SWIFT Message types are the format or schema used to send messages to financial institutions on the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network. The original message types were developed by SWIFT and retrospectively made into an ISO standard, ISO 15022. This was later supplemented by a XML based version under ISO 20022.
The SWIFT network supports the following message standards:[1]
SWIFT MT 103 field 23[edit]
SWIFT messages consist of five blocks of the data including three headers, message content, and a trailer. Message types are crucial to identifying content.
To the same SWIFT BIC address), an account number should be. The MT103 message can also be used in combination with an. 3 For more details on Ordering Customer information requirements and BIC/IBAN see.
All SWIFT messages include the literal 'MT' (Message Type). This is followed by a three-digit number that denotes the message category, group and type. Consider the following example, which is an order to buy or sell via a third party:
- Example 1 : MT304
The first digit (3) represents the category. A category denotes messages that relate to particular financial instruments or services such as Precious Metals (6), Treasury (3), or Travellers Cheques (8). The category denoted by 3 is Treasury Markets.
The second digit (0) represents a group of related parts in a transaction life cycle. The group indicated by 0 is a Financial Institution Transfer.
The third digit (4) is the type that denotes the specific message. There are several hundred message types across the categories. The type represented by 4 is a notification.
- Example 2 : MT103
The first digit (1) represents the category. A category denotes messages that relate to particular financial instruments or services such as Cash Transfer(1), Treasury (3), or Cash Management (9). The category denoted by 1 is Cash Transfer.
The second digit (0) represents a group of related parts in a transaction life cycle. The group indicated by 0 is a Financial Institution Transfer.
The third digit (3) is the type that denotes the specific message. There are several hundred message types across the categories. The type represented by 3 is a notification.
Overview of SWIFT MT Categories:
Message Type | Description |
---|---|
MT0xx | System Messages |
MT1xx | Customer Payments and Cheques |
MT2xx | Financial Institution Transfers |
MT3xx | Treasury Markets |
MT4xx | Collection and Cash Letters |
MT5xx | Securities Markets |
MT6xx | Treasury Markets - Metals and Syndications |
MT7xx | Documentary Credits and Guarantees |
MT8xx | Travellers Cheques |
MT9xx | Cash Management and Customer Status |
ISO 15022 MT[edit]
Although ISO 15022 Message Types are different in their structure than the SWIFT MT, the naming convention remains the same. The following example will illustrate:
- Example. MT307
As with SWIFT MTs, the first digit (3) denotes the category. As above, this denotes Treasury Markets.
As with SWIFT MTs, the second digit (0) represents a group of related parts in a transaction life cycle. The group indicated by 0 is a Financial Institution Transfer.
Finally, the third digit (7) denotes the specific message. In this case, similar to the MT 304, the 7 denotes ‘Notification’. The SWIFT MT 304 and the ISO 15022 MT 307 are equal but were created for different financial groups using different standards.
