What is the difference between MT101 and MT103
|SWIFT, BIC, IBAN and MT|
Worldwide Interbank Financial Telecommunication
The Society for Worldwide Interbank Financial Telecommunication, abbreviated S.W.I.F.T. is an international cooperative of financial institutions, founded in 1973, which operates a telecommunications network (the SWIFT network) for the exchange of messages between its members.
SWIFT forwards transactions between approx. 10,500 banks, brokerage houses, stock exchanges and other financial institutions in approx. 210 countries via SWIFT messages and thus handles the secure messaging and payment transactions of the affiliated companies and institutions.
In 2013, around 20 million messages were sent every day. The daily volume of money transferred was around 7.5 trillion euros in 2013.
Legally secured payment transactions across national borders are now practically only possible with SWIFT
The headquarters are in La Hulpe, Belgium. There are operating centers (OPC) in Zoeterwoude, the Netherlands, in Culpeper (Virginia), USA and in Diessenhofen, Switzerland.
Messages in various formats are exchanged via SWIFT. This can not only include transfer orders, there is also communication between the banks when it comes to international business.
The messages are made available to the other institute in about 45 seconds.
The SWIFT data scandal
The SWIFT hit the headlines when it became known that since the terrorist attacks in September 2001, the data of around 20 million transactions per year have been spied on by the CIA, including from European customers.
In retrospect, this procedure was deemed necessary by the Belgian Data Protection Commission. In July 2009, this procedure was legalized by a resolution of the European foreign ministers as part of the measures to be taken against acts of terrorism.
In order to avoid the need to transfer data from European customers directly to the CIA in the future, a European control authority is to be created. Until then, an EU official will be sent to the US Treasury Department to monitor the data to be evaluated.
SWIFTNet FIN (MT messages)
SWIFTNet MX (new MX messages)
SWIFTNet FileAct (file transfer via secure IP network from SWIFT)
SWIFTNet Browse (HTTP (S) via secure IP network from SWIFT)
General structure of SWIFT messages
The SWIFT-FIN messages only contain characters in a restricted ASCII character set. They are divided into 5 blocks, each enclosed in curly brackets:
1. Basic header block
2. Application header block
3. User header block
4. Content block
5. Trailer block
Bank identifier code
The Bic-Code has the function of an international bank code.
However, it does not replace the domestic bank code or other guide numbers in the respective countries.
In addition to the IBAN, the BIC code is important for cross-border transfers.
Together with the IBAN, transfers from or to the countries of the European Union are made possible at the price of a domestic transfer.
The BIC code is used to uniquely identify the bank.
This consists of an 8 to 11-digit combination of letters and numbers:
1st - 4th position: Meaning: institute
5th - 6th digit: Meaning: Country
7th - 8th position: Meaning: place
9th - 11th digit: Meaning: branch / branch
A number "1" in the 8th position shows that this is not a "live participant", i.e. it is not connected to the SWIFT system itself.
The number "0" in the 8th position indicates a test identifier
international Bank account number
The IBAN is an international, standardized notation for bank account numbers.
The IBAN is mainly used for payment transactions within the European Union.
This applies both to the data carrier exchange procedure and to payment transactions with forms (payment transaction forms).
The IBAN is made up as follows:
2-digit country code according to ISO 3166-1, consisting of letters.
2-digit checksum with check digits according to ISO 7064, consisting of digits.
Max. 30-digit account identification, consisting of letters and / or numbers.
The IBAN can have a maximum of 34 digits, but is shorter in most countries.
Shorter account numbers are padded to the required number of digits after the bank code with leading zeros. As a simple manual fill-in aid in the German-speaking countries, this results in:
After two digits of the country code and two digits of the new checksum, the bank code (D, A) / BC number (CH) is entered from the 5th digit, then the account number, including any sub-account number, right-justified
from the last digit? Any vacancies in between are padded with zeros.
