Standards

Category 2 - Financial Institution Transfers

For Standards MT November 2015

Message Reference Guide

This reference guide contains the category 2 message text standards, including a detailed description of the scope, the
format specifications, the rules, the guidelines, and the field specifications of each message type.

24 July 2015
Category 2 - Financial Institution Transfers for Standards MT November 2015

Table of Contents
Introduction................................................................................................................................................. 4
Overview................................................................................................................................................. 4
Changes ................................................................................................................................................. 4
Volume Formatting Explanation ............................................................................................................. 4
Category 2 Message Types........................................................................................................................ 7
Euro - Impact on Category Message Standards ......................................................................................10
MT 200 Financial Institution Transfer for its Own Account ....................................................................... 11
MT 200 Scope ...................................................................................................................................... 11
MT 200 Format Specifications.............................................................................................................. 11
MT 200 Network Validated Rules ......................................................................................................... 11
MT 200 Usage Rules............................................................................................................................ 11
MT 200 Field Specifications ................................................................................................................. 12
MT 200 Examples ................................................................................................................................ 19
MT 201 Multiple Financial Institution Transfer for its Own Account..........................................................22
MT 201 Scope ...................................................................................................................................... 22
MT 201 Format Specifications.............................................................................................................. 22
MT 201 Network Validated Rules .........................................................................................................23
MT 201 Usage Rules............................................................................................................................ 23
MT 201 Field Specifications ................................................................................................................. 23
MT 201 Examples ................................................................................................................................ 32
MT 202 General Financial Institution Transfer .........................................................................................35
MT 202 Scope ...................................................................................................................................... 35
MT 202 Format Specifications.............................................................................................................. 35
MT 202 Network Validated Rules .........................................................................................................35
MT 202 Usage Rules............................................................................................................................ 36
MT 202 Field Specifications ................................................................................................................. 36
MT 202 Examples ................................................................................................................................ 51
MT 202 COV General Financial Institution Transfer.................................................................................53
MT 202 COV Scope ............................................................................................................................. 53
MT 202 COV Format Specifications .....................................................................................................53
MT 202 COV Network Validated Rules ................................................................................................54
MT 202 COV Usage Rules ................................................................................................................... 54
MT 202 COV Market Practice Rules ....................................................................................................54
MT 202 COV Field Specifications ........................................................................................................55
MT 202 COV Examples........................................................................................................................ 82
MT 203 Multiple General Financial Institution Transfer ............................................................................85
MT 203 Scope ...................................................................................................................................... 85
MT 203 Format Specifications.............................................................................................................. 85
MT 203 Network Validated Rules .........................................................................................................86
MT 203 Usage Rules............................................................................................................................ 86
MT 203 Field Specifications ................................................................................................................. 86
MT 203 Examples .............................................................................................................................. 102
MT 204 Financial Markets Direct Debit Message...................................................................................105
MT 204 Scope .................................................................................................................................... 105
MT 204 Format Specifications............................................................................................................ 105
MT 204 Network Validated Rules .......................................................................................................106
MT 204 Usage Rules.......................................................................................................................... 106
MT 204 Field Specifications ............................................................................................................... 106
MT 204 Examples .............................................................................................................................. 117
MT 205 Financial Institution Transfer Execution ....................................................................................121
MT 205 Scope .................................................................................................................................... 121
MT 205 Format Specifications............................................................................................................ 121
MT 205 Network Validated Rules .......................................................................................................121
MT 205 Field Specifications ............................................................................................................... 122
MT 205 Examples .............................................................................................................................. 135
MT 205 COV Financial Institution Transfer Execution............................................................................138

2 Message Reference Guide

 Table of Contents

MT 205 COV Scope ........................................................................................................................... 138

MT 205 COV Format Specifications ...................................................................................................138
MT 205 COV Network Validated Rules ..............................................................................................139
MT 205 COV Usage Rules ................................................................................................................. 139
MT 205 COV Market Practice Rules ..................................................................................................139
MT 205 COV Field Specifications ......................................................................................................140
MT 205 COV Examples...................................................................................................................... 165
MT 207 Request For Financial Institution Transfer ................................................................................170
MT 207 Scope .................................................................................................................................... 170
MT 207 Format Specifications............................................................................................................ 171
MT 207 Network Validated Rules .......................................................................................................172
MT 207 Usage Rules.......................................................................................................................... 172
MT 207 Field Specifications ............................................................................................................... 172
MT 207 Examples .............................................................................................................................. 186
MT 210 Notice to Receive ...................................................................................................................... 188
MT 210 Scope .................................................................................................................................... 188
MT 210 Format Specifications............................................................................................................ 188
MT 210 Network Validated Rules .......................................................................................................188
MT 210 Usage Rules.......................................................................................................................... 189
MT 210 Field Specifications ............................................................................................................... 189
MT 210 Examples .............................................................................................................................. 198
MT 256 Advice of Non-Payment of Cheques .........................................................................................200
MT 256 Scope .................................................................................................................................... 200
MT 256 Format Specifications............................................................................................................ 200
MT 256 Network Validated Rules .......................................................................................................201
MT 256 Usage Rules.......................................................................................................................... 202
MT 256 Field Specifications ............................................................................................................... 203
MT 256 Examples .............................................................................................................................. 214
MT 256 Checklist................................................................................................................................ 216
MT 290 Advice of Charges, Interest and Other Adjustments .................................................................219
MT 291 Request for Payment of Charges, Interest and Other Expenses ..............................................220
MT 292 Request for Cancellation ........................................................................................................... 221
MT 295 Queries...................................................................................................................................... 222
MT 296 Answers .................................................................................................................................... 223
MT 298 Proprietary Message ................................................................................................................. 224
MT 299 Free Format Message ............................................................................................................... 225
Glossary of Terms................................................................................................................................... 226
Legal Notices.......................................................................................................................................... 227

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Category 2 - Financial Institution Transfers for Standards MT November 2015

Introduction

Overview
Category 2 consists of four types of messages exchanged between and on behalf of financial institutions.
These are:

• financial institution transfers, which are orders for the movement of funds, originated by a financial
institution, in favour of itself or another financial institution.

• notice to receive, which notifies a financial institution of funds which are to be received for the Sender's
account.

• payment messages issued by financial institutions to claim funds from SWIFT member banks.

• cheque truncation messages, to debit, obtain credit or inform of non-payment of truncated cheques.

The messages in this category deal with payments, or information about payments, in which all parties in the
transaction are financial institutions.

Changes
This volume incorporates the following changes to Category 2 - Financial Institution Transfers as noted in the
Standards Release Guide (SRG) 2015 and the relevant updates to the SRG 2015:

• The code CN (Chinese CNAPS clearing code) is added to the list of clearing codes that may be used in
party fields where clearing codes are allowed.

• New network validated rule is added to reject messages which have the currency codes for precious
metals XAU, XAG, XPD, XPT in currency code subfields.

IMPORTANT: This volume contains information effective as of the November 2015 Standards
Release. Therefore the 25 July 2014 edition of the Standards MT User Handbook
volumes remains effective until November 2015.

Volume Formatting Explanation

This volume of the Standards User Handbook set contains general information about the category and a
detailed description of each message type which is currently available for use. For each message type, the
following information is provided:

Message Type Scope

The scope specifies the Sender and Receiver of the message and provides an explanation on how the
message is used. In some messages, an example of the message flow is also provided.

Message Type Format Specifications

The format specifications are the rules for the layout of the message type. This information is provided in table
form with the following information:

4 Message Reference Guide

 Introduction

MT nnn (Message Type Name)

Status Tag Field Name Content/Options No.

M 20 Transaction Reference Number 16x 1

M 21 Related Reference 16x 2

Mandatory Sequence A (Sequence Name)

M 25 Account Identification 35x 3

M 32a Value Date, Currency Code, Amount C or D 4

-----> Optional Repetitive Sequence B (Sequence Name)

O 52a Ordering Institution A or D 5

M 71B Details of Charges 6*35x 6

O 72 Sender to Receiver Information 6*35x 7

-----|

M = Mandatory O = Optional

• MT nnn (Message Type Name) provides the message type number and name

• Status indicates if the field is

◦ M - Mandatory

◦ O - Optional

The status M for fields in optional (sub)sequences means that the field must be present if the
(sub)sequence is present and is otherwise not allowed.

• Tag is the field identification.

• Field Name is the detailed name of the field tag, for this message type.

• Content/Options provides permitted field length and characteristics. For information concerning field
structure, notation and character restrictions, see the Standards MT General Information.

• No. identifies the number of the field in the Field Specifications for the message type.

Some messages are separated into sequences of fields, as shown above. An arrow indicates that a sequence
of fields may be repeated.

MT Network Validated Rules

Network validated rules are validated on the network, that is, rules for which an error code is defined. Rules
specified in this section affect more than one field in the message, placing a condition on one of the fields
specified. They are identified as Cn, or conditional rules.

MT Usage Rules
Usage rules are not validated on the network, that is, rules for which no error code is defined, but are
nevertheless mandatory for the correct usage of the message. Rules specified in this section affect more than
one field in the message, or more than one SWIFT message.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

MT Guidelines
Guidelines are not validated on the network and are not mandatory for the correct usage of the message.
They concern good practices. Guidelines specified in this section affect more than one field in the message, or
more than one SWIFT message.

MT Field Specifications
The rules for the use of each field in the message are specified in this section. Each field is identified by its
index number (as shown in the No. column of the MT Format Specifications), field tag and detailed field name,
followed by a description of the field, which may contain some or all of the following:

• FORMAT specifies the field formats which are allowed for the field.

• PRESENCE indicates if the field is mandatory, optional or conditional in its sequence.

• DEFINITION specifies the definition of the field in the message type.

• CODES lists all codes available for use in the field. If there is more than one subfield for which codes are
defined, each separate code list will be identified with a CODES heading. When a list of codes is validated
by the network, the error code will be specified.

• NETWORK VALIDATED RULES specifies rules that are validated on the network, that is, rules for which
an error code is defined. Generally, rules specified in this section affect only the field in which they appear.
In some cases, rules which are validated at the message level, that is, rules which affect more than one
field, are repeated in this section. This is the case when the rule does not affect the presence of the field,
but information within several fields, for example, a currency which must be the same for more than one
field in the message.

• USAGE RULES specifies rules that are not validated on the network, that is, rules for which no error code
is defined, but are nevertheless mandatory for the correct usage of the field. Rules specified in this section
affect only the field in which they appear.

• MARKET PRACTICE RULES specifies rules published by the Payments Market Practice Group (PMPG).
It informs the reader of the existence of a global market practice document on the business process in
which the concerned field is used. The absence of a market practice rule notation does not mean that no
market practices exist for the concerned field. The presence of a market practice rule is merely an indicator
of a known market practice. Furthermore, readers should be aware that in addition to global market
practices there may also be country specific requirements that should be considered when using the field.
For more details on PMPG market practice documentation, refer to www.pmpg.info.

• EXAMPLES provides one or more examples of the field as it will be formatted/used.

MT Mapping
MT mapping provides an explanation of how to map the fields of the message into another SWIFT message,
either of the same or a different message type.

MT Examples
Examples are provided to illustrate the correct use of a message. Examples always include the following
information:

• Narrative provides a brief description of a transaction

• Information Flow illustrates the relationships between the parties involved in the message. An
explanation of the flow diagram can be found in the Standards MT General Information.

• SWIFT Format provides the message using the defined SWIFT format, and providing an explanation,
where necessary, of the fields which have been used.

6 Message Reference Guide

 Category 2 Message Types

Category 2 Message Types

The following table lists all message types defined in category 2.

For each message type, there is a short description, an indicator whether the message type is signed (Y/N),
the maximum message length on input (2,000 or 10,000 characters), whether the use of the message requires
registration with SWIFT for use in a message user group (Y/N) and whether value date ordering (VDO) can be
requested for the message (Y/N). Value date ordering criteria are described in the Standards MT General
Information.

MT MT Name Purpose Signed (1) Max. MUG VDO

Length

200 Financial Requests the movement of Y 2,000 N Y

Institution the Sender's funds to its
Transfer for its account at another financial
Own Account institution

201 Multiple Financial Multiple of the MT 200 Y 2,000 N Y

Institution
Transfer for its
Own Account

202 General Financial Requests the movement of Y 10,000 N Y

Institution funds between financial
Transfer institutions, except if the
transfer is related to an
underlying customer credit
transfer that was sent with
the cover method, in which
case the MT 202 COV must
be used.

202 General Financial Requests the movement of Y 10,000 N Y

COV Institution funds between financial
Transfer institutions, related to an
underlying customer credit
transfer that was sent with
the cover method.

203 Multiple General Multiple of the MT 202 Y 2,000 N Y

Financial
Institution
Transfer

204 Financial Markets Claims funds from SWIFT Y 2,000 (2) Y

Y
Direct Debit member banks
Message

205 Financial Further transmits a transfer Y 10,000 N Y

Institution request domestically,
Transfer except if the transfer is
Execution related to an underlying
customer credit transfer that
was sent with the cover
method, in which case the
MT 205 COV must be used.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

MT MT Name Purpose Signed (1) Max. MUG VDO

Length

205 Financial Further transmits a transfer Y 10,000 N Y

COV Institution request domestically,
Transfer related to an underlying
Execution customer credit transfer that
was sent with the cover
method.

207 Request for Requests to debit an Y 10,000 Y Y

Financial ordering financial
Institution institution's account held at
Transfer the receiving financial
institution or the account
servicing financial institution

210 Notice to Receive Notifies the Receiver that it Y 2,000 N Y

will receive funds for the
Sender's account

256 Advice of Non- Informs the Sender of one Y 10,000 Y Y

Payment of or more previously sent
Cheques cheque truncation
messages of non-payment
of one or more truncated
cheques. It may also be
used to specify dishonoured
items that result in
reversing a previous
payment settlement

290 Advice of Advises an account owner Y 2,000 N N

Charges, Interest of charges, interest or other
and Other adjustments
Adjustments

291 Request for Requests payment of Y 2,000 N N

Payment of charges, interest or other
Charges, Interest expenses
and Other
Expenses

292 Request for Requests the Receiver to Y 2,000 N N

Cancellation consider cancellation of the
message identified in the
request

295 Queries Requests information Y 2,000 N N

relating to a previous
message or amendment to
a previous message

296 Answers Responds to an MT 295 Y 2,000 N N

Queries message or an
MT 292 Request for
Cancellation or other
message where no specific
message type has been
provided for a response

8 Message Reference Guide

 Category 2 Message Types

MT MT Name Purpose Signed (1) Max. MUG VDO

Length

298 Proprietary Contains formats defined Y 10,000 N N

Message and agreed to between
users and for those
messages not yet live

299 Free Format Contains information for Y 2,000 N N

Message which no other message
type has been defined

(1) A Relationship Management Application (RMA) authorisation is required in order to sign a message.
(2) Special registration is needed for the MT 204 - see the FIN Service Description for details.

Note: A Message User Group (MUG), for the purposes of this book, is a group of users who have
voluntarily agreed to support the specified message type and have registered with SWIFT to send or
receive the specified message type. These messages are indicated in the preceding table in the
column MUG.
Registration is free of charge. To register to use one or more message types, submit a registration
request (Register to a Message User Group) through the forms available on www.swift.com >
Ordering > Order products and services.
To withdraw from a MUG, use the Deregister from a Message User Group request. These forms
are available at www.swift.com > Ordering > Terminate and deactivate.
To get the list of other members of a particular MUG, send an MT 999 to the Customer
Implementation team (SWHQBEBBCOS).

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Category 2 - Financial Institution Transfers for Standards MT November 2015

Euro - Impact on Category Message Standards

See the Standards MT General Information for full details of the Euro-Related Information (ERI) and the
impact on Standards MT message types.

10 Message Reference Guide

 MT 200 Financial Institution Transfer for its Own Account

MT 200 Financial Institution Transfer for its Own

Account

MT 200 Scope
This message type is sent by an account owner to one of its account servicing institutions.

It is used to request the movement of funds from an account that the Receiver services for the Sender to an
account that the Sender has, in the same currency, with another financial institution.

MT 200 Format Specifications

MT 200 Financial Institution Transfer for its Own Account
Status Tag Field Name Content/Options No.

M 20 Transaction Reference Number 16x 1

M 32A Value Date, Currency Code, Amount 6!n3!a15d 2

O 53B Sender's Correspondent [/1!a][/34x] 3

[35x]

O 56a Intermediary A or D 4

M 57a Account With Institution A, B, or D 5

O 72 Sender to Receiver Information 6*35x 6

M = Mandatory, O = Optional

MT 200 Network Validated Rules

There are no network validated rules for this message type.

MT 200 Usage Rules

• The beneficiary of this transfer is always the Sender.

• The Receiver and the account with institution are normally in the same country.

• In those cases where the account owner wishes to instruct its account servicing institution either to transfer
funds between two accounts serviced by the Receiver, or to debit its account with the Receiver and to
credit one of its several accounts at an account with institution, the MT 202 General Financial Institution
Transfer or the MT 203 Multiple Financial Institution Transfer must be used.

• In those cases where the sender wants the account servicing institution to do a book transfer the MT 202
General financial institution transfer or the MT 203 Multiple financial institution transfer must be used.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

MT 200 Field Specifications

1. Field 20: Transaction Reference Number
FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field specifies the reference assigned by the Sender to unambiguously identify the message.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

2. Field 32A: Value Date, Currency Code, Amount

FORMAT

Option A 6!n3!a15d (Date)(Currency)(Amount)

PRESENCE

Mandatory

DEFINITION

This field specifies the value date, currency and amount to be transferred.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

The codes XAU, XAG, XPD and XPT are not allowed, as these are codes for commodities for which the
category 6 commodities messages must be used (Error code(s): C08).

3. Field 53B: Sender's Correspondent

FORMAT

Option B [/1!a][/34x] (Party Identifier)

[35x] (Location)

12 Message Reference Guide

 MT 200 Financial Institution Transfer for its Own Account

PRESENCE

Optional

DEFINITION

This field specifies the account of the Sender which is to be debited.

USAGE RULES

In those cases where there are multiple direct account relationships, in the currency of the transaction,
between the Sender and the Receiver, and one of these accounts is to be used, the account to be debited
must be indicated in this field with the Party Identifier only.

When there is a single direct account relationship, in the currency of the transaction, between the Sender and
the Receiver, and this is the account to be used for reimbursement, field 53B must not be present.

4. Field 56a: Intermediary

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional

DEFINITION

This field identifies a party between the Receiver and the account with institution through which the transaction
must pass.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

24 July 2015 13
Category 2 - Financial Institution Transfers for Standards MT November 2015

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

14 Message Reference Guide

 MT 200 Financial Institution Transfer for its Own Account

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a and 57a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

5. Field 57a: Account With Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Mandatory

DEFINITION

This field identifies the financial institution to which the funds (owned by the Sender and originally placed with
the Receiver) are to be transferred.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

24 July 2015 15
Category 2 - Financial Institution Transfers for Standards MT November 2015

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

16 Message Reference Guide

 MT 200 Financial Institution Transfer for its Own Account

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a and 57a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

6. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative Structured Format)

The following line formats must be used:

Line 1 /8c/[additional information] (Code)(Narrative)

Lines 2-6 [//continuation of additional information] (Narrative)
or or
[/8c/[additional information]] (Code)(Narrative)

24 July 2015 17
Category 2 - Financial Institution Transfers for Standards MT November 2015

PRESENCE

Optional

DEFINITION

This field specifies additional information for the Receiver or another party identified in the field.

CODES

One or more of the following codes may be used in Code, placed between slashes ('/'):

ACC Account with Instructions following are for the account with institution.
institution

INT Intermediary Instructions following are for the intermediary institution.

institution

PHON Telephone Please advise account with institution by phone.

PHONIBK Phone Intermediary Please advise intermediary by phone.

REC Receiver Instructions following are for the Receiver of the message.

TELE Telecommunication Please advise the account with institution by the most efficient
means of telecommunication.

TELEIBK Telecommunication Please advise the intermediary by the most efficient means of
telecommunication.

NETWORK VALIDATED RULES

If the first six characters in line 1 contain the character string /REJT/ or /RETN/, then it is mandatory to follow
the Payments Reject/Return Guidelines described in the Standards MT Usage Guidelines (Error code(s):
T80).

USAGE RULES

Field 72 must never be used for information for which another field is intended.

Each item of information contained in this field must be preceded by a code which specifically indicates the
party for which it is intended.

Codes must be placed between slashes and at the beginning of a line. Additional explanatory information,
which may be continued on the next lines, is preceded by a double slash '//'.

Narrative text that is not qualified by a code, must start with a double slash '//' on a new line, and should
preferably be the last information in this field.

It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use
of codes in this field are in effect, the code must conform to the structure of this field.

Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the
presence of this field will normally require manual intervention.

This field may contain ERI to transport dual currencies, as specified in the chapter entitled "Euro-Related
Information (ERI)" in the Standards MT General Information.

In order to comply with the EC-directive on cross border credit transfers, the optional code word EXCH may be
used to transport an exchange rate. In line with ERI, the code word EXCH is placed between slashes, followed
by the exchange rate, format 12d, and terminated with another slash.

18 Message Reference Guide

 MT 200 Financial Institution Transfer for its Own Account

MT 200 Examples
Example 1: Financial Institution Transfer for its Own Account with an
Account With Institution
Narrative

Value 25 May 2009 UBS, Zürich requests ABN Amro Bank, Amsterdam, to transfer euro 1,000,000 to its
account at ING Bank, Amsterdam.

The reference for this transaction is 23/200516DEV.

Information Flow

Sender UBS
Zurich

MT

MT 200

(MT 910/950)
Receiver ABN Amro Bank
Amsterdam

(MT 205*)

Account With ING Bank

Institution Amsterdam
57a
* Or its equivalent domestic clearing message D0020001

SWIFT Message

Explanation Format

Sender UBSWCHZH80A

Message type 200

Receiver ABNANL2A

Message text

Transaction reference number 20:23/200516DEV

Value date/currency code/amount 32A:090525EUR1000000,

Account with institution (1) 57A:INGBNL2A

End of message text/trailer

(1) The Sender's account at the account with institution is to be credited with the funds.

24 July 2015 19
Category 2 - Financial Institution Transfers for Standards MT November 2015

Example 2: Financial Institution Transfer for its Own Account with an

Intermediary
Narrative

Value 25 May 2009, Bank Austria, Vienna, requests Chase Manhattan Bank, New York, to transfer US Dollars
1,000,000 to its account at Citibank N.A., Miami, through Citibank N.A., New York.

Bank Austria requests Chase to debit account 34554-3049 for this transfer, using reference 39857579.

Information Flow

Sender Bank Austria

Vienna

MT

MT 200

Receiver Chase Manhattan

Bank, New York
(MT 910/950)
(MT 205*)

Intermediary Citibank N.A.

New York
56a

Account Citibank N.A.

With Institution 57a Miami

* Or its equivalent domestic clearing message D0020002

20 Message Reference Guide

 MT 200 Financial Institution Transfer for its Own Account

SWIFT Message

Explanation Format

Sender BKAUATWW

Message type 200

Receiver CHASUS33

Message text

Transaction reference number :20:39857579

Value date/currency code/amount :32A:090525USD1000000,

Sender's correspondent (1) :53B:/34554-3049

Intermediary :56A:CITIUS33

Account with institution (2) :57A:CITIUS33MIA

End of message text/trailer

(1) The Sender's account which is to be debited at Chase Manhattan Bank, New York.
(2) The Sender's account at the account with institution which is to be credited with the funds in the transfer.

24 July 2015 21
Category 2 - Financial Institution Transfers for Standards MT November 2015

MT 201 Multiple Financial Institution Transfer for its

Own Account

MT 201 Scope
This multiple message type is sent by an account owner to one of its account servicing institutions.

It is used to request the movement of funds from an account that the Receiver services for the Sender to
several accounts that the Sender has, in the same currency, with other financial institutions.

MT 201 Format Specifications

The MT 201 consists of two types of sequences:

• The first sequence provides details of the transaction between the Sender and Receiver, that is, the value
date and total amount to be transferred, the Sender's correspondent and any other information about this
transaction, as necessary.

• The second sequence, which must appear at least twice and, in order to expedite processing, not more
than ten times. It provides details of each transaction between the Receiver and a financial institution to
which the funds will be transferred. Each sequence includes a TRN, the amount and currency code to be
transferred, the identification of the financial institution(s) to which the funds will be transferred and any
other information about the transaction, as necessary.

MT 201 Multiple Financial Institution Transfer for its Own Account

Status Tag Field Name Content/Options No.

M 19 Sum of Amounts 17d 1

M 30 Value Date 6!n 2

O 53B Sender's Correspondent [/1!a][/34x] 3

[35x]

O 72 Sender to Receiver Information 6*35x 4

----->

M 20 Transaction Reference Number 16x 5

M 32B Currency Code, Amount 3!a15d 6

O 56a Intermediary A or D 7

M 57a Account With Institution A, B, or D 8

O 72 Sender to Receiver Information 6*35x 9

-----|

M = Mandatory, O = Optional

22 Message Reference Guide

 MT 201 Multiple Financial Institution Transfer for its Own Account

MT 201 Network Validated Rules

C1 The amount in field 19 must equal the sum of the amounts in all occurrences of field 32B (Error
code(s): C01).

C2 The currency code in the amount field 32B must be the same for all occurrences of this field in the
message (Error code(s): C02).

C3 The repetitive sequence must appear at least twice, but not more than ten times (Error code(s):
T11,T10).

MT 201 Usage Rules

• Where the account owner wishes to instruct its account servicing institution either to transfer funds
between two accounts serviced by the Receiver, or to debit its account with the Receiver and to credit one
of its several accounts at an account with institution, the MT 202 General Financial Institution Transfer or
the MT 203 Multiple General Financial Institution Transfer must be used.

