The following examples illustrate the use of field 50H appearing in either sequence A or sequence B.
Background
A multinational Swiss pharmaceutical company, MAG-NUM, must frequently make £ Sterling payments to different third party companies located in the U.K. MAG-NUM maintains several £ Sterling accounts with its primary U.K. correspondent.
This £ Sterling account holder wishes to make a payment to a third party U.K. supplier. The corresponding MT 101 is:
 Explanation |
Format |
|---|---|
| Sender |
|
| Message type |
|
| Receiver |
|
| Message text |
|
| Sender's reference |
|
| Customer specified reference |
|
| Message Index/Total |
|
| Ordering customer |
|
| Requested execution date |
|
| Transaction reference |
|
| Currency/transaction amount |
|
| Beneficiary |
|
| Details of charges |
|
| End of message text/trailer |
|
This £ Sterling account holder wishes to pay three different third party U.K. suppliers on the same date.
MAG-NUM needs to use the same £ Sterling account for all three payments. The corresponding MT 101 is:
| Explanation |
Format |
|---|---|
| Sender |
|
| Message type |
|
| Receiver |
|
| Message text: General information |
|
| Sender's reference |
|
| Customer specified reference |
|
| Message Index/Total |
|
| Ordering customer |
|
| Requested execution date |
|
| Transaction details 1 |
|
| Transaction reference |
|
| Currency/transaction amount |
|
| Beneficiary |
|
| Details of charges |
|
| Transaction details 2 |
|
| Transaction reference |
|
| Currency/transaction amount |
|
| Beneficiary |
|
| Details of charges |
|
| Transaction details 3 |
|
| Transaction reference |
|
| Currency/transaction amount |
|
| Beneficiary |
|
| Details of charges |
|
| End of message text/trailer |
|
MAG-NUM wants to make payments out of three different £ Sterling accounts it maintains with its primary U.K. correspondent. The corresponding MT 101 is:
| Explanation |
Format |
|---|---|
| Sender |
|
| Message type |
|
| Receiver |
|
| Message text: General information |
|
| Sender's reference |
|
| Customer specified reference |
|
| Message Index/Total |
|
| Requested execution date |
|
| Transaction details 1 |
|
| Transaction reference |
|
| Currency/transaction amount |
|
| Ordering customer |
|
| Beneficiary |
|
| Details of charges |
|
| Transaction details 2 |
|
| Transaction reference |
|
| Currency/transaction amount |
|
| Ordering customer |
|
| Beneficiary |
|
| Details of charges |
|
| Transaction details 3 |
|
| Transaction reference |
|
| Currency/transaction amount |
|
| Ordering customer |
|
| Beneficiary |
|
| Details of charges |
|
| End of message text/trailer |
|
Company AXY in country XY wants to pay an invoice from its subsidiary TYZ's account in country YZ. Company AXY is authorised to make payments from subsidiary TYZ's account.
Company AXY instructs its bank (BNKAXYLL) in country XY to send an MT 101 Request For Transfer to the bank servicing the account for the subsidiary TYZ (BNKBYZLL) in country YZ, to request a payment to be made from the account of subsidiary TYZ in favour of beneficiary BFD.
As the name of the subsidiary would be meaningless for the beneficiary BFD, the name of the parent company AXY must appear in the Remittance Information field of the MT 101 sent by BNKAXYLL.
Walt Disney has concentrated its treasury cash management functions into one office, Walt Disney Company in Los Angeles, California. All wire transfer transactions ordered by Walt Disney's subsidiaries - such as Disney Stores, Disney Productions - are sent to the bank by Walt Disney Company.
At its various banks, Walt Disney Company holds master concentration accounts which it uses (debits) to cover any wire transfer transactions made through these banks. Payments which Walt Disney orders may be initiated for itself, or on behalf of one of its subsidiaries.
Scenario:
| Account number at Bank of America (to debit): |
12345-67891 |
| Account owner: |
Walt Disney Company |
| Subsidiaries: |
Disney Stores, Disney Productions |
| Ordering parties: |
Walt Disney Company, Disney Stores, Disney Productions |
Payments:
On behalf of Disney Stores, for 118,982.05 USD to Wung Lu Manufacturing at Hongkong and Shanghai Banking Corporation (account number 60648929889) in Beijing, CN.
On behalf of Disney Productions, for 50,000 USD, to Tristan Recording Studios at Midland Bank (account 0010499) in London, GB.
On behalf of Walt Disney Company, for 377,250 USD, to River Paper Company at Wells Fargo Bank (account number 26351-38947) in San Francisco, CA.
On behalf of Walt Disney Company, for 132,546.93 USD, to Pacific Telephone at Bank of America (account 12334-98765) in San Francisco, CA.
Walt Disney requests its transfer via First National Bank of Chicago (FNBCUS44), which sends the MT 101 Request For Transfer to Bank of America, San Francisco (BOFAUS6S).
