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MT 103 STP Examples

MT 103 STP Examples for the MT 103 STP, used outside any Service Level Agreements

Example 1.1: Single Customer Credit Transfer with Direct Account Relationship

Narrative

Biodata G.m.b.H. orders UBS, Zürich, to pay euro 1,958.47 to ABN Amro Bank, Amsterdam, for the account of H.F. Janssen.

Information Flow

D0010052

SWIFT Message

Explanation Format
Sender UBSWCHZH80A
Message type 103 STP
Receiver ABNANL2A
Message text
Sender's reference :20:494931/DEV
Bank operation code :23B:CRED
Value date/currency/interbank settled amount :32A:090828EUR1958,47
Currency/Instructed Amount :33B:EUR1958,47
Ordering customer :50K:/122267890
BIODATA GMBH
HOCHSTRASSE, 27
8022-ZURICH
SWITZERLAND
Beneficiary customer :59:/NL76502664959
H.F. JANSSEN LEDEBOERSTRAAT 27
AMSTERDAM
Details of charges :71A:SHA
End of message text/trailer
Note:  No reimbursement party has been indicated in the above message. The direct account relationship, in the currency of the transfer, between the Sender and the Receiver will be used.

Example 1.2: Single Customer Credit Transfer Specifying Account for Reimbursement

Narrative

Biodata G.m.b.H. orders UBS, Zürich, to pay euro 1,958.47 to ABN Amro Bank, Amsterdam, for the account of H.F. Janssen, in payment of invoice number 18042 dated 15 July 2009.

As there is more than one account relationship in the currency of the transfer between the Sender and Receiver, UBS, Zürich specifies that account number 21 94 29 055 should be used for reimbursement.

UBS, Zürich, knows that ABN Amro Bank, Amsterdam, will charge euro 2.50 to execute this transaction.

Information Flow

D0010053

SWIFT Message

Explanation Format
Sender UBSWCHZH80A
Message type 103 STP
Receiver ABNANL2A
Message text
Sender's reference :20:494932/DEV
Bank operation code :23B:CRED
Value date/currency/interbank settled amount :32A:090828EUR1960,97
Currency/Instructed amount :33B:EUR1958,47
Ordering customer :50K:/122267890
BIODATA GMBH
HOCHSTRASSE, 27
8022-ZURICH
SWITZERLAND
Sender's correspondent  (1)  :53B:/219429055
Beneficiary customer :59:/NL76502664959
H.F. JANSSEN LEDEBOERSTRAAT 27
AMSTERDAM
Remittance information  (2)  :70:/INV/18042-090715
Details of charges :71A:OUR
Receiver's charges :71G:EUR2,50
End of message text/trailer

(1)  Field 53B indicates the account number of the Sender's account, serviced by the Receiver, which is to be used for reimbursement in the transfer.

(2)  As the Reference for the beneficiary is an invoice number, the code /INV/ is used, followed by the invoice number.

Example 1.3: Single Customer Credit Transfer with Ordering and Account With Institutions

Narrative

Franz Holzapfel G.m.b.H. orders Bank Austria, Eisenstadt, to pay, value 28 August 2009, US Dollars 850 into C. Won's account number 729615-941 with Oversea-Chinese Banking Cooperation, Singapore. The payment is for July 2009 expenses.

Bank Austria, Eisenstadt, asks its head office in Vienna, to make the payment. Both Bank Austria, Vienna, and Oversea-Chinese Banking Cooperation, Singapore, have their US dollars account at Citibank's New York office.

Both customers agree to share the charges. Citibank charges US Dollars 10.