• In those cases where the sender wants the account servicing institution to do a book transfer the MT 202
General financial institution transfer or the MT 203 Multiple financial institution transfer must be used.

• The beneficiary of each transfer is always the Sender.

MT 201 Field Specifications

1. Field 19: Sum of Amounts
FORMAT

17d (Amount)

PRESENCE

Mandatory

DEFINITION

This field contains the sum of all amounts appearing in each occurrence of field 32B in the message.

NETWORK VALIDATED RULES

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the currency specified in field 32B (Error code(s): C03,T40,T43).

2. Field 30: Value Date

FORMAT

6!n (Date)

24 July 2015 23
Category 2 - Financial Institution Transfers for Standards MT November 2015

PRESENCE

Mandatory

DEFINITION

This field specifies the value date for all transactions in the message.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

3. Field 53B: Sender's Correspondent

FORMAT

Option B [/1!a][/34x] (Party Identifier)

[35x] (Location)

PRESENCE

Optional

DEFINITION

This field specifies the account of the Sender which is to be debited.

USAGE RULES

This field should be used when the Receiver services more than one account for the Sender in the currency of
the transactions.

In those cases where there are multiple direct account relationships, in the currency of the transaction,
between the Sender and the Receiver, and one of these accounts is to be used, the account to be debited
must be indicated in this field with the Party Identifier only.

When there is a single direct account relationship, in the currency of the transaction, between the Sender and
the Receiver, and this is the account to be used for reimbursement, field 53B must not be present.

4. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative Structured Format)

The following line formats must be used:

Line 1 /8c/[additional information] (Code)(Narrative)

Lines 2-6 [//continuation of additional information] (Narrative)
or or
[/8c/[additional information]] (Code)(Narrative)

PRESENCE

Optional

24 Message Reference Guide

 MT 201 Multiple Financial Institution Transfer for its Own Account

DEFINITION

This field specifies additional information which applies to every transaction in the message.

CODES

One or more of the following codes may be used in Code, placed between slashes ('/'):

ACC Account with Instructions following are for the account with institution.
institution

INT Intermediary Instructions following are for the intermediary institution.

institution

PHON Telephone Please advise account with institution by phone.

PHONIBK Phone Intermediary Please advise intermediary by phone.

REC Receiver Instructions following are for the Receiver of the message.

TELE Telecommunication Please advise the account with institution by the most efficient
means of telecommunication.

TELEIBK Telecommunication Please advise the intermediary by the most efficient means of
telecommunication.

NETWORK VALIDATED RULES

If the first six characters in line 1 contain the character string /REJT/ or /RETN/, then it is mandatory to follow
the Payments Reject/Return Guidelines described in the Standards MT Usage Guidelines (Error code(s):
T80).

USAGE RULES

Field 72 must never be used for information for which another field is intended.

Each item of information contained in this field must be preceded by a code which specifically indicates the
party for which it is intended.

Codes must be placed between slashes and at the beginning of a line. Additional explanatory information,
which may be continued on the next lines, is preceded by a double slash '//'.

Narrative text that is not qualified by a code, must start with a double slash '//' on a new line, and should
preferably be the last information in this field.

It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use
of codes in this field are in effect, the code must conform to the structure of this field.

Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the
presence of this field will normally require manual intervention.

This field may contain ERI to transport dual currencies, as specified in the chapter entitled "Euro-Related
Information (ERI)" in the Standards MT General Information.

In order to comply with the EC-directive on cross border credit transfers, the optional code word EXCH may be
used to transport an exchange rate. In line with ERI, the code word EXCH is placed between slashes, followed
by the exchange rate, format 12d, and terminated with another slash.

24 July 2015 25
Category 2 - Financial Institution Transfers for Standards MT November 2015

5. Field 20: Transaction Reference Number

FORMAT

16x

PRESENCE

Mandatory

DEFINITION

The Transaction Reference Number (TRN) specifies the reference assigned by the Sender to unambiguously
identify the message.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

USAGE RULES

A different TRN must be assigned to each transaction in the message.

6. Field 32B: Currency Code, Amount

FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

Mandatory

DEFINITION

This field specifies the currency and amount to be transferred in each individual transaction within the
message.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

The codes XAU, XAG, XPD and XPT are not allowed, as these are codes for commodities for which the
category 6 commodities messages must be used (Error code(s): C08).

26 Message Reference Guide

 MT 201 Multiple Financial Institution Transfer for its Own Account

7. Field 56a: Intermediary

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional

DEFINITION

This field specifies the financial institution through which the transaction must pass to reach the account with
institution.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

24 July 2015 27
Category 2 - Financial Institution Transfers for Standards MT November 2015

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a and 57a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

28 Message Reference Guide

 MT 201 Multiple Financial Institution Transfer for its Own Account

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

8. Field 57a: Account With Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Mandatory

DEFINITION

This field specifies the financial institution to which the funds (owned by the Sender and originally placed with
the Receiver) are to be transferred.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

24 July 2015 29
Category 2 - Financial Institution Transfers for Standards MT November 2015

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

30 Message Reference Guide

 MT 201 Multiple Financial Institution Transfer for its Own Account

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a and 57a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

9. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative Structured Format)

The following line formats must be used:

Line 1 /8c/[additional information] (Code)(Narrative)

Lines 2-6 [//continuation of additional information] (Narrative)
or or
[/8c/[additional information]] (Code)(Narrative)

PRESENCE

Optional

DEFINITION

This field contains additional information which applies to the transaction specified.

CODES

One or more of the following codes may be used in Code, placed between slashes ('/'):

ACC Account with Instructions following are for the account with institution.
institution

INT Intermediary Instructions following are for the intermediary institution.

institution

24 July 2015 31
Category 2 - Financial Institution Transfers for Standards MT November 2015

PHON Telephone Please advise account with institution by phone.

PHONIBK Phone Intermediary Please advise intermediary by phone.

REC Receiver Instructions following are for the Receiver of the message.

TELE Telecommunication Please advise the account with institution by the most efficient
means of telecommunication.

TELEIBK Telecommunication Please advise the intermediary by the most efficient means of
telecommunication.

NETWORK VALIDATED RULES

If the first six characters in line 1 contain the character string /REJT/ or /RETN/, then it is mandatory to follow
the Payments Reject/Return Guidelines described in the Standards MT Usage Guidelines (Error code(s):
T80).

USAGE RULES

Field 72 must never be used for information for which another field is intended.

Each item of information contained in this field must be preceded by a code which specifically indicates the
party for which it is intended.

Codes must be placed between slashes and at the beginning of a line. Additional explanatory information,
which may be continued on the next lines, is preceded by a double slash '//'.

Narrative text that is not qualified by a code, must start with a double slash '//' on a new line, and, should
preferably be the last information in this field.

It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use
of codes in this field are in effect, the code must conform to the structure of this field.

Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the
presence of this field will normally require manual intervention.

This field may contain ERI to transport dual currencies, as specified in the chapter entitled "Euro-Related
Information (ERI)" in the Standards MT General Information.

In order to comply with the EC-directive on cross border credit transfers, the optional code word EXCH may be
used to transport an exchange rate. In line with ERI, the code word EXCH is placed between slashes, followed
by the exchange rate, format 12d, and terminated with another slash.

MT 201 Examples
Narrative

Value 28 May 2009, UBS, Zürich requests ABN Amro Bank, Amsterdam, to transfer euro 61,000 to its
accounts at the following financial institutions:

ING Bank, Amsterdam EUR 5000,

SNS Bank Nederland NV, Amsterdam EUR 7500,

ABN Amro Bank, Rotterdam EUR 12500,

Crédit Lyonnais, Paris EUR 6000,

32 Message Reference Guide

 MT 201 Multiple Financial Institution Transfer for its Own Account

Deutsche Bank AG, Frankfurt by telex through ING EUR 30000,

Bank, Amsterdam

Information Flow

Sender UBS
Zurich

MT

MT 201

Receiver ABN Amro Bank

Amsterdam

Intermediary
56a

ING Bank
Amsterdam

Account
With
57a 57a 57a 57a 57a
Institution
ING Bank SNS Bank ABN Amro Crédit Deutsche
Amsterdam Nederland NV Bank Lyonnais Bank AG

D0020003
Amsterdam Rotterdam Paris Frankfurt

SWIFT Message

Explanation Format

Sender UBSWCHZH80A

Message type 201

Receiver ABNANL2A

Message text

Sum of amounts in the message :19:61000,

Value date :30:090528

Transaction reference number (1) (1) :20:1234/22

Currency code and amount :32B:EUR5000,

Account with institution :57A:INGBNL2A

Transaction reference number (2) (1) :20:1235/22

Currency code and amount :32B:EUR7500,

Account with institution :57A:BBSPNL2A

24 July 2015 33
Category 2 - Financial Institution Transfers for Standards MT November 2015

Explanation Format

Transaction reference number (3) (1) :20:1227/23

Currency code and amount :32B:EUR12500,

Account with institution :57B:ROTTERDAM

Transaction reference number (4) (1) :20:1248/32

Currency code and amount :32B:EUR6000,

Account with institution :57A:CRLYFRPP

Transaction reference number (5) (1) :20:1295/22

Currency code and amount :32B:EUR30000,

Intermediary :56A:INGBNL2A

Account with institution :57A:DEUTDEFF

Sender to Receiver information :72:/TELE/

End of message text/trailer

(1) There are 5 requests for transfer within the message

34 Message Reference Guide

 MT 202 General Financial Institution Transfer

MT 202 General Financial Institution Transfer

MT 202 Scope
This message is sent by or on behalf of the ordering institution directly, or through correspondent(s), to the
financial institution of the beneficiary institution.

It is used to order the movement of funds to the beneficiary institution.

This message may also be sent to a financial institution servicing multiple accounts for the Sender to transfer
funds between these accounts. In addition it can be sent to a financial institution to debit an account of the
Sender serviced by the Receiver and to credit an account, owned by the Sender at an institution specified in
field 57a.

This message must not be used to order the movement of funds related to an underlying customer credit
transfer that was sent with the cover method. For these payments the MT 202 COV or MT 205 COV must be
used.

MT 202 Format Specifications

MT 202 General Financial Institution Transfer
Status Tag Field Name Content/Options No.

M 20 Transaction Reference Number 16x 1

M 21 Related Reference 16x 2

----->

O 13C Time Indication /8c/4!n1!x4!n 3

-----|

M 32A Value Date, Currency Code, Amount 6!n3!a15d 4

O 52a Ordering Institution A or D 5

O 53a Sender's Correspondent A, B, or D 6

O 54a Receiver's Correspondent A, B, or D 7

O 56a Intermediary A or D 8

O 57a Account With Institution A, B, or D 9

M 58a Beneficiary Institution A or D 10

O 72 Sender to Receiver Information 6*35x 11

M = Mandatory, O = Optional

MT 202 Network Validated Rules

C1 If field 56a is present, then field 57a must also be present (Error code(s): C81).

24 July 2015 35
Category 2 - Financial Institution Transfers for Standards MT November 2015

MT 202 Usage Rules

• All parties to the transaction must be financial institutions.

• The transfer of funds between the ordering institution and the beneficiary institution is always related to
another transaction. Field 21 must refer to this transaction.

• If the Sender wishes to instruct the Receiver to debit its account serviced by the Receiver and to credit one
of its several accounts at an institution specified in field 57a, field 58A must contain the number of the
account to be credited and the name of the Sender.

If the Sender wishes to instruct the Receiver that funds are to be moved between two accounts owned by
the Sender and serviced by the Receiver, field 53B must specify the number of the account to be debited
and field 58A the number of the account to be credited and the name of the Sender.

MT 202 Field Specifications

1. Field 20: Transaction Reference Number
FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field specifies the reference assigned by the Sender to unambiguously identify the message.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

2. Field 21: Related Reference

FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field contains a reference to the related transaction

CODES

If the Sender is not the originator of the transaction and no related reference is received, the code NONREF
must be used in this field.

36 Message Reference Guide

 MT 202 General Financial Institution Transfer

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

USAGE RULES

This field will contain a reference to the related transaction which is meaningful to the beneficiary institution,
for example, the common reference in an MT 300 Foreign Exchange Confirmation, field 21 of an MT 202
General Financial Institution Transfer, an MT 205 Financial Institution Transfer Execution or an MT 400 Advice
of Payment.

3. Field 13C: Time Indication

FORMAT

Option C /8c/4!n1!x4!n (Code)(Time indication)(Sign)(Time offset)

PRESENCE

Optional

DEFINITION

This repetitive field specifies one or several time indication(s) related to the processing of the payment
instruction.

CODES

One of the following codes may be used in Code, placed between slashes ('/'):

CLSTIME CLS Time The time by which the funding payment must be credited, with
confirmation, to the CLS Bank's account at the central bank,
expressed in Central European Time (CET).

RNCTIME Receive Time The time at which a TARGET2 payment was credited at the
receiving central bank, expressed in Central European Time
(CET).

SNDTIME Send Time The time at which a TARGET2 payment was debited at the
sending central bank, expressed in Central European Time
(CET).

CODES

One of the following codes must be used in Sign (Error code(s): T15):

+ Plus The + sign.

- Minus The - sign.

NETWORK VALIDATED RULES

Time indication must be a valid time expressed as HHMM (Error code(s): T38).

24 July 2015 37
Category 2 - Financial Institution Transfers for Standards MT November 2015

Time offset is expressed as 'HHMM', where the hour component, that is, 'HH', must be in the range of 00
through 13, and the minute component, that is, 'MM', must be in the range of 00 through 59. Any 'HH' or 'MM'
component outside of these range checks will be disallowed (Error code(s): T16).

USAGE RULES

The time zone in which Time is expressed is to be identified by means of the offset against the UTC
(Coordinated Universal Time - ISO 8601).

EXAMPLE

Assume a financial institution in London is sending a payment instruction on 5 January related to CLS in which
it indicates that money has to be funded to CLS bank by 09.15 CET.

Time indication field will be completed as follows: :13C:/CLSTIME/0915+0100

Explanation:

• 0915 is the time by which the money has to be funded to CLS bank. It has been agreed that CLSTIME is to
be indicated in CET (see codes above).

• +0100 is the offset of CET against UTC in January (that is during winter time).

If the same instruction had been sent on 10 June (that is during summer time), time indication field would have
been completed as follows:

:13C:/CLSTIME/0915+0200

Offsets of local time zones against UTC are published in the BIC Directory download file (TZ***.txt file), which
is available on www.swiftrefdata.com.

4. Field 32A: Value Date, Currency Code, Amount

FORMAT

Option A 6!n3!a15d (Date)(Currency)(Amount)

PRESENCE

Mandatory

DEFINITION

This field specifies the value date, currency and amount to be transferred.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

The codes XAU, XAG, XPD and XPT are not allowed, as these are codes for commodities for which the
category 6 commodities messages must be used (Error code(s): C08).

38 Message Reference Guide

 MT 202 General Financial Institution Transfer

5. Field 52a: Ordering Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional

DEFINITION

This field specifies the ordering institution when other than the Sender of the message.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

SC 6!n UK Domestic Sort Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

24 July 2015 39
Category 2 - Financial Institution Transfers for Standards MT November 2015

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When the Sender of an initial MT 202 is also the ordering institution, that is, this field is not used, that Sender
will be identified in this field in any subsequent messages as the ordering institution.

This field must be forwarded to the beneficiary institution.

The coded information contained in field 52a must be meaningful to the Receiver of the message.

Option A is the preferred option.

Option D should only be used when the ordering financial institution has no BIC.

40 Message Reference Guide

 MT 202 General Financial Institution Transfer

6. Field 53a: Sender's Correspondent

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional

DEFINITION

This field specifies the account or branch of the Sender or another financial institution through which the
Sender will reimburse the Receiver.

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When the Sender instructs the Receiver to transfer funds between two accounts owned by the Sender and
serviced by the Receiver, this field must be used with option B to identify the account to be debited.

In those cases where there are multiple direct account relationships, in the currency of the transaction,
between the Sender and the Receiver, and one of these accounts is to be used for reimbursement, the
account to be credited or debited must be indicated in field 53a, using option B with the party identifier only.

If there is no direct account relationship, in the currency of the transaction, between the Sender and the
Receiver (or branch of the Receiver when specified in field 54a), then field 53a must be present.

When field 53a is present and contains a branch of the Sender, the need for a cover message is dependent on
the currency of the transaction, the relationship between the Sender and the Receiver and the contents of field
54a, if present.

A branch of the Receiver may appear in field 53a if the financial institution providing reimbursement is both the
Sender's correspondent and a branch of the Receiver, and the Sender intends to send a cover message to the
branch of the Receiver. In this case, the Receiver will be paid by its branch in field 53a.

In all other cases, when field 53a is present, a cover message, that is, MT 202/203 or equivalent non-SWIFT,
must be sent to the financial institution identified in field 53a.

When field 53B is used to specify a branch city name, it must always be a branch of the Sender.

The absence of fields 53a and 54a implies that the single direct account relationship between the Sender and
Receiver, in the currency of the transfer, will be used.

The use and interpretation of fields 53a and 54a is, in all cases, dictated by the currency of the transaction and
the correspondent relationship between the Sender and the Receiver relative to that currency.

24 July 2015 41
Category 2 - Financial Institution Transfers for Standards MT November 2015

7. Field 54a: Receiver's Correspondent

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional

DEFINITION

This field specifies the branch of the Receiver or another financial institution at which the funds will be made
available to the Receiver.

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

The absence of fields 53a and/or 54a implies that the single direct account relationship between the Sender
and Receiver, in the currency of the transfer, will be used.

In those cases where field 54a contains a branch of the Receiver, and is not preceded by field 53a, or field
53a contains an account of the Sender serviced by the Receiver's branch, the Receiver will claim
reimbursement from its branch.

If field 54a contains a branch of the Receiver and field 53a contains a branch of the Sender, the Receiver will
claim reimbursement from its branch or will be paid by its branch, depending on the currency of the transfer
and the relationship between the Sender and the Receiver.

In all other cases where field 54a contains a branch of the Receiver, the Receiver will be paid by its branch in
field 54a.

A branch of the Sender must not appear in field 54a.

If the branch of the Sender or other financial institution specified in field 53a is also the account servicer for the
Receiver, field 54a must not be present.

Field 54a containing the name of a financial institution other than the Receiver's branch must be preceded by
field 53a; the Receiver will be paid by the financial institution in field 54a.

The use and interpretation of fields 53a and 54a is in all cases dictated by the currency of the transaction and
the correspondent relationship between the Sender and the Receiver relative to that currency.

42 Message Reference Guide

 MT 202 General Financial Institution Transfer

8. Field 56a: Intermediary

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional

DEFINITION

This field specifies the financial institution through which the transaction must pass to reach the account with
institution.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

24 July 2015 43
Category 2 - Financial Institution Transfers for Standards MT November 2015

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

44 Message Reference Guide

 MT 202 General Financial Institution Transfer

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

9. Field 57a: Account With Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Conditional (see rule C1)

DEFINITION

This field identifies the financial institution which will pay or credit the beneficiary institution.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

24 July 2015 45
Category 2 - Financial Institution Transfers for Standards MT November 2015

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

46 Message Reference Guide

 MT 202 General Financial Institution Transfer

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When field 57a is not present, it means that the Receiver is also the account with institution.

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

10. Field 58a: Beneficiary Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Mandatory

DEFINITION

This field specifies the financial institution which has been designated by the ordering institution as the
ultimate recipient of the funds being transferred.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

24 July 2015 47
Category 2 - Financial Institution Transfers for Standards MT November 2015

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

48 Message Reference Guide

 MT 202 General Financial Institution Transfer

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When the Sender instructs the Receiver to either credit one of several accounts owned by the Sender at an
institution specified in field 57a, or transfer funds between two accounts owned by the Sender and serviced by
the Receiver, option A must be used to specify the account to be credited and the name of the Sender.

It is strongly recommended that when clearing payments take precedence over book transfer and book
transfer is requested, Party Identifier be used to specify the account of the beneficiary.

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

11. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative Structured Format)

The following line formats must be used:

Line 1 /8c/[additional information] (Code)(Narrative)

24 July 2015 49
Category 2 - Financial Institution Transfers for Standards MT November 2015

Lines 2-6 [//continuation of additional information] (Narrative)

or or
[/8c/[additional information]] (Code)(Narrative)

PRESENCE

Optional

DEFINITION

This field specifies additional information for the Receiver.

CODES

One or more of the following codes may be used in Code, placed between slashes ('/'):

ACC Account with Instructions following are for the account with institution.
institution

BNF Beneficiary Information following is for the beneficiary.

INS Instructing The instructing institution which instructed the Sender or

institution previous institution in the transaction chain, to execute the
transaction.

INT Intermediary Instructions following are for the intermediary institution.

institution

PHON Telephone Please advise account with institution by phone.

PHONBEN Telephone Please advise/contact beneficiary/claimant by phone.

Beneficiary

PHONIBK Phone Intermediary Please advise intermediary by phone.

REC Receiver Instructions following are for the Receiver of the message.

TELE Telecommunication Please advise the account with institution by the most efficient
means of telecommunication.

TELEBEN Telecommunication Please advise the beneficiary/claimant by the most efficient

means of telecommunication.

TELEIBK Telecommunication Please advise the intermediary by the most efficient means of
telecommunication.

TSU Trade Services The code placed between slashes ('/') must be followed by the
Utility transaction TSU transaction identifier, a slash ('/'), the invoice number, a
slash ('/') and the amount paid.

NETWORK VALIDATED RULES

If the first six characters in line 1 contain the character string /REJT/ or /RETN/, then it is mandatory to follow
the Payments Reject/Return Guidelines described in the Standards MT Usage Guidelines (Error code(s):
T80).

USAGE RULES

Field 72 must never be used for information for which another field is intended.

50 Message Reference Guide

 MT 202 General Financial Institution Transfer

Each item of information contained in this field must be preceded by a code which specifically indicates the
party for which it is intended.

Codes must be placed between slashes and at the beginning of a line. Additional explanatory information,
which may be continued on the next lines, is preceded by a double slash '//'.

Narrative text that is not qualified by a code, must start with a double slash '//' on a new line, and, should
preferably be the last information in this field.

It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use
of codes in this field are in effect, the code must conform to the structure of this field.

Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the
presence of this field will normally require manual intervention.

This field may contain ERI to transport dual currencies, as specified in the chapter entitled "Euro-Related
Information (ERI)" in the Standards MT General Information.

In order to comply with the EC-directive on cross border credit transfers, the optional code word EXCH may be
used to transport an exchange rate. In line with ERI, the code word EXCH is placed between slashes, followed
by the exchange rate, format 12d, and terminated with another slash.

The code INS may be repeated to specify all previously involved financial institutions in the transaction chain.

Instructing institutions should be indicated in the order in which they were involved in the transaction chain,
that is, the first occurrence specifies the financial institution that received the instruction from the ordering
institution and passed it on to the next institution in the transaction chain; the last occurrence always indicates
the institution that instructed the sender of this message to execute the transaction.

MT 202 Examples
Example 1: MT 202 with Time Indication
Narrative

On 5 January, a CLS settlement member (BANKGB2L) receives an instruction from CLS Bank to fund JPY
5,000,000 by 07.00 AM CET to CLS Bank.

BANKGB2L sends an MT 202 to their JPY nostro correspondent (BANKJPJT), indicating that the funds need
to be credited to CLS Bank by 07.00 AM CET.

24 July 2015 51
Category 2 - Financial Institution Transfers for Standards MT November 2015

Information Flow

MT300

MT300
BANKGB2L BANKUS33

Pay in
MT202 Schedule

CLS Bank

MT202
or local clearing
BANKJPJT equivalent Central Bank
of Japan

D0020021
SWIFT Message

In the MT 202 which BANKGB2L sends to its JPY correspondent BANKJPJT, it can indicate the time by which
BANKJPJT has to credit the funds to CLS bank as follows: :13C:/CLSTIME/0700+0100

whereby

• 0700 is the time by which the funds have to be credited to CLS Bank. By convention CLS time instructions
are quoted in CET.

• +0100 is the offset (during wintertime) of CET against UTC.

Upon receipt of the MT 202, BANKJPJT can recalculate the CET time indication into its local time by
comparing the offset in 13C to its own offset against UTC. Japan is UTC +0900, therefore BANKJPJT knows it
has to process the instruction before 15.00 local time in Japan.

Offsets of local delta time zones against UTC are published in the BIC Directory download file (TZ***.txt file),
which is available on www.swiftrefdata.com.

52 Message Reference Guide

 MT 202 COV General Financial Institution Transfer

MT 202 COV General Financial Institution Transfer

The MT 202 COV is a General Use message, that is, no registration in a Message User Group is necessary to
send and receive this message.

The message contains a mandatory sequence to include information on an underlying customer credit transfer
and has a maximum message length of 10,000 characters.

IMPORTANT: To trigger the MT 202 COV format validation, the user header of the message (block 3)
is mandatory and must contain the code COV in the validation flag field 119
({3:{119:COV}}).

MT 202 COV Scope

This message is sent by or on behalf of the ordering institution directly, or through correspondent(s), to the
financial institution of the beneficiary institution.

It must only be used to order the movement of funds related to an underlying customer credit transfer that was
sent with the cover method.

The MT 202 COV must not be used for any other interbank transfer. For these transfers the MT 202 must be
used.

MT 202 COV Format Specifications

The MT 202 COV consists of two sequences:

• Sequence A General Information is a single occurrence sequence and contains information on the
financial institution transfer between the ordering institution and beneficiary institution.

• Sequence B Underlying Customer Credit Transfer Details is a single occurrence sequence and is used to
provide details on an individual underlying customer credit transfer that was sent with the cover method.

MT 202 COV General Financial Institution Transfer

Status Tag Field Name Content/Options No.

