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MT 103 Examples

MT 103 Examples for the MT 103, used outside any Service Level Agreements

Example 1.1: Single Customer Credit Transfer with Direct Account Relationship

Narrative

Biodata G.m.b.H. orders UBS, Zürich, to pay euro 1,958.47 to ABN Amro Bank, Amsterdam, for the account of H.F. Janssen.

Information Flow

D0010020

SWIFT Message

Explanation Format
Sender UBSWCHZH80A
Message type 103
Receiver ABNANL2A
Message text
Sender's reference :20:494931/DEV
Bank operation code :23B:CRED
Value date/currency/interbank settled amount :32A:090828EUR1958,47
Currency/Instructed Amount :33B:EUR1958,47
Ordering customer :50K:/122267890
BIODATA GMBH
HOCHSTRASSE, 27
8022-ZURICH
SWITZERLAND
Beneficiary customer :59:/502664959
H.F. JANSSEN LEDEBOERSTRAAT 27
AMSTERDAM
Details of charges :71A:SHA
End of message text/trailer
Note:  No reimbursement party has been indicated in the above message. The direct account relationship, in the currency of the transfer, between the Sender and the Receiver will be used.

Example 1.2: Single Customer Credit Transfer Specifying Account for Reimbursement

Narrative

Biodata G.m.b.H. orders UBS, Zürich, to pay euro 1,958.47 to ABN Amro Bank, Amsterdam, for the account of H.F. Janssen, in payment of invoice number 18042 dated 15 July 2009.

As there is more than one account relationship in the currency of the transfer between the Sender and Receiver, UBS, Zürich specifies that account number 21 94 29 055 should be used for reimbursement.

UBS, Zürich, knows that ABN Amro Bank, Amsterdam, will charge euro 2.50 to execute this transaction.

Information Flow

D0010021

SWIFT Message

Explanation Format
Sender UBSWCHZH80A
Message type 103
Receiver ABNANL2A
Message text
Sender's reference :20:494932/DEV
Bank operation code :23B:CRED
Value date/currency/interbank settled amount :32A:090828EUR1960,97
Currency/Instructed amount :33B:EUR1958,47
Ordering customer :50K:/122267890
BIODATA GMBH
HOCHSTRASSE, 27
8022-ZURICH
SWITZERLAND
Sender's correspondent  (1)  :53B:/219429055
Beneficiary customer :59:/502664959
H.F. JANSSEN LEDEBOERSTRAAT 27
AMSTERDAM
Remittance information  (2)  :70:/INV/18042-090715
Details of charges :71A:OUR
Receiver's charges :71G:EUR2,50
End of message text/trailer

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

(2)  As the Reference for the beneficiary is an invoice number, the code /INV/ is used, followed by the invoice number.

Example 1.3: Single Customer Credit Transfer with Ordering and Account With Institutions

Narrative

Franz Holzapfel G.m.b.H. orders Finanzbank AG, Eisenstadt, to pay, value 28 August 2009, US Dollars 850 into C. Won's account number 729615-941 with Oversea-Chinese Banking Cooperation, Singapore. The payment is for July 2009 expenses.

Finanzbank AG, Eisenstadt, asks Bank Austria, Vienna, to make the payment. Both Bank Austria, Vienna, and Oversea-Chinese Banking Cooperation, Singapore, have their US dollars account at Citibank's New York office.

Both customers agree to share the charges. Citibank charges US Dollars 10.

Information Flow

D0010022

First SWIFT Message, MT 103

Explanation Format
Sender BKAUATWW
Message type 103
Receiver CITIUS33
Message text
Sender's reference :20:494938/DEV
Bank operation code :23B:CRED
Value date/currency/interbank settled amount :32A:090828USD850,
Ordering customer :50F:/942267890
1/FRANZ HOLZAPFEL GMBH
2/GELBSTRASSE, 13
3/AT/VIENNA
Ordering institution :52D:FINANZBANK AG
EISENSTADT
Account with institution :57A:OCBCSGSG
Beneficiary customer

:59F:/729615-941
1/C.WON
2/PARK AVENUE 1
3/SG

:59:/729615-941
C.WON
PARK AVENUE 1
SINGAPORE

Remittance information :70:JULY 2009 EXPENSES
Details of charges :71A:SHA
End of message text/trailer

