If you are interested in the sample SWIFT MT103 message with optional fields sent to SWIFT by the Sender (Credit Suisse) and received from SWIFT by the receiver (BNP PARIBAS), fill in the form below and submit. This ends our analysis of SWIFT MT103 message example with optional fields. The Beneficiary’s account is credited with the instructed amount. The receiving bank directly takes the prepaid charges from the settlement amount. Sender sends instructed amount + charges.Īmount in F32A (EUR2960,47) = Amount in 33B (EUR2958,47) + charges in 71G (EUR2,50) That means transaction charges are to be borne by the ordering customer. Narrative and note 5ĭetails of charges (Tag 71A) is OUR. The code INV means that 18042-090715 is an invoice reference. The beneficiary requests the debtor to provide it the payment message, so that the beneficiary can easily reconcile the payment with an invoice like in this case. Usually the remittance information is generated by the beneficiary and sent to the ordering customer (or debtor). So just come back to the blog and check the new articles. You will get a better understanding with the next examples. You may wonder: what does the guy mean? This part is really not easy to understand when you start. Beneficiary customer account (:59:/00012367493) is hold by the receiver.Money will be taken from sender’s account and credited to the beneficiary. there is a direct account relationship, in the currency of the transfer, between the Sender and the Receiver.No correspondent is used neither on sender side (Tag 53A) nor on receiver side (Tag 54A) and No reimbursement party (Tags 56a and 57a) is indicated in the SWIFT MT103 message. That means implicitly that the ordering customer is customer of the Sender. There is no ordering institution (Tag 52a) in the SWIFT MT103 message. If the Field 53B contains an account that is not the currency of the transfer, an exception will be raised and the payment processing will stop or it can be automatically replaced with the correct account. Note that the sender has opened many accounts with the receiver in EUR, the currency of the transfer. Field 53B (:53B:/12345678901) indicates the account number of the Sender, serviced by the Receiver, which is to be used for reimbursement in the transfer. The sender’s account that receiver should debit is specified in the field 53B. With this SWIFT MT103 message, sender ( CRESCHZZ80A) is asking receiver ( BNPAFRPP) to debit sender’s account and credit beneficiary account. The following narrative and notes allow to get a deeper understanding of the message content. Narratives and notes on this SWIFT MT103 MessageĪs usual, there is more in this SWIFT MT103 message example with optional fields than meets the eye. It is helpful to understand what 16x, 4!c and the format of the fields options mean. I refer you to this page on the Field formatting rules and Character sets of SWIFT MT Messages. Since 71A is OUR, 71G contains amount of the charges due, which have been prepaid and included in the interbank settlement amount. OUR means charges are to be borne by the ordering customer. If available, it is provided in format 4*35x : Up to 4 lines of up to 35 X characters each. No letter option is chosen in this case with format: In practice, the account number is almost always provided.īeneficiary customer information is mandatory and can be provided in three different formats: No letter option, Option A and Option F. Option K is chosen in this case with format:įield 53B indicates the account number of the Sender, serviced by the Receiver, which is to be used for reimbursement in the transfer. Ordering customer information is mandatory and can be provided in three different formats according to the options A, F and K. See Rule C2 in the Network Validated Rules. It must be provided because country code of Sender is CH and country code of receiver is FR. Value date/currency/interbank settled amount Note that / belongs to the allowed charaters. All the fields below are in the text block of the MT103 message. This introduces the Text block (block 4). This reference is provided in the user block (Block 3) and transported end-to-end. The Receiver BIC appears in header block (Block 1) in the MT103 Output and in the application block (Block 2) in the MT103 Input. The message type is the second field of the block 2. The Sender BIC appears in header block (Block 1) in the MT103 Input and in the application block (Block 2) in the MT103 Output.
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