Mandatory Sequence A General Information

M 20 Transaction Reference Number 16x 1

M 21 Related Reference 16x 2

----->

O 13C Time Indication /8c/4!n1!x4!n 3

-----|

M 32A Value Date, Currency Code, Amount 6!n3!a15d 4

O 52a Ordering Institution A or D 5

O 53a Sender's Correspondent A, B, or D 6

O 54a Receiver's Correspondent A, B, or D 7

O 56a Intermediary A or D 8

24 July 2015 53
Category 2 - Financial Institution Transfers for Standards MT November 2015

Status Tag Field Name Content/Options No.

O 57a Account With Institution A, B, or D 9

M 58a Beneficiary Institution A or D 10

O 72 Sender to Receiver Information 6*35x 11

End of Sequence A General Information

Mandatory Sequence B Underlying Customer Credit Transfer Details

M 50a Ordering Customer A, F, or K 12

O 52a Ordering Institution A or D 13

O 56a Intermediary Institution A, C, or D 14

O 57a Account With Institution A, B, C, or D 15

M 59a Beneficiary Customer No letter option, A, or F 16

O 70 Remittance Information 4*35x 17

O 72 Sender to Receiver Information 6*35x 18

O 33B Currency/Instructed Amount 3!a15d 19

End of Sequence B Underlying Customer Credit Transfer Details

M = Mandatory, O = Optional

MT 202 COV Network Validated Rules

C1 If field 56a is present in sequence A, then field 57a must also be present in sequence A (Error code(s):
C81).

C2 If field 56a is present in sequence B, then field 57a must also be present in sequence B (Error code(s):
C68).

MT 202 COV Usage Rules

• All parties to the financial institution transfer (Sequence A) must be financial institutions.

• The transfer of funds between the ordering institution and the beneficiary institution is always related to an
underlying customer credit transfer. Field 21 must refer to the underlying transaction.

• The MT 202 COV must not be used to convey customer credit transfer instructions; it is used to order the
movement of funds related to an underlying customer credit transfer that was sent with the cover method.

• Where an inward MT 202 COV results in an onward MT 202 COV or MT 205 COV, the reference from field
21 of the inward message must be passed on unchanged in field 21 of the onward message.

• The MT 202 COV must not be forwarded to the beneficiary financial institution for reporting purposes.

MT 202 COV Market Practice Rules

Guidelines for the use of the message have been published by the Payments Market Practice Group (PMPG).

54 Message Reference Guide

 MT 202 COV General Financial Institution Transfer

For more details, see the market practice document Guidelines for use of the MT 202 COV on
www.pmpg.info.

MT 202 COV Field Specifications

1. Field 20: Transaction Reference Number
FORMAT

16x

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field specifies the reference assigned by the Sender to unambiguously identify the message.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

2. Field 21: Related Reference

FORMAT

16x

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field contains a reference to the related transaction(s).

CODES

If no related reference is available, the code NONREF must be used in this field.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

USAGE RULES

If the related message is an MT 103 Single Customer Credit Transfer, this field will contain field 20 Sender's
Reference of that MT 103.

If an incoming message is an MT 202 COV and results in an outgoing MT 202 COV, this field will contain field
21 Related Reference of the incoming message.

24 July 2015 55
Category 2 - Financial Institution Transfers for Standards MT November 2015

3. Field 13C: Time Indication

FORMAT

Option C /8c/4!n1!x4!n (Code)(Time indication)(Sign)(Time offset)

PRESENCE

Optional in mandatory sequence A

DEFINITION

This repetitive field specifies one or several time indication(s) related to the processing of the payment
instruction.

CODES

One of the following codes may be used in Code, placed between slashes ('/'):

CLSTIME CLS Time The time by which the funding payment must be credited, with
confirmation, to the CLS Bank's account at the central bank,
expressed in Central European Time (CET).

RNCTIME Receive Time The time at which a TARGET2 payment was credited at the
receiving central bank, expressed in Central European Time
(CET).

SNDTIME Send Time The time at which a TARGET2 payment was debited at the
sending central bank, expressed in Central European Time
(CET).

CODES

One of the following codes must be used in Sign (Error code(s): T15):

+ Plus The + sign.

- Minus The - sign.

NETWORK VALIDATED RULES

Time indication must be a valid time expressed as HHMM (Error code(s): T38).

Time offset is expressed as 'HHMM', where the hour component, that is, 'HH', must be in the range of 00
through 13, and the minute component, that is, 'MM', must be in the range of 00 through 59. Any 'HH' or 'MM'
component outside of these range checks will be disallowed (Error code(s): T16).

USAGE RULES

The time zone in which Time is expressed is to be identified by means of the offset against the UTC
(Coordinated Universal Time - ISO 8601).

EXAMPLE

Assume a financial institution in London is sending a payment instruction on 5 January related to CLS in which
it indicates that money has to be funded to CLS bank by 09.15 CET.

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 MT 202 COV General Financial Institution Transfer

Time indication field will be completed as follows: :13C:/CLSTIME/0915+0100

Explanation:

• 0915 is the time by which the money has to be funded to CLS bank. It has been agreed that CLSTIME is to
be indicated in CET (see codes above).

• +0100 is the offset of CET against UTC in January (that is during winter time).

If the same instruction had been sent on 10 June (that is during summer time), time indication field would have
been completed as follows:

:13C:/CLSTIME/0915+0200

Offsets of local time zones against UTC are published in the BIC Directory download file (TZ***.txt file), which
is available on www.swiftrefdata.com.

4. Field 32A: Value Date, Currency Code, Amount

FORMAT

Option A 6!n3!a15d (Date)(Currency)(Amount)

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field specifies the value date, currency and amount to be transferred.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

The codes XAU, XAG, XPD and XPT are not allowed, as these are codes for commodities for which the
category 6 commodities messages must be used (Error code(s): C08).

5. Field 52a: Ordering Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional in mandatory sequence A

24 July 2015 57
Category 2 - Financial Institution Transfers for Standards MT November 2015

DEFINITION

This field specifies the ordering institution when other than the Sender of the message.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

SC 6!n UK Domestic Sort Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

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 MT 202 COV General Financial Institution Transfer

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When the Sender of an initial MT 202 COV is also the ordering institution, that is, this field is not used, that
Sender will be identified in this field in any subsequent messages as the ordering institution.

This field must be forwarded to the beneficiary institution.

The coded information contained in field 52a must be meaningful to the Receiver of the message.

Option A is the preferred option.

Option D should only be used when the ordering financial institution has no BIC.

6. Field 53a: Sender's Correspondent

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional in mandatory sequence A

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Category 2 - Financial Institution Transfers for Standards MT November 2015

DEFINITION

This field specifies the account or branch of the Sender or another financial institution through which the
Sender will reimburse the Receiver.

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When the Sender instructs the Receiver to transfer funds between two accounts owned by the Sender and
serviced by the Receiver, this field must be used with option B to identify the account to be debited.

In those cases where there are multiple direct account relationships, in the currency of the transaction,
between the Sender and the Receiver, and one of these accounts is to be used for reimbursement, the
account to be credited or debited must be indicated in field 53a, using option B with the party identifier only.

If there is no direct account relationship, in the currency of the transaction, between the Sender and the
Receiver (or branch of the Receiver when specified in field 54a), then field 53a must be present.

When field 53a is present and contains a branch of the Sender, the need for a cover message is dependent on
the currency of the transaction, the relationship between the Sender and the Receiver and the contents of field
54a, if present.

A branch of the Receiver may appear in field 53a if the financial institution providing reimbursement is both the
Sender's correspondent and a branch of the Receiver, and the Sender intends to send a cover message to the
branch of the Receiver. In this case, the Receiver will be paid by its branch in field 53a.

In all other cases, when field 53a is present, a cover message, that is, MT 202 COV or equivalent non-SWIFT,
must be sent to the financial institution identified in field 53a.

When field 53B is used to specify a branch city name, it must always be a branch of the Sender.

The absence of fields 53a and 54a implies that the single direct account relationship between the Sender and
Receiver, in the currency of the transfer, will be used.

The use and interpretation of fields 53a and 54a is, in all cases, dictated by the currency of the transaction and
the correspondent relationship between the Sender and the Receiver relative to that currency.

7. Field 54a: Receiver's Correspondent

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional in mandatory sequence A

60 Message Reference Guide

 MT 202 COV General Financial Institution Transfer

DEFINITION

This field specifies the branch of the Receiver or another financial institution at which the funds will be made
available to the Receiver.

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

The absence of fields 53a and/or 54a implies that the single direct account relationship between the Sender
and Receiver, in the currency of the transfer, will be used.

In those cases where field 54a contains a branch of the Receiver, and is not preceded by field 53a, or field
53a contains an account of the Sender serviced by the Receiver's branch, the Receiver will claim
reimbursement from its branch.

If field 54a contains a branch of the Receiver and field 53a contains a branch of the Sender, the Receiver will
claim reimbursement from its branch or will be paid by its branch, depending on the currency of the transfer
and the relationship between the Sender and the Receiver.

In all other cases where field 54a contains a branch of the Receiver, the Receiver will be paid by its branch in
field 54a.

A branch of the Sender must not appear in field 54a.

If the branch of the Sender or other financial institution specified in field 53a is also the account servicer for the
Receiver, field 54a must not be present.

Field 54a containing the name of a financial institution other than the Receiver's branch must be preceded by
field 53a; the Receiver will be paid by the financial institution in field 54a.

The use and interpretation of fields 53a and 54a is in all cases dictated by the currency of the transaction and
the correspondent relationship between the Sender and the Receiver relative to that currency.

8. Field 56a: Intermediary

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional in mandatory sequence A

DEFINITION

This field specifies the financial institution through which the transaction must pass to reach the account with
institution.

24 July 2015 61
Category 2 - Financial Institution Transfers for Standards MT November 2015

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

62 Message Reference Guide

 MT 202 COV General Financial Institution Transfer

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

9. Field 57a: Account With Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)

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Category 2 - Financial Institution Transfers for Standards MT November 2015

Option B [/1!a][/34x] (Party Identifier)

[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Conditional (see rule C1) in mandatory sequence A

DEFINITION

This field identifies the financial institution which will pay or credit the beneficiary institution.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

64 Message Reference Guide

 MT 202 COV General Financial Institution Transfer

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When field 57a is not present, it means that the Receiver is also the account with institution.

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

24 July 2015 65
Category 2 - Financial Institution Transfers for Standards MT November 2015

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

10. Field 58a: Beneficiary Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field specifies the financial institution which has been designated by the ordering institution as the
ultimate recipient of the funds being transferred.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

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 MT 202 COV General Financial Institution Transfer

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

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Category 2 - Financial Institution Transfers for Standards MT November 2015

USAGE RULES

When the Sender instructs the Receiver to either credit one of several accounts owned by the Sender at an
institution specified in field 57a, or transfer funds between two accounts owned by the Sender and serviced by
the Receiver, option A must be used to specify the account to be credited and the name of the Sender.

It is strongly recommended that when clearing payments take precedence over book transfer and book
transfer is requested, Party Identifier be used to specify the account of the beneficiary.

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

11. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative Structured Format)

The following line formats must be used:

Line 1 /8c/[additional information] (Code)(Narrative)

Lines 2-6 [//continuation of additional information] (Narrative)
or or
[/8c/[additional information]] (Code)(Narrative)

PRESENCE

Optional in mandatory sequence A

DEFINITION

This field specifies additional information for the Receiver.

CODES

One or more of the following codes may be used in Code, placed between slashes ('/'):

ACC Account with Instructions following are for the account with institution.
institution

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 MT 202 COV General Financial Institution Transfer

BNF Beneficiary Information following is for the beneficiary.

INS Instructing The instructing institution which instructed the Sender or

institution previous institution in the transaction chain, to execute the
transaction.

INT Intermediary Instructions following are for the intermediary institution.

institution

PHON Telephone Please advise account with institution by phone.

PHONBEN Telephone Please advise/contact beneficiary/claimant by phone.

Beneficiary

PHONIBK Phone Intermediary Please advise intermediary by phone.

REC Receiver Instructions following are for the Receiver of the message.

TELE Telecommunication Please advise the account with institution by the most efficient
means of telecommunication.

TELEBEN Telecommunication Please advise the beneficiary/claimant by the most efficient

means of telecommunication.

TELEIBK Telecommunication Please advise the intermediary by the most efficient means of
telecommunication.

TSU Trade Services The code placed between slashes ('/') must be followed by the
Utility transaction TSU transaction identifier, a slash ('/'), the invoice number, a
slash ('/') and the amount paid.

NETWORK VALIDATED RULES

If the first six characters in line 1 contain the character string /REJT/ or /RETN/, then it is mandatory to follow
the Payments Reject/Return Guidelines described in the Standards MT Usage Guidelines (Error code(s):
T80).

USAGE RULES

Field 72 must never be used for information for which another field is intended.

Each item of information contained in this field must be preceded by a code which specifically indicates the
party for which it is intended.

Codes must be placed between slashes and at the beginning of a line. Additional explanatory information,
which may be continued on the next lines, is preceded by a double slash '//'.

Narrative text that is not qualified by a code, must start with a double slash '//' on a new line, and, should
preferably be the last information in this field.

It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use
of codes in this field are in effect, the code must conform to the structure of this field.

Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the
presence of this field will normally require manual intervention.

This field may contain ERI to transport dual currencies, as specified in the chapter entitled "Euro-Related
Information (ERI)" in the Standards MT General Information.

In order to comply with the EC-directive on cross border credit transfers, the optional code word EXCH may be
used to transport an exchange rate. In line with ERI, the code word EXCH is placed between slashes, followed
by the exchange rate, format 12d, and terminated with another slash.

24 July 2015 69
Category 2 - Financial Institution Transfers for Standards MT November 2015

The code INS may be repeated to specify all previously involved financial institutions in the transaction chain.

Instructing institutions should be indicated in the order in which they were involved in the transaction chain,
that is, the first occurrence specifies the financial institution that received the instruction from the ordering
institution and passed it on to the next institution in the transaction chain; the last occurrence always indicates
the institution that instructed the sender of this message to execute the transaction.

12. Field 50a: Ordering Customer

FORMAT

Option A [/34x] (Account)

4!a2!a2!c[3!c] (Identifier Code)
Option F 35x (Party Identifier)
4*35x (Name and Address)
Option K [/34x] (Account)
4*35x (Name and Address)

In option F, the following line formats must be used (Error code(s): T54):

Line 1 (subfield Party /34x (Account)

Identifier)
Lines 2-5 (subfield 1!n/33x (Number)(Details)
Name and Address)

Or

Line 1 (subfield Party 4!a/2!a/27x (Code)(Country Code)(Identifier)

Identifier)
Lines 2-5 (subfield 1!n/33x (Number)(Details)
Name and Address)

PRESENCE

Mandatory in mandatory sequence B

DEFINITION

This field specifies the customer ordering the transaction.

CODES

In option F, when Party Identifier is used with the (Code)(Country Code)(Identifier) format, one of the following
codes must be used in Code (Error code(s): T55):

ARNU Alien Registration The code followed by a slash, '/' must be followed by the ISO country
Number code, a slash, '/' and the Alien Registration Number.

CCPT Passport Number The code followed by a slash, '/' must be followed by the ISO country
code, a slash, '/' and the Passport Number.

CUST Customer The code followed by a slash, '/' must be followed by the ISO country
Identification code of the issuer of the number, a slash, '/', the issuer of the number,
Number a slash, '/' and the Customer Identification Number.

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DRLC Driver's Licence The code followed by a slash, '/' must be followed by the ISO country
Number code of the issuing authority, a slash, '/', the issuing authority, a slash,
'/' and the Driver's Licence Number.

EMPL Employer Number The code followed by a slash, '/' must be followed by the ISO country
code of the registration authority, a slash, '/', the registration authority,
a slash, '/' and the Employer Number.

NIDN National Identity The code followed by a slash, '/' must be followed by the ISO country
Number code, a slash, '/' and the National Identity Number.

SOSE Social Security The code followed by a slash, '/' must be followed by the ISO country
Number code, a slash, '/' and the Social Security Number.

TXID Tax Identification The code followed by a slash, '/' must be followed by the ISO country
Number code, a slash, '/' and the Tax Identification Number.

CODES

In option F, Number must contain one of the following values (Error code(s): T56):

1 Name of the The number followed by a slash, '/' must be followed by the name of
Ordering Customer the ordering customer.

2 Address Line The number followed by a slash, '/' must be followed by an Address
Line (Address Line can be used to provide for example, street name
and number, or building name).

3 Country and Town The first occurrence of number 3 must be followed by a slash, '/', the
ISO country code, and optionally a slash '/' followed by additional
details.
Other occurrence(s) of number 3 must be followed by a slash '/' and
the continuation of additional details.
Additional details can contain town, which can be complemented by
postal code (for example zip) and country subdivision (for example
state, province, or county).
It is preferred that the country code and town indicate the country and
town of residence.

4 Date of Birth The number followed by a slash, '/' must be followed by the Date of
Birth in the YYYYMMDD format.

5 Place of Birth The number followed by a slash, '/' must be followed by the ISO
country code, a slash '/' and the Place of Birth.

6 Customer The number followed by a slash, '/' must be followed by the ISO
Identification country code, a slash, '/', the issuer of the number, a slash, '/' and the
Number Customer Identification Number.

7 National Identity The number followed by a slash, '/' must be followed by the ISO
Number country code, a slash, '/' and the National Identity Number.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

8 Additional
Information The number followed by a slash, '/' is followed by information
completing one of the following:

• the Identifier provided in subfield 1 (Party Identifier) used with the

(Code)(Country Code)(Identifier) format.

• the Customer Identification Number provided in subfield 2 (Name

and Address) with number 6.

• the National Identity Number provided in subfield 2 (Name and

Address) with number 7.

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

In option F, subfield 1 (Party Identifier) used with the (Code)(Country Code)(Identifier) format: Country Code
must be a valid ISO country code (Error code(s): T73).

In option F, subfield 2 (Name and Address):

• The first line must start with number 1 (Error code(s): T56).

• Numbers must appear in numerical order (Error code(s): T56).

• Number 2 must not be used without number 3 (Error code(s): T56).

• The first occurrence of number 3 must be followed by a valid ISO country code (Error code(s): T73).

• Number 4 must not be used without number 5 and vice versa (Error code(s): T56).

• Number 4 must be followed by a valid date in the format YYYYMMDD and this date, local to the sender,
must not be later than the date on which the message is successfully sent to SWIFT (Error code(s): T50).

• Numbers 5, 6 and 7 must be followed by a valid ISO country code (Error code(s): T73), a slash '/' and
additional Details (Error code(s): T56).

• Numbers 4, 5, 6, 7 and 8 must not be repeated (Error code(s): T56).

• The use of number 8 is only allowed in the following instances (Error code(s): T56):

◦ to continue information on the Identifier of the ordering customer provided in subfield 1 (Party Identifier)
used with the (Code)(Country Code)(Identifier) format.

◦ to continue information on the Customer Identification Number provided in subfield 2 (Name and
Address) following number 6.

◦ to continue information on the National Identity Number provided in subfield 2 (Name and Address)
following number 7.

USAGE RULES

The field must contain the ordering customer of the underlying customer credit transfer that was sent with the
cover method.

MARKET PRACTICE RULES

Guidelines for the use of this field have been published by the Payments Market Practice Group (PMPG).

For more details, see the relevant market practice document on www.pmpg.info.

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13. Field 52a: Ordering Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional in mandatory sequence B

DEFINITION

This field specifies the financial institution of the ordering customer, when different from the Sender, even if
field 50a contains an IBAN.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

SC 6!n UK Domestic Sort Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

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Category 2 - Financial Institution Transfers for Standards MT November 2015

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

If the Ordering Institution field was present in the underlying customer credit transfer message that was sent
with the cover method, then this field must carry that Ordering Institution.

14. Field 56a: Intermediary Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option C /34x (Party Identifier)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

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PRESENCE

Optional in mandatory sequence B

DEFINITION

This field specifies the financial institution through which the transaction must pass to reach the account with
institution.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

NZ 6!n New Zealand National Clearing Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

CODES

In option C, or D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

24 July 2015 75
Category 2 - Financial Institution Transfers for Standards MT November 2015

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

NZ 6!n New Zealand National Clearing Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

If the Intermediary Institution field was present in the underlying customer credit transfer message that was
sent with the cover method, then this field must carry that Intermediary Institution.

15. Field 57a: Account With Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option C /34x (Party Identifier)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

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PRESENCE

Conditional (see rule C2) in mandatory sequence B

DEFINITION

This field specifies the financial institution which services the account for the beneficiary customer. This is
applicable even if field 59a contains an IBAN.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

NZ 6!n New Zealand National Clearing Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option C, or D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

24 July 2015 77
Category 2 - Financial Institution Transfers for Standards MT November 2015

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

NZ 6!n New Zealand National Clearing Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

If the Account With Institution field was present in the underlying customer credit transfer message that was
sent with the cover method, then this field must carry that Account With Institution.

16. Field 59a: Beneficiary Customer

FORMAT

No letter option [/34x] (Account)

4*35x (Name and Address)
Option A [/34x] (Account)
4!a2!a2!c[3!c] (Identifier Code)
Option F [/34x] (Account)
4*(1!n/33x) (Number)/(Name and Address Details)

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PRESENCE

Mandatory in mandatory sequence B

DEFINITION

This field specifies the customer which will be paid.

CODES

Account may contain one of the following codes, preceded by a double slash '//':

CH 6!n CHIPS Universal Identifier

CODES

In option F, Number must contain one of the following values (Error code(s): T56):

1 Name of the The number followed by a slash, '/' must be followed by the name of
Beneficiary the beneficiary customer.
Customer

2 Address Line The number followed by a slash, '/' must be followed by an Address
Line (Address Line can be used to provide for example, street name
and number, building name or post office box number).

3 Country and Town The first occurrence of number 3 must be followed by a slash, '/', the
ISO country code, and optionally a slash '/' followed by additional
details.
Other occurrence(s) of number 3 must be followed by a slash '/' and
the continuation of additional details.
Additional details can contain Town, which can be complemented by
postal code (for example zip) and country subdivision (for example,
state, province, or county).
It is preferred that the country code and town indicate the country and
town of residence, as provided by the ordering customer.

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

In option F, for subfields (Number)(Name and Address Details):

• The first line must start with number 1 (Error code(s): T56).

• Numbers must appear in numerical order (Error code(s): T56).

• Number 2 must not be used without number 3 (Error code(s): T56).

• The first occurrence of number 3 must be followed by a valid ISO country code (Error code(s): T73).

USAGE RULES

The field must contain the beneficiary customer of the underlying customer credit transfer that was sent with
the cover method.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

17. Field 70: Remittance Information

FORMAT

4*35x (Narrative)

PRESENCE

Optional in mandatory sequence B

DEFINITION

This field specifies either the details of the individual transaction or a reference to another message containing
the details which are to be transmitted to the beneficiary customer.

CODES

One of the following codes may be used, placed between slashes ('/'):

INV Invoice Invoice (followed by the date, reference and details of the invoice).

IPI International Unique reference identifying a related International Payment

Payment Instruction (followed by up to 20 characters).
Instruction

RFB Reference for Reference for the beneficiary customer (followed by up to 16

Beneficiary characters).

ROC Reference of Ordering customer's reference.

Customer

TSU Trade Services The code placed between slashes ('/') must be followed by the TSU
Utility transaction transaction identifier, a slash ('/'), the invoice number, a slash ('/') and
the amount paid.

USAGE RULES

If the Remittance Information field was present in the underlying customer credit transfer message that was
sent with the cover method, then this field must carry that Remittance Information.

18. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative Structured Format)

The following line formats must be used:

Line 1 /8c/[additional information] (Code)(Narrative)

Lines 2-6 [//continuation of additional information] (Narrative)
or or
[/8c/[additional information]] (Code)(Narrative)

PRESENCE

Optional in mandatory sequence B

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 MT 202 COV General Financial Institution Transfer

DEFINITION

This field specifies additional information for the Receiver or other party specified.

CODES

Unless bilaterally agreed otherwise between the Sender and the Receiver, one of the following codes must be
used in Code, placed between slashes ('/'):

ACC Account with Instructions following are for the account with institution.
institution

INS Instructing The instructing institution which instructed the Sender or previous
institution institution in the transaction chain, to execute the transaction.

INT Intermediary Instructions following are for the intermediary institution.

institution

REC Receiver Instructions following are for the Receiver of the message.

USAGE RULES

If the Sender to Receiver Information field was present in the underlying customer credit transfer message that
was sent with the cover method, then this field must carry that Sender to Receiver Information.

19. Field 33B: Currency/Instructed Amount

FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

Optional in mandatory sequence B

DEFINITION

This field specifies the currency and amount of the instruction. This amount is provided for information
purposes and has to be transported unchanged through the transaction chain.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

USAGE RULES

If the Currency/Instructed Amount field was present in the underlying customer credit transfer message that
was sent with the cover method, then this field must carry that Currency/Instructed Amount.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

MT 202 COV Examples

Example 1: MT 202 COV as cover of MT 103
Narrative

Value 27 May 2009, Mr. Big orders Bank A, Brussels to pay an invoice with number 1234 of USD 10,500.00 to
Mr. Small who has an account 987654321 with Bank B, London.

Bank A processes this transaction through cover method by sending:

A. A customer credit transfer message MT 103 to Bank B, using reference 090525/123COV.

B. A message MT 202 COV with reference 090525/124COV for the USD payment to its USD correspondent
Bank C, New York for credit of Bank B, London on their account 123444555 at Bank D, New York.