|}03/09/2019-11:43:52 INTERNATIONAL SWIFT ACKS-1305-2019-9 CUSTOMER'S COPY
NETWORK: SWIFTSESSION HOLDER: CBSWCHZZXXX DELIVERY STATUS: NETWORK ACK
INSTANCE TYPE AND TRANSMISSION--------------------------
ORIGINAL PRIORITY DELIVERY: NORMALMESSAGE INPUT REFERENCE: 20190803 6142CBSWCHZZXXX14256925362514 MESSAGE OUTPUT REFERENCE: 3624HLBBMYKLXXX1742569256824
MESSAGE HEADER---------------------------------------
SWIFT INPUT: FIN 103 SINGLE CUSTOMER CREDIT TRANSFER SENDER: CITI BANK (SWITZERLAND) AG
- 25 SEESTRASSE, 8021 ZURICH, SWITZERLAND
- E.N.H MARITIME S.A
/0/354512/004/CH 71 0863 8000 3545 1200 4 CBSWCHZZXXX
- RECEIVER: HONG LEONG BERHAD
- WISMA HONG LEONG LEVEL 8, 18 JALAN PERAK 50540 KUALA LUMPUR MALAYSIA
- /31300013349
- IK GLOBAL TECHNOLOGY
HLBBMYKLXXX
MESSAGE TEXT--------------------------------------
- F20: SENDER'S REFERENCE: 0162738096374938CBSW20182601725640
- F21: TRANSACTION CODE: 40571305497610548761
- F23B: BANK OPERATION CODE` ` CRED009406/3164
CBSWCHZZXXX
- F32A: VAL DATE/CUR/INTERBANK SETTLED DATE: SAME DAY
CURRENCY: EUROAMOUNT: € 5,000,000.00
- F33B: CURRENCY/INSTRUCTED AMOUNT
€ 5,000,000.00
- F50A: ORDERING CUSTOMER NAME & ADDRESS
//E.N.H MARITIME S.A/UNIT 826, OCEAN CENTER, 5 CANTON ROAD, KOWLOON, HONGKONG
- F52A: ORDERING INSTITUTION
//CH 71 0863 8000 3545 1200 4/CBSWCHZZXXX
- F59A: BENEFICIARY INV CUSTOMER - NAME & ADDRESS // IK GLOBAL TECHNOLOGY / 31300013349
HLBBMYKLXXX
- F70: REMITTANCE INFORMATION INVESTMENT
- F71A: DETAILS OF CHARGES
- F72: SENDER TO RECEIVER'S INFORMATION
- FOR INVESTMENT
WE, CITI BANK (SWITZERLAND) AG, 25 SEESTRASSE, 8021 ZURICH, SWITZERLAND, WITH FULL BANKING RESPONSIBILITY HEREBY PRESENT OUR UNCONDITIONAL, IRREVOCABLE, ASSIGNABLE, TRANSFERABLE, DIVISIBLE, AND CALLABLE MT 103 IS VALID FOR PAYMENT ON THE SAME DAY. PLEASE ADVISE- BENEFICIARY OF THIS SWIFT THAT THIS TRANSFER IS VAILD FOR PAYMENT UPON IDENTIFICATION, PRESENTATION OF RECEIPT. THIS IRREVOCABLE CASH TRANSFER CAN BE RELIED UPON FOR FULL CASH.
- WE ALSO CONFIRM THAT FUNDS ARE GOOD,CLEAN AND CLEAR FROM ANY CRIMINAL ORIGIN AND EARNED FROM LEGEL SOURCE.
- F77B: REGULATORY REPORTING
//€ 5,000,000.00 (FIVE MILLION EURO)
MESSAGE TRAILER---------------------------------------
(CHK 022008008884019)PKI SIGNATURE MAC EQUIVALENT
INTERVENTIONS-------------------------------------
CATEGORY: NETWORK REPORTCREATION TIME: 03/09/2019 - 11:43:52 APPLICATION: SWIFT INTERFACE OPERATOR: SYSTEM TEXT (F33CBSWCHZZ92300308801868033009(1:FO1 HLBBMYKL0706201969132572)CITI715000193643 (9:2019- 5 H)(5:76:0) END OF MESSAGE: XXXTRANSMISSION: OK
END OF TRANSMISSION ------------------------------
MT202: FIN 202 GENERAL FIN INST TRANSFER------------------------
TRANSACTION REFERENCE CODE: 0162738096374938CBSW2018260172564021: TRANSACTION CODE: 4057130549761054876133B: CURRENCY/INSTRUCTED AMOUNT: EURO #€5,000,000.00# 49: CONFIRMATION INSTRUCATION72: SENDER TO RECEIVER #€5,000,000.00#
- F52D: SENDER: CBSWCHZZXXX
BANK NAME: CITI BANK (SWITZERLAND) AG BANK ADDRESS: 25 SEESTRASSE, 8021 ZURICH,SWITZERLANDACCOUNT NAME: E.N.H MARITIME S.AACCOUNT NUMBER: CH 71 0863 8000 3545 1200 4
- F57: RECEIVER: HLBBMYKLXXX
BANK NAME: HONG LEONG BERHADBANK ADDRESS: WISMA HONG LEONG LEVEL 8,18 JALAN PERAK 50540 KUALA LUMPUR MALAYSIAACCOUNT NAME: IK GLOBAL TECHNOLOGYACCOUNT NUMBER: 31300013349
MESSAGE TRAILER----------------------------------------
(CHK 022008008884019)PKI SIGNATURE: MAC - EQUIVALENT TRACKING CODE: 826351038465
