What is Field 70 in a swift message? 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.
What is field 72b in Swift?
Field 72: Sender to Receiver Information is a field in MT 700 swift message type that specifies additional information for the Receiver. This is an optional field. Likewise, what is field 33b in Swift? Definition. This field specifies the currency and amount of the instruction.
What should the sender check with the receiver regarding field 70?
For clearing purposes, the Sender must check with the Receiver regarding length restrictions of field 70. The information specified in this field is intended only for the beneficiary customer, that is, this information only needs to be conveyed by the Receiver.
What is a swift mt101 message?
What is a SWIFT MT101 Message? The SWIFT MT101 message is a request for transfer, enabling the electronic transfer of funds from one account to another. Funds are transferred from ordering customers account to a receiving financial institution or account servicing financial institution.
What is the Swift character set that enables this transfer?
For us right now, the important thing to note is that the message format that enables this transfer is the SWIFT MT101 format. The following SWIFT character set is permitted in the SWIFT MT101 message:
What is Field 70 in wire transfer?
Field 70 : Purpose of Remittance is mentioned in the wire transfer message sent by the remitting bank.
What is f70 in MT103?
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.
What are the fields in a SWIFT message?
13.2. 1 MT202 (General Financial Institution Transfer)Field in SWIFTDescriptionField in Oracle FLEXCUBE53aSender's CorrespondentBIC Code , Address154aReceiver's CorrespondentReceiver's Correspondent 1 to 556aIntermediaryIntermediary 1 to 557aAccount With InstitutionAccount With Institution 1 to 57 more rows
What is Field 72 in a SWIFT message MT103?
:72::Sender to receiver information Use this field to specify additional information to one of the parties involved in the transaction. Each type of information must start on a new line with a code word, and each additional line of the same type of information must start with a double forward slash.
What is RFB in SWIFT?
HSBC BANK PLC (RFB) SWIFT code is correct HSBC BANK PLC (RFB) code format can be used to make a money transfer between banks.
What is Field 57 in a swift message?
What is Field 57a: Advise Through Bank? Field 57a: 'Advise Through' Bank is a field in MT 700 swift message type that identifies the bank, if different from the Receiver, through which the documentary credit is to be advised/confirmed to the beneficiary.
What is Field 50 in a SWIFT message?
Use of field 50a, Ordering Customer Only Field 50a is to be used for ordering customer information. Ordering customer information should not be included in Fields 20, 52a, 70 or 72. If the account number of the ordering customer is present, it must be stated in the account line, preceded by a slash.
What is Field 52 in a SWIFT message?
The ordering institution (Tag 52D) is provided in the MT103 SWIFT Message. This means the ordering customer is not customer of the Sender.
What is field 50a in MT103?
:50a::Ordering customer Use this field to identify the name and address of the customer (i.e. not a financial institution) that initiated the transaction.
What is Field 79 in a swift message?
DEFINITION. This field contains a narrative description of the original message, or single transaction within a multiple message, which will enable the Receiver to positively identify the message or transaction to be cancelled.
What is Field 59 in a swift message?
What is Field 59: Beneficiary? Field 59: Beneficiary is a field in MT 700 swift message type that is used to specify the party in favour of which the documentary credit is being issued. This is a mandatory field, which means that it must be stated in all of the letters of credit issued via MT 700 swift format.
What is Field 56 in a swift message?
As per SWIFT standards, the account number is to be in IBAN (International Bank Account Number) format or in BBAN format (for domestic payments)....MT103 fields.TagName56A, C or DIntermediary Institution (bank)57A, B, C or DAccount With Institution (beneficiary's bank)59 or 59ABeneficiary Customer 4x3520 more rows