Information Flow

Ordering Mr. Big

Customer Brussels
Message B
MT Bank A
Sender
Brussels
MT 202
COV

Sender's Bank C
Correspondent Message A New York
MT
MT 202
COV or
MT 103 equivalent
Receiver's Bank D
Correspondent New York

Bank B
Receiver
London
MT 910/950

Beneficiary Mr. Small D0020023

Customer London

Message A SWIFT MT 103 Single Customer Credit Transfer

SWIFT Message, MT 103

Explanation Format

Sender AAAABEBB

Message type 103

Receiver BBBBGB22

Message text

Sender's reference :20:090525/123COV

Bank operation code :23B:CRED

Value date/currency code/amount :32A:090527USD10500,00

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Explanation Format

Currency/Instructed Amount :33B:USD10500,00

Ordering customer :50F:/123564982101

1/MR. BIG
2/HIGH STREET 3
3/BE/BRUSSELS

Sender's correspondent :53A:CCCCUS33

Receiver's correspondent :54A:DDDDUS33

Beneficiary customer :59F:/987654321

1/MR. SMALL
2/LOW STREET 15
3/GB/LONDON

Remittance information :70:/INV/1234

Details of charges :71A:SHA

End of message text/trailer

Message B SWIFT MT 202 COV

Information Flow

Message B Bank A
Sender MT Brussels

MT 202
COV Bank C
Receiver
New York
Message A
MT 202
MT COV or
equivalent
MT103
Account with Bank D
Institution New York

Beneficiary Bank B
Institution MT 910/950 London
D0020024

SWIFT Message, MT 202 COV

Explanation Format

Sender AAAABEBB

Message type 202

Receiver CCCCUS33

Validation flag 119:COV

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Category 2 - Financial Institution Transfers for Standards MT November 2015

Explanation Format

Message Text: General Information

Transaction reference number :20:090525/124COV

Related reference (1) :21:090525/123COV

Value date/currency code/amount :32A:090527USD10500,00

Account with Institution :57A:DDDDUS33

Beneficiary institution :58A:BBBBGB22

Underlying Customer Credit Transfer Details

Ordering customer :50F:/123564982101

1/MR. BIG
2/HIGH STREET 3
3/BE/BRUSSELS

Beneficiary customer :59F:/987654321

1/MR. SMALL
2/LOW STREET 15
3/GB/LONDON

Remittance information :70:/INV/1234

Currency/Instructed Amount :33B:USD10500,00

End of message text/trailer

(1) The related reference is the Sender's Reference of the MT 103 Customer Credit Transfer.

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 MT 203 Multiple General Financial Institution Transfer

MT 203 Multiple General Financial Institution Transfer

MT 203 Scope
This multiple message is sent by or on behalf of the ordering institution directly, or through correspondent(s),
to the financial institution(s) of several beneficiary institution(s). The message contains several transactions.

It is used to order the movement of funds to each beneficiary institution.

This message may also contain order(s) for the movement of the Sender's own funds in favour of itself. This is
the case when the Receiver services multiple accounts for the Sender and the funds are to be transferred
between these accounts. In addition, it can be sent to a financial institution to debit an account of the Sender
serviced by the Receiver and to credit an account owned by the Sender at an institution specified in field 57a.

MT 203 Format Specifications

The MT 203 consists of two types of sequences:

• The first sequence provides details of the transaction between the Sender and Receiver, that is, the value
date and total amount to be transferred, as well as any other information about this transaction, as
necessary.

• The second sequence must appear at least twice and, in order to expedite processing, not more than ten
times. It provides details of each transaction between the Receiver and a financial institution to which the
funds will be transferred. Each sequence includes a TRN, the reference of the related transaction, the
amount and currency code to be transferred, the identification of the beneficiary institution and any other
institution(s) through which the funds will pass and any other information about the transaction, as
necessary.

MT 203 Multiple General Financial Institution Transfer

Status Tag Field Name Content/Options No.

M 19 Sum of Amounts 17d 1

M 30 Value Date 6!n 2

O 52a Ordering Institution A or D 3

O 53a Sender's Correspondent A, B, or D 4

O 54a Receiver's Correspondent A, B, or D 5

O 72 Sender to Receiver Information 6*35x 6

----->

M 20 Transaction Reference Number 16x 7

M 21 Related Reference 16x 8

M 32B Currency Code, Amount 3!a15d 9

O 56a Intermediary A or D 10

O 57a Account With Institution A, B, or D 11

M 58a Beneficiary Institution A or D 12

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Category 2 - Financial Institution Transfers for Standards MT November 2015

Status Tag Field Name Content/Options No.

O 72 Sender to Receiver Information 6*35x 13

-----|

M = Mandatory, O = Optional

MT 203 Network Validated Rules

C1 The amount in field 19 must equal the sum of the amounts in all occurrences of field 32B (Error
code(s): C01).

C2 The currency code in the amount field 32B must be the same for all occurrences of this field in the
message (Error code(s): C02).

C3 The repetitive sequence must appear at least twice, but not more than ten times (Error code(s):
T11,T10).

C4 If field 56a is present in a transaction, then field 57a must also be present (Error code(s): C81).

MT 203 Usage Rules

• All parties to the transactions must be financial institutions.

• If the Sender wishes to instruct the Receiver to debit its account serviced by the Receiver and to credit one
of its several accounts at an institution specified in field 57a, field 58A in the related sequence must
contain the number of the account to be credited and the name of the Sender.

If the Sender wishes to instruct the Receiver that funds are to be moved between two accounts owned by
the Sender and serviced by the Receiver, field 53B must specify the number of the account to be debited
and field 58A, in the sequence relating to this order, must specify the number of the account to be credited
and the name of the Sender.

• Each transfer of funds between the ordering institution and a beneficiary institution is always related to
another transaction. Field 21 must refer to this transaction.

MT 203 Field Specifications

1. Field 19: Sum of Amounts
FORMAT

17d (Amount)

PRESENCE

Mandatory

DEFINITION

This field contains the sum of all amounts appearing in each occurrence of field 32B in the message.

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NETWORK VALIDATED RULES

The integer part of the Amount must contain at least one digit. A decimal comma is mandatory and is included
in the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the currency specified in field 32B (Error code(s): C03,T40,T43).

2. Field 30: Value Date

FORMAT

6!n (Date)

PRESENCE

Mandatory

DEFINITION

This field specifies the value date for all transactions in the message.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

3. Field 52a: Ordering Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional

DEFINITION

This field specifies the ordering institution when other than the Sender of the message.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

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Category 2 - Financial Institution Transfers for Standards MT November 2015

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

SC 6!n UK Domestic Sort Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

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NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When the Sender of an initial MT 203 message is also the ordering institution that is, this field is not used, that
Sender will be identified in this field in any subsequent messages as the ordering institution.

This field must be forwarded to each beneficiary institution.

The coded information contained in field 52a must be meaningful to the Receiver of the message.

Option A is the preferred option.

Option D should only be used when the ordering financial institution has no BIC.

4. Field 53a: Sender's Correspondent

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional

DEFINITION

This field specifies the account or branch of the Sender or another financial institution through which the
Sender will reimburse the Receiver.

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When the Sender instructs the Receiver to transfer funds between two accounts owned by the Sender and
serviced by the Receiver, this field must be used with option B to identify the account to be debited.

The absence of fields 53a and/or 54a implies that the single direct account relationship between the Sender
and Receiver, in the currency of the transfer, will be used.

24 July 2015 89
Category 2 - Financial Institution Transfers for Standards MT November 2015

In those cases where there are multiple direct account relationships, in the currency of the transaction,
between the Sender and the Receiver, and one of these accounts is to be used for reimbursement, the
account to be credited or debited must be indicated in field 53a, using option B with the party identifier only.

If there is no direct account relationship, in the currency of the transaction, between the Sender and the
Receiver (or branch of the Receiver when specified in field 54a), then field 53a must be present.

When field 53a is present and contains a branch of the Sender, the need for a cover message is dependent on
the currency of the transaction, the relationship between the Sender and the Receiver and the contents of field
54a, if present.

A branch of the Receiver may appear in field 53a if the financial institution providing reimbursement is both the
Sender's Correspondent and a branch of the Receiver, and the Sender intends to send a cover message to
the branch of the Receiver. In this case, the Receiver will be paid by its branch in field 53a.

In all other cases, when field 53a is present, a cover message, that is, MT202/203 or equivalent non-SWIFT,
must be sent to the financial institution identified in field 53a.

When field 53B is used to specify a branch city name, it must always be a branch of the Sender.

The use and interpretation of fields 53a and 54a is, in all cases, dictated by the currency of the transaction and
the correspondent relationship between the Sender and Receiver relative to that currency.

5. Field 54a: Receiver's Correspondent

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional

DEFINITION

This field specifies the branch of the Receiver or another financial institution at which the funds will be made
available to the Receiver.

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

The absence of fields 53a and/or 54a implies that the single direct account relationship between the Sender
and Receiver, in the currency of the transfer, will be used.

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In those cases where field 54a contains a branch of the Receiver, and is not preceded by field 53a, or field
53a contains an account of the Sender serviced by the Receiver's branch, the Receiver will claim
reimbursement from its branch.

If field 54a contains a branch of the Receiver and field 53a contains a branch of the Sender, the Receiver will
claim reimbursement from its branch or will be paid by its branch, depending on the currency of the transfer
and the relationship between the Sender and the Receiver.

In all other cases where field 54a contains a branch of the Receiver, the Receiver will be paid by its branch in
field 54a.

A branch of the Sender must not appear in field 54a.

If the branch of the Sender or other financial institution specified in field 53a is also the account servicer for the
Receiver, field 54a must not be present.

Field 54a containing the name of a financial institution other than the Receiver's branch must be preceded by
field 53a; the Receiver will be paid by the financial institution in field 54a.

The use and interpretation of fields 53a and 54a is in all cases dictated by the currency of the transaction and
the correspondent relationship between the Sender and Receiver relative to that currency.

6. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative Structured Format)

The following line formats must be used:

Line 1 /8c/[additional information] (Code)(Narrative)

Lines 2-6 [//continuation of additional information] (Narrative)
or or
[/8c/[additional information]] (Code)(Narrative)

PRESENCE

Optional

DEFINITION

This field specifies additional information for the Receiver or another party identified in the field.

CODES

One or more of the following codes may be used in Code, placed between slashes ('/'):

ACC Account with Instructions following are for the account with institution.
institution

BNF Beneficiary Information following is for the beneficiary.

INS Instructing The instructing institution which instructed the Sender to

institution execute the transaction.

INT Intermediary Instructions following are for the intermediary institution.

institution

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Category 2 - Financial Institution Transfers for Standards MT November 2015

PHON Telephone Please advise intermediary by phone.

PHONBEN Telephone Please advise/contact beneficiary/claimant by phone.

Beneficiary

PHONIBK Phone Intermediary Please advise intermediary by phone.

REC Receiver Instructions following are for the Receiver of the message.

TELE Telecommunication Please advise the account with institution by the most efficient
means of telecommunication.

TELEBEN Telecommunication Please advise the beneficiary/claimant by the most efficient

means of telecommunication.

TELEIBK Telecommunication Please advise the intermediary by the most efficient means of
telecommunication.

NETWORK VALIDATED RULES

If the first six characters in line 1 contain the character string /REJT/ or /RETN/, then it is mandatory to follow
the Payments Reject/Return Guidelines described in the Standards MT Usage Guidelines (Error code(s):
T80).

USAGE RULES

Field 72 must never be used for information for which another field is intended.

Each item of information contained in this field must be preceded by a code which specifically indicates the
party for which it is intended.

Codes must be placed between slashes and at the beginning of a line. Additional explanatory information,
which may be continued on the next lines, is preceded by a double slash '//'.

Narrative text that is not qualified by a code, must start with a double slash '//' on a new line, and, should
preferably be the last information in this field.

It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use
of codes in this field are in effect, the code must conform to the structure of this field.

Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the
presence of this field will normally require manual intervention.

This field may contain ERI to transport dual currencies, as specified in the chapter entitled "Euro-Related
Information (ERI)" in the Standards MT General Information.

In order to comply with the EC-directive on cross border credit transfers, the optional code word EXCH may be
used to transport an exchange rate. In line with ERI, the code word EXCH is placed between slashes, followed
by the exchange rate, format 12d, and terminated with another slash.

7. Field 20: Transaction Reference Number

FORMAT

16x

PRESENCE

Mandatory

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DEFINITION

The Transaction Reference Number (TRN) specifies the reference assigned by the Sender to unambiguously
identify the message.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

USAGE RULES

A different TRN must be assigned to each transaction in the message.

8. Field 21: Related Reference

FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field contains a reference to the related transaction.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

USAGE RULES

If the related message is an MT 103 Single Customer Credit Transfer, this field will contain the field 20
Sender's Reference of that MT 103.

In all other cases, this field will contain a reference to the related transaction which is meaningful to the
beneficiary institution, for example, the common reference in an MT 300 Foreign Exchange Confirmation, field
21 of an MT 202 General Financial Institution Transfer or MT 400 Advice of Payment.

If the Sender is not the originator of the transaction and no related reference is received, the code NONREF
must be used in this field.

9. Field 32B: Currency Code, Amount

FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

Mandatory

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Category 2 - Financial Institution Transfers for Standards MT November 2015

DEFINITION

This field specifies the currency and amount to be transferred for the transaction in the sequence.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

The codes XAU, XAG, XPD and XPT are not allowed, as these are codes for commodities for which the
category 6 commodities messages must be used (Error code(s): C08).

10. Field 56a: Intermediary

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional

DEFINITION

This field specifies the financial institution through which the transaction must pass to reach the account with
institution.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

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 MT 203 Multiple General Financial Institution Transfer

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

24 July 2015 95
Category 2 - Financial Institution Transfers for Standards MT November 2015

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

11. Field 57a: Account With Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Conditional (see rule C4)

DEFINITION

This field specifies the financial institution which will pay or credit the beneficiary institution.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

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CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

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Category 2 - Financial Institution Transfers for Standards MT November 2015

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When field 57a is not present, it means that the Receiver is also the account with institution.

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

12. Field 58a: Beneficiary Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Mandatory

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DEFINITION

This field specifies the financial institution which has been designated by the ordering institution as the
ultimate recipient of the funds being transferred.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

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Category 2 - Financial Institution Transfers for Standards MT November 2015

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When the Sender instructs the Receiver to either credit one of several accounts owned by the Sender at an
institution specified in field 57a, or transfer funds between two accounts owned by the Sender and serviced by
the Receiver, option A must be used in the related sequence to specify the account to be credited and the
name of the Sender.

It is strongly recommended that in those cases where clearing payments take precedence over book transfer
and book transfer is requested, the Party Identifier be used to specify the account number of the beneficiary
institution.

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

100 Message Reference Guide

 MT 203 Multiple General Financial Institution Transfer

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

13. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative Structured Format)

The following line formats must be used:

Line 1 /8c/[additional information] (Code)(Narrative)

Lines 2-6 [//continuation of additional information] (Narrative)
or or
[/8c/[additional information]] (Code)(Narrative)

PRESENCE

Optional

DEFINITION

This field specifies additional information for the Receiver or other party specified. This information is relevant
to the specific transaction in the sequence.

CODES

One or more of the following codes may be used in Code, placed between slashes ('/'):

ACC Account with Instructions following are for the account with institution.
institution

BNF Beneficiary Information following is for the beneficiary.

INS Instructing The instructing institution which instructed the Sender or

institution previous institution in the transaction chain, to execute the
transaction.

INT Intermediary Instructions following are for the intermediary institution.

institution

PHON Telephone Please advise account with institution by phone.

PHONBEN Telephone Please advise/contact beneficiary/claimant by phone.

Beneficiary

PHONIBK Phone Intermediary Please advise intermediary by phone.

REC Receiver Instructions following are for the Receiver of the message.

TELE Telecommunication Please advise the account with institution by the most efficient
means of telecommunication.

TELEBEN Telecommunication Please advise the beneficiary/claimant by the most efficient

means of telecommunication.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

TELEIBK Telecommunication Please advise the intermediary by the most efficient means of
telecommunication.

TSU Trade Services The code placed between slashes ('/') must be followed by the
Utility transaction TSU transaction identifier, a slash ('/'), the invoice number, a
slash ('/') and the amount paid.

NETWORK VALIDATED RULES

If the first six characters in line 1 contain the character string /REJT/ or /RETN/, then it is mandatory to follow
the Payments Reject/Return Guidelines described in the Standards MT Usage Guidelines (Error code(s):
T80).

USAGE RULES

Field 72 must never be used for information for which another field is intended.

Each item of information contained in this field must be preceded by a code which specifically indicates the
party for which it is intended.

Codes must be placed between slashes and at the beginning of a line. Additional explanatory information,
which may be continued on the next lines, is preceded by a double slash '//'.

Narrative text that is not qualified by a code, must start with a double slash '//' on a new line, and, should
preferably be the last information in this field.

It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use
of codes in this field are in effect, the code must conform to the structure of this field.

Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the
presence of this field will normally require manual intervention.

This field may contain ERI to transport dual currencies, as specified in the chapter entitled "Euro-Related
Information (ERI)" in the Standards MT General Information.

In order to comply with the EC-directive on cross border credit transfers, the optional code word EXCH may be
used to transport an exchange rate. In line with ERI, the code word EXCH is placed between slashes, followed
by the exchange rate, format 12d, and terminated with another slash.

The code INS may be repeated to specify all previously involved financial institutions in the transaction chain.

Instructing institutions should be indicated in the order in which they were involved in the transaction chain,
that is, the first occurrence specifies the financial institution that received the instruction from the ordering
institution and passed it on to the next institution in the transaction chain; the last occurrence always indicates
the institution that instructed the sender of this message to execute the transaction.

MT 203 Examples
Narrative

Value 28 May 2009, UBS, Zürich requests ABN Amro Bank, Amsterdam, to transfer euro 5,000,000 as
follows:

ING Bank NV, Amsterdam EUR 500,000

in favour of Morgan Guaranty Trust Co., New York

SNS Bank Nederland NV, Amsterdam EUR 1,500,000

in favour of Mellon Bank, London

102 Message Reference Guide

 MT 203 Multiple General Financial Institution Transfer

Citibank, Amsterdam EUR 1,000,000

in favour of Citibank, New York

Dresdner Bank AG, Frankfurt EUR 2,000,000

Information Flow

Sender UBS
Zurich

MT

MT 203

Receiver ABN Amro Bank

Amsterdam

Account
With
57a 57a 57a
Institution
ING Bank SNS Bank Citibank
Amsterdam Nederland NV Amsterdam
Amsterdam

Beneficiary
Institution 58a 58a 58a 58a

Morgan Mellon Bank Citibank Dresdner

Guaranty London New York Bank
Trust Co Frankfurt D0020006
New York

SWIFT Message

Explanation Format

Sender UBSWCHZH80A

Message type 203

Receiver ABNANL2A

Message text

Sum of amounts in the message :19:5000000,

Value date :30:090528

Transaction reference number (1) (1) :20:2345

Related reference :21:789022

Currency code and amount :32B:EUR500000,

Account with institution :57A:INGBNL2A

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Category 2 - Financial Institution Transfers for Standards MT November 2015

Explanation Format

Beneficiary institution :58A:MGTCUS33

Transaction reference number (2) (1) :20:2346

Related reference :21:ABX2270

Currency code and amount :32B:EUR1500000,

Account with institution :57A:BBSPNL2A

Beneficiary institution :58A:MELNGB2X

Transaction reference number (3) (1) :20:2347

Related reference :21:CO 2750/26

Currency code and amount :32B:EUR1000000,

Account with institution :57A:CITINL2X

Beneficiary institution :58A:CITIUS33

Transaction reference number (4) (1) :20:2348

Related reference :21:DRESFF2344BKAUWW

Currency code and amount :32B:EUR2000000,

Beneficiary institution :58A:DRESDEFF

End of message text/trailer

(1) There are 4 transfer orders within the message

104 Message Reference Guide

 MT 204 Financial Markets Direct Debit Message

MT 204 Financial Markets Direct Debit Message

Note: The use of this message type requires different Message User Group (MUG) registration from the
MUG registration for other messages types. See the FIN Service Description for details.

MT 204 Scope
This message is sent by an exchange or clearing house, or another financial institution to a SWIFT member or
submember, to instruct the Receiver of the message to debit the account(s) of a third party specified in the
message and to pay or credit the corresponding amount in favour of the Sender of the message.

MT 204 Format Specifications

The MT 204 consists of two types of sequences:

• Sequence A Common Elements - Reimbursement Details, is a single occurrence sequence and contains
default information which is valid for all individual transactions described in sequence B and the total
amount to be reimbursed.

• Sequence B Transaction Details, is a repetitive sequence. Each occurrence gives the details concerning
one debit.

MT 204 Financial Markets Direct Debit Message

Status Tag Field Name Content/Options No.

Mandatory Sequence A Common Elements - Reimbursement Details

M 20 Transaction Reference Number 16x 1

M 19 Sum of Amounts 17d 2

M 30 Value Date 6!n 3

O 57a Account With Institution A, B, or D 4

O 58a Beneficiary Institution A or D 5

O 72 Sender to Receiver Information 6*35x 6

End of Sequence A Common Elements - Reimbursement Details

-----> Mandatory Repetitive Sequence B Transaction Details

M 20 Transaction Reference Number 16x 7

O 21 Related Reference 16x 8

M 32B Transaction Amount 3!a15d 9

M 53a Debit Institution A, B, or D 10

O 72 Sender to Receiver Information 6*35x 11

-----| End of Sequence B Transaction Details

M = Mandatory, O = Optional

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Category 2 - Financial Institution Transfers for Standards MT November 2015

MT 204 Network Validated Rules

C1 The amount in field 19 must equal the sum of the amounts in all occurrences of field 32B (Error
code(s): C01).

C2 The currency code in the amount field 32B must be the same for all occurrences of this field in the
message (Error code(s): C02).

C3 The repetitive sequence must not appear more than ten times (Error code(s): T10).

MT 204 Usage Rules

This message requires the implementation of special procedures, its use is governed by bilateral agreements
between counterparties. In order to be able to send or receive this message, the interested customers need to
formally request SWIFT to be activated within the FIN subapplication group which controls the use of this
message.

MT 204 Field Specifications

1. Field 20: Transaction Reference Number
FORMAT

16x

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field specifies the reference assigned by the Sender to unambiguously identify the message.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

USAGE RULES

This field is intended to ensure proper cross referencing of all related sequences, as well as to provide a
unique reference. This reference should normally be quoted in any related reimbursement payments, for
example, MT 202 General Financial Institution Transfer, MT 910 Confirmation of Credit and/or MT 950
Statement Message when reimbursement is by a single net amount.

2. Field 19: Sum of Amounts

FORMAT

17d (Amount)

106 Message Reference Guide

 MT 204 Financial Markets Direct Debit Message

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field specifies the sum of the amounts appearing in each occurrence of field 32B.

NETWORK VALIDATED RULES

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the currency specified in field 32B (Error code(s): C03,T40,T43).

3. Field 30: Value Date

FORMAT

6!n (Date)

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field specifies the value date which the Receiver is requested to apply to all individual transactions in the
message. This value will, subject to bilateral agreement, determine the value date to be applied to the
reimbursement made by the Receiver in favour of the Sender of the message.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

4. Field 57a: Account With Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional in mandatory sequence A

DEFINITION

This field identifies the financial institution at which the Sender wishes to receive reimbursement from the
Receiver.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

108 Message Reference Guide

 MT 204 Financial Markets Direct Debit Message

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When one of the codes //FW (with or without the 9-digit number), //AU, //RT, //IN or //CP is used, it should
appear only once and in the first of the fields 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances, that is, when the party cannot be identified by a
financial institution BIC and when there is a bilateral agreement between the Sender and the Receiver
permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may
prevent the automated processing of the instruction(s) by the Receiver.

5. Field 58a: Beneficiary Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

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Category 2 - Financial Institution Transfers for Standards MT November 2015

PRESENCE

Optional in mandatory sequence A

DEFINITION

This field identifies the beneficiary institution, which is always the Sender.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

110 Message Reference Guide

 MT 204 Financial Markets Direct Debit Message

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When one of the codes //FW (with or without the 9-digit number), //AU, //RT, //IN or //CP is used, it should
appear only once and in the first of the fields 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances, that is, when the party cannot be identified by a
financial institution BIC and when there is a bilateral agreement between the Sender and the Receiver
permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may
prevent the automated processing of the instruction(s) by the Receiver.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

6. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative Structured Format)

The following line formats must be used:

Line 1 /8c/[additional information] (Code)(Narrative)

Lines 2-6 [//continuation of additional information] (Narrative)
or or
[/8c/[additional information]] (Code)(Narrative)

PRESENCE

Optional in mandatory sequence A

DEFINITION

This field specifies additional information for the Receiver or another party identified in the field.

CODES

One or more of the following codes may be used in Code, placed between slashes ('/'):

ACC Account with Instructions following are for the account with institution.
institution

BNF Beneficiary Information following is for the beneficiary.

CUST Customer The amount to be debited corresponds to a margin call on

segregated customer (client) trades/account.

CUSTMAR Customer account The amount to be debited corresponds to initial/original margin

margin on customer trades (customer account margin).

CUSTVAR Customer account The amount to be debited corresponds to variation margin on

variation customer trades (customer account variation).

HOUSE House trade The amount to be debited corresponds to a margin call on

house trades (proprietary funds).

HOUSEMAR House account The amount to be debited corresponds to initial/original margin

margin on house trades (house account margin).

HOUSEVAR House account The amount to be debited corresponds to variation margin on

variation house trades (house account variation).

METALS Metals Metals call.

MKTMAR Market-marker The amount to be debited corresponds to initial/original margin

account margin on market-maker (specialist) trades/account (market-maker
account margin).

MKTMKR Market-marker The amount to be debited corresponds to a margin call on

trades/account market-maker (specialist) trades/account.

MKTVAR Market-marker The amount to be debited corresponds to variation margin on

account variation market-maker (specialist) trades/account (market-maker
account variation).

