What is field 53A in MT103?

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 FIN 103 single credit transfer?

2 MT 103 Single Customer Credit Transfer. This message type is sent by or on behalf of the financial institution of the ordering customer, directly or through (a) correspondent(s), to the financial institution of the beneficiary customer.

What is Field 56 in a swift message?

Field description Use this field to identify the financial institution acting as intermediary between Euroclear Bank and the final beneficiary’s financial institution (specified in :57a:).

What is field 71G in MT103?

:71G::Receiver’s charges Use this 18-character field to specify the currency and amount of the charges to be paid by the receiver.

What is field 53B in SWIFT?

Field 53B indicates the account number of the Sender, serviced by the Receiver, which is to be used for reimbursement in the transfer.

What is MT102 and MT103?

What is the Difference Between a MT101, MT102 and MT103? MT101 has been designed for corporates and allows for bulk payments. MT102 has been designed for multi payment instructions between banks and financial institutions. MT103 has been designed for a single customer credit transfer.

What is a MT103 202?

MT 103 is a single direct payment. MT 202 is an interbank order from a Corresponding bank(s) that confirms the issuing banks obligation to Fulfill the beneficiary or Receiving bank.

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 MT202 and MT103?

MT103 is the direct payment order to the beneficiary’s bank that results in the beneficiary’s account being credited a specific funding amount. The MT202 COV is the bank-to-bank order that instructs funds movement in alignment with the MT103 messages.

What is field 57a in MT103?

Under the usage rules of Field 57a: Account With Institution, you read the following:”When field 57a is not present, it means that the Receiver is also the account with institution.” So if you send the payment directly to the receiver that is also the Account With Institution, no need to mention the field 57.

What is MT103 field 53B?