Mapping

The following illustrates the mapping of the first MT 103 onto the next MT 103:

D0010046

Second SWIFT Message, MT 103

Explanation Format
Sender CITIUS33
Message type 103
Receiver OCBCSGSG
Message text
Sender's reference :20:494938/DEV
Bank operation code :23B:CRED
Value date/currency/interbank settled amount :32A:090828USD840,
Currency/Instructed amount :33B:USD850,
Ordering customer :50F:/942267890
1/FRANZ HOLZAPFEL GMBH
2/GELBSTRASSE, 13
3/AT/VIENNA
Ordering institution :52D:FINANZBANK AG
EISENSTADT
Beneficiary customer

:59F:/729615-941
1/C.WON
2/PARK AVENUE 1
3/SG

:59:/729615-941
C.WON
PARK AVENUE 1
SINGAPORE

Remittance information :70:JULY 2009 EXPENSES
Details of charges :71A:SHA
Sender's charges :71F:USD10,
Sender to receiver information :72:/INS/BKAUATWW
End of message text/trailer

Example 1.4: Single Customer Credit Transfer with Reimbursement Through Two Institutions

Narrative

Value August 28, 2009, Franz Holzapfel G.m.b.H. orders Bank Austria, Vienna, to pay US Dollars 1,121.50 to C. Klein, Bloemengracht 15, Amsterdam, whose account number 72 34 91 524 is with ABN Amro Bank, Amsterdam. The beneficiary is to be notified by phone at 20.527.19.60.

Bank Austria uses reference 394882.

This transfer may be sent via SWIFT using one of the following methods:

  1. Sent to the party closest to the beneficiary, through several reimbursement institutions

  2. Sent to the next party in the transfer.

Note:  The alternative selected is dependent on correspondent relationships and financial practice in the countries involved.
Method 1 SWIFT MT 103 to the Party Closest to the Beneficiary

Bank Austria sends the following messages:

  1. A customer transfer to ABN Amro Bank, Amsterdam.

  2. A cover message for the US dollar payment, which is provided through Chase Manhattan Bank, New York, to ABN Amro Bank, New York.

Message A SWIFT MT 103 Single Customer Credit Transfer

Information Flow

D0010023

SWIFT Message, MT 103

Explanation Format
Sender BKAUATWW
Message type 103
Receiver ABNANL2A
Message text
Sender's reference :20:394882
Bank operation code :23B:CRED
Instruction code :23E:PHOB/20.527.19.60
Value date/currency/interbank settled amount :32A:090828USD1121,50
Currency/Instructed amount :33B:USD1121,50
Ordering customer :50F:/942267890
1/FRANZ HOLZAPFEL GMBH
2/GELBSTRASSE, 13
3/AT/VIENNA
Sender's correspondent  (1)  :53A:CHASUS33
Receiver's correspondent  (2)  :54A:ABNAUS33
Beneficiary customer

:59F:/723491524
1/C. KLEIN
2/BLOEMENGRACHT 15
3/NL/AMSTERDAM

:59:/723491524
C. KLEIN
BLOEMENGRACHT 15
AMSTERDAM

Details of charges :71A:SHA
End of message text/trailer

(1)  Field 53A indicates the institution which is to provide the funds to the Receiver on behalf of the Sender.

(2)  Field 54A is the receiver's correspondent - the institution which will receive the funds on behalf of the Receiver.

Mapping

D0010047

Message B SWIFT MT 202 COV (Cover message)

Information Flow

D0010024

SWIFT Message, MT 202 COV

Explanation Format
Sender BKAUATWW
Message type 202
Receiver CHASUS33
Validation flag 119:COV
Message Text: General Information
Transaction reference number :20:203998988
Related reference  (1)  :21:394882
Value date/currency code/amount :32A:090828USD1121,50
Account with institution :57A:ABNAUS33
Beneficiary institution :58A:ABNANL2A
Underlying Customer Credit Transfer Details
Ordering customer :50F:/942267890
1/FRANZ HOLZAPFEL GMBH
2/GELBSTRASSE, 13
3/AT/VIENNA
Beneficiary customer

:59F:/723491524
1/C. KLEIN
2/BLOEMENGRACHT 15
3/NL/AMSTERDAM

:59:/723491524
C. KLEIN
BLOEMENGRACHT 15
AMSTERDAM

Currency/Instructed amount :33B:USD1121,50
End of message text/trailer

(1)  The related reference is the Sender's reference of the Single Customer Credit Transfer.