112 Message Reference Guide

 MT 204 Financial Markets Direct Debit Message

MMPLDG Market-maker The amount corresponds to a market-maker pledge.

pledge

OPTPREM Options premium Options premium.

REC Receiver Instructions following are for the Receiver of the message.

TENDER Tender The amount to be debited corresponds to a payment in respect

of a tender (delivery).

VARIATN Variation General variation.

XMGN Cross margin Cross-margin account (covers positions hedged, offset or

account spread over two exchanges).

XMGNMAR Cross margin Cross-margin account margin (for initial/original margin).

XMGNVAR Cross margin Cross-margin account margin (for variation margin).

variation

NETWORK VALIDATED RULES

If the first six characters in line 1 contain the character string /REJT/ or /RETN/, then it is mandatory to follow
the Payments Reject/Return Guidelines described in the Standards MT Usage Guidelines (Error code(s):
T80).

USAGE RULES

Field 72 must never be used for information for which another field is intended.

Each item of information contained in this field must be preceded by a code which specifically indicates the
party for which it is intended.

Codes must be placed between slashes and at the beginning of a line. Additional explanatory information,
which may be continued on the next lines, is preceded by a double slash '//'.

Narrative text that is not qualified by a code, must start with a double slash '//' on a new line, and, should
preferably be the last information in this field.

It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use
of codes in this field are in effect, the code must conform to the structure of this field.

Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the
presence of this field will normally require manual intervention.

This field may contain ERI to transport dual currencies, as specified in the chapter entitled "Euro-Related
Information (ERI)" in the Standards MT General Information.

7. Field 20: Transaction Reference Number

FORMAT

16x

PRESENCE

Mandatory in mandatory sequence B

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Category 2 - Financial Institution Transfers for Standards MT November 2015

DEFINITION

This field specifies the reference assigned by the Sender to unambiguously identify the specific transaction.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

USAGE RULES

This reference should normally be quoted in any related reimbursement payments, for example, MT 202
General Financial Institution Transfer, MT 910 Confirmation of Credit and/or MT 950 Statement Message
when reimbursement is by individual amount(s), sent to the Sender.

8. Field 21: Related Reference

FORMAT

16x

PRESENCE

Optional in mandatory sequence B

DEFINITION

This field contains a reference attributed by the debit institution to the related transaction.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

USAGE RULES

This reference would normally be quoted in any related MT 900 Confirmation of Debit or MT 950 Statement
Message, sent to the debit institution.

9. Field 32B: Transaction Amount

FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

Mandatory in mandatory sequence B

DEFINITION

This field specifies the currency and the amount to be debited to the debit institution identified in field 53a of
the same sequence.

114 Message Reference Guide

 MT 204 Financial Markets Direct Debit Message

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

10. Field 53a: Debit Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Mandatory in mandatory sequence B

DEFINITION

This field specifies the financial institution which is to be debited with the transaction amount.

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

Optional Party Identifier may be used to specify the account number to be debited.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances, that is, when the debit institution cannot be
identified by a financial institution BIC, and when there is a bilateral agreement between the Sender and
Receiver permitting its use. Unless qualified by an account number, the use of option D may prevent the
automated processing of the instruction(s) by the Receiver.

11. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative Structured Format)

The following line formats must be used:

Line 1 /8c/[additional information] (Code)(Narrative)

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Category 2 - Financial Institution Transfers for Standards MT November 2015

Lines 2-6 [//continuation of additional information] (Narrative)

or or
[/8c/[additional information]] (Code)(Narrative)

PRESENCE

Optional in mandatory sequence B

DEFINITION

This field specifies additional information for the Receiver or another party specified. This information is
relevant to the specific transaction in the sequence.

CODES

One or more of the following codes may be used in Code, placed between slashes ('/'):

ACC Account with Instructions following are for the account with institution.
institution

BNF Beneficiary Information following is for the beneficiary.

CUST Customer The amount to be debited corresponds to a margin call on

segregated customer (client) trades/account.

CUSTMAR Customer account The amount to be debited corresponds to initial/original margin

margin on customer trades (customer account margin).

CUSTVAR Customer account The amount to be debited corresponds to variation margin on

variation customer trades (customer account variation).

HOUSE House trade The amount to be debited corresponds to a margin call on

house trades (proprietary funds).

HOUSEMAR House account The amount to be debited corresponds to initial/original margin

margin on house trades (house account margin).

HOUSEVAR House account The amount to be debited corresponds to variation margin on

variation house trades (house account variation).

METALS Metals Metals call.

MKTMAR Market-marker The amount to be debited corresponds to initial/original margin

account margin on market-maker (specialist) trades/account (market-maker
account margin).

MKTMKR Market-marker The amount to be debited corresponds to a margin call on

trades/account market-maker (specialist) trades/account.

MKTVAR Market-marker The amount to be debited corresponds to variation margin on

account variation market-maker (specialist) trades/account (market-maker
account variation).

MMPLDG Market-maker The amount corresponds to a market-maker pledge.

pledge

OPTPREM Options premium Options premium.

REC Receiver Instructions following are for the Receiver of the message.

TENDER Tender The amount to be debited corresponds to a payment in respect

of a tender (delivery).

116 Message Reference Guide

 MT 204 Financial Markets Direct Debit Message

VARIATN Variation General variation.

XMGN Cross margin Cross-margin account (covers positions hedged, offset or

account spread over two exchanges).

XMGNMAR Cross margin Cross-margin account margin (for initial/original margin).

XMGNVAR Cross margin Cross-margin account margin (for variation margin).

variation

NETWORK VALIDATED RULES

If the first six characters in line 1 contain the character string /REJT/ or /RETN/, then it is mandatory to follow
the Payments Reject/Return Guidelines described in the Standards MT Usage Guidelines (Error code(s):
T80).

USAGE RULES

Field 72 must never be used for information for which another field is intended.

Each item of information contained in this field must be preceded by a code which specifically indicates the
party for which it is intended.

Codes must be placed between slashes and at the beginning of a line. Additional explanatory information,
which may be continued on the next lines, is preceded by a double slash '//'.

Narrative text that is not qualified by a code, must start with a double slash '//' on a new line, and, should
preferably be the last information in this field.

It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use
of codes in this field are in effect, the code must conform to the structure of this field.

Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the
presence of this field will normally require manual intervention.

This field may contain ERI to transport dual currencies, as specified in the chapter entitled "Euro-Related
Information (ERI)" in the Standards MT General Information.

MT 204 Examples
Example 1: The Exchange and the Member have a Common
Correspondent Bank
Narrative

The Chicago Mercantile sends an MT 204 to Northern Trust with the instruction to debit the account of Merrill
Lynch and to credit its account 1234-ABC, with value date 21 September 2009.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

Information Flow

Sender The Chicago

and Beneficiary Mercantile
Institution (58a) Exchange
(MT 910
Confirmation
of Credit)

MT
Merril Lynch
New York 53a
MT 204

(MT 900
Confirmation
of Debit)
Receiver Northern Trust
Chicago

D0020007
SWIFT Message, MT 204

Explanation Format

Sender XCMEUS4C

Message type 204

Receiver CNORUS44

Message text

Message reference number :20:XCME REF1

Sum of amounts :19:50000,

Value date :30:090921

Beneficiary institution :58A:/1234-ABC

XCMEUS4C

Transaction reference number :20:XCME REF2

Related reference :21:MANDATEREF1

Transaction amount :32B:USD50000,

Debit institution :53A:MLNYUS33

End of message text/trailer

The common correspondent bank sends confirmations of credit and debit to the exchange (MT 910) and
exchange member (MT 900) as shown below:

SWIFT Message, MT 910, Confirmation of Credit

Explanation Format

Sender CNORUS44

118 Message Reference Guide

 MT 204 Financial Markets Direct Debit Message

Explanation Format

Message type 910

Receiver XCMEUS4C

Message text

Transaction reference number :20:MB REF A

Related reference :21:XCME REF1

Account identification :25:ACCOUNT ID OF XCME

Value date/currency code/amount :32A:090921USD50000,

Ordering institution :52A:XCMEUS4C

End of message text/trailer

SWIFT Message, MT 900, Confirmation of Debit

Explanation Format

Sender CNORUS44

Message type 900

Receiver MLNYUS33

Message text

Transaction reference number :20:MB REF B

Related reference :21:MANDATEREF1

Account identification :25:ACCOUNT ID OF MLNY

Value date/currency code/amount :32A:090921USD50000,

Ordering institution :52A:XCMEUS4C

End of message text/trailer

Example 2: The Exchange does not want to use the account relationship
with the common correspondent and wants the funds to be transferred
to another institution
Narrative

The Chicago Mercantile Exchange asks its member Merrill Lynch International Bank, New York to put up a
margin of 50,000 USD.

The Northern Trust Company is the settlement bank of Merrill Lynch at the Chicago Mercantile Exchange.

The Chicago Mercantile sends an MT 204 to Northern Trust with the instruction to debit the account of Merrill
Lynch and to credit its account serviced by First National Bank of Chicago in Chicago with a value date 21
September 2009.

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Information Flow

Sender The Chicago

and Beneficiary Mercantile
Institution (58a) Exchange
(MT 910
Confirmation
of Credit)

MT
Merril Lynch First Chicago
New York Chicago
53a MT 204 57a

(MT 900 CHIPS

Confirmation
of Debit)
Receiver Northern Trust
Chicago

D0020008
SWIFT Message, MT 204

Explanation Format

Sender XCMEUS4C

Message type 204

Receiver CNORUS44

Message text

Transaction reference number :20:XCME REF1

Sum of amounts :19:50000,

Value date :30:090921

Account with institution :57A:FNBCUS44

Message reference number :20:XCME REF2

Related reference :21:MANDATEREF1

Transaction amount :32B:USD50000,

Debit institution :53A:MLNYUS33

End of message text/trailer

120 Message Reference Guide

 MT 205 Financial Institution Transfer Execution

MT 205 Financial Institution Transfer Execution

MT 205 Scope
This message is sent by the Receiver of a category 2 message that is, MT 200, 201, 202, 203 or 205, or
equivalent (for example ISO 20022 Financial Institution Credit Transfer), directly, or through correspondent(s),
to the financial institution of the beneficiary institution.

It is used to further transmit a funds transfer instruction where Sender and Receiver are located in the same
country.

If the funds transfer instruction is related to an underlying customer credit transfer that was sent with the cover
method, then the MT 205 must not be used.

MT 205 Format Specifications

MT 205 Financial Institution Transfer Execution
Status Tag Field Name Content/Options No.

M 20 Transaction Reference Number 16x 1

M 21 Related Reference 16x 2

----->

O 13C Time Indication /8c/4!n1!x4!n 3

-----|

M 32A Value Date, Currency Code, Amount 6!n3!a15d 4

M 52a Ordering Institution A or D 5

O 53a Sender's Correspondent A, B, or D 6

O 56a Intermediary A or D 7

O 57a Account With Institution A, B, or D 8

M 58a Beneficiary Institution A or D 9

O 72 Sender to Receiver Information 6*35x 10

M = Mandatory, O = Optional

MT 205 Network Validated Rules

C1 If field 56a is present, then field 57a must also be present (Error code(s): C81).

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MT 205 Field Specifications

1. Field 20: Transaction Reference Number
FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field specifies the reference assigned by the Sender to unambiguously identify the message.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

2. Field 21: Related Reference

FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field contains a reference to the related transaction.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

USAGE RULES

If the previous message is an MT 202, 203 or 205, this field contains the field 21 Related Reference of that
message.

If the previous message is an MT 200 or 201, this field contains the field 20 Transaction Reference Number of
that message.

3. Field 13C: Time Indication

FORMAT

Option C /8c/4!n1!x4!n (Code)(Time indication)(Sign)(Time offset)

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 MT 205 Financial Institution Transfer Execution

PRESENCE

Optional

DEFINITION

This repetitive field specifies one or several time indication(s) related to the processing of the payment
instruction.

CODES

One of the following codes may be used in Code, placed between slashes ('/'):

CLSTIME CLS Time The time by which the funding payment must be credited, with
confirmation, to the CLS Bank's account at the central bank,
expressed in Central European Time (CET).

RNCTIME Receive Time The time at which a TARGET2 payment was credited at the
receiving central bank, expressed in Central European Time
(CET).

SNDTIME Send Time The time at which a TARGET2 payment was debited at the
sending central bank, expressed in Central European Time
(CET).

CODES

One of the following codes must be used in Sign (Error code(s): T15):

+ Plus The + sign.

- Minus The - sign.

NETWORK VALIDATED RULES

Time indication must be a valid time expressed as HHMM (Error code(s): T38).

Time offset is expressed as 'HHMM', where the hour component, that is, 'HH', must be in the range of 00
through 13, and the minute component, that is, 'MM', must be in the range of 00 through 59. Any 'HH' or 'MM'
component outside of these range checks will be disallowed (Error code(s): T16).

USAGE RULES

The time zone in which Time is expressed is to be identified by means of the offset against the UTC
(Coordinated Universal Time - ISO 8601).

EXAMPLE

Assume a financial institution in London is sending a payment instruction on 5 January related to CLS in which
it indicates that money has to be funded to CLS bank by 09.15 CET.

Time indication field will be completed as follows: :13C:/CLSTIME/0915+0100

Explanation:

• 0915 is the time by which the money has to be funded to CLS bank. It has been agreed that CLSTIME is to
be indicated in CET (see codes above).

• +0100 is the offset of CET against UTC in January (that is during winter time).

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Category 2 - Financial Institution Transfers for Standards MT November 2015

If the same instruction had been sent on 10 June (that is during summer time), time indication field would have
been completed as follows: :13C:/CLSTIME/0915+0200

Offsets of local time zones against UTC are published in the BIC Directory download file (TZ***.txt file), which
is available on www.swiftrefdata.com.

4. Field 32A: Value Date, Currency Code, Amount

FORMAT

Option A 6!n3!a15d (Date)(Currency)(Amount)

PRESENCE

Mandatory

DEFINITION

This field specifies the value date, currency and amount to be transferred.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

The codes XAU, XAG, XPD and XPT are not allowed, as these are codes for commodities for which the
category 6 commodities messages must be used (Error code(s): C08).

5. Field 52a: Ordering Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Mandatory

DEFINITION

This field identifies the ordering institution from the initial message.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

124 Message Reference Guide

 MT 205 Financial Institution Transfer Execution

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

SC 6!n UK Domestic Sort Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

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Category 2 - Financial Institution Transfers for Standards MT November 2015

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

If there was no ordering institution specified in the initial message, the Sender of that message will be the
ordering institution in this message.

This field must be forwarded to the beneficiary institution.

The coded information contained in field 52a must be meaningful to the Receiver of the message.

Option A is the preferred option.

Option D should only be used when the ordering financial institution has no BIC.

6. Field 53a: Sender's Correspondent

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional

DEFINITION

This field specifies the account or branch of the Sender or another financial institution through which the
Sender will reimburse the Receiver.

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

126 Message Reference Guide

 MT 205 Financial Institution Transfer Execution

USAGE RULES

In those cases where there are multiple direct account relationships, in the currency of the transaction,
between the Sender and the Receiver, and one of these accounts is to be used for reimbursement, the
account to be credited or debited must be indicated in field 53a, using option B with the account number line
only.

If there is no direct account relationship, in the currency of the transaction, between the Sender and the
Receiver, then field 53a must be present.

A branch of the Receiver may appear in field 53a if the financial institution providing reimbursement is both the
Sender's Correspondent and a branch of the Receiver, and the Sender intends to send a cover message to
the branch of the Receiver. In this case, the Receiver will be paid by its branch in field 53a.

When there is a single direct account relationship, in the currency of the transaction, between the Sender and
the Receiver, and this is the account to be used for reimbursement, field 53a must not be present.

When field 53B is used to specify a branch city name, it must always be a branch of the Sender.

The use and interpretation of field 53a is, in all cases, dictated by the currency of the transaction and the
correspondent relationship between the Sender and Receiver relative to that currency.

7. Field 56a: Intermediary

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional

DEFINITION

This field specifies the financial institution through which the transaction must pass to reach the account with
institution.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

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Category 2 - Financial Institution Transfers for Standards MT November 2015

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

128 Message Reference Guide

 MT 205 Financial Institution Transfer Execution

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

8. Field 57a: Account With Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Conditional (see rule C1)

DEFINITION

This field specifies the financial institution which is to pay or credit the beneficiary institution.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

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Category 2 - Financial Institution Transfers for Standards MT November 2015

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

130 Message Reference Guide

 MT 205 Financial Institution Transfer Execution

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When field 57a is not present, it means that the Receiver is also the account with institution.

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

9. Field 58a: Beneficiary Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

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Category 2 - Financial Institution Transfers for Standards MT November 2015

PRESENCE

Mandatory

DEFINITION

This field specifies the ultimate recipient of the funds being transferred.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

132 Message Reference Guide

 MT 205 Financial Institution Transfer Execution

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

If the initial transfer message is an MT 200 or 201, this field will be identical to the contents of field 52a in this
message.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

10. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative Structured Format)

The following line formats must be used:

Line 1 /8c/[additional information] (Code)(Narrative)

Lines 2-6 [//continuation of additional information] (Narrative)
or or
[/8c/[additional information]] (Code)(Narrative)

PRESENCE

Optional

DEFINITION

This field specifies additional information for the Receiver or another party identified in the field.

CODES

One or more of the following codes may be used in Code, placed between slashes ('/'):

ACC Account with Instructions following are for the account with institution.
institution

BNF Beneficiary Information following is for the beneficiary.

INS Instructing The instructing institution which instructed the Sender or

institution previous institution in the transaction chain, to execute the
transaction.

INT Intermediary Instructions following are for the intermediary institution.

institution

PHON Telephone Please advise account with institution by phone.

PHONBEN Telephone Please advise/contact beneficiary/claimant by phone.

beneficiary

PHONIBK Phone Intermediary Please advise intermediary by phone.

REC Receiver Instructions following are for the Receiver of the message.

TELE Telecommunication Please advise the account with institution by the most efficient
means of telecommunication.

TELEBEN Telecommunication Please advise the beneficiary/claimant by the most efficient

means of telecommunication.

TELEIBK Telecommunication Please advise the intermediary by the most efficient means of
telecommunication.

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TSU Trade Services The code placed between slashes ('/') must be followed by the
Utility transaction TSU transaction identifier, a slash ('/'), the invoice number, a
slash ('/') and the amount paid.

NETWORK VALIDATED RULES

If the first six characters in line 1 contain the character string /REJT/ or /RETN/, then it is mandatory to follow
the Payments Reject/Return Guidelines described in the Standards MT Usage Guidelines (Error code(s):
T80).

USAGE RULES

Field 72 must never be used for information for which another field is intended.

Each item of information contained in this field must be preceded by a code which specifically indicates the
party for which it is intended.

Codes must be placed between slashes and at the beginning of a line. Additional explanatory information,
which may be continued on the next lines, is preceded by a double slash '//'.

Narrative text that is not qualified by a code, must start with a double slash '//' on a new line, and, should
preferably be the last information in this field.

It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use
of codes in this field are in effect, the code must conform to the structure of this field.

Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the
presence of this field will normally require manual intervention.

This field may contain ERI to transport dual currencies, as specified in the chapter entitled "Euro-Related
Information (ERI)" in the Standards MT General Information.

In order to comply with the EC-directive on cross border credit transfers, the optional code word EXCH may be
used to transport an exchange rate. In line with ERI, the code word EXCH is placed between slashes, followed
by the exchange rate, format 12d, and terminated with another slash.

The code INS may be repeated to specify all previously involved financial institutions in the transaction chain.

Instructing institutions should be indicated in the order in which they were involved in the transaction chain,
that is, the first occurrence specifies the financial institution that received the instruction from the ordering
institution and passed it on to the next institution in the transaction chain; the last occurrence always indicates
the institution that instructed the sender of this message to execute the transaction.

MT 205 Examples
Narrative

Deutsche Bank, Frankfurt, receives the following MT 202 General Financial Institution Transfer from UBS,
Zürich.

Explanation Format

Sender UBSWCHZH80A

Message Type 202

Receiver DEUTDEFF

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Explanation Format

Message Text

Transaction Reference Number :20:203998988

Related Reference :21:394882

Value Date/Currency Code/Amount :32A:090828EUR1121,50

Account With Institution :57A:DEUTDEHH

Beneficiary Institution :58A:OSCBDEH1

End of Message Text/Trailer

Information Flow

Ordering Institution UBS

52a Zurich

(MT 202)

Sender Deutsche Bank

Frankfurt
(Receiver of MT 202)

MT

MT 205

Receiver Deutsche Bank

Hamburg
(Field 57a in MT 202)

Beneficiary Institution Otto M. Schroder Bank

58a Hamburg
D0020009

As a result of this message, Deutsche Bank, Frankfurt, sends an MT 205 to Deutsche Bank, Hamburg:

SWIFT Message

Explanation Format

Sender DEUTDEFF

Message Type 205

Receiver DEUTDEHH

Message Text

Transaction reference number :20:3004GH3882

Related reference (1) :21:394882

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Explanation Format

Value date/currency code/amount :32A:090828EUR1121,50

Ordering institution (2) :52A:UBSWCHZH80A

Beneficiary Institution :58A:OSCBDEH1

End of Message Text/Trailer

(1) Related reference of the transaction which resulted in this message, that is, field 21 of the MT 202.
(2) As there was no ordering institution in the MT 202 which resulted in this message, the Sender of the MT 202
will become the ordering institution.

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MT 205 COV Financial Institution Transfer Execution

The MT 205 COV is a General Use message, that is, no registration in a Message User Group is necessary to
send and receive this message.

The message contains a mandatory sequence to include information on an underlying customer credit transfer
and has a maximum message length of 10,000 characters.

IMPORTANT: To trigger the MT 205 COV format validation, the user header of the message (block 3)
is mandatory and must contain the code COV in the validation flag field 119
({3:{119:COV}}).

MT 205 COV Scope

This message is sent by the Receiver of an MT 202 COV, MT 205 COV or equivalent (for example ISO 20022
Financial Institution Credit Transfer), directly, or through correspondent(s), to the financial institution of the
beneficiary institution.

It is only used to further transmit a funds transfer instruction related to an underlying customer credit transfer
that was sent with the cover method, where Sender and Receiver are located in the same country.

The MT 205 COV must not be used for any other interbank transfer.

MT 205 COV Format Specifications

The MT 205 COV consists of two sequences:

• Sequence A General Information is a single occurrence sequence and contains information on the
financial institution transfer between the ordering institution and beneficiary institution.

• Sequence B Underlying Customer Credit Transfer Details is a single occurrence sequence and is used to
provide details on an individual underlying customer credit transfer that was sent with the cover method.

MT 205 COV Financial Institution Transfer Execution

Status Tag Field Name Content/Options No.

Mandatory Sequence A General Information

M 20 Transaction Reference Number 16x 1

M 21 Related Reference 16x 2

----->

O 13C Time Indication /8c/4!n1!x4!n 3

-----|

M 32A Value Date, Currency Code, Amount 6!n3!a15d 4

M 52a Ordering Institution A or D 5

O 53a Sender's Correspondent A, B, or D 6

O 56a Intermediary A or D 7

O 57a Account With Institution A, B, or D 8

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Status Tag Field Name Content/Options No.

M 58a Beneficiary Institution A or D 9

O 72 Sender to Receiver Information 6*35x 10

End of Sequence A General Information

Mandatory Sequence B Underlying Customer Credit Transfer Details

M 50a Ordering Customer A, F, or K 11

O 52a Ordering Institution A or D 12

O 56a Intermediary Institution A, C, or D 13

O 57a Account With Institution A, B, C, or D 14

M 59a Beneficiary Customer No letter option, A, or F 15

O 70 Remittance Information 4*35x 16

O 72 Sender to Receiver Information 6*35x 17

O 33B Currency/Instructed Amount 3!a15d 18

End of Sequence B Underlying Customer Credit Transfer Details

M = Mandatory, O = Optional

MT 205 COV Network Validated Rules

C1 If field 56a is present in sequence A, then field 57a must also be present in sequence A (Error code(s):
C81).

C2 If field 56a is present in sequence B, then field 57a must also be present in sequence B (Error code(s):
C68).

MT 205 COV Usage Rules

• All parties to the financial institution transfer (Sequence A) must be financial institutions.

• The transfer of funds between the ordering institution and the beneficiary institution is always related to an
underlying customer credit transfer. Field 21 must refer to the underlying transaction.

• The MT 205 COV must not be used to convey customer credit transfer instructions; it is used to order the
movement of funds related to an underlying customer credit transfer that was sent with the cover method.

• Where an inward MT 202 COV or MT 205 COV results in an onward MT 205 COV, the reference from field
21 of the inward message must be passed on unchanged in field 21 of the onward message.

• The MT 205 COV must not be forwarded to the beneficiary financial institution for reporting purposes.

MT 205 COV Market Practice Rules

Guidelines for the use of the message have been published by the Payments Market Practice Group (PMPG).

For more details, see the relevant market practice document on www.pmpg.info.

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MT 205 COV Field Specifications

1. Field 20: Transaction Reference Number
FORMAT

16x

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field specifies the reference assigned by the Sender to unambiguously identify the message.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

2. Field 21: Related Reference

FORMAT

16x

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field contains a reference to the related transaction.

CODES

If no related reference is available, the code NONREF must be used in this field.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

USAGE RULES

If the related message is an MT 103 Single Customer Credit Transfer, this field will contain field 20 Sender's
Reference of that MT 103.

If an incoming message is an MT 202 COV or an MT 205 COV and results in an outgoing MT 205 COV, this
field will contain field 21 Related Reference of the incoming message.

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3. Field 13C: Time Indication

FORMAT

Option C /8c/4!n1!x4!n (Code)(Time indication)(Sign)(Time offset)

PRESENCE

Optional in mandatory sequence A

DEFINITION

This repetitive field specifies one or several time indication(s) related to the processing of the payment
instruction.

