The MT 103 is a General Use message, that is, no registration in a Message User Group (MUG) is necessary to send and receive this message. It allows the exchange of single customer credit transfers using all MT 103 fields, except field 77T (Envelope Contents). The MT 103 can be straight through processable if the message is properly formatted according to pre-agreed bilateral/multilateral rules.
Two variants of the MT 103 exist and these are document separately:
The MT 103 STP is a general use message, that is, no registration in a MUG is necessary to send and receive this message. It allows for the exchange of single customer credit transfers using a network-validated, restricted set of fields and format options of the MT 103 to make it straight through processable.
The MT 103 REMIT requires registration in the Extended Remittance Information MUG. This MUG allows its subscribers to exchange MT 103 REMIT messages with an extended amount of remittance information in the additional field 77T Envelope Contents. This remittance information may optionally be exchanged in a non-SWIFT format, such as EDIFACT or ANSI-X12.
