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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

  • MT 103 -

It is a customer credit transfer message for a single payment that instructs a fund transfer from the ordering customer to the beneficiary customer. The message is sent by or on behalf of the financial institution of the ordering customer to the financial institution of the beneficiary customer.

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.

RequirementFieldField Name

Sequence A General Information [Mandatory, non-repetitive]

Mandatory20Sender's Reference
Optional21RCustomer Specified Reference
Mandatory28DMessage Index/Total
Optional50aInstructing Party
Optional50HOrdering Customer
Optional52AAccount Servicing Institution
Optional51ASending Institution
Mandatory30Requested Execution Date
Optional25Authorization

End of Sequence A General Information

Sequence B Transaction Details [Mandatory, repetitive]

Mandatory21Transaction Reference
Optional21FF/X Deal Reference
Optional23EInstruction Code
Mandatory32BCurrency/Transaction Amount
Optional50aInstructing Party
Optional50HOrdering Customer
Optional52AAccount Servicing Institution
Optional56aIntermediary
Optional57aAccount with Institution
Mandatory59Beneficiary
Optional70Remittance Information
Optional77BRegulatory Reporting
Optional33BCurrency/Original ordered amount
Mandatory71ADetails of Charges
Optional25ACharges Amount
Optional36Exchange Rate

End of Sequence B Transaction Details'}

Tag Details

TagSub FieldField NameField LimitMandatory(M) / Optional(O)Sample UsageRemarks
20Sender's Reference16XM1023930File Message ID, Unique identification for a file. This cannot be repeated
21RCustomer Specified Reference16XOIf provided, needs to be a unique identifier
28DMessage Index/Total5N/5NM1/1Chain of messages specifying the sequence number for messages
50aInstructing PartyO
CIdentifier Code11AGS to ignore
LParty Identifier35XGS to ignore
50HOrdering CustomerO/105082926
Thomas Cook Inc.
A12361 PARK STREET
LONDON SE16 2JXUK
This field identifies the account owner whose account is to be debited with all transactions in sequence B
FLine 1:Party Identifier
Line 2:Name and Address
35X
4*35X
GS to ignore
GLine 1:Account
Line 2:Identifier Code
/34X
11A
GS to ignore
HLine 1:Account
Line 2:Name and Address
/34X
4*35X
Following details should be provided
52aAccount Servicing InstitutionOThis field specifies the account servicing institution - when other than the Receiver - which services the account of the account owner to be debited
ALine 1:Party Identifier
Line 2:Identifier Code
/34X
11A
Servicing Institution Identifier and BIC details to be used
CParty Identifier/34XGS to ignore
51AAccount Sending InstitutionOThis field identifies the Sender of the message
ALine 1:Party Identifier
Line 2:Identifier Code
/34X
11A
GS to ignore
30Requested Execution DateYYMMDDM161024Date 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
25Authorization35XOGS to ignore

Transaction Details

20Transaction reference16XMTRN0000123456789Must be unique for each transaction
21FF/X Deal Reference16XOTRN0000123456789This field specifies the foreign exchange contract reference between the ordering customer and the account servicing financial institution
23EInstruction Code4AOGS to ignore
32BCurrency/
Transaction Amount
3A15BMEUR20500,50Amount to be sent to the creditor in the currency of transfer
ISO Currency code and Amount with comma as a decimal separator
50aInstructing PartyOIdentifies the customer which is authorized by the account owner/account servicing institution to order the transactions in this particular occurrence of sequence B
CIdentifier Code11AGS to ignore
LParty Identifier35XGS to ignore
50HOrdering CustomerOThis field identifies the ordering customer which is the account owner ordering the transaction in the same occurrence of the sequence
FLine 1:Party Identifier
Line 2:Name and Address
35X
4*35X
/105082926
Thomas Cook Inc.
A12361 PARK STREET
LONDON SE16 2JXUK
GS to ignore
GLine 1:Account
Line 2:Identifier Code
/34X
11A
GS to ignore
HLine 1:Account
Line 2:Name and Address
/34X
4*35X
Following details should be provided
52aAccount Servicing InstitutionOThis field specifies the account servicing institution - when other than the Receiver - which services the account of the account owner to be debited
ALine 1:Party Identifier
Line 2:Identifier Code
/34X
11A
Servicing Institution Identifier and BIC details to be used
CParty Identifier/34XGS to ignore
56aIntermediaryOThis field specifies the financial institution through which the transaction must pass to reach the account with institution
ALine 1:Party Identifier
Line 2:Identifier Code
/34X
11A
GS will support
CParty Identifier/34XGS will support
DParty Identifier
Line 2:Name and Address
/34X
4*35X
GS will support
57aAccount with InstitutionOThis field specifies the financial institution which services the account for the beneficiary customer
ALine 1:Party Identifier
Line 2:Identifier Code
11A OR
/34X
11A
GS will support
CParty Identifier/34X
DParty Identifier
Line 2:Name and Address
/34X
4*35X
59aBeneficiaryMThis field identifies the beneficiary of the subsequent operation from the particular occurrence of sequence B
No Letter OptionLine 1:Account
Line 2:Name and Address
/34X
4*33X
GS to support
ALine 1:Account
Line 2:Identifier Code
/34X
11A
FAccount
Line 2:Number/Name and Address
/34X
4*33X
/3000121637
1/MARK
PHILIPS
2/HOOGSTRA
AT 6, APT 6C
3//DE/Berlin
GS to support
70Remittance Information4*35XO/RFB/BET072This field specifies details of the individual transaction which are to be transmitted to the Beneficiary
77BRegulatory Reporting3*35XOFree text to specify regulatory details
33BCurrency/Original Ordered Amount3A15BOEUR12000,50ISO Currency code and Amount with comma as a decimal separator. Refers to the Instructed amount
71ADetails of Charges3AMBEN, SHA, OURSpecifies party that will bear the charges OUR = DEBT, SHA = SHAR, BEN = CRED
25ACharges Amount/34XOGS to ignore
36Exchange Rate12NOGS to ignore