Method 2 SWIFT MT 103 to the Next Party in the Transaction
Message A SWIFT MT 103 Single Customer Credit Transfer

Information Flow

D0010025

SWIFT Message, MT 103

Explanation Format
Sender BKAUATWW
Message type 103
Receiver CHASUS33
Message text
Sender's reference :20:394882
Bank operation code :23B:CRED
Instruction code :23E:PHOB/20.527.19.60
Value date/currency/interbank settled amount :32A:090828USD1121,50
Ordering customer :50F:/942267890
1/FRANZ HOLZAPFEL GMBH
2/GELBSTRASSE, 13
3/AT/VIENNA
Intermediary institution  (1)  :56A:ABNAUS33
Account with institution  (2)  :57A:ABNANL2A
Beneficiary customer

:59F:/723491524
1/C. KLEIN
2/BLOEMENGRACHT 15
3/NL/AMSTERDAM

:59:/723491524
C. KLEIN
BLOEMENGRACHT 15
AMSTERDAM

Details of charges :71A:SHA
End of message text/trailer

(1)  The intermediary institution, ABN Amro Bank, New York, will receive the funds from the Receiver of this message, Chase Manhattan Bank, New York.

(2)  ABN Amro Bank, Amsterdam, will receive the funds from the intermediary institution, its New York office, for credit to the beneficiary's account.

Mapping

D0010060

Message B 2nd SWIFT MT 103 (or its equivalent domestic clearing message)

Information Flow

D0010026

SWIFT Message, MT 103

Explanation Format
Sender CHASUS33
Message type 103
Receiver ABNAUS33
Message text
Sender's reference :20:52285724
Bank operation code :23B:CRED
Instruction code :23E:PHOB/20.527.19.60
Value date/currency/interbank settled amount :32A:090828USD1111,50
Currency/Instructed amount :33B:USD1121,50
Ordering customer :50F:/942267890
1/FRANZ HOLZAPFEL GMBH
2/GELBSTRASSE, 13
3/AT/VIENNA
Ordering institution  (1)  :52A:BKAUATWW
Account with institution  (2)  :57A:ABNANL2A
Beneficiary customer :59F:/723491524
1/C. KLEIN
2/BLOEMENGRACHT 15
3/NL/AMSTERDAM :59:/723491524
C. KLEIN
BLOEMENGRACHT 15
AMSTERDAM
Details of charges :71A:SHA
Sender's charges :71F:USD10,
End of message text/trailer

(1)  The Sender of the initial MT 103 is Bank Austria, Vienna, which is the ordering institution in all subsequent messages.

(2)  ABN Amro Bank, Amsterdam, will receive the funds from the Receiver of this message, its New York office, for credit to the beneficiary's account.

Message C 3rd SWIFT MT 103

Information Flow

D0010051

SWIFT Message, MT 103

Explanation Format
Sender ABNAUS33
Message type 103
Receiver ABNANL2A
Message text
Sender's reference :20:5387354
Bank operation code :23B:CRED
Instruction code :23E:PHOB/20.527.19.60
Value date/currency/interbank settled amount :32A:090828USD1101,50
Currency/Instructed amount :33B:USD1121,50
Ordering customer :50F:/942267890
1/FRANZ HOLZAPFEL GMBH
2/GELBSTRASSE, 13
3/AT/VIENNA
Ordering institution  (1)  :52A:BKAUATWW
Beneficiary customer

:59F:/723491524
1/C. KLEIN
2/BLOEMENGRACHT 15
3/NL/AMSTERDAM

:59:/723491524
C. KLEIN
BLOEMENGRACHT 15
AMSTERDAM

Details of charges :71A:SHA
Sender's charges :71F:USD10,
Sender's charges :71F:USD10,
Sender to receiver information :72:/INS/CHASUS33
End of message text/trailer

(1)  The Sender of the initial MT 103 is Bank Austria, Vienna, which is the ordering institution in all subsequent messages.

