7/2/2017 GeneralFieldDefinitionsPlusMT103SingleCustomerCreditTransfer

Location:GeneralFieldDef...>IndexofMessages>MT103SingleCustomerCreditTransfer

MT103SingleCustomerCreditTransfer
TheMT103isaGeneralUsemessage,thatis,noregistrationinaMessageUserGroup(MUG)isnecessarytosendand
receivethismessage.ItallowstheexchangeofsinglecustomercredittransfersusingallMT103fields,exceptfield77T
(EnvelopeContents).TheMT103canbestraightthroughprocessableifthemessageisproperlyformattedaccordingto
preagreedbilateral/multilateralrules.

TwovariantsoftheMT103existandthesearedocumentseparately:

1.TheMT103STPisageneralusemessage,thatis,noregistrationinaMUGisnecessarytosendandreceivethis
message.Itallowsfortheexchangeofsinglecustomercredittransfersusinganetworkvalidated,restrictedsetof
fieldsandformatoptionsoftheMT103tomakeitstraightthroughprocessable.

2.TheMT103REMITrequiresregistrationintheExtendedRemittanceInformationMUG.ThisMUGallowsits
subscriberstoexchangeMT103REMITmessageswithanextendedamountofremittanceinformationinthe
additionalfield77TEnvelopeContents.ThisremittanceinformationmayoptionallybeexchangedinanonSWIFT
format,suchasEDIFACTorANSIX12.

MT103Scope

Thismessagetypeissentbyoronbehalfofthefinancialinstitutionoftheorderingcustomer,directlyorthrough(a)
correspondent(s),tothefinancialinstitutionofthebeneficiarycustomer.

Itisusedtoconveyafundstransferinstructioninwhichtheorderingcustomerorthebeneficiarycustomer,orboth,are
nonfinancialinstitutionsfromtheperspectiveoftheSender.

Thismessagemayonlybeusedforcleanpaymentinstructions.Itmustnotbeusedtoadvisetheremittingbankofa
paymentforaclean,forexample,cheque,collection,nortoprovidethecoverforatransactionwhosecompletionwas
advisedseparately,forexample,viaanMT400.

MT103FormatSpecifications

Status Tag FieldName Content/Options No.

M 20 Sender'sReference 16x 1

>

O 13C TimeIndication /8c/4!n1!x4!n 2

M 23B BankOperationCode 4!c 3

>

O 23E InstructionCode 4!c[/30x] 4

O 26T TransactionTypeCode 3!c 5

M 32A ValueDate/Currency/InterbankSettledAmount 6!n3!a15d 6

O 33B Currency/InstructedAmount 3!a15d 7

O 36 ExchangeRate 12d 8

M 50a OrderingCustomer A,F,orK 9

O 51A SendingInstitution [/1!a][/34x] 10

4!a2!a2!c[3!c]

O 52a OrderingInstitution AorD 11

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O 53a Sender'sCorrespondent A,B,orD 12

O 54a Receiver'sCorrespondent A,B,orD 13

O 55a ThirdReimbursementInstitution A,B,orD 14

O 56a IntermediaryInstitution A,C,orD 15

O 57a AccountWithInstitution A,B,C,orD 16

M 59a BeneficiaryCustomer Noletteroption,A,orF 17

O 70 RemittanceInformation 4*35x 18

M 71A DetailsofCharges 3!a 19

>

O 71F Sender'sCharges 3!a15d 20

O 71G Receiver'sCharges 3!a15d 21

O 72 SendertoReceiverInformation 6*35x 22

O 77B RegulatoryReporting 3*35x 23

MT103NetworkValidatedRules

C1Iffield33Bispresentandthecurrencycodeisdifferentfromthecurrencycodeinfield32A,field36mustbe
present,otherwisefield36isnotallowed(Errorcode(s):D75).

Iffield33Bis... Andcurrencycodeinfield33B Thenfield36is...

is...

Present Notequaltocurrencycodeinfield Mandatory

32A

Equaltocurrencycodeinfield Notallowed
32A

Notpresent Notapplicable Notallowed

C2IfthecountrycodesoftheSender'sandtheReceiver'sBICsarewithinthefollowinglist:AD,AT,BE,BG,BV,
CH,CY,CZ,DE,DK,ES,EE,FI,FR,GB,GF,GI,GP,GR,HU,IE,IS,IT,LI,LT,LU,LV,MC,MQ,MT,NL,NO,PL,PM,
PT,RE,RO,SE,SI,SJ,SK,SM,TFandVA,thenfield33Bismandatory,otherwisefield33Bisoptional(Error
code(s):D49).

