SWIFT ISO15022 Standard
Detail view for message MT103 - Single Customer Credit Transfer
Description of the message MT103
The MT 103 is a General Use message, that is, no registration in a Message User Group (MUG) is necessary to send and receive this message. 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:
- The MT 103 STP is a general use message, that is, no registration in a MUG is necessary to send and receive this message. It allows for the exchange of single customer credit transfers using a network-validated, restricted set of fields and format options of the MT 103 to make it straight through processable.
- The MT 103 REMIT requires registration in the Extended Remittance Information MUG. This MUG allows its subscribers to exchange MT 103 REMIT messages with an extended amount of remittance information in the additional field 77T Envelope Contents. This remittance information may optionally be exchanged in a non-SWIFT format, such as EDIFACT or ANSI-X12.
Purpose of the message MT103
Instructs a funds transfer
Scope of the message MT103
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.
It is used to convey a funds transfer instruction in which the ordering customer or the beneficiary customer, or both, are non-financial institutions from the perspective of the Sender.
This message may only be used for clean payment instructions. It must not be used to advise the remitting bank of a payment for a clean, for example, cheque, collection, nor to provide the cover for a transaction whose completion was advised separately, for example, via an MT 400.
Structure of the message MT103
Message fields
1
20
Sender's Reference
M
Definition
This field specifies the reference assigned by the Sender to unambiguously identify the message.
Definition
This repetitive field specifies one or several time indication(s) related to the processing of the payment instruction.
Format
| Option C | /8c/4!n1!x4!n | (Code)(Time indication)(Sign)(Time offset) |
3
23B
Bank Operation Code
M
Definition
This field identifies the type of operation.
Definition
This field specifies an instruction.
Format
| Option E | 4!c[/30x] | (Instruction Code)(Additional Information) |
5
26T
Transaction Type Code
O
Definition
This field identifies the nature of, purpose of, and/or reason for the individual transaction, for example, salaries, pensions, dividends.
6
32A
Value Date/Currency/Interbank Settled Amount
M
Definition
This field specifies the value date, the currency and the settlement amount. The settlement amount is the amount to be booked/reconciled at interbank level.
Format
| Option A | 6!n3!a15d | (Date)(Currency)(Amount) |
7
33B
Currency/Instructed Amount
C
Definition
This field specifies the currency and amount of the instruction. This amount is provided for information purposes and has to be transported unchanged through the transaction chain.
Format
| Option B | 3!a15d | (Currency)(Amount) |
Definition
This field specifies the exchange rate used to convert the instructed amount specified in field 33B.
9
50a
A
Ordering Customer
M
Definition
This field specifies the customer ordering the transaction.
Format
| Option A | [/34x]
4!a2!a2!c[3!c] | (Account)
(Identifier Code) |
| Option F | 35x
4*35x | (Party Identifier)
(Name and Address) |
| Option K | [/34x]
4*35x | (Account)
(Name and Address) |
10
51A
Sending Institution
O
Definition
This field identifies the Sender of the message.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
11
52a
A
Ordering Institution
O
Definition
This field specifies the financial institution of the ordering customer, when different from the Sender, even if field 50a contains an IBAN.
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) |
12
53a
A
Sender's Correspondent
C
Definition
Where required, this field specifies the account or branch of the Sender or another financial institution through which the Sender will reimburse the Receiver.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
| Option B | [/1!a][/34x]
[35x] | (Party Identifier)
(Location) |
| Option D | [/1!a][/34x]
4*35x | (Party Identifier)
(Name and Address) |
13
54a
A
Receiver's Correspondent
C
Definition
This field specifies the branch of the Receiver or another financial institution at which the funds will be made available to the Receiver.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
| Option B | [/1!a][/34x]
[35x] | (Party Identifier)
(Location) |
| Option D | [/1!a][/34x]
4*35x | (Party Identifier)
(Name and Address) |
14
55a
A
Third Reimbursement Institution
C
Definition
This field specifies the Receiver's branch, when the funds are made available to this branch through a financial institution other than that indicated in field 53a.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
| Option B | [/1!a][/34x]
[35x] | (Party Identifier)
(Location) |
| Option D | [/1!a][/34x]
4*35x | (Party Identifier)
(Name and Address) |
15
56a
A
Intermediary Institution
C
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 C | /34x | (Party Identifier) |
| Option D | [/1!a][/34x]
4*35x | (Party Identifier)
(Name and Address) |
16
57a
A
Account With Institution
C
Definition
This field specifies the financial institution which services the account for the beneficiary customer. This is applicable even if field 59a contains an IBAN.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
| Option B | [/1!a][/34x]
[35x] | (Party Identifier)
(Location) |
| Option C | /34x | (Party Identifier) |
| Option D | [/1!a][/34x]
4*35x | (Party Identifier)
(Name and Address) |
17
59a
Beneficiary Customer
M
Definition
This field specifies the customer which will be paid.
Format
| No letter option | [/34x]
4*35x | (Account)
(Name and Address) |
| Option A | [/34x]
4!a2!a2!c[3!c] | (Account)
(Identifier Code) |
| Option F | [/34x]
4*(1!n/33x) | (Account)
(Number)(Name and Address Details) |
18
70
Remittance Information
O
Definition
This field specifies either the details of the individual transaction or a reference to another message containing the details which are to be transmitted to the beneficiary customer.
19
71A
Details of Charges
M
Definition
This field specifies which party will bear the charges for the transaction.
20
71F
Sender's Charges
C
Definition
This repetitive field specifies the currency and amount of the transaction charges deducted by the Sender and by previous banks in the transaction chain.
Format
| Option F | 3!a15d | (Currency)(Amount) |
21
71G
Receiver's Charges
C
Definition
This field specifies the currency and amount of the transaction charges due to the Receiver.
Format
| Option G | 3!a15d | (Currency)(Amount) |
22
72
Sender to Receiver Information
O
Definition
This field specifies additional information for the Receiver or other party specified.
Format
| 6*35x | (Narrative Structured Format) |
23
77B
Regulatory Reporting
O
Definition
This field specifies the codes for the statutory and/or regulatory information required by the authorities in the country of Receiver or Sender.