Example 1.5: Single Customer Credit Transfer with Three Reimbursement Institutions

Narrative

Gian Angelo Imports, Naples, orders Banca Commerciale Italiana, Naples, to pay, value 12 June 2009, US Dollars 5,443.99 to Banque Nationale de Paris, Grenoble, for account number 20041 01005 0500001M026 06 of Killy S.A., Grenoble, in payment of invoice 559661.

Banca Commerciale Italiana, Milan, makes the US Dollar payment through its US correspondent, Banca Commerciale Italiana, New York, under reference 8861198-0706.

Payment is to be made to Banque Nationale de Paris, Paris, in favour of Banque Nationale de Paris, Grenoble, through its US correspondent, Bank of New York, New York.

This transfer may be sent via SWIFT using one of the following methods:

  1. Message sent to party closest to the beneficiary, using a third reimbursement institution.

  2. Message sent through several reimbursement institutions, using an account with institution.

  3. Message sent to the next party in the transaction.

Note: 

Although this transfer may also be sent to the next party in the transaction, this method is not illustrated here.

The alternative selected is dependent on correspondent relationships and financial practice of the countries involved.

Method 1 Message Sent to Party Closest to the Beneficiary, Using a Third Reimbursement Institution
Message A SWIFT MT 103 Single Customer Credit Transfer

Information Flow

D0010027

SWIFT Message, MT 103

Explanation Format
Sender BCITITMM
Message type 103
Receiver  (1)  BNPAFRPPGRE
Message text
Sender's reference :20:8861198-0706
Bank operation code :23B:CRED
Value date/currency/interbank settled amount :32A:090612USD5443,99
Currency/Instructed amount :33B:USD5443,99
Ordering customer :50F:/14578267890
1/GIAN ANGELO IMPORTS
2/LUNGO MORE 5
3/IT/NAPLES
Ordering institution :52A:BCITITMM500
Sender's correspondent  (2)  :53A:BCITUS33
Intermediary reimbursement institution  (3)  :54A:IRVTUS3N
Third reimbursement institution :55A:BNPAFRPP
Beneficiary customer

:59F:/20041010050500001M02606
1/KILLY S.A.
3/FR/GRENOBLE

:59:/20041010050500001M02606
KILLY S.A.
GRENOBLE

Remittance information  (4)  :70:/INV/559661
Details of charges :71A:SHA
End of message text/trailer

(1)  The message is sent to Banque Nationale de Paris, Grenoble, the financial institution which is located closest to the beneficiary customer.

(2)  Banca Commerciale Italiana, New York, the sender's correspondent, will provide the funds to the intermediary reimbursement institution, Bank of New York, N.Y.

(3)  Bank of New York, New York, will receive the funds on behalf of Banque Nationale de Paris, Paris

(4)  As the reference for the beneficiary is an invoice number, the code /INV/ is used, followed by the invoice number.

Mapping

D0010049

Message B SWIFT MT 202 COV (Cover Message)

Information Flow

D0010028

SWIFT Message, MT 202 COV

Explanation Format
Sender BCITITMM
Message type 202
Receiver  (1)  BCITUS33
Validation flag 119:COV
Message Text: General Information
Transaction reference number :20:597240
Related reference  (2)  :21:8861198-0706
Value date/currency code/amount :32A:090612USD5443,99
Intermediary  (3)  :56A:IRVTUS3N
Account with institution  (4)  :57A:BNPAFRPP
Beneficiary institution :58A:BNPAFRPPGRE
Underlying Customer Credit Transfer Details
Ordering customer :50F:/14578267890
1/GIAN ANGELO IMPORTS
2/LUNGO MORE 5
3/IT/NAPLES
Ordering institution :52A:BCITITMM500
Beneficiary customer

:59F:/20041010050500001M02606
1/KILLY S.A.
3/FR/GRENOBLE

:59:/20041010050500001M02606
KILLY S.A.
GRENOBLE

Remittance information :70:/INV/559661
Currency/Instructed Amount :33B:USD5443,99
End of message text/trailer

(1)  The message is sent to Banca Commerciale Italiana, New York, ordering transfer of the funds to Bank of New York, New York.