IfcountrycodeofSender'sBIC AndcountrycodeofReceiver's Thenfield33Bis...

equalsoneofthelistedcountry BICequalsoneofthelisted
codes countrycodes

Yes Yes Mandatory

Yes No Optional

No Yes Optional

No No Optional

Note
SeealsoNetworkValidatedRuleC15(Errorcode(s):D51).

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C3Iffield23BcontainsthecodeSPRI,field23EmaycontainonlythecodesSDVA,TELB,PHOB,INTC(Error
code(s):E01).

Iffield23BcontainsoneofthecodesSSTDorSPAY,field23Emustnotbeused(Errorcode(s):E02).

Iffield23Bis... Thenfield23Eis...

SPRI Optional.ItcancontainonlySDVA,TELB,PHOBor
INTC

SSTD Notallowed

SPAY Notallowed

NotequaltoSPRI,SSTDandSPAY Optional

C4Iffield23BcontainsoneofthecodesSPRI,SSTDorSPAY,field53amustnotbeusedwithoptionD(Error
code(s):E03).

Iffield23Bis... Thenfield53a...

SPRI,SSTDorSPAY MustnotbeusedwithoptionD

C5Iffield23BcontainsoneofthecodesSPRI,SSTDorSPAYandfield53aispresentwithoptionB,Party
Identifiermustbepresentinfield53B(Errorcode(s):E04).

C6Iffield23BcontainsoneofthecodesSPRI,SSTDorSPAY,field54amaybeusedwithoptionAonly(Error
code(s):E05).

Iffield23Bis... Thenfield54a...

SPRI,SSTDorSPAY MaybeusedwithoptionAonly

C7Iffield55aispresent,thenbothfields53aand54amustalsobepresent(Errorcode(s):E06).

Iffield55ais... Thenfield53ais... Andfield54ais...

Present Mandatory Mandatory

Notpresent Optional Optional

C8Iffield23BcontainsoneofthecodesSPRI,SSTDorSPAY,field55amaybeusedwithoptionAonly(Error
code(s):E07).

Iffield23Bis... Thenfield55a...

SPRI,SSTDorSPAY MaybeusedwithoptionAonly

C9Iffield56aispresent,field57amustalsobepresent(Errorcode(s):C81).

Iffield56ais... Thenfield57ais...

Present Mandatory

Notpresent Optional

C10Iffield23BcontainsthecodeSPRI,field56amustnotbepresent(Errorcode(s):E16).

Iffield23BcontainsoneofthecodesSSTDorSPAY,field56amaybeusedwitheitheroptionAoroptionC.If
optionCisused,itmustcontainaclearingcode(Errorcode(s):E17).

Iffield23Bis... Thenfield56ais...

SPRI Notallowed

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SSTDorSPAY AllowedwithoptionAorConly(ifoptionC:clearing
codemustbeused)

C11Iffield23BcontainsoneofthecodesSPRI,SSTDorSPAY,field57amaybeusedwithoptionA,optionCor
optionD.Subfield1(PartyIdentifier)inoptionDmustbepresent(Errorcode(s):E09).

Iffield23Bis... Thenfield57ais...

SPRI,SSTDorSPAY AllowedonlywithoptionsA,CorD(InoptionD:
PartyIdentifierismandatory)

C12Iffield23BcontainsoneofthecodesSPRI,SSTDorSPAY,subfield1(Account)infield59aBeneficiary
Customerismandatory(Errorcode(s):E10).

C13Ifanyfield23EcontainsthecodeCHQB,subfield1(Account)infield59aBeneficiaryCustomerisnotallowed
(Errorcode(s):E18).

C14Iffield71AcontainsOUR,thenfield71Fisnotallowedandfield71Gisoptional(Errorcode(s):E13).

Iffield71Ais... Thenfield71Fis... Andfield71Gis...

OUR Notallowed Optional

Iffield71AcontainsSHA,thenfield(s)71Fis(are)optionalandfield71Gisnotallowed(Errorcode(s):D50).

Iffield71Ais... Thenfield(s)71Fis(are)... Andfield71Gis...

SHA Optional Notallowed

Iffield71AcontainsBEN,thenatleastoneoccurrenceoffield71Fismandatoryandfield71Gisnotallowed(Error
code(s):E15).

Iffield71Ais... Thenfield71Fis... Andfield71Gis...

BEN Mandatory(atleastone Notallowed

occurrence)

C15Ifeitherfield71F(atleastoneoccurrence)orfield71Gispresent,thenfield33Bismandatory,otherwisefield
33Bisoptional(Errorcode(s):D51).

Note1:Thepresenceofbothfields71Fand71GisalsoregulatedbythenetworkvalidatedruleC14(Error
code(s):E13,D50,E15).

Note2:Thepresenceoffield33BisalsoregulatedbytheNetworkValidatedRuleC2(Errorcode(s):D49).