This is only simplified, but the banks are obliged to provide the account holder with the correct IBAN
In the SWIFT network, the MT messages always have a three-digit number as a type designation.
The following formats are available for SWIFT messages:
MT0xx system message
MT1xx customer payments
MT2xx transfers between credit institutions
MT3xx foreign exchange and money trading
MT4xx collections and letters of credit
MT6xx precious metals and syndicated deals
MT7xx documentary letters of credit and guarantees
MT8xx travelers checks
MT9xx cash management and customer information
Some of the most famous:
MT101: transfer order
MT103: Transfer message between banks
MT104: Valid for direct debits
MT202: Message for interbank payments
MT700: Letter of credit issue
MT707: Change of Letter of Credit
MT760: Bank guarantee - capital block in favor of another party
MT940: Account Statements
MT941: account balance
MT942: account turnover
The SWIFT message MT101 is used to issue the payment order to be debited from a customer account with another bank.
In general, it is used in those cases in which the customer has no possibility of communicating directly with the bank holding the account or in those cases in which the parent company has the account balances of a subsidiary,
whose accounts are held with a geographically / functionally inaccessible bank.
The MT103 is the standard data record in the Swift network for customer payments. The MT202, on the other hand, is reserved for bank-to-bank payments.
The MT103 replaced the outdated MT100. Since November 18, 2000, all Swift participants must be able to accept messages of the type MT103, since November 15, 2003 no more messages of the type MT100 can be sent.
The MT103 contains all the data needed to make payments to each recipient within the SWIFT network.
There are two message formats derived from the MT103 message format, for which additional conditions apply.
This message is mainly used for transfers within the EU. The indication of IBAN and BIC is mandatory in such messages.
Any valid MT103 + message is also a valid MT103 message.
With this data set, the banks can make bilateral transfers to one another. This money transfer is only used among the banks themselves. This form of money transfer is therefore ruled out for end customers.
This data set is used to block capital at a bank in favor of another party. With this message, the blocking bank informs the beneficiary's bank accordingly.
The bank sends them according to the instructions of the account holder in favor of the other party with whom a transaction is carried out. The values (money, gold, CDs, MTNs) are blocked by the bank and held as collateral for the MT760 sent.
An MT760 can be set up in different ways and is agreed to suit the contracting parties.
This is a pre-advice that announces a transaction to the receiving bank with z. B. MT760, by means of which a bank guarantee is issued in favor of the recipient for a previously contractually agreed period.
This can also be used to query account balances without making a transfer. There must be a minimum amount on the account in order to carry out such a query.
This is the data record for the electronic transmission of account statement data.
In various online banking programs, MT940 is used as an interface to other programs (e.g. for accounting) with which the bank statement data is further processed.
All MT messages (English)
Category 1 messages
The table below lists the Category 1 message types, Customer Payments and Checks, with the type designation MT 1xx.
Table 1 Customer Payments and Checks
MT 101 - Request for Transfer
MT 102 - Multiple Customer Credit Transfer
MT 102+ (STP) - Multiple Customer Credit Transfer (STP)
MT 103 - Single Customer Credit Transfer
MT 103+ (REMIT) - Single Customer Credit Transfer (REMIT)
MT 103+ (STP) - Single Customer Credit Transfer (STP)
MT 104 - Direct Debit and Request for Debit Transfer Message (STP)
MT 105 - EDIFACT Envelope
MT 106 - EDIFACT Envelope
MT 107 - General Direct Debit Message
MT 110 - Advice of Check (s)
MT 111 - Request for Stop Payment of a Check
MT 112 - Status of a Request for Stop Payment of a Check
MT 121 - Multiple Interbank Funds Transfer (EDIFACT FINPAY Message)
MT 190 - Advice of Charges, Interest and Other Adjustments
MT 191 - Request for Cancellation
MT 195 - Queries
MT 196 - Answers
MT 198 - Proprietary Message
MT 199 - Free Format Message
Category 2 messages
The table below lists the Category 2 message types, Financial Institution Transfers, with the type designation MT 2xx.