(2)  The related reference is the Sender's reference of the MT 103.

(3)  Bank of New York, New York, will pay the funds to Banque Nationale de Paris, Paris, in favour of Grenoble.

(4)  Banque Nationale de Paris, Paris, will pay the funds to its Grenoble office, in cover of the transaction to Killy, S.A.

Message C SWIFT MT 205 COV (or its equivalent domestic clearing message)

Information Flow

D0010029

SWIFT Message, MT 205 COV

Explanation Format
Sender BCITUS33
Message type 205
Receiver  (1)  IRVTUS3N
Validation flag 119:COV
Message Text: General Information
Transaction reference number :20:4958302594757
Related reference  (2)  :21:8861198-0706
Value date/currency code/amount :32A:090612USD5443,99
Ordering institution :52A:BCITITMM
Account with institution  (3)  :57A:BNPAFRPP
Beneficiary institution :58A:BNPAFRPPGRE
Underlying Customer Credit Transfer Details
Ordering customer :50F:/14578267890
1/GIAN ANGELO IMPORTS
2/LUNGO MORE 5
3/IT/NAPLES
Ordering institution :52A:BCITITMM500
Beneficiary customer

:59F:/20041010050500001M02606
1/KILLY S.A.
3/FR/GRENOBLE

:59:/20041010050500001M02606
KILLY S.A.
GRENOBLE

Remittance information :70:/INV/559661
Currency/Instructed Amount :33B:USD5443,99
End of message text/trailer

(1)  The message is sent to Bank of New York, New York.

(2)  The related reference is the Sender's reference of the initial MT 103.

(3)  Bank of New York, New York, will pay the funds to Banque Nationale de Paris, Paris, in favour of Grenoble.

Message D SWIFT MT 202 COV General Financial Institution Transfer

Information Flow

D0010030

SWIFT Message, MT 202 COV

Explanation Format
Sender IRVTUS3N
Message type 202
Receiver BNPAFRPP
Validation flag 119:COV
Message Text: General Information
Transaction reference number :20:GH45952-4587
Related reference  (1)  :21:8861198-0706
Value date/currency code/amount :32A:090612USD5443,99
Ordering institution :52A:BCITITMM
Beneficiary institution :58A:BNPAFRPPGRE
Sender to receiver information>  (2)  :72:/INS/BCITUS33
Underlying Customer Credit Transfer Details
Ordering customer :50F:/14578267890
1/GIAN ANGELO IMPORTS
2/LUNGO MORE 5
3/IT/NAPLES
Ordering institution :52A:BCITITMM500
Beneficiary customer

:59F:/20041010050500001M02606
1/KILLY S.A.
3/FR/GRENOBLE

:59:/20041010050500001M02606
KILLY S.A.
GRENOBLE

Remittance information :70:/INV/559661
Currency/Instructed Amount :33B:USD5443,99
End of message text/trailer

(1)  The related reference is the Sender's reference of the initial MT 103.

(2)  The instructing institution is Banca Commerciale Italiana, New York.

Method 2 Customer Transfer Sent Through Several Reimbursement Institutions Using an Account With Institution
Message A SWIFT MT 103 Customer Transfer

Information Flow

D0010031

SWIFT Message, MT 103

Explanation Format
Sender BCITITMM
Message type 103
Receiver  (1)  BNPAFRPP
Message text
Sender's reference :20:8861198-0706
Bank operation code :23B:CRED
Value date/currency/interbank settled amount :32A:090612USD5443,99
Currency/Instructed amount :33B:USD5443,99
Ordering customer :50F:/14578267890
1/GIAN ANGELO IMPORTS
2/LUNGO MORE 5
3/IT/NAPLES
Ordering institution :52A:BCITITMM500
Sender's correspondent  (2)  :53A:BCITUS33
Receiver's correspondent  (3)  :54A:IRVTUS3N
Account with institution :57A:BNPAFRPPGRE
Beneficiary customer

:59F:/20041010050500001M02606
1/KILLY S.A.
3/FR/GRENOBLE

:59:/20041010050500001M02606
KILLY S.A.
GRENOBLE

Remittance information  (4)  :70:/RFB/INVOICE 559661
Details of charges :71A:SHA
End of message text/trailer

(1)  The message is sent to Banque Nationale de Paris, Paris, the financial institution which will provide the funds to the account with institution.