INTERVENTIONS-----------------------------------------------
CONFIRMED AND RECEIVED
----------- -------
ANSWER BACK AND ACKNOWLEDGMENT MESSAGE AUTOMATED FILE TRANSFER (AFT) GATEWAY RESPONSE VALIDATION SERVICE PROVIDER LOG/APPLICATION GENERATED REPORT ACKNOWLEDGMENT&AUTHENTICATION ACK NAG DELIVERY FTA/FTI CONFIRMATION STATEMENT PASS/FAIL STATUS0050 CNT, -------------------------------- Valid0060 RFF-DTM, ---------------------------- Valid0070 RFF, -------------------------------- Valid0090 NAD-CTA-COM---------------------------- Valid0100 NAD, -------------------------------- Valid0110 CTA, -------------------------------- Valid0120 COM, -------------------------------- Valid0130 ERC-FTX-5G4, ------------------------ Valid0140 ERC, -------------------------------- Valid0150 FTX, -------------------------------- Valid0160 RFF-FTX, ---------------------------- Valid0170 REF, -------------------------------- Valid0180 FTX, -------------------------------- Valid0190 UNT, -------------------------------- Valid
{XMT DELIVERY REPORT}------------------------------------
MESSAGE TYPE:MT202 PRIORITY: NORMAL RECEIVED: HLBBMYKLXXX INPUT OUTPUT ACK NAK DUP AUTH TIME: 11:54:19 DATE: 03/09/2019
See also[edit]
References[edit]
- ^'Standards MT & MX Equivalence Table'(PDF). SWIFT., pdf document from July, 28 2017
Retrieved from 'https://en.wikipedia.org/w/index.php?title=SWIFT_message_types&oldid=913928554'
MT103 is a SWIFT payment message type/format used for cash transfer specifically for cross border/international wire transfer.
Specification of SWIFT MT[edit]
SWIFT messages consist of five blocks of the data including three headers, message content, and a trailer. Message types are crucial to identifying content.
Below are different SWIFT message types
Message type | Description |
---|---|
MT0xx | System messages |
MT1xx | Customer payments and cheques |
MT2xx | Financial institution transfers |
MT3xx | Treasury markets |
MT4xx | Collection and cash letters |
MT5xx | Securities markets |
MT6xx | Treasury markets – metals and syndications |
MT7xx | Documentary credits and guarantees |
MT8xx | Travelers cheques |
MT9xx | Cash management and customer status |
All SWIFT messages include the literal 'MT' (Message Type). This is followed by a three-digit number that denotes the message category, group and type. Consider the example MT103:
The first digit (1) represents the category. A category denotes messages that relate to particular financial instruments or services such as cash transfer (1), treasury (3), or cash management (9). The category denoted by 1 is cash transfer.
The second digit (0) represents a group of related parts in a transaction life cycle. The group indicated by 0 is a financial institution transfer.
The third digit (3) is the type that denotes the specific message. There are several hundred message types across the categories. The type represented by 3 is a notification.[1]
MT103 fields[edit]
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) |
59 or 59A | Beneficiary |
57A, B, C or D | Account with institution (beneficiary's bank) |
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).[2]
References[edit]
- ^'Standards document centre'. SWIFT. 2015-08-25. Retrieved 2016-04-29.
- ^'SWIFT Message Type Reference'. SWIFT Integration Projects. Oracle. Retrieved 2016-04-29.
Retrieved from 'https://en.wikipedia.org/w/index.php?title=MT103&oldid=897210951'