C16Iffield56aisnotpresent,nofield23EmaycontainTELIorPHOI(Errorcode(s):E44).

Iffield56ais... Thennooccurrenceof
field23E
subfield1maycontain...

Notpresent TELIorPHOI

C17Iffield57aisnotpresent,nofield23EmaycontainTELEorPHON(Errorcode(s):E45).

Iffield57ais... Thennooccurrenceof
field23E
subfield1maycontain...

Notpresent TELEorPHON

C18Thecurrencycodeinthefields71Gand32Amustbethesame(Errorcode(s):C02).

MT103UsageRules

Whenthecovermethodisusedforacustomercredittransfer,theoriginatingbankmustcopythecontentoffield20
oftheMT103unchangedintofield21oftherelatedMT202COV.

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Field72mayonlybepresentwhenitisstructured,thatis,onlycontainscodedinformation.

WhensendingthemessageviaFileAct,institutionsshouldbilaterallyagreeonthemaximumsizeofthemessage.

UsageRulesforAmountRelatedFields

Thereisarelationshipbetweentheamountrelatedfields33B,36,71G,71Fand32Awhichmaybelogicallyexpressedin
thefollowingformula:

Theinstructedamountinfield33B,adjustedwiththeexchangerateinfield36,plustheReceiver'schargesinfield
71G,minustheSender'schargesinfield(s)71F,equalstheinterbanksettledamountinfield32A.

PresenceofthefieldsmentionedaboveissubjecttotheconditionalfieldrulesC1,C2,C15andC16.Ifafieldisnot
present,thatfieldmustnotbetakenintoaccountintheformula.Iffield71Fispresentmorethanonce,alloccurrencesof
thatfieldmustbetakenintoaccountintheformula.

Examples:TransactionA

PaytheequivalentofEUR1000,00inGBPtoabeneficiaryintheUnitedKingdom

Exchangerateis1EURfor0,61999GBP

TransactionchargesontheSender'ssideareEUR5,00(=GBP3,1)

TransactionchargesontheReceiver'ssideareGBP4(=EUR6,45)

ExampleA1:ChargingoptionisOUR

1.Amountdebitedfromtheorderingcustomer'saccount:

InstructedAmount EUR 1000,00

+Sender'scharges EUR 5,00

+Receiver'scharges EUR 6,45

=DebitAmount EUR 1011,45

2.MT103extract:

FieldTag Content

33B EUR 1000,00

71A OUR

71G GBP 4,00

36 0,61999

32A GBP 623,99

3.ThesubsequentMT950showsonedebitentryforGBP623,99,thatis,field32A.

4.Amountcreditedtothebeneficiary:

Interbanksettlementamount GBP 623,99

Receiver'scharges GBP 4,00

=Creditamount GBP 619,99

ExampleA2:ChargingoptionisSHA

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1.Amountdebitedfromtheorderingcustomer'saccount:

Instructedamount EUR 1000,00

+Sender'scharges EUR 5,00

=Debitamount EUR 1005,00

2.MT103extract:

FieldTag Content

33B EUR 1000,00

71A SHA

36 0,61999

32A GBP 619,99

3.ThesubsequentMT950showsonedebitentryforGBP619,99,thatis,field32A.

4.Amountcreditedtothebeneficiary:

Interbanksettlementamount GBP 619,99

Receiver'scharges GBP 4,00

=Creditamount GBP 615,99

ExampleA3:ChargingoptionisBEN

1.Amountdebitedfromtheorderingcustomer'saccount:

Instructedamount=Debitamount EUR 1000,00

2.MT103extract:

FieldTag Content

33B EUR 1000,00

71A BEN

71F GBP 3,1

36 0,61999

32A GBP 616,89

3.ThesubsequentMT950showsonedebitentryforGBP616,89,thatis,field32A.

4.Amountcreditedtothebeneficiary:

EquivalentofInstructedamount GBP 619,99

Sender'scharges GBP 3,1

Receiver'scharges GBP 4,00

=Creditamount GBP 612,89

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Note
ThebeneficiaryisalsoadvisedoftheSender'schargesofGBP3,1.

Examples:TransactionB

PayGBP1000,00toabeneficiaryintheUnitedKingdom

Exchangerateis1EURfor0,61999GBP

TransactionchargesontheSender'ssideareEUR5,00(=GBP3,1)

TransactionchargesontheReceiver'ssideareGBP4,00(=EUR6,45)

Theorderingcustomerhasanaccountineuro

SenderandReceiver'sBICarewithintheEUcountrylist

ExampleB1:ChargingoptionisOUR

1.Amountdebitedfromtheorderingcustomer'saccount:

DebitonEURaccount

EquivalentofInstructedamount EUR 1612,93

+Sender'scharges EUR 5,00

+Receiver'scharges EUR 6,45

=Debitamount EUR 1624,38

2.MT103extract

FieldTag Content

33B GBP 1000,00

71A OUR

71G GBP 4,00

32A GBP 1004,00

Note
Field36doesnothavetobeusedsincecurrencyinfields32Aand33Bisthesame.