(2)  Banca Commerciale Italiana, New York, will provide the funds to the receiver's correspondent, Bank of New York, New York.

(3)  Bank of New York, New York, the receiver's correspondent, will receive the funds on behalf of Banque Nationale de Paris, Paris.

(4)  As the reference for the beneficiary can be contained in 16 characters, the code /RFB/ is used, followed by the reference.

Mapping

D0010050

Message B SWIFT MT 202 COV (Cover Message)

Information Flow

D0010032

SWIFT Message, MT 202 COV

Explanation Format
Sender BCITITMM
Message type 202
Receiver  (1)  BCITUS33
Validation flag 119:COV
Message Text: General Information
Transaction reference number :20:597240
Related reference  (2)  :21:8861198-0706
Value date/currency code/amount :32A:090612USD5443,99
Account with institution  (3)  :57A:IRVTUS3N
Beneficiary institution :58A:BNPAFRPP
Underlying Customer Credit Transfer Details
Ordering customer :50F:/14578267890
1/GIAN ANGELO IMPORTS
2/LUNGO MORE 5
3/IT/NAPLES
Ordering institution :52A:BCITITMM500
Account with institution :57A:BNPAFRPPGRE
Beneficiary customer

:59F:/20041010050500001M02606
1/KILLY S.A.
3/FR/GRENOBLE

:59:/20041010050500001M02606
KILLY S.A.
GRENOBLE

Remittance information :70:/RFB/INVOICE 559661
Currency/Instructed Amount :33B:USD5443,99
End of message text/trailer

(1)  The message is sent to Banca Commerciale Italiana, New York, ordering transfer of the funds to Bank of New York, New York.

(2)  The related reference is the Sender's reference of the initial MT 103.

(3)  Bank of New York, New York, will pay the funds to Banque Nationale de Paris, Paris.

Message C SWIFT MT 205 COV (or its equivalent domestic clearing message)

Information Flow

D0010033

SWIFT Message, MT 205 COV

Explanation Format
Sender BCITUS33
Message type 205
Receiver  (1)  IRVTUS3N
Validation flag 119:COV
Message Text: General Information
Transaction reference number :20:4958302594757
Related reference  (2)  :21:8861198-0706
Value date/currency code/amount :32A:090612USD5443,99
Ordering institution :52A:BCITITMM
Beneficiary institution  (3)  :58A:BNPAFRPP
Underlying Customer Credit Transfer Details
Ordering customer :50F:/14578267890
1/GIAN ANGELO IMPORTS
2/LUNGO MORE 5
3/IT/NAPLES
Ordering institution :52A:BCITITMM500
Account with institution :57A:BNPAFRPPGRE
Beneficiary customer

:59F:/20041010050500001M02606
1/KILLY S.A.
3/FR/GRENOBLE

:59:/20041010050500001M02606
KILLY S.A.
GRENOBLE

Remittance information :70:/RFB/INVOICE 559661
Currency/Instructed Amount :33B:USD5443,99
End of message text/trailer

(1)  The message is sent to Bank of New York, New York.

(2)  The related reference is the Sender's reference of the initial MT 103.

(3)  Bank of New York, New York, will pay the funds to Banque Nationale de Paris, Paris.

Message D SWIFT Statement/Confirmation of Credit

Bank of New York, New York, will credit Banque Nationale de Paris with the funds.

The statement line for this credit on the customer statement (MT 950) will appear as:

:61:090612C5443,99S9108861198-0706//GH45952-4587

In addition, Bank of New York may send, prior to the statement, a Confirmation of Credit:

SWIFT Message, MT910

Explanation Format
Sender IRVTUS3N
Message type 910
Receiver BNPAFRPP
Message text
Transaction reference number :20:GH45952-4587
Related reference  (1)  :21:8861198-0706
Account identification :25:3373733
Value date/currency code/amount :32A:090612USD5443,99
Ordering institution :52A:BCITITMM
Intermediary  (2)  :56A:BCITUS33
End of message text/trailer

(1)  The related reference is the Sender's reference of the initial MT 103.

