💳 SWIFT MT‑102 – Multiple Customer Credit Transfer

US Capital Private Bank Knowledge Base

MT‑102 is a SWIFT Category 1 message used by financial institutions to aggregate and send multiple customer credit transfer instructions in a single message. It facilitates batch processing of payments on behalf of multiple customers, optimizing processing efficiency and reducing costs.

📘 What is MT‑102?

• Purpose: Consolidates multiple credit transfer instructions from different customers into one message for sending to the next bank in the payment chain.

• Typical Use Cases:

  • Banks processing bulk payments on behalf of several corporate clients

  • Efficient handling of multiple payrolls, vendor payments, or supplier settlements

• Supports both debit and credit details, enabling payment execution and settlement.

⚙️ Message Structure & Key Fields

• The message can contain multiple blocks of debit and credit instructions for different customers.

🧩 Features

• Enables batch processing of multiple payment instructions in a single SWIFT message.

• Helps banks reduce operational costs by consolidating payments.

• Improves cash management through combined transaction reporting.

• Supports various charge options to specify who bears transfer fees.

🔐 Compliance & Security

• Ensures secure transmission via SWIFT network.

• Complies with AML and KYC regulations for all payments.

• Supports auditable payment trails for regulatory reporting and reconciliation.

✅ Best Practices

1. Use unique transaction references to avoid duplication.

2. Clearly specify debit and credit parties with accurate account details.

3. Provide detailed remittance info for each credit transfer.

4. Use consistent charge codes to avoid confusion over fee responsibilities.

5. Verify BICs and account numbers before sending.

📞 Contact US Capital Private Bank

📧 Email: [email protected]
🌐 Website: https://uscapitalprivatebank.com
📞 Phone: +971 52 992 6005

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