Payment Messages
| Explanation |
Format |
|---|---|
| Sender |
|
| Message type |
|
| Receiver |
|
| Message text: General information |
|
| Sender's reference |
|
| Message Index/Total |
|
| Ordering customer |
|
| Requested execution date |
|
| Transaction details 1 |
|
| Transaction reference |
|
| Currency/transaction amount |
|
| Instructing party |
|
| Account with institution |
|
| Beneficiary |
|
| Details of charges |
|
| Transaction details 2 |
|
| Transaction reference |
|
| Currency/transaction amount |
|
| Instructing party |
|
| Account with institution |
|
| Beneficiary |
|
| Details of charges |
|
| Transaction details 3 |
|
| Transaction reference |
|
| Currency/transaction amount |
|
| Instructing party |
|
| Account with institution |
|
| Beneficiary |
|
| Details of charges |
|
| Transaction details 4 |
|
| Transaction reference |
|
| Currency/transaction amount |
|
| Instructing party |
|
| Beneficiary |
|
| Details of charges |
|
| End of message test/trailer |
|
The following payments are the corresponding MTs 103 that Bank of America sends for each applicable payment specified in the above MT 101:
(1)
| Explanation |
Format |
|---|---|
| Sender |
|
| Message type |
|
| Receiver |
|
| Message text |
|
| Sender's reference |
|
| Bank Operation Code |
|
| Value date, currency, amount |
|
| Ordering customer |
|
| Beneficiary |
|
| Details of charges |
|
| End of message text/trailer |
|
(2)
| Explanation |
Format |
|---|---|
| Sender |
|
| Message type |
|
| Receiver |
|
| Message text |
|
| Sender's reference |
|
| Bank Operation Code |
|
| Value date, currency, amount |
|
| Ordering customer |
|
| Beneficiary |
|
| Details of charges |
|
| End of message text/trailer |
|
(3)
Although this payment would probably be sent via Fedwire, the MT 103 is shown for illustration purposes.
| Explanation |
Format |
|---|---|
| Sender |
|
| Message type |
|
| Receiver |
|
| Message text |
|
| Sender's reference |
|
| Bank Operation Code |
|
| Value date, currency, amount |
|
| Ordering customer |
|
| Beneficiary |
|
| Details of charges |
|
| End of message text/trailer |
|
(4)
Since this transaction results in a book transfer on Bank of America's books, no corresponding MT 103 is generated. The beneficiary, Pacific Telephone, is advised of this payment via a balance reporting service and printed statement.
Finpetrol, a corporate customer located in Helsinki, Finland sends a multiple MT 101 Request for Transfer payment message through its sending financial institution (UXXXFIHH) to the receiving financial institution (CHXXUS33) with which it also maintains an account. Two transactions contained in this multiple payment message request the Receiver to debit the ordering customer account, and effect payment to the associated beneficiary customers. The third transaction requests the Receiver to repatriate funds held in an account (account number 9102099999) at the branch of the Receiver (CHXXUS33BBB), for further credit to Finpetrol's account held at the Receiver (account number 9020123100).
Beneficiary Tony Baloney maintains an account with the Receiver (CHXXUS33), while beneficiary Softease PC maintains an account with a financial institution other than the Receiver, namely the account with institution (CHYYUS33). A software vendor invoice payment to Softease PC and a pension payment to Tony Baloney, in euro (EUR), are contained within this multiple payment message.
Finpetrol supplements its existing agreements with the three financial institutions with which it maintains an account, that is the sending financial institution (UXXXFIHH), the receiving financial institution (CHXXUS33), and the account servicing financial institution (CHXXUS33BBB). The supplement to the existing agreements establishes the basis for an agreement to exchange MT 101 messages.
MT 101 Request for Transfer message
The details agreed upon by the MT 101 Request for Transfer parties, which are highlighted below for the purpose of this message, are as follows:
transaction charges have been agreed upon, specified and are not included in the transaction amount
the exchange rate to be applied to the transaction is known in advance by the ordering customer
FINPETROL wishes to have its portion of the associated transaction charges posted to a special charges account number: 9101000123
In the interest of simplicity, only 3 transactions have been included in the following MT 101 message.
| Explanation |
Format |
|---|---|
| Sending financial institution |
|
| Message type |
|
| Receiving financial institution |
|
| Message text: General information |
|
| Sender's reference |
|
| Message Index/Total |
|
| Requested execution date |
|
| Transaction details 1 |
|
| Transaction reference |
|
| F/X deal reference |
|
| Currency/transaction amount |
|
| Ordering customer |
|
| Account with institution |
|
| Beneficiary |
|
| Remittance information |
|
| Regulatory reporting |
|
| Currency/original ordered amount |
|
| Details of charges |
|
| Charges account |
|
| Exchange rate |
|
| Transaction details 2 |
|
| Transaction reference |
|
| F/X deal reference |
|
| Instruction code |
|
| Currency/transaction amount |
|
| Ordering customer |
|
| Beneficiary |
|
| Remittance information |
|
| Original ordered amount |
|
| Details of charges |
|
| Charges account |
|
| Exchange rate |
|
| Transaction details 3 |
|
| Transaction reference |
|
| Instruction code |
|
| Instruction code |
|
| Currency/transaction amount |
|
| Ordering customer |
|
| Account servicing institution |
|
| Beneficiary |
|
| Details of charges |
|
| End of message text/trailer |
|
MT 940 Customer Statement message
In the following statement message sent by CHXXUS33 to the Sender of the MT 101, the statement line contains the transaction amounts as specified in Field 32B, transaction references as specified in field 21, and the ordering customer account number as specified in field 50H, Account.
| Explanation |
Format |
|---|---|
| Sender |
|
| Message Type |
|
| Receiver |
|
| Message text |
|
| Sender's reference |
|
| Account identification |
|
| Statement number |
|
| Opening balance |
|
| Statement line |
|
| Information to account owner |
|
| Statement line |
|
| Information to account owner |
|
| Statement line |
|
| Information to account owner |
|
| Closing balance |
|
| End of message text/trailer |
|