(2)  Banca Commerciale Italiana, New York, is the instructing institution.

Example 1.6: Customer Transfer with Currency Conversion

Narrative

Consortia Pension Scheme, a corporate in Zürich requests its bank (BNKACHZZ) to execute a pension payment in Swiss Francs. The beneficiary has his account, 429-5470572-63, with the Belgian correspondent of BNKACHZZ.

Information Flow

D0010034

SWIFT Message, MT 103

Explanation Format
Sender BNKACHZZ
Message type 103
Receiver BNKBBEBB
Message text
Sender's reference :20:5362/MPB
Bank operation code :23B:CRED
Value date/currency/interbank settled amount :32A:090828EUR1244,47
Currency/Instructed amount :33B:CHF2000,
Exchange rate :36:0,619735
Ordering customer :50K:/12345789549
CONSORTIA PENSION SCHEME
FRIEDRICHSTRASSE, 27
8022-ZURICH
Beneficiary customer :59:/429547057263
JOHANN WILLEMS
RUE JOSEPH II, 19
1040 BRUSSELS
Remittance information :70:PENSION PAYMENT SEPTEMBER 2009
Details of charges :71A:OUR
Receiver's charges :71G:EUR5,
End of message text/trailer

In the statement message sent by BNKBBEBB to its Swiss correspondent, the settlement amount as specified in field 32A and the Sender's reference specified in field 20 will be quoted in the appropriate statement line. For the example given this would result in the following MT 950:

SWIFT Message, MT 950

Explanation Format
Sender BNKBBEBB
Message type 950
Receiver BNKACHZZ
Message text
Transaction reference number :20:112734
Account identification :25:415370412218
Statement number :28C:102/1
Opening balance :60F:C090827EUR100000,
Statement line :61:090828D1244,47S1035362/MPB//1234T
Closing balance :62F:C090828EUR98755,53
End of message text/trailer

MT 103 Example for the MT 103, used in a Service Level Agreement

Overview of Available Options for Party Fields

The available options for the party fields in the MT 103 message differ, depending on the SWIFT Service Level Agreement indicated in field 23B. The following matrix gives an overview of the options that may be used in the different scenarios. You can find full details under the conditional rules and the field specifications of the respective fields.

  Payments Service Levels: Field 23B contains SPAY, SSTD or SPRI Other Usage: Field 23B contains CRED or CRTS
52a A
D		 A
D
53a A
B (Account number only)		 A
B
D
54a A A
B (Branch only)
D
55a A A
B (Branch only)
D
56a Priority
Forbidden		 A
C (clearing code)		 A
C (clearing code)
D
57a A
C
D (with mandatory identifier)		 A
B
C
D

In the following examples both the Sender and the Receiver agreed to exchange payment messages under a SWIFT Service Level.

The message available for this group of users has the following layout for both the Standard and SWIFTPay Service Level:

MT 103 Single Customer Credit Transfer
Status Tag Field Name Content/Options No.
   
M 20 Sender's Reference 16x 1
----->
O 13C Time indication /8c/4!n1!x4!n 2
-----|
M 23B Bank Operation Code SSTD or SPAY 3
----->
O 23E Instruction Code 4!c[/30x] 4
-----|
O 26T Transaction Type Code 3!a 5
M 32A Value Date/Currency/Interbank Settled Amount 6!n3!a15d 6
O 33B Currency/Instructed Amount 3!a15d 7
O 36 Exchange Rate 12d 8
M 50a Ordering Customer A, F or K 9
O 51A Sending Institution [/1!a][/34x]
4!a2!a2!c[3!c]		 10
O 52a Ordering Institution A or D 11
O 53a Sender's Correspondent A, B or D 12
O 54a Receiver's Correspondent A, B or D 13
O 55a Third Reimbursement Institution A, B or D 14
O 56a Intermediary Institution A, C or D 15
O 57a Account With Institution A, B, C or D 16
M 59a Beneficiary Customer No letter option, A, or F A or no letter option 17
O 70 Remittance Information 4*35x 18
M 71A Details of Charges 3!a 19
----->
O 71F Sender's Charges 3!a15d 20
-----|
O 71G Receiver's Charges 3!a15d 21
O 72 Sender to Receiver Information 6*35x 22
O 77B Regulatory Reporting 3*35x 23

The message has the following layout for the SWIFT Priority Service Level:

MT 103 Single Customer Credit Transfer
Status Tag Field Name Content/Options No.
 