Information Flow

D0010054

First SWIFT Message, MT 103 STP

Explanation Format
Sender BKAUATWW
Message type 103 STP
Receiver CITIUS33
Message text
Sender's reference :20:494938/DEV
Bank operation code :23B:CRED
Value date/currency/interbank settled amount :32A:090828USD850,
Ordering customer :50F:/942267890
1/FRANZ HOLZAPFEL GMBH
2/GELBSTRASSE, 13
3/AT/VIENNA
Ordering institution :52A:BKAUATWWEIS
Account with institution :57A:OCBCSGSG
Beneficiary customer

:59F:/729615-941
1/C.WON
2/PARK AVENUE 1
3/SG

:59:/729615-941
C.WON
PARK AVENUE 1
SINGAPORE

Remittance information :70:/RFB/EXPENSES 7/2009
Details of charges :71A:SHA
End of message text/trailer

Mapping

The following illustrates the mapping of the first MT 103 STP onto the next MT 103 STP:

D0010055

Second SWIFT Message, MT 103 STP

Explanation Format
Sender CITIUS33
Message type 103 STP
Receiver OCBCSGSG
Message text
Sender's reference :20:494938/DEV
Bank operation code :23B:CRED
Value date/currency/interbank settled amount :32A:090828USD840,
Currency/Instructed amount :33B:USD850,
Ordering customer :50F:/942267890
1/FRANZ HOLZAPFEL GMBH
2/GELBSTRASSE, 13
3/AT/VIENNA
Ordering institution :52A:BKAUATWWEIS
Beneficiary customer

:59F:/729615-941
1/C.WON
2/PARK AVENUE 1
3/SG

:59:/729615-941
C.WON
PARK AVENUE 1
SINGAPORE

Remittance information :70:/RFB/EXPENSES 7/2009
Details of charges :71A:SHA
Sender's charges :71F:USD10,
Sender to receiver information :72:/INS/BKAUATWW
End of message text/trailer

Example 1.4: Single Customer Credit Transfer with Reimbursement Through Two Institutions

Narrative

Value August 28, 2009, Franz Holzapfel G.m.b.H. orders Bank Austria, Vienna, to pay US Dollars 1,121.50 to C. Klein, Bloemengracht 15, Amsterdam, whose account number 72 34 91 524 is with ABN Amro Bank, Amsterdam.

Bank Austria uses reference 394882.

This transfer may be sent via SWIFT using one of the following methods:

  1. Sent to the party closest to the beneficiary, through several reimbursement institutions

  2. Sent to the next party in the transfer.

Note:  The alternative selected is dependent on correspondent relationships and financial practice in the countries involved.
Method 1 SWIFT MT 103 STP to the Party Closest to the Beneficiary

Bank Austria sends the following messages:

  1. A customer transfer to ABN Amro Bank, Amsterdam.

  2. A cover message for the US dollar payment, which is provided through Chase Manhattan Bank, New York, to ABN Amro Bank, New York.

Message A SWIFT MT 103 STP Single Customer Credit Transfer

Information Flow

D0010056

SWIFT Message, MT 103 STP

Explanation Format
Sender BKAUATWW
Message type 103 STP
Receiver ABNANL2A
Message text
Sender's reference :20:394882
Bank operation code :23B:CRED
Value date/currency/interbank settled amount :32A:090828USD1121,50
Currency/Instructed amount :33B:USD1121,50
Ordering customer :50F:/942267890
1/FRANZ HOLZAPFEL GMBH
2/GELBSTRASSE, 13
3/AT/VIENNA
Sender's correspondent  (1)  :53A:CHASUS33
Receiver's correspondent  (2)  :54A:ABNAUS33
Beneficiary customer

:59F:/NL57723491524
1/C. KLEIN
2/BLOEMENGRACHT 15
3/NL/AMSTERDAM

:59:/NL57723491524
C. KLEIN
BLOEMENGRACHT 15
AMSTERDAM

Details of charges :71A:SHA
End of message text/trailer

(1)  Field 53A indicates the institution which is to provide the funds to the Receiver on behalf of the Sender.

(2)  Field 54A is the receiver's correspondent - the institution which will receive the funds on behalf of the Receiver.

