (1), treasury (3), or cash management (9). The category denoted by 1 is cash transfer.

The second digit (0) represents a group of related parts in a transaction life cycle. The group indicated by 0 is a financial institution transfer.

The third digit (3) is the type that denotes the specific message. There are several hundred message types across the categories. The type represented by 3 is a notification.[1]

MT103 fields[edit]

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)
59 or 59A Beneficiary
57A, B, C or D Account with institution (beneficiary's bank)
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).[2]


  1. ^ "Standards document centre". SWIFT. 2015-08-25. Retrieved 2016-04-29.
  2. ^ "SWIFT Message Type Reference". SWIFT Integration Projects. Oracle. Retrieved 2016-04-29.