Swift Payments
Swift Payments are payment initiation messages used by corporations to send book to book, domestic wire, and/or international payments instructions. TxB does not support ACH payments over Swift at this time.
- MT 101 -
It is a payment initiation message that can be used to order movement of funds between ordering customer accounts or in favor of a third party. The message is sent by a financial institution or a non-financial institution to an account servicing a financial institution
Layout of MT 101
Overview
Similar to the headers explained earlier in this document, message blocks contain the following elements: Start of block indicator, Block identifier, Separator, Block Content and End of block indicator. The hierarchy and sequence of tags is illustrated below followed by the tag details.
| Requirement | Field | Field Name |
|---|---|---|
Sequence A General Information [Mandatory, non-repetitive] | ||
| Mandatory | 20 | Sender's Reference |
| Optional | 21R | Customer Specified Reference |
| Mandatory | 28D | Message Index/Total |
| Optional | 50a | Instructing Party |
| Optional | 50H | Ordering Customer |
| Optional | 52A | Account Servicing Institution |
| Optional | 51A | Sending Institution |
| Mandatory | 30 | Requested Execution Date |
| Optional | 25 | Authorization |
End of Sequence A General Information | ||
Sequence B Transaction Details [Mandatory, repetitive] | ||
| Mandatory | 21 | Transaction Reference |
| Optional | 21F | F/X Deal Reference |
| Optional | 23E | Instruction Code |
| Mandatory | 32B | Currency/Transaction Amount |
| Optional | 50a | Instructing Party |
| Optional | 50H | Ordering Customer |
| Optional | 52A | Account Servicing Institution |
| Optional | 56a | Intermediary |
| Optional | 57a | Account with Institution |
| Mandatory | 59 | Beneficiary |
| Optional | 70 | Remittance Information |
| Optional | 77B | Regulatory Reporting |
| Optional | 33B | Currency/Original ordered amount |
| Mandatory | 71A | Details of Charges |
| Optional | 25A | Charges Amount |
| Optional | 36 | Exchange Rate |
End of Sequence B Transaction Details'} | ||
Tag Details
| Tag | Sub Field | Field Name | Field Limit | Mandatory(M) / Optional(O) | Sample Usage | Remarks |
|---|---|---|---|---|---|---|
| 20 | Sender's Reference | 16X | M | 1023930 | File Message ID, Unique identification for a file. This cannot be repeated | |
| 21R | Customer Specified Reference | 16X | O | If provided, needs to be a unique identifier | ||
| 28D | Message Index/Total | 5N/5N | M | 1/1 | Chain of messages specifying the sequence number for messages | |
| 50a | Instructing Party | O | ||||
| C | Identifier Code | 11A | GS to ignore | |||
| L | Party Identifier | 35X | GS to ignore | |||
| 50H | Ordering Customer | O | /105082926 1/Thomas Cook Inc. 2/A12361 PARK STREET 3/UK/LONDON/SE16 2XU | This field identifies the account owner whose account is to be debited with all transactions in sequence B | ||
| F | Line 1:Party Identifier Line 2:Name and Address | 35X 4*35X | /[Account Number] 1/[Name] 2/[Address Line(s)] 3/[ISO Country Code]/[Town Name]/[Postal Code] | If address is provided, at least Town Name and Country are mandatory in Tag 50F Suffix 3 | ||
| G | Line 1:Account Line 2:Identifier Code | /34X 11A | GS to ignore | |||
| H | Line 1:Account Line 2:Name and Address | /34X 4*35X | If address is provided, at least Town Name and Country are mandatory in Tag 50F Suffix 3 | |||
| 52a | Account Servicing Institution | O | This field specifies the account servicing institution - when other than the Receiver - which services the account of the account owner to be debited | |||
| A | Line 1:Party Identifier Line 2:Identifier Code | /34X 11A | Servicing Institution Identifier and BIC details to be used | |||
| C | Party Identifier | /34X | GS to ignore | |||
| 51A | Account Sending Institution | O | This field identifies the Sender of the message | |||
| A | Line 1:Party Identifier Line 2:Identifier Code | /34X 11A | GS to ignore | |||
| 30 | Requested Execution Date | YYMMDD | M | 161024 | Date of execution of transaction. Please use date of file delivery only. Global Payments transactions can be up to two business days in the future. Domestic Wires can be up to thirty calendar days in the future | |
| 25 | Authorization | 35X | O | GS to ignore | ||
Transaction Details | ||||||
| 20 | Transaction reference | 16X | M | TRN0000123456789 | Must be unique for each transaction | |
