MT 256 Field Specifications

20. Field 58B: Beneficiary Institution's Account (for Settlement)

FORMAT

Option B

[/1!a][/34x] [35x]

(Party Identifier) (Location)

PRESENCE

Optional

DEFINITION

This field specifies the account number of the financial institution which is the ultimate recipient of the funds being (re)transferred (i.e. the Receiver of the MT 206).

USAGE RULES

Party Identifier is to be used to specify the account to be credited, where

• there are multiple direct account relationships in the currency of the transaction between the Sender and account with institution

• one of these accounts is to be used for reimbursement

• there is no bilaterally agreed account.