💵 SWIFT MT‑103 – Single Customer Credit Transfer

US Capital Private Bank Knowledge Base

MT‑103 is the SWIFT standard for cross‑border customer payments, acting as a digital receipt and proof of payment. It carries detailed transaction data—including sender, recipient, amount, charges, and optional bank‑to‑bank instructions (Field 72).

📘 What is MT‑103?

• A financial institution transfer message used to send interbank payments on behalf of individual or corporate customers. It’s the global standard for international wire transfers Wikipedia+12Moneymover+12BNZ+12.

• Includes full details: sender, recipient, value date, currency, charges, and traceability—all essential for tracking and dispute resolution Skydo+2Moneymover+2corporates.db.com+2.

🧾 Key Fields in MT‑103

🧩 Field 72 – Bank‑to‑Bank Information

• Purpose: Free-format instructions or clarifications from one bank to another—not for STP-critical or customer-facing data developer.gs.com+3Moneymover+3Wikipedia+3Oracle Docs+2Finmo Support Portal+2Moneymover+2Wikipedia+4corporates.db.com+4Moneymover+4pinas.synology.me+7knowledge.xmldation.com+7Moneymover+7BNZ.

• Format: Up to 6 lines × 35 characters. Each instruction line MUST begin with a code in slashes, e.g.:

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  :72:/INS/ABNANL2A //Intermediary bank instruction details

• Standard Codes Include:

  • /ACC/ Account with institution

  • /INS/ Instructing institution

  • /INT/ Intermediary bank

  • /REC/ Receiver bank

  • [EXCH/ etc. under bilateral agreement]
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• Rules & Best Practices:

  • Do not use it for information meant for other fields knowledge.xmldation.com+1pinas.synology.me+1.

  • Avoid uncoded narrative—it disrupts STP processing .

  • Use structured codes; free-format requires manual handling and may delay payments Oracle Docs+3pinas.synology.me+3Moneymover+3.

  • In MT-103+ (STP) messages, only /INS/ is allowed; no /REJT/, /RETN/, or ERI info Wise+7Oracle Docs+7knowledge.xmldation.com+7.

🌐 MT‑103 Usage Workflow

1. Client requests international transfer via bank.

2. Bank populates MT‑103 with all fields including optional :72: if special bank instructions apply.

3. Payment routes through intermediaries using provided BICs (fields 53–57).

4. Intermediaries extract relevant /ACC/, /INS/ info from Field 72.

5. Receipient bank uses/removes Field 72 before crediting the beneficiary.

🎯 Field 72 Examples

• Instructing institution:

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  :72:/INS/ABNANL2A

• Account-specific instruction:

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  :72:/ACC/AccountNumber123 //Use this account for credit of final charges

• Chaining instructing banks:

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  :72:/INS/BANKXUS33 //first link in instruction path /INS/BANKYSGSG //second link

🔄 MT‑103 vs MT‑202COV

• MT‑103: Retail customer payment with detailed route and charges

• MT‑202COV: Institutional cover message without customer trace

  • Introduced in 2009 for AML compliance Skydo+2corporates.db.com+2Oracle Docs+2Wikipedia+1Oracle Docs+1pinas.synology.meknowledge.xmldation.com+1pinas.synology.me+1Skydo+1Moneymover+1BNZ+2Wikipedia+2Wikipedia+2

✅ Summary & Best Practices

• Use clear coding in Field 72: /ACC/, /INS/, /INT/, /REC/

• Avoid narrative – STP systems may delay or reject it

• For STP-compliant MT‑103+:

  • Include STP flag in user header (:3:{119:STP})

  • Only code /INS/, no rejects or ERI

• Keep each coded instruction ≤ 35 chars per line, no more than 6 lines total

📞 Contact Support

Need help with drafting compliant MT-103 messages or interpreting Field 72?

• Email: [email protected]

• Phone: +971 52 992 6005

• Website: https://uscapitalprivatebank.com