SWIFT ISO15022 Standard
Detail view for message MT207 - Request For Financial Institution Transfer
Purpose of the message MT207
Requests to debit an ordering financial institution's account held at the receiving financial institution or the account servicing financial institution
Scope of the message MT207
This message is used to move funds from the ordering financial institution's account, serviced at the receiving financial institution or at the account servicing institution, or from an account(s) owned by the ordering institution for which the initiating institution has explicit authority to debit, for example, a subsidiary account.
It can be used to order the movement of funds:
- between the ordering institution's accounts, or
- in favour of a third party, either domestically or internationally.
The message is sent by a financial institution on behalf of the ordering financial institution, that is, the account owning financial institution, or on behalf of the initiating financial institution. It is subsequently received by a financial institution and processed by this receiving financial institution or another account servicing financial institution. All parties identified in the message must be financial institutions.
Structure of the message MT207
1
20
Transaction Reference Number
M
Definition
This field specifies the reference assigned by the Sender to unambiguously identify the message.
2
21R
Specified Reference of the Ordering Institution
O
Definition
This field specifies the reference to the entire message assigned by either the:
- initiating institution, when present or
- ordering institution, when the initiating institution is not present.
3
28D
Message Index/Total
M
Definition
This field chains different messages by specifying the sequence number in the total number of messages.
Format
| Option D | 5n/5n | (Message Index)(Total) |
4
30
Requested Execution Date
M
Definition
This field specifies the date on which all subsequent transactions should be initiated by the executing bank.
5
51A
Initiating Institution
O
Definition
This field identifies the institution which is authorised by the ordering institution/account servicing institution to order all the transactions in the message.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
6
52G
Ordering Institution
M
Definition
This field identifies the account owning financial institution whose account is to be debited with all transactions in sequence(s) B.
Format
| Option G | /34x
4!a2!a2!c[3!c] | (Account)
(Identifier Code) |
7
52a
A
Ordering Institution
O
Definition
This field specifies the account servicing financial institution - when other than the Receiver - which services the account of the ordering financial institution to be debited.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
| Option C | /34x | (Party Identifier) |
8
72
Sender to Receiver Information
O
Definition
This field specifies additional information for the Receiver, that is, Sender of the original message regarding the reason for a return, that is, reversal, rejection or revocal.
Format
| 6*35x | (Narrative Structured Format) |
9
21
Transaction Reference
M
Definition
This field specifies the unambiguous reference for the individual transaction contained in a particular occurrence of sequence B.
10
23E
Instruction Code
O
Definition
This field specifies instructions for the subsequent parties in the transaction chain.
Format
| Option E | 4!c[/30x] | (Instruction Code)(Additional Information) |
11
32B
Currency/Transaction Amount
M
Definition
This field specifies the currency and amount of the subsequent transfer to be executed by the Receiver.
Format
| Option B | 3!a15d | (Currency)(Amount) |
12
56a
A
Intermediary Institution
O
Definition
This field specifies the financial institution through which the transaction must pass to reach the account with institution.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
| Option D | [/1!a][/34x]
4*35x | (Party Identifier)
(Name and Address) |
13
57a
A
Account With Institution
C
Definition
This field specifies the financial institution - when other than the Receiver - which services the account for the beneficiary institution.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
| Option C | /34x | (Party Identifier) |
| Option D | [/1!a][/34x]
4*35x | (Party Identifier)
(Name and Address) |
14
58a
A
Beneficiary Institution
M
Definition
This field specifies the beneficiary financial institution of the subsequent operation from the particular occurrence of sequence B.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
| Option D | [/1!a][/34x]
4*35x | (Party Identifier)
(Name and Address) |
