What is field 57A in MT202?

What is field 57A in MT202?

Field description Use this field to identify the financial institution that will credit the final beneficiary (specified in :59a:).

What are the mandatory fields in MT202?

MT202 COV is now mandated for cover payments. MT202 is strictly for bank-to-bank payments. In MT202 COV sequence B, 50a and 59a i.e; ordering customer and beneficiary customer details respectively are made mandatory fields and thus it overcomes the loopholes of MT202.

What is field 50a in MT103?

:50a::Ordering customer Use this field to identify the name and address of the customer (i.e. not a financial institution) that initiated the transaction.

What is field 53a in MT202?

O 53a Sender’s Correspondent A or B Option A with BIC to be used. Account and BIC is allowed. Option B with account number to be used in case of multiple account relationships to identify the account to be debited.

What is Field 50 in a SWIFT message?

Use of field 50a, Ordering Customer Only Field 50a is to be used for ordering customer information. Ordering customer information should not be included in Fields 20, 52a, 70 or 72. If the account number of the ordering customer is present, it must be stated in the account line, preceded by a slash.

What is Field 52 in a SWIFT message?

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 56A in MT103?

Receiver’s Correspondent (Bank) :56A, C or D. Intermediary (Bank) :57A, B, C or D. Account with Institution (Beneficiary’s Bank)

What is the difference between MT103 and MT103 plus?

MT 103 plus is a subset of MT 103. Consequently, the mapping template for MT 103 can also be used for MT 103 plus. Note the following differences between MT 103 and MT 103 plus (as per the November 2006 Standards):

What is Field 50 in a swift message?

What is field 52D in MT103?

What is Field 50k in SWIFT?

What is field 51A in MT103?

51A. Sending Institution. 52A or D. Ordering Institution (payer’s bank)

How do you read MT103?

I’m a Money Mover user – how do I view my MT103? Once your payment has been dispatched, you can retrieve your MT103 by logging into your Money Mover account, selecting your completed payments and clicking ‘View’. Your MT103 will appear at the bottom of the record.

What is field 56A in mt202?

Receiver’s Correspondent (Bank) :56A, C or D. Intermediary (Bank)

What is MT103 50k?

MT103 (Message Type 103) is a Society for Worldwide Interbank Financial Telecommunication (SWIFT) payment message type/format used by financial institutions for customer cash transfers specifically for cross border/international wire transfer.

What is field 53a in MT103?

Use this field to indicate the sender’s correspondent. Use option: A to specify the correspondent’s BIC in the format 4!

What does field 59 indicate in an mt103?

MT103 fields

Field	Field Name
:59 or 59A	Beneficiary
:70	Remittance Information (Payment Reference)
:71A	Details of Charges (BEN / OUR / SHA)
:72	Sender to Receiver Information

What is MT103 56A?

Third Reimbursement Institution (bank) 56A, C or D. Intermediary Institution (bank) 57A, B, C or D. Account With Institution (beneficiary’s bank)

What is Field 56A?

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:).