M 20 Sender's Reference 16x 1
----->
O 13C Time indication /8c/4!n1!x4!n 2
-----|
M 23B Bank Operation Code SPRI 3
----->
O 23E Instruction Code 4!c[/30x] 4
-----|  
O 26T Transaction Type Code 3!a 5
M 32A Value Date/Currency/Interbank Settled Amount 6!n3!a15d 6
O 33B Currency/Instructed Amount 3!a15d 7
O 36 Exchange Rate 12d 8
M 50a Ordering Customer A, F or K 9
O 51A Sending Institution [/1!a][/34x]
4!a2!a2!c[3!c]		 10
O 52a Ordering Institution A or D 11
O 53a Sender's Correspondent A, B or D 12
O 54a Receiver's Correspondent A, B or D 13
O 55a Third Reimbursement Institution A, B or D 14
O 57a Account With Institution A, B, C or D 16
M 59a Beneficiary Customer No letter option, A, or F A or no letter option 17
O 70 Remittance Information 4*35x 18
M 71A Details of Charges 3!a 19
----->
O 71F Sender's Charges 3!a15d 20
-----|
O 71G Receiver's Charges 3!a15d 21
O 72 Sender to Receiver Information 6*35x 22
O 77B Regulatory Reporting 3*35x 23
Note:  Field 56a Intermediary Institution is not allowed within the SWIFT Priority Service Level.

Example 2.1: Single Customer Credit Transfer With Reimbursement Through Several Institutions

Narrative

Value August 28, 2009, Franz Holzapfel G.m.b.H. orders Bank Austria, Vienna, to pay US Dollars 1,121.50 to C. Klein, Bloemengracht 15, Amsterdam, whose account number 72 34 91 524 is with ABN Amro Bank, Amsterdam. The beneficiary is to be notified by phone at 20.527.19.60.

Bank Austria uses reference 394882.

In this example, the MT 103 will be sent to the party closest to the beneficiary, through several reimbursement institutions. It would also be possible to send the MT 103 to the next party in the transfer.

Note:  The alternative selected is dependent on correspondent relationships and financial practice in the countries involved.
SWIFT MT 103 to the Party Closest to the Beneficiary

Bank Austria sends the following messages:

  1. A customer transfer to ABN Amro Bank, Amsterdam.

  2. A cover message for the US dollar payment, which is provided through Chase Manhattan Bank, New York, to ABN Amro Bank, New York.

BKAUATWW agreed on the Standard Service Level, as did its Dutch correspondent ABNANL2A.

Information Flow

D0010035

SWIFT Message, MT 103

Explanation Format
Sender BKAUATWW
Message type 103
Receiver ABNANL2A
Message text
Sender's reference :20:394882
Bank operation code :23B:SSTD
Instruction code :23E:PHOB/20.527.19.60
Value date/currency/interbank settled amount :32A:090828USD1121,50
Currency/Instructed amount :33B:USD1121,50
Ordering customer :50F:/942267890
1/FRANZ HOLZAPFEL GMBH
2/GELBSTRASSE, 13
3/AT/VIENNA
Sender's correspondent  (1)  :53A:CHASUS33
Receiver's correspondent  (2)  :54A:ABNAUS33
Beneficiary customer

:59F:/723491524
1/C. KLEIN
2/BLOEMENGRACHT 15
3/NL/AMSTERDAM

:59:/723491524
C. KLEIN
BLOEMENGRACHT 15
AMSTERDAM

Details of charges :71A:SHA
End of message text/trailer

(1)  Field 53A indicates the institution which is to provide the funds to the Receiver on behalf of the Sender.

(2)  Field 54A is the receiver's correspondent - the institution which will receive the funds on behalf of the Receiver.

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