MT 107 Field Specifications

9. Field 26T: Transaction Type Code

FORMAT

Option T

3!c

(Type)

PRESENCE

Conditional (C2)

DEFINITION

This field identifies the nature of, purpose of, and/or reason for all transactions in the message, eg, invoices, subscriptions, installment payments.

USAGE RULES

The information given is intended both for regulatory and statutory requirements and to provide information to the debtor on the nature of the transaction.

Codes must be agreed upon bilaterally.