Mapping

D0010057

Message B SWIFT MT 202 COV (Cover message)

Information Flow

D0010058

SWIFT Message, MT 202 COV

Explanation Format
Sender BKAUATWW
Message type 202
Receiver CHASUS33
Validation flag 119:COV
Message Text: General Information
Transaction reference number :20:203998988
Related reference  (1)  :21:394882
Value date/currency code/amount :32A:090828USD1121,50
Account with institution :57A:ABNAUS33
Beneficiary institution :58A:ABNANL2A
Underlying Customer Credit Transfer Details
Ordering customer :50F:/942267890
1/FRANZ HOLZAPFEL GMBH
2/GELBSTRASSE, 13
3/AT/VIENNA
Beneficiary customer

:59F:/NL57723491524
1/C. KLEIN
2/BLOEMENGRACHT 15
3/NL/AMSTERDAM

:59:/NL57723491524
C. KLEIN
BLOEMENGRACHT 15
AMSTERDAM

Currency/Instructed amount :33B:USD1121,50
End of message text/trailer

(1)  The related reference is the Sender's reference of the Single Customer Credit Transfer.

Method 2 SWIFT MT 103 STP to the Next Party in the Transaction
Message A SWIFT MT 103 STP Single Customer Credit Transfer

Information Flow

D0010059

SWIFT Message, MT 103 STP

Explanation Format
Sender BKAUATWW
Message type 103 STP
Receiver CHASUS33
Message text
Sender's reference :20:394882
Bank operation code :23B:CRED
Value date/currency/interbank settled amount :32A:090828USD1121,50
Ordering customer :50F:/942267890
1/FRANZ HOLZAPFEL GMBH
2/GELBSTRASSE, 13
3/AT/VIENNA
Intermediary institution  (1)  :56A:ABNAUS33
Account with institution  (2)  :57A:ABNANL2A
Beneficiary customer

:59F:/723491524
1/C. KLEIN
2/BLOEMENGRACHT 15
3/NL/AMSTERDAM

:59:/723491524
C. KLEIN
BLOEMENGRACHT 15
AMSTERDAM

Details of charges :71A:SHA
End of message text/trailer

(1)  The intermediary institution, ABN Amro Bank, New York, will receive the funds from the Receiver of this message, Chase Manhattan Bank, New York.

(2)  ABN Amro Bank, Amsterdam, will receive the funds from the intermediary institution, its New York office, for credit to the beneficiary's account.

Mapping

D0010068

Message B 2nd SWIFT MT 103 STP (or its equivalent domestic clearing message)

Information Flow

D0010061

SWIFT Message, MT 103 STP

Explanation Format
Sender CHASUS33
Message type 103 STP
Receiver ABNAUS33
Message text
Sender's reference :20:52285724
Bank operation code :23B:CRED
Value date/currency/interbank settled amount :32A:090828USD1111,50
Currency/Instructed amount :33B:USD1121,50
Ordering customer :50F:/942267890
1/FRANZ HOLZAPFEL GMBH
2/GELBSTRASSE, 13
3/AT/VIENNA
Ordering institution  (1)  :52A:BKAUATWW
Account with institution  (2)  :57A:ABNANL2A
Beneficiary customer

:59F:/723491524
1/C. KLEIN
2/BLOEMENGRACHT 15
3/NL/AMSTERDAM

:59:/723491524
C. KLEIN
BLOEMENGRACHT 15
AMSTERDAM

Details of charges :71A:SHA
Sender's charges :71F:USD10,
End of message text/trailer

(1)  The Sender of the initial MT 103 STP is Bank Austria, Vienna, which is the ordering institution in all subsequent messages.

(2)  ABN Amro Bank, Amsterdam, will receive the funds from the Receiver of this message, its New York office, for credit to the beneficiary's account.

Message C 3rd SWIFT MT 103 STP (or its equivalent domestic clearing message)

Information Flow

D0010062

SWIFT Message, MT 103 STP

Explanation Format
Sender ABNAUS33
Message type 103 STP
Receiver ABNANL2A
Message text
Sender's reference :20:5387354
Bank operation code :23B:CRED
Value date/currency/interbank settled amount :32A:090828USD1101,50
Currency/Instructed amount :33B:USD1121,50
Ordering customer :50F:/942267890
1/FRANZ HOLZAPFEL GMBH
2/GELBSTRASSE, 13
3/AT/VIENNA
Ordering institution  (1)  :52A:BKAUATWW
Beneficiary customer

