MT103
MT103 is a SWIFT payment message type/format used for cash transfer specifically for cross border/international wire transfer.
MT103 fields
Below are the fields of an MT103 message. These fields are referred to as tags.
| Tag | Name |
|---|---|
| 20 | Transaction reference number |
| 23B | Bank operation code |
| 32A | Value date / currency / interbank settled |
| 33B | Currency / original ordered amount |
| 50A, F or K | Ordering customer (payer) or address of the remitter. |
| 52A or D | Ordering institution (payer's bank) |
| 53A, B or D | Sender's correspondent (bank) |
| 54A, B or D | Receiver's correspondent (bank) |
| 56A, C or D | Intermediary (bank) |
| 57A, B, C or D | Account with institution (beneficiary's bank) |
| 59 or 59A | Beneficiary 4x35 |
| 70 | Remittance information |
| 71A | Details of charges (OUR/SHA/BEN) |
| 72 | Sender to receiver information |
| 77B | Regulatory reporting |
In the above table, tags 52, 53, 54, 56, and 57 preferably contain ISO 9362 Business Identifier Codes (BICs), whereas tags 50 and 59 preferably contain an account number or a BIC.
As per SWIFT standards, the account number is to be in IBAN (International Bank Account Number) format or in BBAN format (for domestic payments).[1]
References
- "SWIFT Message Type Reference". SWIFT Integration Projects. Oracle. Retrieved 2016-04-29.
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