MT 101 Field Specifications

23. Field 71A: Details of Charges

FORMAT

Option A

3!a

(Code)

PRESENCE

Mandatory in mandatory sequence B

DEFINITION

This field specifies which party will bear the applicable charges for the subsequent transfer of funds.

CODES

One of the following codes must be used (Error code(s): T08):

BEN	Beneficiary	All transaction charges, including the charges of the financial institution servicing the ordering customer's account, for the subsequent credit transfer(s) are to be borne by the beneficiary customer.
OUR	Our customer charged	All transaction charges for the subsequent credit transfer are to be borne by the ordering customer.
SHA	Shared charges	All transaction charges other than the charges of the financial institution servicing the ordering customer account are borne by the beneficiary customer.

USAGE RULES

These charge codes cover potential charges associated with the sending of subsequent MTs 102, 103. Charges for sending the MT 101 should be handled outside of this message type.