CODES

One of the following codes may be used in Code, placed between slashes ('/'):

CLSTIME CLS Time The time by which the funding payment must be credited, with
confirmation, to the CLS Bank's account at the central bank,
expressed in Central European Time (CET).

RNCTIME Receive Time The time at which a TARGET2 payment was credited at the
receiving central bank, expressed in Central European Time
(CET).

SNDTIME Send Time The time at which a TARGET2 payment was debited at the
sending central bank, expressed in Central European Time
(CET).

CODES

One of the following codes must be used in Sign (Error code(s): T15):

+ Plus The + sign.

- Minus The - sign.

NETWORK VALIDATED RULES

Time indication must be a valid time expressed as HHMM (Error code(s): T38).

Time offset is expressed as 'HHMM', where the hour component, that is, 'HH', must be in the range of 00
through 13, and the minute component, that is, 'MM', must be in the range of 00 through 59. Any 'HH' or 'MM'
component outside of these range checks will be disallowed (Error code(s): T16).

USAGE RULES

The time zone in which Time is expressed is to be identified by means of the offset against the UTC
(Coordinated Universal Time - ISO 8601).

EXAMPLE

Assume a financial institution in London is sending a payment instruction on 5 January related to CLS in which
it indicates that money has to be funded to CLS bank by 09.15 CET.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

Time indication field will be completed as follows: :13C:/CLSTIME/0915+0100

Explanation:

• 0915 is the time by which the money has to be funded to CLS bank. It has been agreed that CLSTIME is to
be indicated in CET (see codes above).

• +0100 is the offset of CET against UTC in January (that is during winter time).

If the same instruction had been sent on 10 June (that is during summer time), time indication field would have
been completed as follows:

:13C:/CLSTIME/0915+0200

Offsets of local time zones against UTC are published in the BIC Directory download file (TZ***.txt file), which
is available on www.swiftrefdata.com.

4. Field 32A: Value Date, Currency Code, Amount

FORMAT

Option A 6!n3!a15d (Date)(Currency)(Amount)

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field specifies the value date, currency and amount to be transferred.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

The codes XAU, XAG, XPD and XPT are not allowed, as these are codes for commodities for which the
category 6 commodities messages must be used (Error code(s): C08).

5. Field 52a: Ordering Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Mandatory in mandatory sequence A

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DEFINITION

This field specifies the ordering institution when other than the Sender of the message.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

SC 6!n UK Domestic Sort Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

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HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

If there was no ordering institution specified in the initial message, the Sender of that message will be the
ordering institution in this message.

This field must be forwarded to the beneficiary institution.

The coded information contained in field 52a must be meaningful to the Receiver of the message.

Option A is the preferred option.

Option D should only be used when the ordering financial institution has no BIC.

6. Field 53a: Sender's Correspondent

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional in mandatory sequence A

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 MT 205 COV Financial Institution Transfer Execution

DEFINITION

This field specifies the account or branch of the Sender or another financial institution through which the
Sender will reimburse the Receiver.

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

In those cases where there are multiple direct account relationships, in the currency of the transaction,
between the Sender and the Receiver, and one of these accounts is to be used for reimbursement, the
account to be credited or debited must be indicated in field 53a, using option B with the account number line
only.

If there is no direct account relationship, in the currency of the transaction, between the Sender and the
Receiver, then field 53a must be present.

A branch of the Receiver may appear in field 53a if the financial institution providing reimbursement is both the
Sender's Correspondent and a branch of the Receiver, and the Sender intends to send a cover message to
the branch of the Receiver. In this case, the Receiver will be paid by its branch in field 53a.

When there is a single direct account relationship, in the currency of the transaction, between the Sender and
the Receiver, and this is the account to be used for reimbursement, field 53a must not be present.

When field 53B is used to specify a branch city name, it must always be a branch of the Sender.

The use and interpretation of field 53a is, in all cases, dictated by the currency of the transaction and the
correspondent relationship between the Sender and Receiver relative to that currency.

7. Field 56a: Intermediary

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional in mandatory sequence A

DEFINITION

This field specifies the financial institution through which the transaction must pass to reach the account with
institution.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

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Category 2 - Financial Institution Transfers for Standards MT November 2015

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

146 Message Reference Guide

 MT 205 COV Financial Institution Transfer Execution

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

8. Field 57a: Account With Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

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Category 2 - Financial Institution Transfers for Standards MT November 2015

PRESENCE

Conditional (see rule C1) in mandatory sequence A

DEFINITION

This field identifies the financial institution which will pay or credit the beneficiary institution.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

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CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When field 57a is not present, it means that the Receiver is also the account with institution.

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

9. Field 58a: Beneficiary Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field specifies the financial institution which has been designated by the ordering institution as the
ultimate recipient of the funds being transferred.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

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CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should
appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

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When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross
settlement (RTGS), the code //RT should appear in the optional Party Identifier.

The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other
information. If it is used with option D, it may be followed by another domestic clearing code.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

10. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative Structured Format)

The following line formats must be used:

Line 1 /8c/[additional information] (Code)(Narrative)

Lines 2-6 [//continuation of additional information] (Narrative)
or or
[/8c/[additional information]] (Code)(Narrative)

PRESENCE

Optional in mandatory sequence A

DEFINITION

This field specifies additional information for the Receiver.

CODES

One or more of the following codes may be used in Code, placed between slashes ('/'):

ACC Account with Instructions following are for the account with institution.
institution

BNF Beneficiary Information following is for the beneficiary.

INS Instructing The instructing institution which instructed the Sender or

institution previous institution in the transaction chain, to execute the
transaction.

INT Intermediary Instructions following are for the intermediary institution.

institution

PHON Telephone Please advise account with institution by phone.

PHONBEN Telephone Please advise/contact beneficiary/claimant by phone.

Beneficiary

PHONIBK Phone Intermediary Please advise intermediary by phone.

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REC Receiver Instructions following are for the Receiver of the message.

TELE Telecommunication Please advise the account with institution by the most efficient
means of telecommunication.

TELEBEN Telecommunication Please advise the beneficiary/claimant by the most efficient

means of telecommunication.

TELEIBK Telecommunication Please advise the intermediary by the most efficient means of
telecommunication.

TSU Trade Services The code placed between slashes ('/') must be followed by the
Utility transaction TSU transaction identifier, a slash ('/'), the invoice number, a
slash ('/') and the amount paid.

NETWORK VALIDATED RULES

If the first six characters in line 1 contain the character string /REJT/ or /RETN/, then it is mandatory to follow
the Payments Reject/Return Guidelines described in the Standards MT Usage Guidelines (Error code(s):
T80).

USAGE RULES

Field 72 must never be used for information for which another field is intended.

Each item of information contained in this field must be preceded by a code which specifically indicates the
party for which it is intended.

Codes must be placed between slashes and at the beginning of a line. Additional explanatory information,
which may be continued on the next lines, is preceded by a double slash '//'.

Narrative text that is not qualified by a code, must start with a double slash '//' on a new line, and, should
preferably be the last information in this field.

It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use
of codes in this field are in effect, the code must conform to the structure of this field.

Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the
presence of this field will normally require manual intervention.

This field may contain ERI to transport dual currencies, as specified in the chapter entitled "Euro-Related
Information (ERI)" in the Standards MT General Information.

In order to comply with the EC-directive on cross border credit transfers, the optional code word EXCH may be
used to transport an exchange rate. In line with ERI, the code word EXCH is placed between slashes, followed
by the exchange rate, format 12d, and terminated with another slash.

The code INS may be repeated to specify all previously involved financial institutions in the transaction chain.

Instructing institutions should be indicated in the order in which they were involved in the transaction chain,
that is, the first occurrence specifies the financial institution that received the instruction from the ordering
institution and passed it on to the next institution in the transaction chain; the last occurrence always indicates
the institution that instructed the sender of this message to execute the transaction.

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11. Field 50a: Ordering Customer

FORMAT

Option A [/34x] (Account)

4!a2!a2!c[3!c] (Identifier Code)
Option F 35x (Party Identifier)
4*35x (Name and Address)
Option K [/34x] (Account)
4*35x (Name and Address)

In option F, the following line formats must be used (Error code(s): T54):

Line 1 (subfield Party /34x (Account)

Identifier)
Lines 2-5 (subfield 1!n/33x (Number)(Details)
Name and Address)

Or

Line 1 (subfield Party 4!a/2!a/27x (Code)(Country Code)(Identifier)

Identifier)
Lines 2-5 (subfield 1!n/33x (Number)(Details)
Name and Address)

PRESENCE

Mandatory in mandatory sequence B

DEFINITION

This field specifies the customer ordering the transaction.

CODES

In option F, when Party Identifier is used with the (Code)(Country Code)(Identifier) format, one of the following
codes must be used in Code (Error code(s): T55):

ARNU Alien Registration The code followed by a slash, '/' must be followed by the ISO country
Number code, a slash, '/' and the Alien Registration Number.

CCPT Passport Number The code followed by a slash, '/' must be followed by the ISO country
code, a slash, '/' and the Passport Number.

CUST Customer The code followed by a slash, '/' must be followed by the ISO country
Identification code of the issuer of the number, a slash, '/', the issuer of the number,
Number a slash, '/' and the Customer Identification Number.

DRLC Driver's Licence The code followed by a slash, '/' must be followed by the ISO country
Number code of the issuing authority, a slash, '/', the issuing authority, a slash,
'/' and the Driver's Licence Number.

EMPL Employer Number The code followed by a slash, '/' must be followed by the ISO country
code of the registration authority, a slash, '/', the registration authority,
a slash, '/' and the Employer Number.

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NIDN National Identity The code followed by a slash, '/' must be followed by the ISO country
Number code, a slash, '/' and the National Identity Number.

SOSE Social Security The code followed by a slash, '/' must be followed by the ISO country
Number code, a slash, '/' and the Social Security Number.

TXID Tax Identification The code followed by a slash, '/' must be followed by the ISO country
Number code, a slash, '/' and the Tax Identification Number.

CODES

In option F, Number must contain one of the following values (Error code(s): T56):

1 Name of the The number followed by a slash, '/' must be followed by the name of
Ordering Customer the ordering customer.

2 Address Line The number followed by a slash, '/' must be followed by an Address
Line (Address Line can be used to provide for example, street name
and number, or building name).

3 Country and Town The first occurrence of number 3 must be followed by a slash, '/', the
ISO country code, and optionally a slash '/' followed by additional
details.
Other occurrence(s) of number 3 must be followed by a slash '/' and
the continuation of additional details.
Additional details can contain town, which can be complemented by
postal code (for example zip) and country subdivision (for example
state, province, or county).
It is preferred that the country code and town indicate the country and
town of residence.

4 Date of Birth The number followed by a slash, '/' must be followed by the Date of
Birth in the YYYYMMDD format.

5 Place of Birth The number followed by a slash, '/' must be followed by the ISO
country code, a slash '/' and the Place of Birth.

6 Customer The number followed by a slash, '/' must be followed by the ISO
Identification country code, a slash, '/', the issuer of the number, a slash, '/' and the
Number Customer Identification Number.

7 National Identity The number followed by a slash, '/' must be followed by the ISO
Number country code, a slash, '/' and the National Identity Number.

8 Additional
Information The number followed by a slash, '/' is followed by information
completing one of the following:

• the Identifier provided in subfield 1 (Party Identifier) used with the

(Code)(Country Code)(Identifier) format.

• the Customer Identification Number provided in subfield 2 (Name

and Address) with number 6.

• the National Identity Number provided in subfield 2 (Name and

Address) with number 7.

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

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In option F, subfield 1 (Party Identifier) used with the (Code)(Country Code)(Identifier) format: Country Code
must be a valid ISO country code (Error code(s): T73).

In option F, subfield 2 (Name and Address):

• The first line must start with number 1 (Error code(s): T56).

• Numbers must appear in numerical order (Error code(s): T56).

• Number 2 must not be used without number 3 (Error code(s): T56).

• The first occurrence of number 3 must be followed by a valid ISO country code (Error code(s): T73).

• Number 4 must not be used without number 5 and vice versa (Error code(s): T56).

• Number 4 must be followed by a valid date in the format YYYYMMDD and this date, local to the sender,
must not be later than the date on which the message is successfully sent to SWIFT (Error code(s): T50).

• Numbers 5, 6 and 7 must be followed by a valid ISO country code (Error code(s): T73), a slash '/' and
additional Details (Error code(s): T56).

• Numbers 4, 5, 6, 7 and 8 must not be repeated (Error code(s): T56).

• The use of number 8 is only allowed in the following instances (Error code(s): T56):

◦ to continue information on the Identifier of the ordering customer provided in subfield 1 (Party Identifier)
used with the (Code)(Country Code)(Identifier) format.

◦ to continue information on the Customer Identification Number provided in subfield 2 (Name and
Address) following number 6.

◦ to continue information on the National Identity Number provided in subfield 2 (Name and Address)
following number 7.

USAGE RULES

The field must contain the ordering customer of the underlying customer credit transfer that was sent with the
cover method.

12. Field 52a: Ordering Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional in mandatory sequence B

DEFINITION

This field specifies the financial institution of the ordering customer, when different from the Sender, even if
field 50a contains an IBAN.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

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The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

SC 6!n UK Domestic Sort Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

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PT 8!n Portuguese National Clearing Code

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

If an Ordering Institution field was present in the underlying customer credit transfer that was sent with the
cover method, then this field must carry that Ordering Institution.

13. Field 56a: Intermediary Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option C /34x (Party Identifier)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional in mandatory sequence B

DEFINITION

This field specifies the financial institution through which the transaction must pass to reach the account with
institution.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

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ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

NZ 6!n New Zealand National Clearing Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

CODES

In option C, or D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

NZ 6!n New Zealand National Clearing Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

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SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

If an Intermediary Institution field was present in the underlying customer credit transfer that was sent with the
cover method, then this field must carry that Intermediary Institution.

14. Field 57a: Account With Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option C /34x (Party Identifier)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Conditional (see rule C2) in mandatory sequence B

DEFINITION

This field specifies the financial institution which services the account for the beneficiary customer. This is
applicable even if field 59a contains an IBAN.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

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FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

NZ 6!n New Zealand National Clearing Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option C, or D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

NZ 6!n New Zealand National Clearing Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RT Pay by Real Time Gross Settlement

RU 9!n Russian Central Bank Identification Code

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SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

If an Account With Institution field was present in the underlying customer credit transfer that was sent with the
cover method, then this field must carry that Account With Institution.

15. Field 59a: Beneficiary Customer

FORMAT

No letter option [/34x] (Account)

4*35x (Name and Address)
Option A [/34x] (Account)
4!a2!a2!c[3!c] (Identifier Code)
Option F [/34x] (Account)
4*(1!n/33x) (Number)/(Name and Address Details)

PRESENCE

Mandatory in mandatory sequence B

DEFINITION

This field specifies the customer which will be paid.

CODES

Account may contain one of the following codes, preceded by a double slash '//':

CH 6!n CHIPS Universal Identifier

CODES

In option F, Number must contain one of the following values (Error code(s): T56):

1 Name of the The number followed by a slash, '/' must be followed by the name of
Beneficiary the beneficiary customer.
Customer

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2 Address Line The number followed by a slash, '/' must be followed by an Address
Line (Address Line can be used to provide for example, street name
and number, building name or post office box number).

3 Country and Town The first occurrence of number 3 must be followed by a slash, '/', the
ISO country code, and optionally a slash '/' followed by additional
details.
Other occurrence(s) of number 3 must be followed by a slash '/' and
the continuation of additional details.
Additional details can contain Town, which can be complemented by
postal code (for example zip) and country subdivision (for example,
state, province, or county).
It is preferred that the country code and town indicate the country and
town of residence, as provided by the ordering customer.

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

In option F, for subfields (Number)(Name and Address Details):

• The first line must start with number 1 (Error code(s): T56).

• Numbers must appear in numerical order (Error code(s): T56).

• Number 2 must not be used without number 3 (Error code(s): T56).

• The first occurrence of number 3 must be followed by a valid ISO country code (Error code(s): T73).

USAGE RULES

The field must contain the beneficiary customer of the underlying customer credit transfer that was sent with
the cover method.

16. Field 70: Remittance Information

FORMAT

4*35x (Narrative)

PRESENCE

Optional in mandatory sequence B

DEFINITION

This field specifies either the details of the individual transaction or a reference to another message containing
the details which are to be transmitted to the beneficiary customer.

CODES

One of the following codes may be used, placed between slashes ('/'):

INV Invoice Invoice (followed by the date, reference and details of the invoice).

IPI International Unique reference identifying a related International Payment

Payment Instruction (followed by up to 20 characters).
Instruction

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RFB Reference for Reference for the beneficiary customer (followed by up to 16

Beneficiary characters).

ROC Reference of Ordering customer's reference.

Customer

TSU Trade Services The code placed between slashes ('/') must be followed by the TSU
Utility transaction transaction identifier, a slash ('/'), the invoice number, a slash ('/') and
the amount paid.

USAGE RULES

If a Remittance Information field was present in the underlying customer credit transfer that was sent with the
cover method, then this field must carry that Remittance Information.

17. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative Structured Format)

The following line formats must be used:

Line 1 /8c/[additional information] (Code)(Narrative)

Lines 2-6 [//continuation of additional information] (Narrative)
or or
[/8c/[additional information]] (Code)(Narrative)

PRESENCE

Optional in mandatory sequence B

DEFINITION

This field specifies additional information for the Receiver or other party specified.

CODES

Unless bilaterally agreed otherwise between the Sender and the Receiver, one of the following codes must be
used in Code, placed between slashes ('/'):

ACC Account with Instructions following are for the account with institution.
institution

INS Instructing The instructing institution which instructed the Sender or previous
institution institution in the transaction chain, to execute the transaction.

INT Intermediary Instructions following are for the intermediary institution.

institution

REC Receiver Instructions following are for the Receiver of the message.

USAGE RULES

If a Sender to Receiver Information field was present in the underlying customer credit transfer that was sent
with the cover method, then this field must carry that Sender to Receiver Information.

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18. Field 33B: Currency/Instructed Amount

FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

Optional in mandatory sequence B

DEFINITION

This field specifies the currency and amount of the instruction. This amount is provided for information
purposes and has to be transported unchanged through the transaction chain.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

USAGE RULES

If a Currency/Instructed Amount field was present in the underlying customer credit transfer that was sent with
the cover method, then this field must carry that Currency/Instructed Amount.

MT 205 COV Examples

Example 1: MT 205 COV as cover of MT 103
Narrative

Value 27 May 2009, Mr. Big orders Bank A, Brussels to pay an invoice with number 1234 of USD 10,500.00 to
Mr. Small who has an account 987654321 with Bank B, London.

Bank A processes this transaction through cover method by sending:

A. A customer credit transfer message MT 103 to Bank B, using reference 090525/123COV.

B. A message MT 202 COV with reference 090525/124COV for the USD payment to its USD correspondent
Bank C, New York for credit of Bank B, Brussels on their account 123444555 at Bank D, New York.

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Information Flow

Ordering Mr. Big

Customer Brussels
Message B
Bank A
Sender MT
Brussels

Sender's MT 202 Bank C

Correspondent COV New York

Message A
Message C
MT
MT

MT 103 MT 205
COV

Receiver's Bank D
Correspondent New York
Bank B
Receiver London
MT 910/950

Beneficiary Mr. Small

D0020026
Customer London

Message A SWIFT MT 103 Single Customer Credit Transfer

SWIFT Message, MT 103

Explanation Format

Sender AAAABEBB

Message type 103

Receiver BBBBGB22

Message text

Sender's reference :20:090525/123COV

Bank operation code :23B:CRED

Value date/currency code/amount :32A:090527USD10500,00

Currency/Instructed Amount :33B:USD10500,00

Ordering customer :50F:/123564982101

1/MR. BIG
2/HIGH STREET 3
3/BE/BRUSSELS

Sender's correspondent :53A:CCCCUS33

Receiver's correspondent :54A:DDDDUS33

Beneficiary customer :59F:/987654321

1/MR. SMALL
2/LOW STREET 15
3/GB/LONDON

Remittance information :70:/INV/1234

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Explanation Format

Details of charges :71A:SHA

End of message text/trailer

Message B SWIFT MT 202 COV

Information Flow

Ordering Mr. Big

Customer Brussels
Message B
Bank A
Sender MT
Brussels

Sender's MT 202 Bank C

Correspondent COV New York

Message A
Message C
MT
MT

MT 103 MT 205
COV

Receiver's Bank D
Correspondent New York
Bank B
Receiver London
MT 910/950

Beneficiary Mr. Small

D0020026
Customer London

SWIFT Message, MT 202 COV

Explanation Format

Sender AAAABEBB

Message type 202

Receiver CCCCUS33

Validation flag :119:COV

Message Text: General Information

Transaction reference number :20:090525/124COV

Related reference (1) :21:090525/123COV

Value date/currency code/amount :32A:090527USD10500,00

Account with Institution :57A:DDDDUS33

Beneficiary institution :58A:BBBBGB22

Underlying Customer Credit Transfer Details

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Explanation Format

Ordering customer :50F:/123564982101

1/MR. BIG
2/HIGH STREET 3
3/BE/BRUSSELS

Beneficiary customer :59F:/987654321

1/MR. SMALL
2/LOW STREET 15
3/GB/LONDON

Remittance information :70:/INV/1234

Currency/Instructed Amount :33B:USD10500,00

End of message text/trailer

(1) The related reference is the Sender's Reference of the MT 103 Customer Credit Transfer.

Message C SWIFT MT 205 COV

On receipt of the MT 202 COV from Bank A, Bank C, New York sends an MT 205 COV with reference
987COV to Bank D, New York for credit of their client Bank B, Brussels on their account 123444555.

Information Flow

Ordering Mr. Big

Customer Brussels
Message B
Bank A
Sender MT
Brussels

Sender's MT 202 Bank C

Correspondent COV New York

Message A
Message C
MT
MT

MT 103 MT 205
COV

Receiver's Bank D
Correspondent New York
Bank B
Receiver London
MT 910/950

Beneficiary Mr. Small

D0020026

Customer London

SWIFT Message, MT 205 COV

Explanation Format

Sender CCCCUS33

Message type 205

Receiver DDDDUS33

Validation flag :119:COV

168 Message Reference Guide

 MT 205 COV Financial Institution Transfer Execution

Explanation Format

Message Text: General Information

Transaction reference number :20:987COV

Related reference (1) :21:090525/123COV

Value date/currency code/amount :32A:090527USD10500,00

Ordering Institution :52A:AAAABEBB

Beneficiary institution :58A:BBBBGB22

Underlying Customer Credit Transfer Details

Ordering customer :50F:/123564982101

1/MR. BIG
2/HIGH STREET 3
3/BE/BRUSSELS

Beneficiary customer :59F:/987654321

1/MR. SMALL
2/LOW STREET 15
3/GB/LONDON

Remittance information :70:/INV/1234

Currency/Instructed Amount :33B:USD10500,00

End of message text/trailer

(1) The related reference is the related reference of the MT 202 COV.

24 July 2015 169

Category 2 - Financial Institution Transfers for Standards MT November 2015

MT 207 Request For Financial Institution Transfer

Note: The use of this message type requires Message User Group (MUG) registration.

MT 207 Scope
This message is used to move funds from the ordering financial institution's account, serviced at the receiving
financial institution or at the account servicing institution, or from an account(s) owned by the ordering
institution for which the initiating institution has explicit authority to debit, for example, a subsidiary account.

It can be used to order the movement of funds:

• between the ordering institution's accounts, or

• in favour of a third party, either domestically or internationally.

The message is sent by a financial institution on behalf of the ordering financial institution, that is, the account
owning financial institution, or on behalf of the initiating financial institution. It is subsequently received by a
financial institution and processed by this receiving financial institution or another account servicing financial
institution.

The complete chain of parties and the transaction flow is illustrated by the following figure:

Initiating Ordering
Institution Institution
51A 52G

Request

Sender

Funds
MT

MT 207

Funds
Receiver Account Servicing
52a Institution

Funds

Intermediary
56a

Funds

Account
With Institution 57a

Funds

Beneficiary
Institution
D0020020

58a

170 Message Reference Guide

 MT 207 Request For Financial Institution Transfer

The parties mentioned in the chain are not necessarily different entities. The first column of the table below
shows the parties that can be omitted in an MT 207. The second column specifies the party which assumes
the role of the party in the first column, when it is not present:

If the following party is missing ... Its function is assumed by ...

Initiating institution Ordering institution

Account servicing institution Receiver

Intermediary Account with institution

Account with institution Receiver

MT 207 Format Specifications

The MT 207 consists of two sequences:

• Sequence A General Information is a single occurrence mandatory sequence and contains information to
be applied to all individual transactions detailed in sequence B.

• Sequence B Transaction Details is a repetitive sequence; each occurrence provides details of one
individual transaction.

MT 207 Request For Financial Institution Transfer

Status Tag Field Name Content/Options No.

Mandatory Sequence A General Information

M 20 Sender's Reference 16x 1

O 21R Specified Reference of the Ordering Institution 16x 2

M 28D Message Index/Total 5n/5n 3

M 30 Requested Execution Date 6!n 4

O 51A Initiating Institution [/1!a][/34x] 5

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

M 52G Ordering Institution /34x 6

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

O 52a Account Servicing Institution A or C 7

O 72 Sender to Receiver Information 6*35x 8

End of Sequence A General Information

-----> Mandatory Repetitive Sequence B Transaction Details

M 21 Transaction Reference 16x 9

----->

O 23E Instruction Code 4!c[/30x] 10

-----|

M 32B Currency/Transaction Amount 3!a15d 11

O 56a Intermediary A or D 12

24 July 2015 171

Category 2 - Financial Institution Transfers for Standards MT November 2015

Status Tag Field Name Content/Options No.