:59F:/723491524
1/C. KLEIN
2/BLOEMENGRACHT 15
3/NL/AMSTERDAM

:59:/723491524
C. KLEIN
BLOEMENGRACHT 15
AMSTERDAM

Details of charges :71A:SHA
Sender's charges :71F:USD10,
Sender's charges :71F:USD10,
Sender to receiver information :72:/INS/CHASUS33
End of message text/trailer

(1)  The Sender of the initial MT 103 STP is Bank Austria, Vienna, which is the ordering institution in all subsequent messages.

Example 1.5: Customer Transfer with Currency Conversion

Narrative

Consortia Pension Scheme, a corporate in Zürich requests its bank (BNKACHZZ) to execute a pension payment in Swiss Francs. The beneficiary has his account, 429-5470572-63, with the Belgian correspondent of BNKACHZZ.

Information Flow

D0010063

SWIFT Message, MT 103 STP

Explanation Format
Sender BNKACHZZ
Message type 103 STP
Receiver BNKBBEBB
Message text
Sender's reference :20:5362/MPB
Bank operation code :23B:CRED
Value date/currency/interbank settled amount :32A:090828EUR1244,47
Currency/Instructed amount :33B:CHF2000,
Exchange rate :36:0,619735
Ordering customer :50K:/12345789549
CONSORTIA PENSION SCHEME
FRIEDRICHSTRASSE, 27
8022-ZURICH
Beneficiary customer :59:/BE68001161685134
JOHANN WILLEMS
RUE JOSEPH II, 19
1040 BRUSSELS
Details of charges :71A:OUR
Receiver's charges :71G:EUR5,
End of message text/trailer

In the statement message sent by BNKBBEBB to its Swiss correspondent, the settlement amount as specified in field 32A and the Sender's reference specified in field 20 will be quoted in the appropriate statement line. For the example given this would result in the following MT 950:

SWIFT Message, MT 950

Explanation Format
Sender BNKBBEBB
Message type 950
Receiver BNKACHZZ
Message text
Transaction reference number :20:112734
Account identification :25:415370412218
Statement number :28C:102/1
Opening balance :60F:C090827EUR100000,
Statement line :61:090828D1244,47S1035362/MPB//1234T
Closing balance :62F:C090828EUR98755,53
End of message text/trailer

MT 103 STP Example for the MT 103 STP, used in a Service Level Agreement

In the following examples both the Sender and the Receiver agreed to exchange payment messages under a SWIFT Service Level.

The message available for this group of users has the following layout for both the Standard and SWIFTPay Service Level:

MT 103 STP Single Customer Credit Transfer
Status Tag Field Name Content/Options No.
   
M 20 Sender's Reference 16x 1
----->
O 13C Time indication /8c/4!n1!x4!n 2
-----|
M 23B Bank Operation Code SSTD or SPAY 3
----->
O 23E Instruction Code 4!c 4
-----|
O 26T Transaction Type Code 3!a 5
M 32A Value Date/Currency/Interbank Settled Amount 6!n3!a15d 6
O 33B Currency/Instructed Amount 3!a15d 7
O 36 Exchange Rate 12d 8
M 50a Ordering Customer A or K 9
O 52A Ordering Institution [/1!a][/34x]
4!a2!a2!c[3!c]		 10
O 53a Sender's Correspondent A or B 11
O 54A Receiver's Correspondent [/1!a][/34x]
4!a2!a2!c[3!c]		 12
O 55A Third Reimbursement Institution [/1!a][/34x]
4!a2!a2!c[3!c]		 13
O 56A Intermediary Institution [/1!a][/34x]
4!a2!a2!c[3!c]		 14
O 57A Account With Institution [/1!a][/34x]
4!a2!a2!c[3!c]		 15
M 59a Beneficiary Customer No letter option, A, or F A or no letter option 16
O 70 Remittance Information 4*35x 17
M 71A Details of Charges 3!a 18
----->
O 71F Sender's Charges 3!a15d 19
-----|
O 71G Receiver's Charges 3!a15d 20
O 72 Sender to Receiver Information 6*35x 21
O 77B Regulatory Reporting 3*35x 22

The message available for this group has the following layout for the Priority Service Level:

MT 103 STP Single Customer Credit Transfer
Status Tag Field Name Content/Options No.
 