3.ThesubsequentMT950showsonedebitentryforGBP1004,thatis,field32A.

4.Amountcreditedtothebeneficiary:

Instructedamount=Credit GBP 1000,00

amount

ExampleB2:ChargingoptionisSHA

1.Amountdebitedfromtheorderingcustomer'saccount:

DebitonEURaccount

EquivalentofInstructedamount EUR 1612,93

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+Sender'scharges EUR 5,00

=Debitamount EUR 1617,93

2.MT103extract:

FieldTag Content

33B GBP 1000,00

71A SHA

32A GBP 1000,00

3.ThesubsequentMT950showsonedebitentryforGBP1000,thatis,field32A.

4.Amountcreditedtothebeneficiary:

Amountin32A GBP 1000,00

Receiver'scharges GBP 4,00

=Creditamount GBP 996,00

Note
Field36doesnothavetobeusedsincecurrencyinfields32Aand33Bisthesame.

ExampleB3:ChargingoptionisBEN

1.Amountdebitedfromtheorderingcustomer'saccount:

DebitonEURaccount

EquivalentofInstructedamount= EUR 1612,93

Debitamount

2.MT103extract:

FieldTag Content

33B GBP 1000,00

71A BEN

71F GBP 3,10

32A GBP 996,90

3.ThesubsequentMT950showsonedebitentryforGBP996,9thatis,field32A.

4.Amountcreditedtothebeneficiary:

Instructedamount GBP 1000,00

Sender'scharges GBP 3,10

Receiver'scharges GBP 4,00

=Creditamount GBP 992,90

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Note
ThebeneficiaryisalsoadvisedoftheSender'schargesofGBP3,1.

MT103MarketPractices

AsindicatedintheMT103Guidelines,whenanMT103issentusingthecovermethod,anMT202COVmessagemust
besenttocoverthetransfer.Acredittoabeneficiary'saccountthatisbasedonthereceiptofanMT103,withoutreceiptof
therelatedcoverpayment,isapolicydecision.Institutionshavedeployedprocessesthatareapprovedbytheirinternal
riskcommitteestheriskliesclearlywiththebeneficiaryinstitution.GuidelinesfortheprocessingofanMT103sentwith
thecovermethodhavebeenpublishedbythePaymentsMarketPracticeGroup(PMPG).

Formoredetails,seethemarketpracticedocumentGuidelinesforuseoftheMT202COVonwww.pmpg.info.

MT103MessageGuidelines

IftheSenderandtheReceiverwishtousetheirdirectaccountrelationshipinthecurrencyofthetransfer,thenthe
MT103messagewillcontainthecoverforthecustomertransferaswellasthepaymentdetails.

IftheSenderandtheReceiverhavenodirectaccountrelationshipinthecurrencyofthetransferordonotwishto
usetheiraccountrelationship,thenthirdbankswillbeinvolvedtocoverthetransaction.TheMT103containsonly
thepaymentdetailsandtheSendermustcoverthecustomertransferbysendinganMT202COVGeneral
FinancialInstitutionTransfertoathirdbank.Thispaymentmethodiscalled'cover'.

Wheremorethantwofinancialinstitutionsareinvolvedinthepaymentchain,andiftheMT103issentfromone
financialinstitutiontothenextfinancialinstitutioninthischain,thenthepaymentmethodiscalled'serial'.

IftheReceiverdoesnotserviceanaccountforthebeneficiarycustomer,andnoaccountservicinginstitutionis
indicated,noranyalternativeinstructionsgiven,thentheReceiverwillactuponthecustomercredittransfer
instructioninanappropriatemannerofitschoice.

Inordertoallowbetterreconciliationbythebeneficiarycustomer,theMT103supportsfullchargestransparency
andstructuredremittanceinformation.

InordertoallowbetterreconciliationbytheReceiver,theMT103givesanunambiguousindicationofthe
interbankamountbookedbytheSender/tobebookedbytheReceiver.

TheMT103givestheSendertheabilitytoidentifyinthemessagethelevelofservicerequested,thatis,what
serviceisexpectedfromtheReceiverforaparticularpayment,forexample,SWIFTPay,StandardorPriorityorany
otherbilaterallyagreedservice.

Themessagealsoallowsfortheinclusionofregulatoryinformationincountrieswhereregulatoryreportingis
requested.
Toindexes:Messages|Fields|Qualifiers|Codes|Codesandqualifiersbyname|Errorcodes

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