This message is sent by or on behalf of the financial institution of the ordering customer(s) to another financial institution for payment to the beneficiary customer(s).
It requests the Receiver to credit the beneficiary customer(s) directly or indirectly through a clearing mechanism or another financial institution.
This message is used to convey multiple payment instructions between financial institutions for clean payments. Its use is subject to bilateral/multilateral agreements between Sender and Receiver.
Amongst other things, these bilateral agreements cover the transaction amount limits, the currencies accepted and their settlement. The multiple payments checklist included below is recommended as a guide for institutions in the setup of their agreements.