M 20 Sender's Reference 16x 1
----->
O 13C Time indication /8c/4!n1!x4!n 2
-----|
M 23B Bank Operation Code SPRI 3
----->
O 23E Instruction Code 4!c 4
-----|  
O 26T Transaction Type Code 3!a 5
M 32A Value Date/Currency/Interbank Settled Amount 6!n3!a15d 6
O 33B Currency/Instructed Amount 3!a15d 7
O 36 Exchange Rate 12d 8
M 50a Ordering Customer A or K 9
O 52A Ordering Institution [/1!a][/34x]
4!a2!a2!c[3!c]		 10
O 53a Sender's Correspondent A or B 11
O 54A Receiver's Correspondent [/1!a][/34x]
4!a2!a2!c[3!c]		 12
O 55A Third Reimbursement Institution [/1!a][/34x]
4!a2!a2!c[3!c]		 13
O 56A Intermediary Institution [/1!a][/34x]
4!a2!a2!c[3!c]		 14
O 57A Account With Institution [/1!a][/34x]
4!a2!a2!c[3!c]		 15
M 59a Beneficiary Customer No letter option, A, or F A or no letter option 16
O 70 Remittance Information 4*35x 17
M 71A Details of Charges 3!a 18
----->
O 71F Sender's Charges 3!a15d 19
-----|
O 71G Receiver's Charges 3!a15d 20
O 72 Sender to Receiver Information 6*35x 21
O 77B Regulatory Reporting 3*35x 22

Example 2.1: Single Customer Credit Transfer With Reimbursement Through Several Institutions

Narrative

Value August 28, 2009, Franz Holzapfel G.m.b.H. orders Bank Austria, Vienna, to pay US Dollars 1,121.50 to C. Klein, Bloemengracht 15, Amsterdam, whose account number 72 34 91 524 is with ABN Amro Bank, Amsterdam.

Bank Austria uses reference 394882.

In this example, the MT 103 STP will be sent to the party closest to the beneficiary, through several reimbursement institutions. It would also be possible to send the MT 103 STP to the next party in the transfer.

Note:  The alternative selected is dependent on correspondent relationships and financial practice in the countries involved.
SWIFT MT 103 STP to the Party Closest to the Beneficiary

Bank Austria sends the following messages:

  1. A customer transfer to ABN Amro Bank, Amsterdam.

  2. A cover message for the US dollar payment, which is provided through Chase Manhattan Bank, New York, to ABN Amro Bank, New York.

BKAUATWW agreed on the Standard Service Level, as did its Dutch correspondent ABNANL2A.

Information Flow

D0010064

SWIFT Message, MT 103 STP

Explanation Format
Sender BKAUATWW
Message type 103 STP
Receiver ABNANL2A
Message text
Sender's reference :20:394882
Bank operation code :23B:SSTD
Value date/currency/interbank settled amount :32A:090828USD1121,50
Currency/Instructed amount :33B:USD1121,50
Ordering customer :50F:/942267890
1/FRANZ HOLZAPFEL GMBH
2/GELBSTRASSE, 13
3/AT/VIENNA
Sender's correspondent  (1)  :53A:CHASUS33
Receiver's correspondent  (2)  :54A:ABNAUS33
Beneficiary customer

:59F:/NL57723491524
1/C. KLEIN
2/BLOEMENGRACHT 15
3/NL/AMSTERDAM

:59:/NL57723491524
C. KLEIN
BLOEMENGRACHT 15
AMSTERDAM

Details of charges :71A:SHA
End of message text/trailer

(1)  Field 53A indicates the institution which is to provide the funds to the Receiver on behalf of the Sender.

(2)  Field 54A is the receiver's correspondent - the institution which will receive the funds on behalf of the Receiver.

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