Sample: {4: :20: 1023930:28D:1/1 :50H:/105082926 Thomas Cook Inc. A12361 PARK STREET LONDON SE16 2JXUK: 30:090905 :21: TRN0000123456789:32B: GBP12500,00 :59:/ 3000121637 MARK PHILIPS HOOGSTRAAT 6, APT 6C, Berlin:71A: OUR-}

Layout of MT 103

Overview

The message blocks contain the following elements: Start of block indicator ( { ), Block identifier ( 4 ), Separator ( : ), Block Content and End of block indicator ( } ). The hierarchy and sequence of tags is illustrated below followed by the tag details.

RequirementFieldField Name
MandatoryMessage Header Record
Mandatory20Sender's Reference
Optional13CTime Indication
Mandatory23BBank Operation Code
Optional23EInstruction Code
Optional26TTransaction Type Code
Mandatory32AValue Date/Currency/ Interbank Settled Amount
Optional33BCurrency/Instructed Amount
Optional36Exchange Rate
Mandatory50aOrdering Customer
Optional51ASending Institution
Optional52aOrdering Institution
Optional53aSender's Correspondent
Optional54aReceiver's Correspondent
Optional55aThird Reimbursement Institution
Optional56aIntermediary Institution
Optional57aAccount with Institution
Mandatory59aBeneficiary Customer
Optional70Remittance Information
Mandatory71ADetails of Charges
Optional71FSender's Charges
Optional71GReceiver's Charges
Optional72Sender to Receiver Information
Optional77BRegulatory Reporting
OptionalMessage Trailer Record

