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MT 256 Field Specifications

20. Field 58B: Beneficiary Institution's Account (for Settlement)

FORMAT

Option B [/1!a][/34x]
[35x]
(Party Identifier)
(Location)

PRESENCE

Optional in mandatory sequence C

DEFINITION

This field specifies the account number of the financial institution which is the ultimate recipient of the funds being (re)transferred (that is the receiver of the cheque truncation message).

USAGE RULES

Party Identifier is to be used to specify the account to be credited, where

EXAMPLE

:58B:/123-45678