| 21F | F/X Deal Reference | 16X | O | TRN0000123456789 | This field specifies the foreign exchange contract reference between the ordering customer and the account servicing financial institution | |
| 23E | Instruction Code | 4A | O | GS to ignore | ||
| 32B | Currency/ Transaction Amount | 3A15B | M | EUR20500,50 | Amount to be sent to the creditor in the currency of transfer ISO Currency code and Amount with comma as a decimal separator | |
| 50a | Instructing Party | O | Identifies the customer which is authorized by the account owner/account servicing institution to order the transactions in this particular occurrence of sequence B | |||
| C | Identifier Code | 11A | GS to ignore | |||
| L | Party Identifier | 35X | GS to ignore | |||
| 50H | Ordering Customer | O | /105082926 1/Thomas Cook Inc. 2/A12361 PARK STREET 3/UK/LONDON/SE16 2XU | This field identifies the ordering customer which is the account owner ordering the transaction in the same occurrence of the sequence | ||
| F | Line 1:Party Identifier Line 2:Name and Address | 35X 4*35X | /[Account Number] 1/[Name] 2/[Address Line(s)] 3/[ISO Country Code]/[Town Name]/[Postal Code] | If address is provided, at least Town Name and Country are mandatory in Tag 50F Suffix 3 | ||
| G | Line 1:Account Line 2:Identifier Code | /34X 11A | GS to ignore | |||
| H | Line 1:Account Line 2:Name and Address | /34X 4*35X | If address is provided, at least Town Name and Country are mandatory in Tag 50F Suffix 3 | |||
| 52a | Account Servicing Institution | O | This field specifies the account servicing institution - when other than the Receiver - which services the account of the account owner to be debited | |||
| A | Line 1:Party Identifier Line 2:Identifier Code | /34X 11A | Servicing Institution Identifier and BIC details to be used | |||
| C | Party Identifier | /34X | GS to ignore | |||
| 56a | Intermediary | O | /SC123456 1/GLOBAL INTERMEDIARY BANK 2/100 FINANCIAL PLAZA 3/US/NEW YORK | This field specifies the financial institution through which the transaction must pass to reach the account with institution | ||
| A | Line 1:Party Identifier Line 2:Identifier Code | /34X 11A | GS will support | |||
| C | Party Identifier | /34X | GS will support | |||
| D | Party Identifier Line 2:Name and Address | /34X 4*35X | /[Account Number] 1/[Name] 2/[Address Line(s)] 3/[ISO Country Code]/[Town Name]/[Postal Code] | If address is provided, at least Town Name and Country are mandatory in Tag 56D Suffix 3 | ||
| 57a | Account with Institution | O | /SC123456 1/GLOBAL BANK SOLUTIONS 2/45 LOMBARD STREET 3/GB/LONDON | This field specifies the financial institution which services the account for the beneficiary customer | ||
| A | Line 1:Party Identifier Line 2:Identifier Code | 11A OR /34X 11A | GS will support | |||
| C | Party Identifier | /34X | ||||
| D | Party Identifier Line 2:Name and Address | /34X 4*35X | /[Account Number] 1/[Name] 2/[Address Line(s)] 3/[ISO Country Code]/[Town Name]/[Postal Code] | If address is provided, at least Town Name and Country are mandatory in Tag 57D Suffix 3 | ||
| 59a | Beneficiary | M | /3000121637 1/MARK PHILIPS 2/HOOGSTRA AT 6, APT 6C 3/DE/BERLIN | This field identifies the beneficiary of the subsequent operation from the particular occurrence of sequence B | ||
| No Letter Option | Line 1:Account Line 2:Name and Address | /34X 4*33X | If address is provided, at least Town Name and Country are mandatory in Tag 59F Suffix 3 | |||
| A | Line 1:Account Line 2:Identifier Code | /34X 11A | ||||
| F | Account Line 2:Number/Name and Address | /34X 4*33X | /[Account Number] 1/[Name] 2/[Address Line(s)] 3/[ISO Country Code]/[Town Name]/[Postal Code] | If address is provided, at least Town Name and Country are mandatory in Tag 59F Suffix 3 | ||
| 70 | Remittance Information | 4*35X | O | /RFB/BET072 | This field specifies details of the individual transaction which are to be transmitted to the Beneficiary | |
| 77B | Regulatory Reporting | 3*35X | O | Free text to specify regulatory details | ||
| 33B | Currency/Original Ordered Amount | 3A15B | O | EUR12000,50 | ISO Currency code and Amount with comma as a decimal separator. Refers to the Instructed amount | |
| 71A | Details of Charges | 3A | M | BEN, SHA, OUR | Specifies party that will bear the charges OUR = DEBT, SHA = SHAR, BEN = CRED | |
| 25A | Charges Amount | /34X | O | GS to ignore | ||
| 36 | Exchange Rate | 12N | O | GS to ignore | ||
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