Table 2 Financial Institution Transfers
MT 200 - Financial Institution Transfer for its Own Account
MT 201 - Multiple Financial Institution Transfer for its Own Account
MT 202 - General Financial Institution Transfer
MT 203 - Multiple General Financial Institution Transfer
MT 204 - Financial Markets Direct Debit Message
MT 205 - Financial Institution Transfer Execution
MT 206 - Check Truncation Message
MT 207 - Request for Financial Institution Transfer
MT 210 - Notice to Receive
MT 256 - Advice of Non-Payment of Checks
MT 290 - Advice of Charges, Interest and Other Adjustments
MT 291 - Request for Payment of Charges, Interest and Other Expenses
MT 292 - Request for Cancellation
MT 295 - Queries
MT 296 - Answers
MT 298 - Proprietary Message
MT 299 - Free Format Message
Category 3 messages
The table below lists the Category 3 message types, Treasury Markets, Foreign Exchange, Money Markets, and Derivatives, with the type designation MT 3xx.
Table 3 Treasury Markets, Foreign Exchange, Money Markets, and Derivatives
MT 300 - Foreign Exchange Confirmation
MT 303 - Forex / Currency Option Allocation Instruction
MT 304 - Advice / Instruction of a Third Party Deal
MT 305 - Foreign Currency Option Confirmation
MT 306 - Foreign Currency Option Confirmation
MT 307 - Advice / Instruction of a Third Party FX Deal
MT 308 - Instruction for Gross / Net Settlement of Third Party FX Deals
MT 320 - Fixed Loan / Deposit Confirmation
MT 321 - Instruction to Settle a Third Party Loan / Deposit
MT 330 - Call / Notice Loan / Deposit Confirmation
MT 340 - Forward Rate Agreement Confirmation
MT 341 - Forward Rate Agreement Settlement Confirmation
MT 350 - Advice of Loan / Deposit Interest Payment
MT 360 - Single Currency Interest Rate Derivative Confirmation
MT 361 - Cross Currency Interest Rate Swap Confirmation
MT 362 - Interest Rate Reset / Advice of Payment
MT 364 - Single Currency Interest Rate Derivative Termination / Recouponing Confirmation
MT 365 - Single Currency Interest Rate Swap Termination / Recouponing Confirmation
MT 380 - Foreign Exchange Order
MT 381 - Foreign Exchange Order Confirmation
MT 390 - Advice of Charges, Interest and Other Adjustments
MT 391 - Request for Payment of Charges, Interest and Other Expenses
MT 392 - Request for Cancellation
MT 395 - Queries
MT 396 - Answers
MT 398 - Proprietary Message
MT 399 - Free Format Message
Category 4 messages
The table below lists the Category 4 message types, Collections and Cash Letters, with the type designation MT 4xx.
Table 4 Collections and Cash Letters
MT 400 - Advice of Payment
MT 405 - Clean Collection
MT 410 - Acknowledgment
MT 412 - Advice of Acceptance
MT 416 - Advice of Non-Payment / Non-Acceptance
MT 420 - tracer
MT 422 - Advice of Fate and Request for Instructions
MT 430 - Amendment of Instructions
MT 450 - Cash Letter Credit Advice
MT 455 - Cash Letter Credit Adjustment Advice
MT 456 - Advice of Dishonor
MT 490 - Advice of Charges, Interest and Other Adjustments
MT 491 - Request for Payment of Charges, Interest and Other Expenses
MT 492 - Request for Cancellation
MT 495 - Queries
MT 496 - Answers
MT 498 - Proprietary Message
MT 499 - Free Format Message
Category 5 messages
The table below lists the Category 5 message types, Securities Markets, with the type designation MT 5xx.