O 57a Account With Institution A, C, or D 13

M 58a Beneficiary Institution A or D 14

-----| End of Sequence B Transaction Details

M = Mandatory, O = Optional

MT 207 Network Validated Rules

C1 In each occurrence of sequence B: if field 56a is present then field 57a must also be present (Error
code(s): D65).

If field 56a is ... Then field 57a is ...

Present Mandatory

Not present Optional

MT 207 Usage Rules

• If field 21R is present in sequence A, and field 28D indicates that more than one message is chained for
this request for transfer instruction, the currency code must be the same for all occurrences of field 32B in
sequence B of all chained messages.

• In case field 23E identifies with a code a sweeping (CMSW), topping (CMTO) or zero balancing (CMZB)
operation, the transaction amount in field 32B can equal zero.

• In case field 28D indicates that messages are chained, all messages belonging to the same chain must
have exactly the same sender's reference in field 20.

• In case field 28D indicates that messages are chained, sequence A must be repeated and be identical for
all messages belonging to the same chain.

MT 207 Field Specifications

1. Field 20: Sender's Reference
FORMAT

16x

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field specifies the reference assigned by the Sender to unambiguously identify the message.

172 Message Reference Guide

 MT 207 Request For Financial Institution Transfer

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

USAGE RULES

The reference must be unique for each message (or chain of messages) and is part of the message
identification and transaction identification which is to be used in related queries, cancellations, etc.

2. Field 21R: Specified Reference of the Ordering Institution

FORMAT

Option R 16x

PRESENCE

Optional in mandatory sequence A

DEFINITION

This field specifies the reference to the entire message assigned by either the:

• initiating institution, when present or

• ordering institution, when the initiating institution is not present.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

USAGE RULES

When this field is present, the ordering institution requests a single debit entry for the sum of the amounts of
all transactions in the instruction, even if this instruction is chained in several messages. If the field is not
used, all debit items are posted individually.

3. Field 28D: Message Index/Total

FORMAT

Option D 5n/5n (Message Index)/(Total)

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field chains different messages by specifying the sequence number in the total number of messages.

24 July 2015 173

Category 2 - Financial Institution Transfers for Standards MT November 2015

USAGE RULES

Both the message index and the total number of messages allow the receiver to check that all transactions to
be executed have been received.

4. Field 30: Requested Execution Date

FORMAT

6!n (Date)

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field specifies the date on which all subsequent transactions should be initiated by the executing bank.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

USAGE RULES

This is the date on which the ordering institution's account is to be debited.

5. Field 51A: Initiating Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)

PRESENCE

Optional in mandatory sequence A

DEFINITION

This field identifies the institution which is authorised by the ordering institution/account servicing institution to
order all the transactions in the message.

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

This field must only be used when the initiating institution is not also the ordering institution.

Optional Party Identifier must not be used.

174 Message Reference Guide

 MT 207 Request For Financial Institution Transfer

6. Field 52G: Ordering Institution

FORMAT

Option G /34x (Account)

4!a2!a2!c[3!c] (Identifier Code)

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field identifies the account owning financial institution whose account is to be debited with all transactions
in sequence(s) B.

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

Account contains the account number of the ordering institution at the Receiver or at the account servicing
institution.

Financial institution BIC contains the identification of the ordering institution.

7. Field 52a: Account Servicing Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option C /34x (Party Identifier)

PRESENCE

Optional in mandatory sequence A

DEFINITION

This field specifies the account servicing institution - when other than the Receiver - which services the
account of the ordering institution to be debited.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

24 July 2015 175

Category 2 - Financial Institution Transfers for Standards MT November 2015

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

SC 6!n UK Domestic Sort Code

CODES

In option C, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RU 9!n Russian Central Bank Identification Code

176 Message Reference Guide

 MT 207 Request For Financial Institution Transfer

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

The coded information contained in field 52a should be meaningful to the Receiver of the message.

Option A is the preferred option.

If the account servicing institution cannot be identified by a financial institution BIC, option C should be used
containing a 2!a clearing system code preceded by a double slash '//'.

8. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative Structured Format)

The following line formats must be used:

Line 1 /8c/[additional information] (Code)(Narrative)

Lines 2-6 [//continuation of additional information] (Narrative)
or or
[/8c/[additional information]] (Code)(Narrative)

PRESENCE

Optional in mandatory sequence A

DEFINITION

This field specifies additional information for the Receiver, that is, Sender of the original message regarding
the reason for a return, that is, reversal, rejection or revocal.

CODES

The following codes must be used in this field in the first position of the first line ( Code), placed between
slashes ('/') (Error code(s): D82).

REJT Rejected Instruction rejected.

RETN Return Return.

24 July 2015 177

Category 2 - Financial Institution Transfers for Standards MT November 2015

NETWORK VALIDATED RULES

It is mandatory to follow the Payments Reject/Return Guidelines described in the Standards MT Usage
Guidelines (Error code(s): T80).

USAGE RULES

The Reject/Return mechanism is used to reject or return all the transactions within the MT 207 message. For
returns or rejections of a single transaction within the MT 207 (that is, sequence B), the MT 295 should be
used as per the Standards MT Usage Guidelines.

9. Field 21: Transaction Reference

FORMAT

16x

PRESENCE

Mandatory in mandatory sequence B

DEFINITION

This field specifies the unambiguous reference for the individual transaction contained in a particular
occurrence of sequence B.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

USAGE RULES

In transaction specific queries, cancellations, etc., the Sender's reference together with the content of this field
provides the transaction identification.

10. Field 23E: Instruction Code

FORMAT

Option E 4!c[/30x] (Instruction Code)(Additional Information)

PRESENCE

Optional in mandatory sequence B

DEFINITION

This field specifies instructions for the subsequent parties in the transaction chain.

CODES

Instruction Code must contain one of the following codes (Error code(s): T47):

178 Message Reference Guide

 MT 207 Request For Financial Institution Transfer

CMSW Sweep the account This transaction contains a cash management instruction, requesting
to sweep the account of the ordering institution.

CMTO Top the account This transaction contains a cash management instruction, requesting
to top the account of the ordering institution above a certain floor
amount. The floor amount, if not pre-agreed by the parties involved,
may be specified after the code.

CMZB Zero balance the This transaction contains a cash management instruction, requesting
account to zero balance the account of the ordering institution.

CORT Corporate trade Payment is made in settlement of a trade, for example, foreign
exchange deal, securities transaction.

NETS Net Settlement This transaction contains a payment that should be settled via a net
System settlement system, if available.

OTHR Other Used for bilaterally agreed codes/information. The actual bilateral
code/information needs to be specified in Additional Information.

PHON Telephone This transaction requires the beneficiary to be contacted by telephone

and should be followed by the appropriate telephone number. This
code is meant for the institution closest to the beneficiary institution.

RTGS RTGS payment This transaction contains a payment that should be settled via a real
time gross settlement system, if available.

URGP Urgent Payment This transaction contains a time-sensitive payment which should be
executed in an expeditious manner.

NETWORK VALIDATED RULES

Additional Information is only allowed when Instruction Code consists of one of the following codes: CMTO,
PHON or OTHR (Error code(s): D66).

In each occurrence of sequence B: when this field is used more than once, the following combinations are not
allowed (Error code(s): D67).

CMSW with CMTO

CMSW with CMZB

CMTO with CMZB

CORT with CMSW

CORT with CMTO

CORT with CMZB

NETS with RTGS

In each occurrence of sequence B: when this field is repeated, the same code word must not be present more
than once with the exception of OTHR. The code word OTHR may be repeated (Error code(s): E46).

USAGE RULES

To facilitate the receiving bank's processing when multiple codes are used, the codes must appear in the
following order:

• instructions for the receiver of the message (CMSW, CMTO, CMZB, CORT, URGP)

• codes impacting the routing or composition of the resulting payment message (NETS, RTGS)

24 July 2015 179

Category 2 - Financial Institution Transfers for Standards MT November 2015

• codes containing instructions for one of the following parties in the transaction chain (PHON)

• information codes ( OTHR)

11. Field 32B: Currency/Transaction Amount

FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

Mandatory in mandatory sequence B

DEFINITION

This field specifies the currency and amount of the subsequent transfer to be executed by the Receiver.

NETWORK VALIDATED RULES

Currency must be the same for all occurrences of this field (Error code(s): C02).

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

The codes XAU, XAG, XPD and XPT are not allowed, as these are codes for commodities for which the
category 6 commodities messages must be used (Error code(s): C08).

12. Field 56a: Intermediary

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional in mandatory sequence B

DEFINITION

This field specifies the financial institution through which the transaction must pass to reach the account with
institution.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

180 Message Reference Guide

 MT 207 Request For Financial Institution Transfer

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

SC 6!n UK Domestic Sort Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

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Category 2 - Financial Institution Transfers for Standards MT November 2015

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

The intermediary may be a branch or affiliate of the Receiver or the account with institution, or an entirely
different financial institution.

When one of the codes //FW (with or without the 9-digit number), //AU, //CP or //IN is used, it should appear
only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier of field 56a, 57a or 58a.

Option A is the preferred option.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

13. Field 57a: Account With Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option C /34x (Party Identifier)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Conditional (see rule C1) in mandatory sequence B

DEFINITION

This field specifies the financial institution - when other than the Receiver - which services the account for the
beneficiary institution.

182 Message Reference Guide

 MT 207 Request For Financial Institution Transfer

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

SC 6!n UK Domestic Sort Code

CODES

In option C, or D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

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Category 2 - Financial Institution Transfers for Standards MT November 2015

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When field 57a is not present, it means that the Receiver is also the account with institution.

When one of the codes //FW (with or without the 9-digit number), //AU, //CP or //IN is used, it should appear
only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier of field 56a, 57a or 58a.

Option A is the preferred option.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

14. Field 58a: Beneficiary Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Mandatory in mandatory sequence B

184 Message Reference Guide

 MT 207 Request For Financial Institution Transfer

DEFINITION

This field specifies the beneficiary financial institution of the subsequent operation from the particular
occurrence of sequence B.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

SC 6!n UK Domestic Sort Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

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Category 2 - Financial Institution Transfers for Standards MT November 2015

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When one of the codes //FW (with or without the 9-digit number), //AU, //CP or //IN is used, it should appear
only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier of field 56a, 57a or 58a.

Party Identifier may contain the beneficiary financial institution's account number.

If the message is used to request the transfer of funds between the ordering financial institution's accounts,
this field must contain the BIC of this institution.

Option A is the preferred option.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

MT 207 Examples
Narrative

The Canadian Imperial Bank of Commerce, Canada (CIBCCATT) owns a euro account (account number
123456) at Deutsche Bank, Frankfurt (DEUTDEFF).

186 Message Reference Guide

 MT 207 Request For Financial Institution Transfer

The Canadian Imperial Bank of Commerce is a customer of Deutsche Bank, Toronto (DEUTCATT) and
instructs this bank via a proprietary link to ask Deutsche Bank, Frankfurt to make a euro payment to Banco
Bilbao Vizcaya Argentaria, Madrid, via an RTGS system, using CIBCCATT's EUR account at DEUTDEFF.

Information Flow

Instruction

CIBCCATT DEUTCATT

MT 207

TARGET
system

DEUTDEFF BBVAESMM

D0020022
SWIFT Message

Explanation Format

Sender DEUTCATT

Message type 207

Receiver DEUTDEFF

Message text - General Information

Sender's Reference :20:ABCDEF

Message Index/Total :28D:1/1

Requested Execution Date :30:090110

Ordering Institution :52G:/123456

CIBCCATT

Message text - Transaction Details 1

Transaction Reference :21:REFBOF123

Instruction Code :23E:RTGS

Currency/Transaction Amount :32B:EUR500000,

Beneficiary Institution :58A:BBVAESMM

End of message text/trailer

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Category 2 - Financial Institution Transfers for Standards MT November 2015

MT 210 Notice to Receive

MT 210 Scope
This message type is:

• sent by an account owner to one of its account servicing institutions.

• sent by a party authorised by the account owner to one of its account servicing institutions.

It is an advance notice to the account servicing institution that it will receive funds to be credited to the
Sender's account.

For use of messages in the corporate to bank environment, see the MT message implementation guide for
corporate customers available on www.swift.com.

MT 210 Format Specifications

MT 210 Notice to Receive
Status Tag Field Name Content/Options No.

M 20 Transaction Reference Number 16x 1

O 25 Account Identification 35x 2

M 30 Value Date 6!n 3

----->

M 21 Related Reference 16x 4

M 32B Currency Code, Amount 3!a15d 5

O 50a Ordering Customer No letter option, C, or F 6

O 52a Ordering Institution A or D 7

O 56a Intermediary A or D 8

-----|

M = Mandatory, O = Optional

MT 210 Network Validated Rules

C1 The repetitive sequence must not appear more than ten times (Error code(s): T10).

C2 Either field 50a or field 52a, but not both, must be present in a repetitive sequence (Error code(s):
C06).

If field 50a is ... Then field 52a is ...

Present Not allowed

Not present Mandatory

188 Message Reference Guide

 MT 210 Notice to Receive

C3 The currency code must be the same for all occurrences of field 32B in the message (Error code(s):
C02).

MT 210 Usage Rules

This message should not be used for commodities. To notify a party of the receipt of commodities, the MT 605
should be used.

MT 210 Field Specifications

1. Field 20: Transaction Reference Number
FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field specifies the reference assigned by the Sender to unambiguously identify the instruction.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

EXAMPLE

:20:oref1000

2. Field 25: Account Identification

FORMAT

35x (Account)

PRESENCE

Optional

DEFINITION

This field identifies the account to be credited with the incoming funds.

USAGE RULES

This field is used when the Receiver services more than one account for the Sender.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

3. Field 30: Value Date

FORMAT

6!n (Date)

PRESENCE

Mandatory

DEFINITION

This field contains the value date of all incoming funds specified in this message.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

4. Field 21: Related Reference

FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field contains the content of field 20 Transaction Reference Number, or other reference, for example,
Common Reference, of the related transaction.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

EXAMPLE

:21:ref1234

5. Field 32B: Currency Code, Amount

FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

Mandatory

190 Message Reference Guide

 MT 210 Notice to Receive

DEFINITION

This field specifies the currency and amount to be received.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

The codes XAU, XAG, XPD and XPT are not allowed, as these are codes for commodities for which the
category 6 commodities messages must be used (Error code(s): C08).

6. Field 50a: Ordering Customer

FORMAT

No letter option 4*35x (Name and Address)

Option C 4!a2!a2!c[3!c] (Identifier Code)
Option F 35x (Party Identifier)
4*35x (Name and Address)

In option F, the following line formats must be used: (Error code(s): T54)

Line 1 (subfield Party /34x (Account)

Identifier)
Lines 2-5 (subfield 1!n/33x (Number)(Details)
Name and Address)

Or

Line 1 (subfield Party 4!a/2!a/27x (Code)(Country Code)(Identifier)

Identifier)
Lines 2-5 (subfield 1!n/33x (Number)(Details)
Name and Address)

PRESENCE

Conditional (see rule C2)

DEFINITION

This field specifies the ordering party when it is not a financial institution.

CODES

In option F, when Party Identifier is used with the (Code)(Country Code)(Identifier) format, one of the following
codes must be used in Code (Error code(s): T55):

ARNU Alien Registration The code followed by a slash, '/' must be followed by the ISO country
Number code, a slash, '/' and the Alien Registration Number.

24 July 2015 191

Category 2 - Financial Institution Transfers for Standards MT November 2015

CCPT Passport Number The code followed by a slash, '/' must be followed by the ISO country
code, a slash, '/' and the Passport Number.

CUST Customer The code followed by a slash, '/' must be followed by the ISO country
Identification code of the issuer of the number, a slash, '/', the issuer of the number,
Number a slash, '/' and the Customer Identification Number.

DRLC Driver's Licence The code followed by a slash, '/' must be followed by the ISO country
Number code of the issuing authority, a slash, '/', the issuing authority, a slash,
'/' and the Driver's Licence Number.

EMPL Employer Number The code followed by a slash, '/' must be followed by the ISO country
code of the registration authority, a slash, '/', the registration authority,
a slash, '/' and the Employer Number.

NIDN National Identity The code followed by a slash, '/' must be followed by the ISO country
Number code, a slash, '/' and the National Identity Number.

SOSE Social Security The code followed by a slash, '/' must be followed by the ISO country
Number code, a slash, '/' and the Social Security Number.

TXID Tax Identification The code followed by a slash, '/' must be followed by the ISO country
Number code, a slash, '/' and the Tax Identification Number.

CODES

In option F, Number must contain one of the following values (Error code(s): T56):

1 Name of the The number followed by a slash, '/' must be followed by the name of
Ordering Customer the ordering customer.

2 Address Line The number followed by a slash, '/' must be followed by an Address
Line (Address Line can be used to provide for example, street name
and number, or building name).

3 Country and Town The first occurrence of number 3 must be followed by a slash, '/', the
ISO country code, and optionally a slash '/' followed by additional
details.
Other occurrence(s) of number 3 must be followed by a slash '/' and
the continuation of additional details.
Additional details can contain town, which can be complemented by
postal code (for example zip) and country subdivision (for example
state, province, or county).
It is preferred that the country code and town indicate the country and
town of residence.

4 Date of Birth The number followed by a slash, '/' must be followed by the Date of
Birth in the YYYYMMDD format.

5 Place of Birth The number followed by a slash, '/' must be followed by the ISO
country code, a slash '/' and the Place of Birth.

6 Customer The number followed by a slash, '/' must be followed by the ISO
Identification country code of the issuer of the number, a slash, '/', the issuer of the
Number number, a slash, '/' and the Customer Identification Number.

7 National Identity The number followed by a slash, '/' must be followed by the ISO
Number country code, a slash, '/' and the National Identity Number.

192 Message Reference Guide

 MT 210 Notice to Receive

8 Additional
Information The number followed by a slash, '/' is followed by information
completing one of the following:

• the Identifier provided in subfield 1 (Party Identifier) used with the

(Code)(Country Code)(Identifier) format.

• the Customer Identification Number provided in subfield 2 (Name

and Address) with number 6.

• the National Identity Number provided in subfield 2 (Name and

Address) with number 7.

NETWORK VALIDATED RULES

Identifier Code must be a non-financial institution BIC (Error code(s): T27,T28,T29,T45,E57).

In option F, subfield 1 (Party Identifier) used with the (Code)(Country Code)(Identifier) format: Country Code
must be a valid ISO country code (Error code(s): T73).

In option F, subfield 2 (Name and Address):

• The first line must start with number 1 (Error code(s): T56).

• Numbers must appear in numerical order (Error code(s): T56).

• Number 2 must not be used without number 3 (Error code(s): T56).

• Number 4 must not be used without number 5 and vice versa (Error code(s): T56).

• Number 4 must be followed by a valid date in the format YYYYMMDD and this date, local to the sender,
must not be later than the date on which the message is successfully sent to SWIFT (Error code(s): T50).

• Numbers 5, 6 and 7 must be followed by a valid ISO country code (Error code(s): T73), a slash '/' and
additional Details (Error code(s): T56).

• The first occurrence of number 3 must be followed by a valid ISO country code (Error code(s): T73).

• Numbers 4, 5, 6, 7 and 8 must not be repeated (Error code(s): T56).

• The use of number 8 is only allowed in the following instances (Error code(s): T56):

◦ to continue information on the Identifier of the ordering customer provided in subfield 1 (Party Identifier)
used with the (Code)(Country Code)(Identifier) format.

◦ to continue information on the Customer Identification Number provided in subfield 2 (Name and
Address) following number 6.

◦ to continue information on the National Identity Number provided in subfield 2 (Name and Address)
following number 7.

USAGE RULES

If the account number of the ordering customer is known, it must be stated in Account.

In option F, subfield 2 (Name and Address): Numbers 1, 2 and 3 may be repeated.

In option F, subfield 2 (Name and Address): if number 2 is present, the first occurrence of number 3 must
include the town in additional details.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

In option F, subfield 1 (Party Identifier) used with the (Code)(Country Code)(Identifier) format: if additional
space is required for providing the Identifier of the ordering customer, one of the following options must be
used:

1. First option (preferred): Identify the ordering customer with a different identifier where the length is not an
issue.

2. Second option: Continue the information in subfield 2 (Name and Address) using number 8.

In option F, subfield 2 (Name and Address): if additional space is required for providing the Customer
Identification Number (number 6) or the National Identity Number (number 7) of the ordering customer, one of
the following options must be used:

1. First option (preferred): Identify the ordering customer with a different identifier where the length is not an
issue.

2. Second option: Continue the information in subfield 2 (Name and Address) using number 8.

EXAMPLE

Option F - Example 1

:50F:/12345678
1/SMITH JOHN
2/299, PARK AVENUE
3/US/NEW YORK, NY 10017

Option F - Example 2

:50F:/BE30001216371411
1/PHILIPS MARK
4/19720830
5/BE/BRUSSELS

Option F - Example 3

:50F:DRLC/BE/BRUSSELS/NB0949042
1/DUPONT JACQUES
2/HIGH STREET 6, APT 6C
3/BE/BRUSSELS

Option F - Example 4

:50F:NIDN/DE/121231234342
1/MANN GEORG
6/DE/ABC BANK/1234578293

Option F - Example 5

:50F:CUST/DE/ABC BANK/123456789/8-123456
1/MANN GEORG
2/LOW STREET 7
3/DE/FRANKFURT
8/7890

This means that the customer identification number of Mann Georg assigned by ABC Bank is
123456789/8-1234567890.

194 Message Reference Guide

 MT 210 Notice to Receive

7. Field 52a: Ordering Institution

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Conditional (see rule C2)

DEFINITION

This field specifies the ordering party when it is a financial institution.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

SC 6!n UK Domestic Sort Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

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Category 2 - Financial Institution Transfers for Standards MT November 2015

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

When the Sender is also the ordering institution, it will be repeated in this field.

The coded information contained in field 52a must be meaningful to the Receiver of the message.

Option A is the preferred option.

Option D should only be used when the ordering financial institution has no BIC.

8. Field 56a: Intermediary

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)

196 Message Reference Guide

 MT 210 Notice to Receive

Option D [/1!a][/34x] (Party Identifier)

4*35x (Name and Address)

PRESENCE

Optional

DEFINITION

This field specifies the financial institution from which the Receiver is to receive the funds.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

SC 6!n UK Domestic Sort Code

ZA 6!n South African National Clearing Code

CODES

In option D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

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Category 2 - Financial Institution Transfers for Standards MT November 2015

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

This field is used when the intermediary institution is other than the ordering party.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

MT 210 Examples
Narrative

Value 22 February 2010, Berliner Bank, Berlin, as a result of a foreign exchange deal (Common Reference -
BEBEBB0023CRESZZ) with Credit Suisse, Zurich, is expecting US Dollars 230,000 to be credited to its
account at Chase Manhattan Bank, New York.

198 Message Reference Guide

 MT 210 Notice to Receive

The funds will be paid through Citibank, New York.

Berliner Bank sends an MT 210, using reference 318393.

Information Flow

(MT 300)
Ordering Institution Crédit Suisse
(MT 300) 52a Zurich

Sender Berliner Bank

(MT 202) Berlin

MT
Intermediary Citibank
56a New York
MT 210

(MT 205*)

Receiver Chase Manhattan

Bank, New York

D0020013
* Or its equivalent domestic clearing message

SWIFT Message, MT 210

Explanation Format

Sender BEBEDEBB

Message type 210

Receiver CHASUS33

Message text

Transaction reference number :20:318393

Value Date :30:100222

Related reference (1) :21:BEBEBB0023CRESZZ

Currency code and amount :32B:USD230000,

Ordering institution :52A:CRESCHZZ

Intermediary (2) :56A:CITIUS33

End of message text/trailer

(1) Field 21 of the incoming funds transfer. In this case, the reference contained in field 21 is a common
reference from the related foreign exchange transaction. It will also appear in field 21 of the related funds
transfer instruction.
(2) The financial institution from which the funds will be received.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

MT 256 Advice of Non-Payment of Cheques

Note: The use of this message type requires Message User Group (MUG) registration.

MT 256 Scope
This message is sent by the Receiver of one or more cheque truncation messages. It is used to inform the
Sender of (a) previously sent cheque truncation message(s) of the non-payment of specified truncated
cheques.

This message may only be used to specify dishonoured items that result in reversing a previous payment
settlement.

MT 256 Format Specifications

The MT 256 consists of three types of sequences:

• Sequence A Common Elements is a non-repetitive sequence and contains information applicable to all
individual cheques detailed in sequence B.

• Sequence B Cheque Details is a repetitive sequence where each occurrence provides details of an
individual cheque.

• Sequence C Settlement Details is a non-repetitive sequence and contains settlement information

applicable to all cheques detailed in sequence B.

MT 256 Advice of Non-Payment of Cheques

Status Tag Field Name Content/Options No.

Mandatory Sequence A Common Elements

M 20 Sender's Reference 16x 1

O 21 Related Message Reference 16x 2

End of Sequence A Common Elements

-----> Mandatory Repetitive Sequence B Cheque Details

M 44A Transaction Reference Number 65x 3

O 21 Related Message Reference 16x 4

O 21D Cheque Number 35x 5

O 21E Cheque Reference Number 35x 6

M 23E Reason for Non-Payment/Dishonour 4!c[/30x] 7

M 32J Cheque Amount 15d 8

O 37J Interest Rate 12d 9

O 71G Interest Charges 3!a15d 10

O 71F Sender's Charges 3!a15d 11

200 Message Reference Guide

 MT 256 Advice of Non-Payment of Cheques

Status Tag Field Name Content/Options No.

