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💳 SWIFT MT‑102+ (STP) – Multiple Customer Credit Transfer (STP)

💳 SWIFT MT‑102+ (STP) – Multiple Customer Credit Transfer (STP)

US Capital Private Bank Knowledge Base

MT‑102+ (STP) is an enhanced version of the standard MT‑102 message, designed to facilitate Straight Through Processing (STP) for multiple customer credit transfers. This streamlined format supports automated, error-minimized batch payments by financial institutions on behalf of their clients.

📘 What is MT‑102+ (STP)?

  • Purpose: Enables banks to send multiple customer credit transfer instructions with greater automation, reducing manual intervention.

  • STP (Straight Through Processing): Allows payment instructions to be processed electronically from start to finish without manual handling, enhancing speed and accuracy.

  • Typical Uses:

    • Bulk payroll payments

    • Vendor/supplier settlements

    • Intercompany fund transfers

  • Improves operational efficiency and compliance by minimizing errors.

⚙️ Message Structure & Key Fields

Field Description
:20: Transaction Reference Number
:21: Related Reference
:25: Account Identification
:28D: Message Index / Sequence Number
:50: Ordering Customer
:52A: Ordering Institution
:59: Beneficiary Customer
:70: Remittance Information
:71A: Details of Charges (OUR, SHA, BEN)
:32B: Currency Code and Amount

  • The STP version standardizes data formatting to be machine-readable and facilitates automated processing.

🧩 Features & Benefits

  • Automated Processing: Reduces manual input and human errors.

  • Faster Settlements: Enables quicker batch payment execution.

  • Improved Compliance: Standardized formats help meet regulatory requirements.

  • Cost Savings: Lowers operational costs for banks and clients.

🔐 Compliance & Security

  • Transmitted securely over the SWIFT network.

  • Supports AML/KYC checks integrated into automated workflows.

  • Ensures auditable trails for regulatory reporting.

✅ Best Practices

  1. Use consistent and validated BIC codes and account numbers.

  2. Provide clear remittance information for beneficiary reconciliation.

  3. Ensure proper charge code selection to clarify payment fees.

  4. Confirm message sequencing and reference uniqueness to avoid duplication.

📞 Contact US Capital Private Bank

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

🎥 Watch: USCPBGOLD Explained

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