Table 5 Securities Markets
MT 500 - Instruction to Register
MT 501 - Confirmation of Registration or Modification
MT 502 - Order to Buy or Sell
MT 502 (FUNDS) - Order to Buy or Sell (FUNDS)
MT 503 - Collateral Claim
MT 504 - Collateral Proposal
MT 505 - Collateral Substitution
MT 506 - Collateral and Exposure Statement
MT 507 - Collateral Status and Processing Advice
MT 508 - Intra-Position Advice
MT 509 - Trade Status Message
MT 509 (FUNDS) - Trade Status Message (FUNDS)
MT 510 - Registration Status and Processing Advice
MT 513 - Client Advice of Execution
MT 514 - Trade Allocation Instruction
MT 515 - Client Confirmation of Purchase or Sale
MT 515 (FUNDS - Client Confirmation of Purchase or Sale (FUNDS)
MT 516 - Securities Loan Confirmation
MT 517 - Trade Confirmation Affirmation
MT 518 - Market-Side Securities Trade Confirmation
MT 519 - Modification of Client Details
MT 524 - Intra-Position Instruction
MT 526 - General Securities Lending / Borrowing Message
MT 527 - Triparty Collateral Instruction
MT 528 - ETC Client-Side Settlement Instruction
MT 529 - ETC Market-Side Settlement Instruction
MT 530 - Transaction Processing Command
MT 535 - Statement of Holdings
MT 535 (FUNDS) - Statement of Holdings (FUNDS)
MT 536 - Statement of Transactions
MT 537 - Statement of Pending Transactions
MT 538 - Statement of Intra-Position Advice
MT 540 - Receive Free
MT 541 - Receive Against Payment
MT 542 - Deliver Free
MT 543 - Deliver Against Payment
MT 544 - Receive Free Confirmation
MT 545 - Receive Against Payment Confirmation
MT 546 - Deliver Free Confirmation
MT 547 - Deliver Against Payment Confirmation
MT 548 - Settlement Status and Processing Advice
MT 549 - Request for Statement / Status Advice
MT 558 - Triparty Collateral Status and Processing Advice
MT 559 - Paying Agent? S Claim
MT 564 - Corporate Action Notification
MT 565 - Corporate Action Instruction
MT 566 - Corporate Action Confirmation
MT 567 - Corporate Action Status and Processing Advice
MT 568 - Corporate Action Narrative
MT 569 - Triparty Collateral and Exposure Statement
MT 574 (IRSLST) - IRS 1441 NRA (Beneficial Owners List)
MT 574 (W8BENO) - IRS 1441 NRA (Beneficial Owner Withholding Statement)
MT 575 - Report of Combined Activity
MT 576 - Statement of Open Orders
MT 577 - Statement of Numbers
MT 578 - Statement of Allegement
MT 579 - Certificate Numbers
MT 581 - Collateral Adjustment Message
MT 582 - Reimbursement Claim or Advice
MT 584 - Statement of ETC Pending Trades
MT 586 - Statement of Settlement Allegements
MT 587 - Depositary Receipt Instruction
MT 588 - Depositary Receipt Confirmation
MT 589 - Depositary Receipt Status and Processing Advice
MT 590 - Advice of Charges, Interest and Other Adjustments
MT 591 - Request for Payment of Charges, Interest and Other Expenses
MT 592 - Request for Cancellation
MT 595 - Queries
MT 596 - Answers
MT 598 - Proprietary Message
MT 599 - Free Format Message
Category 6 messages
The table below lists the Category 6 message types, Treasury Markets, Precious Metals, with the type designation MT 6xx.