Tag Details

TagSub FieldField NameField LimitMandatory(M) / Optional(O)Sample UsageRemarks
20Sender's Reference16XM1023930File Message ID, Unique identification for a file. This cannot be repeated
13CTime Indication/8A/4N1X4NO/CLSTIME/0915+0100This repetitive field specifies one or several time indication(s) related to the processing of the payment instruction(Code)(Time indication)(Sign)(Time offset)
23BBank Operation Code4AMCREDThis field provides the type of operation i.e., normal credit transfers are CRED
23EInstitution Code4AOCHGQ,STVAThe field specifies an instruction
26TTransaction Type Code3AOK90This field identifies the nature of, purpose of, and/or reason for the individual transaction
32AValue Date/Currency/Interbank Settled Amount6N3A15BM181120EUR40043252,25This field specifies the value date, the currency and the settlement amount. The settlement amount is the amount to be booked/reconciled at interbank level
33BCurrency/Instructed Amount3A15BOEUR40043252,25This field specifies the currency and amount of the instruction
50aOrdering CustomerM/63009200
Morgan Stanley
25 Cabot Square,
Canary Wharf,
London E14 4QA
This field specifies the customer ordering the transaction
ALine 1: Account
Line 2: Identifier Code
/34X
11A
:50A:/293456
-1254349-82
VISTUS31
FLine 1: Party Identifier
Line 2: Number/Name and Address
35X
4*35X
:50F:/12345678
1/SMITH JOHN
2/299, PARK AVENUE
3/US/NEW YORK,
NY 10017
KLine 1: Account
Line 2: Name and Address
/34X
4*35X
Customer account and other details captured
51ASending InstitutionOThis field identifies the Sender of the message
ALine 1: Account
Line 2: Identifier Code
/34X
11A
This is only valid in FileActGS to ignore
52aOrdering InstitutionO This field specifies the financial institution of the ordering customer, when different from the Sender, even if field 50a contains an IBAN
ALine 1: Party Identifier
Line 2: Identifier Code
/34X
11A
CITIGB2LXXXIn option A, Party Identifier may be used to indicate a national clearing system code.//FW or //SC
DLine 1: Party Identifier
Line 2: Name and Address
/34X
4*35X
In option D, Party Identifier may be used to indicate a national clearing system code
53aSender's CorrespondentO Where required, this field specifies the account or branch of the Sender or another financial institution through which the Sender will reimburse the Receiver
ALine 1: Party Identifier
Line 2: Identifier Code
/34X
11A
GSBLGB2LXXX
BLine 1: Party Identifier
Line 2: Location
/34X
35X
DLine 1: Party Identifier
Line 2: Name and Address
/34X
4*35X
54aReceiver's CorrespondentO This field specifies the branch of the Receiver or another financial institution at which the funds will be made available to the Receiver
ALine 1: Party Identifier
Line 2: Identifier Code
/34X
11A
KSBLGB2LXXX
BLine 1: Party Identifier
Line 2: Location
/34X
35X
DLine 1: Party Identifier
Line 2: Name and Address
/34X
4*35X
55aThird Reimbursement InstitutionO This field specifies the Receiver's branch, when the funds are made available to this branch through a financial institution other than that indicated in field 53a
ALine 1: Party Identifier
Line 2: Identifier Code
/34X
11A
ANBLGB2LXXX
BLine 1: Party Identifier
Line 2: Location
/34X
35X
DLine 1: Party Identifier
Line 2: Name and Address
/34X
4*35X
56aIntermediary InstitutionO This field specifies the financial institution through which the transaction must pass to reach the account with institution.
ALine 1: Party Identifier
Line 2: Identifier Code
/34X
11A
/105082926 Thomas Cook Inc.
A12361 PARK STREET
LONDON SE16 2JXUK
BParty Identifier/34X
DLine 1: Party Identifier
Line 2: Name and Address
/34X
4*35X
57aAccount with InstitutionO This field specifies the financial institution which services the account for the beneficiary customer. This is applicable even if field 59a contains an IBAN
ALine 1: Party Identifier
Line 2: Identifier Code
/34X
11A
Servicing Institution Identifier and BIC details to be used
B Line 1: Party Identifier
Line 2: Location
/34X
35X
CParty Identifier/34X
DLine 1: Party Identifier
Line 2: Name and Address
/34X
4*35X
59aBeneficiary CustomerM/GB24CITI20267463009200
Morgan Stanley
25 Cabot Square,
Canary Wharf
London E14 4QA
This field specifies the customer which will be paid.
Line 1: Account
Line 2: Name and Address
/34X
4*35X
A Line 1: Account
Line 2: Identifier Code
/34X
11A
F Line 1: Account
Line 2: Number/Name and Address
/34X
4*(1N/33X)
70Remittance Information4*35XO/RFB/BET072This 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.
71ADetails of Charges3AMBEN, SHA, OURSpecifies party that will bear the charges OUR = DEBT, SHA = SHAR, BEN = CRED.
71FSender's Charges3A15BOEUR18,00This repetitive field specifies the currency and amount of the transaction charges deducted by the Sender and by previous banks in the transaction chain.
71GReceiver's Charges3A15BOEUR15,50This field specifies the currency and amount of the transaction charges due to the Receiver.
72Sender to Receiver Information6*35XOCode words like/ACC, /INl, /INS and /REC can be accepted.This field specifies additional information for the Receiver or other party specified.
77BRegulatory Reporting3*35XOFree text to specify regulatory details.

Sample: {4: :20: 1023930: :23B:CRED :32A:181120EUR40043252,25 :33B:EUR40043252,25:50K /63009200 Morgan Stanley 25 Cabot Square,Canary Wharf, London E14 4QA:52A:CITIGB2LXXX:59A: /GB24CITI20267463009200 Morgan Stanley 25 Cabot Square, Canary Wharf London E14 4QA:70:Payment For 71A: OUR-}


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