This message is used to move funds from the ordering financial institution's account, serviced at the receiving financial institution or at the account servicing institution, or from an account(s) owned by the ordering institution for which the initiating institution has explicit authority to debit, for example, a subsidiary account.
It can be used to order the movement of funds:
between the ordering institution's accounts, or
in favour of a third party, either domestically or internationally.
The message is sent by a financial institution on behalf of the ordering financial institution, that is, the account owning financial institution, or on behalf of the initiating financial institution. It is subsequently received by a financial institution and processed by this receiving financial institution or another account servicing financial institution.
The complete chain of parties and the transaction flow is illustrated by the following figure:
The parties mentioned in the chain are not necessarily different entities. The first column of the table below shows the parties that can be omitted in an MT 207. The second column specifies the party which assumes the role of the party in the first column, when it is not present:
 If the following party is missing ... |
Its function is assumed by ... |
|---|---|
| Initiating institution |
Ordering institution |
| Account servicing institution |
Receiver |
| Intermediary |
Account with institution |
| Account with institution |
Receiver |
