MT 103 Usage Rules
Field 77T can only be used if both Sender and Receiver of the message have subscribed to the Extended Remittance Information MUG. Both the Sender and the Receiver must have agreed to the exchange of MT 103 messages using field 77T. If the field is used, the Sender must set the validation flag to REMIT in field 119 of the user header of the message. If field 77T is not present, the code of the validation flag must not be REMIT.
Field 72 may only be present when it is structured, ie, only contains coded information.
When sending the message via 
FileAct,
IFT,
institutions must use the 'payments related' content type 1020 (see FileAct
IFT
User Handbook) which requires authentication and acknowledgement that the message will be processed and submitted for execution. Institutions should bilaterally agree on the maximum size of the message.
Usage Rules for Amount Related Fields
There is a relationship between the amount related fields 33B, 36, 71G, 71F and 32A which may be logically expressed in the following formula:
The instructed amount in field 33B,
adjusted with the exchange rate in field 36,
plus the Receiver's charges in field 71G,
minus the Sender's charges in field(s) 71F,
equals the interbank settled amount in field 32A.
Presence of the fields mentioned above is subject to the conditional field rules C1, C2, C15 and C16. If a field is not present, that field must not be taken into account in the formula. If field 71F is present more than once, all occurrences of that field must be taken into account in the formula.
Examples: Transaction A
Pay the equivalent of EUR 1000,00 in GBP to a beneficiary in the United Kingdom
Exchange rate is 1 EUR for 0,61999 GBP
Transaction charges on the Sender's side are EUR 5,00 (=GBP 3,1)
Transaction charges on the Receiver's side are GBP 4 (=EUR 6,45)
Example A1: Charging option is OUR
Amount debited from the ordering customer's account:
| Instructed Amount |
EUR |
1000,00 |
| + Sender's charges |
EUR |
5,00 |
| + Receiver's charges |
EUR |
6,45 |
| = Debit Amount |
EUR |
1011,45 |
MT 103 extract:
| Field Tag |
Content |
|---|
| 33B |
EUR |
1000,00 |
| 71A |
|
OUR |
| 71G |
GBP |
4,00 |
| 36 |
|
0,61999 |
| 32A |
GBP |
623,99 |
The subsequent MT 950 shows one debit entry for GBP 623,99, ie, field 32A.
Amount credited to the beneficiary:
| Interbank settlement amount |
GBP |
623,99 |
| - Receiver's charges |
GBP |
4,00 |
| = Credit amount |
GBP |
619,99 |
Example A2: Charging option is SHA
Amount debited from the ordering customer's account:
| Instructed amount |
EUR |
1000,00 |
| + Sender's charges |
EUR |
5,00 |
| = Debit amount |
EUR |
1005,00 |
MT 103 extract:
| Field Tag |
Content |
|---|
| 33B |
EUR |
1000,00 |
| 71A |
|
SHA |
| 36 |
|
0,61999 |
| 32A |
GBP |
619,99 |
The subsequent MT 950 shows one debit entry for GBP 619,99, ie, field 32A.
Amount credited to the beneficiary:
| Interbank settlement amount |
GBP |
619,99 |
| - Receiver's charges |
GBP |
4,00 |
| = Credit amount |
GBP |
615,99 |
Example A3: Charging option is BEN
Amount debited from the ordering customer's account:
| Instructed amount = Debit amount |
EUR |
1000,00 |
MT 103 extract:
| Field Tag |
Content |
|---|
| 33B |
EUR |
1000,00 |
| 71A |
|
BEN |
| 71F |
GBP |
3,1 |
| 36 |
|
0,61999 |
| 32A |
GBP |
616,89 |
The subsequent MT 950 shows one debit entry for GBP 616,89, ie, field 32A.
Amount credited to the beneficiary:
| Equivalent of Instructed amount |
GBP |
619,99 |
| - Sender's charges |
GBP |
3,1 |
| - Receiver's charges |
GBP |
4,00 |
| = Credit amount |
GBP |
612,89 |
Note: The beneficiary is also advised of the Sender's charges of GBP 3,1
Examples: Transaction B
Pay GBP 1000,00 to a beneficiary in the United Kingdom
Exchange rate is 1 EUR for 0,61999 GBP
Transaction charges on the Sender's side are EUR 5,00 (=GBP 3,1)
Transaction charges on the Receiver's side are GBP 4,00 (=EUR 6,45)
The ordering customer has an account in euro
Sender and Receiver's BIC are within the EU-country list
Example B1: Charging option is OUR
Amount debited from the ordering customer's account:
| |
Debit on EUR-account |
| Equivalent of Instructed amount |
EUR |
1612,93 |
| + Sender's charges |
EUR |
5,00 |
| + Receiver's charges |
EUR |
6,45 |
| = Debit amount |
EUR |
1624,38 |
MT 103 extract
| Field Tag |
Content |
|---|
| 33B |
GBP |
1000,00 |
| 71A |
|
OUR |
| 71G |
GBP |
4,00 |
| 32A |
GBP |
1004,00 |
Note: field 36 does not have to be used since currency in fields 32A and 33B is the same
The subsequent MT 950 shows one debit entry for GBP 1004, ie, field 32A.
Amount credited to the beneficiary:
| Instructed amount = Credit amount |
GBP |
1000,00 |
Example B2: Charging option is SHA
Amount debited from the ordering customer's account:
| |
Debit on EUR-account |
| Equivalent of Instructed amount |
EUR |
1612,93 |
| + Sender's charges |
EUR |
5,00 |
| = Debit amount |
EUR |
1617,93 |
MT 103 extract:
| Field Tag |
Content |
|---|
| 33B |
GBP |
1000,00 |
| 71A |
|
SHA |
| 32A |
GBP |
1000,00 |
The subsequent MT 950 shows one debit entry for GBP 1000, ie, field 32A.
Amount credited to the beneficiary:
| Amount in 32A |
GBP |
1000,00 |
| - Receiver's charges |
GBP |
4,00 |
| = Credit amount |
GBP |
996,00 |
| Note: |
field 36 does not have to be used since currency in fields 32A and 33B is the same |
Example B3: Charging option is BEN
Amount debited from the ordering customer's account:
| |
Debit on EUR-account |
Equivalent of Instructed amount
= Debit amount |
EUR |
1612,93 |
MT 103 extract:
| Field Tag |
Content |
|---|
| 33B |
GBP |
1000,00 |
| 71A |
|
BEN |
| 71F |
GBP |
3,10 |
| 32A |
GBP |
996,90 |
The subsequent MT 950 shows one debit entry for GBP 996,9 ie, field 32A.
Amount credited to the beneficiary:
| Instructed amount |
GBP |
1000,00 |
| - Sender's charges |
GBP |
3,10 |
| - Receiver's charges |
GBP |
4,00 |
| = Credit amount |
GBP |
992,90 |
Note: The beneficiary is also advised of the Sender's charges of GBP 3,1
