 Option A |
[/1!a][/34x]4!a2!a2!c[3!c] |
(Party Identifier)(Identifier Code) |
| Option B |
[/1!a][/34x][35x] |
(Party Identifier)(Location) |
Optional in mandatory sequence C
This field specifies, where required, the account or branch of the Sender through which the Sender wants to be reimbursed by the Receiver.
Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).
Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error code(s): C05).
When there is a single direct account relationship, in the currency of the transaction, between the Receiver and the Sender, and this is the account to be used for crediting the Sender, field 53a must not be present.
In those cases where there are multiple direct account relationships, in the currency of the transaction(s), between the Receiver and the Sender, and one of these accounts is to be used for reimbursement, the account to be credited must be indicated in field 53a, using option B (with the account number only).
If there is no direct account relationship, in the currency of the transaction, between the Receiver and the Sender, then field 53a must be present (with a party identifier and bank identifier).
When field 53a is present and contains a branch of the Sender, the need for a cover message is dependent on the currency of the transaction and the relationship between the Receiver and the branch of the Sender.
A branch of the Receiver may appear in field 53a if the financial institution where the funds must be credited is both the Sender's correspondent and a branch of the Receiver. In this case, the Sender will be paid at the Receiver's branch identified in field 53a.
In all other cases, when field 53a is present, a cover message (that is, MT 202/203 or equivalent non-SWIFT) must be sent by the Receiver to the financial institution identified in field 53a.
When field 53B is used to specify a branch city name, it must always be a branch of the Sender.
The use and interpretation of field 53a is, in all cases, dictated by the currency of the transaction and the correspondent relationship between the Receiver and the Sender relative to that currency.