Table 6 Treasury Markets, Precious Metals
MT 600 - Precious Metal Trade Confirmation
MT 601 - Precious Metal Option Confirmation
MT 604 - Precious Metal Transfer / Delivery Order
MT 605 - Precious Metal Notice to Receive
MT 606 - Precious Metal Debit Advice
MT 607 - Precious Metal Credit Advice
MT 608 - Statement of a Metal Account
MT 609 - Statement of Metal Contracts
MT 620 - Metal Fixed Loan / Deposit Confirmation
MT 643 - Notice of Drawdown / Renewal
MT 644 - Advice of Rate and Amount Fixing
MT 645 - Notice of Fee Due
MT 646 - Payment of Principal and / or Interest
MT 649 - General Syndicated Facility Message
MT 690 - Advice of Charges, Interest and Other Adjustments
MT 691 - Request for Payment of Charges, Interest and Other Expenses
MT 692 - Request for Cancellation
MT 695 - Queries
MT 696 - Answers
MT 698 - Proprietary Message
MT 699 - Free Format Message
Category 7 messages
The table below lists the Category 7 message types, Treasury Markets, Syndication, with the type designation MT 7xx.
Table 7 Treasury Markets, Syndication
MT 700 - Issue of a Documentary Credit
MT 701 - Issue of a Documentary Credit
MT 705 - Pre-Advice of a Documentary Credit
MT 707 - Amendment to a Documentary Credit
MT 710 - Advice of a Third Bank? S Documentary Credit
MT 711 - Advice of a Third Bank? S Documentary Credit
MT 720 - Transfer of a Documentary Credit
MT 721 - Transfer of a Documentary Credit
MT 730 - Acknowledgment
MT 732 - Advice of Discharge
MT 734 - Advice of Refusal
MT 740 - Authorization to Reimburse
MT 742 - Reimbursement Claim
MT 747 - Amendment to an Authorization to Reimburse
MT 750 - Advice of Discrepancy
MT 752 - Authorization to Pay, Accept or Negotiate
MT 754 - Advice of Payment / Acceptance / Negotiation
MT 756 - Advice of Reimbursement or Payment
MT 760 - Guarantee
MT 767 - Guarantee Amendment
MT 768 - Acknowledgment of a Guarantee Message
MT 769 - Advice of Reduction or Release
MT 790 - Advice of Charges, Interest and Other Adjustments
MT 791 - Request for Payment of Charges, Interest and Other Expenses
MT 792 - Request for Cancellation
MT 795 - Queries
MT 796 - Answers
MT 798 - Proprietary Message
MT 799 - Free Format Message
Category 8 messages
The table below lists the Category 8 message types, Travelers Checks, with the type designation MT 8xx.
Table 8 Travelers Checks
MT 800 - T / C Sales and Settlement Advice [Single]
MT 801 - T / C Multiple Sales Advice
MT 802 - T / C Settlement Advice
MT 810 - T / C Refund Request
MT 812 - T / C Refund Authorization
MT 813 - T / C Refund Confirmation
MT 820 - Request for T / C Stock
MT 821 - T / C Inventory Addition
MT 822 - Trust Receipt Acknowledgment
MT 823 - T / C Inventory Transfer
MT 824 - T / C Inventory Destruction / Cancellation Notice
MT 890 - Advice of Charges, Interest and Other Adjustments
MT 891 - Request for Payment of Charges, Interest and Other Expenses
MT 892 - Request for Cancellation
MT 895 - Queries
MT 896 - Answers
MT 898 - Proprietary Message
MT 899 - Free Format Message
Category 9 messages
The table below lists the Category 9 message types, Cash Management and Customer Status, with the type designation MT 9xx.
Table 9 Cash Management and Customer Status
MT 900 - Confirmation of Debit
MT 910 - Confirmation of Credit
MT 920 - Request Message
MT 935 - Rate Change Advice
MT 940 - Customer Statement Message
MT 941 - Balance Report
MT 942 - Interim Transaction Report
MT 950 - Statement Message
MT 970 - Netting Statement
MT 971 - Netting Balance Report
MT 972 - Netting Interim Statement
MT 973 - Netting Request Message
MT 985 - Status Inquiry
MT 986 - Status Report
MT 990 - Advice of Charges, Interest and Other Adjustments
MT 991 - Request for Payment of Charges, Interest and Other Expenses
MT 992 - Request for Cancellation
MT 995 - Queries
MT 996 - Answers
MT 998 - Proprietary Message
MT 999 - Free Format Message
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