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KTT Procedures

The document outlines procedures for a cash transfer between a sending and receiving bank using SWIFT messages. The sending bank first exchanges keys with the receiving bank and sends a pre-advice MT103. Upon confirmation from the receiving bank, the sending bank sends an MT103/202 payment message. The receiving bank then sends an MT999 confirmation and credits the funds to the receiving party, issuing payment to the sending bank according to the payment instruction. The process continues with additional tranches up to the maximum amount agreed upon.

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maro jerry
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2K views

KTT Procedures

The document outlines procedures for a cash transfer between a sending and receiving bank using SWIFT messages. The sending bank first exchanges keys with the receiving bank and sends a pre-advice MT103. Upon confirmation from the receiving bank, the sending bank sends an MT103/202 payment message. The receiving bank then sends an MT999 confirmation and credits the funds to the receiving party, issuing payment to the sending bank according to the payment instruction. The process continues with additional tranches up to the maximum amount agreed upon.

Uploaded by

maro jerry
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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PROCEDURES:

1. SENDING bank officer sends MT103 pre advice and keys to RECEIVING
bank officer, and RECEIVING bank exchange keys to SENDING bank. The
Telex keys exchange is for Telex KTT MT103 / MT202 Cash transfer
Process.
2. Upon receipt of the pre advice and reply of READINESS and ASSURANCE
from RECEIVING bank officer, SENDING bank officer sends MT103/202 to
RECEIVING bank.
3. RECEIVING bank officer accepts MT103 and send MT999 that the funds have
been accepted and credited to the telex account of RECEIVING bank party.
4. RECEIVING bank officer issues payment to SENDING bank according to the PGL.
5. The same procedure applies to tranches to be agreed upon
6. Subsequent MT103/202 CONTINUES IN TRANCHES TO MAXIMUM AMOUNT.

These are the procedures accepted by our bank. We can proceed immediately if
these procedures are acceptable to you and your team.

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