MT 582 Field Specifications

11. Field 53a: Account For Payment

FORMAT

Option A	[/1!a][/34x] 4!a2!a2!c[3!c]	(Party Identifier) (BIC/BEI)
Option C	/34x	(Account)
Option D	[/1!a][/34x] 4*35x	(Party Identifier) (Name & Address)

PRESENCE

Conditional (C2)

DEFINITION

This field identifies the name and/or account which has been or will be credited or debited.

NETWORK VALIDATED RULES

The BIC/BEI must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).

BIC specifies the Bank Identifier Code. BEI specifies the Business Entity Identifier.

USAGE RULES

This field is used when there is a direct account relationship between the Sender and the Receiver which is to be used for the reimbursement of funds.