What is field 52a in MT103?
:52a::Ordering institution Use this field to identify the financial institution that initiated the transaction.
What is field 52D in MT103?
The ordering institution (Tag 52D) is provided in the MT103 SWIFT Message. This means the ordering customer is not customer of the Sender.
What is field 57a in MT103?
Field description Use this field to identify the financial institution that will credit the final beneficiary (specified in :59a:).
What is 57a in SWIFT?
What is Field 57a: Advise Through Bank? Field 57a: ‘Advise Through’ Bank is a field in MT 700 swift message type that identifies the bank, if different from the Receiver, through which the documentary credit is to be advised/confirmed to the beneficiary.
What is field 53A in MT103?
Ordering Institution (payer’s bank) 53A, B or D. Sender’s Correspondent (bank) 54A, B or D. Receiver’s Correspondent (bank)
What is Field 53A?
DEFINITION. This field specifies the name of the bank which has been authorised by the Sender to reimburse drawings under the documentary credit. This may be a branch of the Sender or the Receiver, or an entirely different bank.
What is 23E in MT103?
Rules on using instruction codes in field 23E Code REPA indicates that the payment is the result of an initiation performed via an e-payments product between the customers. This code is intended for the beneficiary’s bank who should act according to the specifications of the e-payments product.
What is 41A in LC?
41A – This is mentioned where the nominated bank is identified by BIC (Bank Identified Code) AKA Swift code. In the above example, the nominated bank SWIFT code is mentioned. That means the beneficiary has to submit the documents in that bank to get the payment.
What is 71A in SWIFT?
When making a SWIFT international transfer, field 71A on the form provided by your bank asks who will pay the transfer fees. You should always select “OUR” to avoid banks deducting additional fees for your transfer after completing your payment.
What is field 53a in MT103?
What is 53a SWIFT message?
What is 53a: Reimbursing Bank? Field 53a: Reimbursing Bank is a field in MT 700 swift message type that specify the name of the bank which has been authorized by the Sender to reimburse drawings under the documentary credit. This may be a branch of the Sender or the Receiver, or an entirely different bank.
What is field 23B?
Field 23B: Bank Operation Code CRED This message contains a credit transfer where there is no SWIFT Service Level involved. CRTS This message contains a credit transfer for test purposes. SPAY This message contains a credit transfer to be processed according to the SWIFTPay Service Level.
Which Mt 103 fields can be used?
It allows the exchange of single customer credit transfers using all MT 103 fields, except field 77T (Envelope Contents). The MT 103 can be straight through processable if the message is properly formatted according to pre-agreed bilateral/multilateral rules. Two variants of the MT 103 exist and these are documented separately:
What are the fields of an MT103 message?
Below are the fields of an MT103 message. These fields are referred to as tags . Ordering customer (payer) or address of the remitter. 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.
How is the MT103 text block mapped to the ISF record?
The MT 103 single customer credit transfer text block is mapped to the ISF record as shown in the following table. Table 1. CHAPS MT103 text block The source field is a string with a maximum length of 35 characters. Extract the first 16 characters from the value in the source field and map it to the target field.
How many variants of the Mt 103 STP are there?
Two variants of the MT 103 exist and these are documented separately: The MT 103 STP is a general use message, that is, no registration in a MUG is necessary to send and receive this message.