O 71H Issuer's Financial Institution Charges 3!a15d 12

-----| End of Sequence B Cheque Details

Mandatory Sequence C Settlement Details

M 32A Value Date, Currency Code and Total Amount 6!n3!a15d 13

Claimed

O 30 Original Value Date 6!n 14

O 19 Total Cheque Amount 17d 15

O 71J Sum of Interest Charges 3!a15d 16

O 71L Sum of Sender's Charges 3!a15d 17

O 71K Sum of Issuer's Financial Institution Charges 3!a15d 18

O 57a Account With Institution (for Settlement) A, C, or D 19

O 58B Beneficiary Institution's Account (for Settlement) [/1!a][/34x] 20

[35x]

End of Sequence C Settlement Details

M = Mandatory, O = Optional

MT 256 Network Validated Rules

C1 If field 37J is present, then field 71G must also be present (Error code(s): E25).

If field 37J in sequence B is ... Then field 71G in sequence B is ...

Present Mandatory

Not present Optional

C2 The amount specified in field 71L in sequence C must be equal to the sum of all occurrences of field
71F in sequence B (Error code(s): E26).

C3 The amount specified in field 71J in sequence C must be equal to the sum of all occurrences of field
71G in sequence B (Error code(s): E27).

C4 The currency code in the amount fields (71F, 71G, 71H, 71J, 71K, 71L, 32A) must be the same for all
occurrences of these fields in the message (Error code(s): C02).

C5 If the amount in field 32A of sequence C is equal to the sum of the amounts in the fields 32J of
sequence B, then field 19 must not be present; otherwise (that is the amount in field 32A of sequence
C is not equal to the sum of the amounts in fields 32J of sequence B), field 19 must be present (Error
code(s): D80).

C6 If charges are included, field 19 must be present. It must contain the sum of amounts of all fields 32J in
sequence B (Error code(s): C01).

C7 Field 21 must be present either in sequence A, or in all occurrences of sequence B (Error code(s):
E28).

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Category 2 - Financial Institution Transfers for Standards MT November 2015

If field 21 in sequence A is ... Then field 21 in sequence B is ...

Present Not allowed

Not present Mandatory in all occurrences

If field 21 in sequence B is ... Then field 21 in sequence A is ...

Present Not allowed

Not present Mandatory

C8 If field 71F is present in any occurrence of sequence B, then field 71L must be present in sequence C.
Otherwise, field 71L is not allowed (Error code(s): E29).

If field 71F in sequence B is ... Then field 71L in sequence C is ...

Present in any occurrence Mandatory

Not present in any occurrence Not allowed

C9 If field 71G is present in any occurrence of sequence B, then field 71J must be present in sequence C.
Otherwise, field 71J is not allowed (Error code(s): E30).

If field 71G in sequence B is ... Then field 71J in sequence C is ...

Present in any occurrence Mandatory

Not present in any occurrence Not allowed

C10 If field 71H is present in any occurrence of sequence B, then field 71K must be present in sequence C.
Otherwise, field 71K is not allowed (Error code(s): E31).

If field 71H in sequence B is ... Then field 71K in sequence C is ...

Present in any occurrence Mandatory

Not present in any occurrence Not allowed

C11 The amount specified in field 71K in sequence C must be equal to the sum of all occurrences of field
71H in sequence B (Error code(s): E32).

MT 256 Usage Rules

• The MT 256 can only be sent or received by financial institutions which have registered with SWIFT to
send or receive the MT 256. If a registered user receives an MT 256 without bilateral agreement with the
Sender, the Receiver should query the message according to normal banking practice.

• This message must not be used to specify reasons that at a later stage could lead to a non-payment, for
example, a request for a photocopy to check the signature. For this, an MT 295 Queries must be used, for
which special codes are provided.

• For dishonoured cheques in different currencies, different MT 256s must be used.

• When the Sender does not have authority to debit the Receiver's account, the Receiver of the MT 256
must credit the account according to the specified value date.

202 Message Reference Guide

 MT 256 Advice of Non-Payment of Cheques

• Field 30 may only be used if the original value date differs from the value date provided in this field.
Absence of field 30 implies that the value date in field 32A is taken from the original cheque truncation
message.

MT 256 Field Specifications

1. Field 20: Sender's Reference
FORMAT

16x

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field specifies the reference assigned by the Sender to unambiguously identify the instruction.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

EXAMPLE

:20:oref1000

2. Field 21: Related Message Reference

FORMAT

16x

PRESENCE

Conditional (see rule C7) in mandatory sequence A

DEFINITION

This field contains the Sender's reference of the previously received cheque truncation message.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

EXAMPLE

:21:ref1234

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Category 2 - Financial Institution Transfers for Standards MT November 2015

3. Field 44A: Transaction Reference Number

FORMAT

Option A 65x

PRESENCE

Mandatory in mandatory sequence B

DEFINITION

This field contains the transaction reference number of the previously received cheque truncation message,
generated by the beneficiary's financial institution, which identifies the transaction that this dishonoured
cheque represents.

EXAMPLE

:44A:abc12354

4. Field 21: Related Message Reference

FORMAT

16x

PRESENCE

Conditional (see rule C7) in mandatory sequence B

DEFINITION

This field contains the Sender's reference of the previously received cheque truncation message in case this
MT 256 is informing of the non-payment of cheques in the same currency that were included in different
MTs 256.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

EXAMPLE

:21:ref1234

5. Field 21D: Cheque Number

FORMAT

Option D 35x

PRESENCE

Optional in mandatory sequence B

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 MT 256 Advice of Non-Payment of Cheques

DEFINITION

This field contains the number of the cheque that has been dishonoured, normally inserted on the cheque by
the issuer's financial institution.

USAGE RULES

This field must be the same as the cheque number specified in the original cheque truncation message.

EXAMPLE

:21D:9987434

6. Field 21E: Cheque Reference Number

FORMAT

Option E 35x

PRESENCE

Optional in mandatory sequence B

DEFINITION

This field contains the reference of the cheque, as generated by the beneficiary's financial institution.

USAGE RULES

This reference is usually the archive reference (microfilm) and is as such used as a link to the physical item.

This field must be quoted if it is present in the original cheque truncation message.

EXAMPLE

:21E:888014612

7. Field 23E: Reason for Non-Payment/Dishonour

FORMAT

Option E 4!c[/30x] (Code)(Narrative)

PRESENCE

Mandatory in mandatory sequence B

DEFINITION

This field indicates why a cheque was dishonoured.

CODES

Code must contain one of the following codes (Error code(s): T47):

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AMAM Amount exceeds Amount exceeds the amount limit allowed for this account.
limit

AMTL Amount exceeds Amount exceeds the truncation limit as defined in the bilateral
limit agreement (min. or max. amount).

CLOS Closed account The account specified is closed.

COLN Code line Error in code line.

DRAW Drawer Refer to drawer.

DUPL Duplicate Duplicate cheque information.

FRAU Fraudulent cheque Fraudulent cheque.

FROZ Frozen account (Legally) Frozen account.

FRWD Forward Forward dated cheque.

INCH Invalid cheque The cheque number is invalid.

number

INSF Insufficient funds Insufficient funds.

INSI Insufficient Insufficient information.

information

INVA Invalid Account number is invalid.

NELI Not Eligible Cheques not eligible for truncation.

NMAT Non-Match Currency and account do not match.

OTHR Other Other followed by a bilaterally agreed code to specify a reason which
is not covered by the above.

REVO Revocation Revocation.

STLD Stale Stale cheque, that is, deposited too late relative to the issue date.

STOP Stop payment Stop payment of a cheque.

NETWORK VALIDATED RULES

Narrative may only be used in combination with the code OTHR (Error code(s): D81).

USAGE RULES

The code OTHR may only be used when bilaterally agreed. When used, Narrative must also be present.

EXAMPLE

:23E:INSI

8. Field 32J: Cheque Amount

FORMAT

Option J 15d (Amount)

206 Message Reference Guide

 MT 256 Advice of Non-Payment of Cheques

PRESENCE

Mandatory in mandatory sequence B

DEFINITION

This field contains the amount specified on the dishonoured cheque.

NETWORK VALIDATED RULES

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the currency specified in field 32A (Error code(s): C03,T40,T43).

USAGE RULES

This field must be the same as the cheque amount specified in the original cheque truncation message.

EXAMPLE

:32J:100000,

9. Field 37J: Interest Rate

FORMAT

Option J 12d (Rate)

PRESENCE

Optional in mandatory sequence B

DEFINITION

This field specifies the interest rate to be collected from the Sender of the cheque truncation message.

NETWORK VALIDATED RULES

The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the
maximum length (Error code(s): T40,T43).

10. Field 71G: Interest Charges

FORMAT

Option G 3!a15d (Currency)(Amount)

PRESENCE

Conditional (see rule C1) in mandatory sequence B

DEFINITION

This field specifies the currency and the interest charges due to the Sender of the MT 256.

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NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

USAGE RULES

These interest charges are computed at a prevailing interest rate (field 37J) from the original value date (field
30) up to the date when recovery of funds is expected to take place (field 32A).

EXAMPLE

:71G:USD3,

11. Field 71F: Sender's Charges

FORMAT

Option F 3!a15d (Currency)(Amount)

PRESENCE

Optional in mandatory sequence B

DEFINITION

This field specifies the currency and the charges due to the Sender of the MT 256, if different from the issuer's
financial institution, for the above specified reason.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

EXAMPLE

:71F:USD3,

12. Field 71H: Issuer's Financial Institution Charges

FORMAT

Option H 3!a15d (Currency)(Amount)

PRESENCE

Optional in mandatory sequence B

208 Message Reference Guide

 MT 256 Advice of Non-Payment of Cheques

DEFINITION

This field specifies the currency and the charges due to the issuer's financial institution, for the above
specified reason.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

EXAMPLE

:71H:USD8,

13. Field 32A: Value Date, Currency Code and Total Amount Claimed
FORMAT

Option A 6!n3!a15d (Date)(Currency)(Amount)

PRESENCE

Mandatory in mandatory sequence C

DEFINITION

This field specifies the date when the recovery of funds is expected to take place, followed by the currency
and the total amount to be claimed.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

EXAMPLE

:32A:961201USD1350,

14. Field 30: Original Value Date

FORMAT

6!n (Date)

PRESENCE

Optional in mandatory sequence C

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Category 2 - Financial Institution Transfers for Standards MT November 2015

DEFINITION

This field specifies the value date that appeared on the related cheque truncation message.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

USAGE RULES

As this message is sent after provisional credit has been given to the beneficiary, any consequential interests
can also be taken into account, by specifying that date. In this case, that is, when back-valuing is applied, no
separate fields must be used to indicate the interest charges.

EXAMPLE

:30:980108

15. Field 19: Total Cheque Amount

FORMAT

17d (Amount)

PRESENCE

Conditional (see rules C5 and C6) in mandatory sequence C

DEFINITION

This field specifies the sum of all occurrences of field 32J in sequence B.

NETWORK VALIDATED RULES

The integer part of the Amount must contain at least one digit. A decimal comma is mandatory and is included
in the maximum length. The number of decimal digits in field 19 must not exceed the maximum for its
corresponding currency in field 32A in sequence C (Error code(s): C03,T40,T43).

EXAMPLE

:19:1350,

16. Field 71J: Sum of Interest Charges

FORMAT

Option J 3!a15d (Currency)(Amount)

PRESENCE

Conditional (see rule C9) in mandatory sequence C

DEFINITION

This field specifies the currency and the sum of all occurrences of field 71G in sequence B.

210 Message Reference Guide

 MT 256 Advice of Non-Payment of Cheques

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

EXAMPLE

:71J:USD50,

17. Field 71L: Sum of Sender's Charges

FORMAT

Option L 3!a15d (Currency)(Amount)

PRESENCE

Conditional (see rule C8) in mandatory sequence C

DEFINITION

This field specifies the currency and the sum of all occurrences of field 71F in sequence B.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

EXAMPLE

:71L:USD234,

18. Field 71K: Sum of Issuer's Financial Institution Charges

FORMAT

Option K 3!a15d (Currency)(Amount)

PRESENCE

Conditional (see rule C10) in mandatory sequence C

DEFINITION

This field specifies the currency and the sum of all occurrences of field 71H in sequence B.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

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Category 2 - Financial Institution Transfers for Standards MT November 2015

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in
the maximum length. The number of digits following the comma must not exceed the maximum number
allowed for the specified currency (Error code(s): C03,T40,T43).

EXAMPLE

:71K:USD343,

19. Field 57a: Account With Institution (for Settlement)

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option C /34x (Party Identifier)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name and Address)

PRESENCE

Optional in mandatory sequence C

DEFINITION

This field identifies the account with institution at which the Sender wants to have the funds (re)credited.

CODES

In option A, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CN 12..14n China National Advanced Payment System (CNAPS) Code

ES 8..9n Spanish Domestic Interbanking Code

FW without 9 digit code Pay by Fedwire

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

SC 6!n UK Domestic Sort Code

212 Message Reference Guide

 MT 256 Advice of Non-Payment of Cheques

ZA 6!n South African National Clearing Code

CODES

In option C, or D, Party Identifier may be used to indicate a national clearing system code.

The following codes may be used, preceded by a double slash '//':

AT 5!n Austrian Bankleitzahl

AU 6!n Australian Bank State Branch (BSB) Code

BL 8!n German Bankleitzahl

CC 9!n Canadian Payments Association Payment Routing Number

CH 6!n CHIPS Universal Identifier

CN 12..14n China National Advanced Payment System (CNAPS) Code

CP 4!n CHIPS Participant Identifier

ES 8..9n Spanish Domestic Interbanking Code

FW 9!n Fedwire Routing Number

GR 7!n HEBIC (Hellenic Bank Identification Code)

HK 3!n Bank Code of Hong Kong

IE 6!n Irish National Clearing Code (NSC)

IN 11!c Indian Financial System Code (IFSC)

IT 10!n Italian Domestic Identification Code

PL 8!n Polish National Clearing Code (KNR)

PT 8!n Portuguese National Clearing Code

RU 9!n Russian Central Bank Identification Code

SC 6!n UK Domestic Sort Code

SW 3..5n Swiss Clearing Code (BC code)

SW 6!n Swiss Clearing Code (SIC code)

ZA 6!n South African National Clearing Code

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a
FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test
& Training destinations (Error code(s): C05).

USAGE RULES

This field may only be used where the settlement does not follow the same route as the MT 256 (this
message).

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Category 2 - Financial Institution Transfers for Standards MT November 2015

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US
banks require that the code //FW appears in the optional Party Identifier.

Option A must be used whenever possible.

Option D must only be used in exceptional circumstances: when the party cannot be identified by a financial
institution BIC, when there is a need to be able to specify a name and address, for example, due to regulatory
considerations or when there is a bilateral agreement between the Sender and the Receiver permitting its use.

When qualified by a clearing system code or an account number, the use of option D will enable the
automated processing of the instruction(s) by the Receiver.

EXAMPLE

:57A:MIDLGB2L

20. Field 58B: Beneficiary Institution's Account (for Settlement)

FORMAT

Option B [/1!a][/34x] (Party Identifier)

[35x] (Location)

PRESENCE

Optional in mandatory sequence C

DEFINITION

This field specifies the account number of the financial institution which is the ultimate recipient of the funds
being (re)transferred (that is the receiver of the cheque truncation message).

USAGE RULES

Party Identifier is to be used to specify the account to be credited, where

• there are multiple direct account relationships in the currency of the transaction between the Sender and
account with institution

• one of these accounts is to be used for reimbursement

• there is no bilaterally agreed account.

EXAMPLE

:58B:/123-45678

MT 256 Examples
Narrative

On 10 December 2009, Thomas Cook, London informs Standard Bank of South Africa, Johannesburg that the
following travellers cheques are dishonoured in the cheque truncation message it received from Standard
Bank of South Africa (message reference 091201123456AA).

TRN Cheque Number Amount Reason for dishonour

214 Message Reference Guide

 MT 256 Advice of Non-Payment of Cheques

Cheque 1 0912010IJKL235693 EB33333333 GBP10, Stopped cheque

Cheque 2 091201ZZZZ123456AA GB66666666 GBP20, Invalid cheque

number

Since Thomas Cook, London has already reimbursed Standard Bank of South Africa, it wants to have the
funds recredited to its account held at Midland Bank, London (account number 123456), back-valuing the
amount with the value date used on the original cheque truncation message (original value date 091207).

Information Flow

Sender (MT 910/950) Thomas Cook

London

Account Midland Bank

With Institution London

MT
Cheque
truncation MT 256 (MT 205*)
message
Natwest
London

Receiver (MT 202)

Standard Bank
of South Africa

D0020014
Johannesburg
* Or its equivalent domestic clearing message

SWIFT Message, MT 256

Explanation Format

Sender COOKGB22

Message Type 256

Receiver SBZAZAJJ

Message Text

Sender's Reference :20:IPD/S0001/PAIDS

Related Message Reference :21:091201123456AA

Transaction Reference Number :44A:091201IJKL235693

Cheque Number :21D:EB33333333

Reason for Non-Payment/Dishonour :23E:STOP

Cheque Amount :32J:10,

Transaction Reference Number :44A:091201ZZZZ123456AA

Cheque Number :21D:GB66666666

Reason for Non-Payment/Dishonour :23E:INCH

Cheque Amount :32J:20,

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Category 2 - Financial Institution Transfers for Standards MT November 2015

Explanation Format

Value Date, Currency Code and Total Amount :32A:091207GBP30,

Claimed

Account With Institution :57A:MIDLGB22

Beneficiary Institution's Account :58B:/123456

End of Message Text/Trailer

MT 256 Checklist
It is strongly recommended that the following checklist be used by financial institutions as a basis for setting
up bilateral or multilateral agreements for processing truncated cheques.

It is recommended that all items listed be covered in the bilateral or multilateral agreements. In order to further
facilitate the setting up of these agreements, common procedures have been defined which financial
institutions may choose to override.

The checklist is not intended to provide an exhaustive list of items nor does SWIFT claim any responsibility for
it. Topics may include:

Currency & amount

• Specify minimum and maximum amounts per type of cheque

• Specify currencies accepted per type of cheque

• Set out the procedure to follow when there is a discrepancy between the code line and another field, for
example, the amount

• Unless otherwise agreed, cheque truncation messages are expressed in either the currency of the sending
or the receiving country. If financial institutions wish to accept third currencies this should be bilaterally
agreed.

Rules & regulations covering cheque truncation

• Enumerate (inter)national laws and regulations

• Specify regulatory reporting requirements

• Specify the period within which a cheque can be protested, per type of cheque/place of issue (see also
'Dates and Time frames')

• Specify data or fields in the cheque truncation message and the MT 256 that are mandatory for legal
purposes and processing requirements

• Define stale date

• List the criteria for cheque truncation

• An existing cash letter agreement could be extended to cater for cheque truncation as well. This may
simplify the new agreement.

Responsibility
• Endorsement issue - Agree on procedures to follow, for example, normally the beneficiary's financial
institution must endorse that the party that cashes the cheque is the legitimate beneficial party

216 Message Reference Guide

 MT 256 Advice of Non-Payment of Cheques

• Back of cheque - Since it is very difficult to automatically truncate this information, the truncation
agreement should make it the truncating party's responsibility to ensure that the truncated cheques contain
all legally required endorsements.

• Define the responsible parties at each stage of the whole process, for example, whether or not the
beneficiary's financial institution can determine stale dated cheques. Also the agreement should establish
the party responsible for verifying certain parts, for example, Code Line, of the truncated cheque.

• The capture and verification of the Code Line are key elements to the success of check truncation.
Therefore, establish ways of avoiding bad code lines such as:

◦ using a specific control key to help manual keying when the code line is unreadable

◦ avoiding double truncation of a cheque through automatic checking at the point of capture.

Paper cheque
• Specify which party must safekeep the original

• Agree the period the original must be kept

• Agree whether or not the cheque (or a copy) must be sent to the drawee bank and if so when

• Agree the route the paper cheque must follow, if any (where it differs from the truncation route).

Supported types of truncated cheques

• Agree bilateral codes to indicate the type of electronic cheque/model/format.

Charges
• Define the types of charges, per type of cheque, the currency and the amount

• Define the charging period, for example, once a month

• Unless otherwise agreed, charges will always be expressed in the same currency as the transaction
amount(s) and settlement amount of the message.

Settlement
• Where there is a direct account relationship between the sender and receiver of the cheque truncation
message, the cheque truncation message can be used as a financial message to request to credit the
account of the Sender automatically.

• Whatever the agreement, transactions contained in a message will always be booked as a single entry.

Administration
• Define the contact address, for example, postal address, department, telephone number, fax number, to be
used in the event of questions.

Dates and Time frames

• Agree on the time frame required by the receiver of the cheque truncation message to execute the
payment of valid truncated cheques. This time frame starts at an agreed cut-off time for receipt of incoming
messages by the receiver.

Messages received before the cut-off time, will receive final settlement on a pre-agreed day which is a
(number of) day(s) following the day of receipt (day of receipt = D).

For messages received after cut-off time, the final settlement time frame will be based on D+1.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

D is the basis for calculating the value date, that is, date when the funds are available to the Beneficiary.

• Agree the time frames for sending back charges.

• Determine the period in which items may be returned/dishonoured, and how such items should be
conveyed, for example, CD-ROM, diskette, Internet, mail.

Remittance Information
• Agree whether any, and if so which, information should be conveyed in field 72 through the use of
bilaterally agreed codes.

218 Message Reference Guide

 MT 290 Advice of Charges, Interest and Other Adjustments

MT 290 Advice of Charges, Interest and Other

Adjustments
See Category n - Common Group Messages, Chapter n90 Advice of Charges, Interest and Other Adjustments
for details concerning this message type.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

MT 291 Request for Payment of Charges, Interest and

Other Expenses
See Category n - Common Group Messages, Chapter n91 Request for Payment of Charges, Interest and
other Expenses for details concerning this message type.

220 Message Reference Guide

 MT 292 Request for Cancellation

MT 292 Request for Cancellation

See Category n - Common Group Messages, Chapter n92 Request for Cancellation for details concerning this
message type.

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Category 2 - Financial Institution Transfers for Standards MT November 2015

MT 295 Queries
See Category n - Common Group Messages, Chapter n95 Queries for details concerning this message type.

222 Message Reference Guide

 MT 296 Answers

MT 296 Answers
See Category n - Common Group Messages, Chapter n96 Answers for details concerning this message type.

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MT 298 Proprietary Message

See Category n - Common Group Messages, Chapter n98 Proprietary Message for details concerning this
message type.

224 Message Reference Guide

 MT 299 Free Format Message

MT 299 Free Format Message

See Category n - Common Group Messages, Chapter n99 Free Format Message for details concerning this
message type.

24 July 2015 225

Category 2 - Financial Institution Transfers for Standards MT November 2015

Glossary of Terms
In addition to the definitions which appear in Standards General Information, Glossary of Terms, the following
terms apply to category 2 message types:

Available Funds Funds available for transfer or withdrawal in cash.

Bankleitzahl An eight digit numeric code used to identify banks in Germany. It may only
be assigned, changed or cancelled by Deutsche Bundesbank, in Germany.

CHIPS (Clearing House A private telecommunications payment service operated by the New York
Interbank Payments System) Clearing House Association for banks in the New York area, which
handles US dollar payments only.

CHIPS Participant A bank authorised to send and receive payments on the CHIPS system.

CHIPS Participant ID (ABA A unique number identifying a CHIPS participant. The first four digits are
Number) the participant's number, followed by a one digit group identifier. For
SWIFT purposes, only the first four digits of the CHIPS Participant ID will
be used.

CHIPS Settling Participant A CHIPS Participant responsible for the settlement of its own CHIPS net
debit or credit position at the end of the CHIPS business day.

CHIPS Universal Identifier A unique six digit number assigned by CHIPS to identify an account.

Cover Payment The reimbursement of a correspondent bank for a payment.

Federal Funds US dollars on deposit at a Federal Reserve Bank in the United States.

Fedwire A payment service operated by the US Federal Reserve System as a

private wire network for transfers between financial institutions having
accounts at the Federal Reserve Bank.

Fedwire Routing Number A nine digit numeric code used to identify banks in the United States.

Funds Transfer Complete movement of funds between the originator and the beneficiary.
A funds transfer may consist of one or more funds transfer transactions.

Funds Transfer Transaction The movement of funds directly between two parties, involving no
intermediaries other than a payment or communications service.

Immediate Funds Same day funds in which the settlement is simultaneous with execution of
the transaction.

Instructing Party The party instructing the Sender to execute a transaction.

Originator Initiator of the transfer instructions. Equivalent to the ordering institution

(field 52a) in the MT 202.

Originator's Institution Identifies the financial institution which is acting for the originator of the
transfer.

Remitter The party which is the source of funds in a payment order.

Same Day Funds The funds available for transfer today, or for withdrawal in cash, subject to
the settlement of the transaction through the payment mechanism used.

Settlement A transfer of funds to complete one or more prior transactions made,

subject to final accounting.

226 Message Reference Guide

 Legal Notices

Legal Notices
Copyright

SWIFT © 2015. All rights reserved.

Disclaimer

The information in this publication may change from time to time. You must always refer to the latest available version.

SWIFT Standards Intellectual Property Rights (IPR) Policy - End-User License Agreement

SWIFT Standards are licensed subject to the terms and conditions of the SWIFT Standards IPR Policy - End-User License
Agreement available at www.swift.com > About SWIFT > Legal > SWIFT Standards IPR Policy.

Translations

The English version of SWIFT documentation is the only official and binding version.

Trademarks

SWIFT is the trade name of S.W.I.F.T. SCRL. The following are registered trademarks of SWIFT: the SWIFT logo, SWIFT,
SWIFTNet, Accord, Sibos, 3SKey, Innotribe, the Standards Forum logo, MyStandards, and SWIFT Institute. Other product,
service, or company names in this publication are trade names, trademarks, or registered trademarks of their respective
owners.

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