💳 SWIFT MT‑104 – Direct Debit and Request for Debit Transfer (STP)

US Capital Private Bank Knowledge Base

MT‑104 is a SWIFT Category 1 message used primarily for direct debit instructions and requests for debit transfers between financial institutions. The MT‑104 (STP) variant supports Straight Through Processing (STP), enabling automated and efficient processing of debit transactions.

📘 What is MT‑104?

• Purpose:
  Initiates a debit transfer or direct debit instruction, authorizing a financial institution to debit an account and transfer funds accordingly.

• Use Cases:

  • Direct debit collection of funds for bills or payments

  • Interbank debit transfer requests

  • Scheduled or one-time debit instructions

• Enables banks to efficiently manage debit payment flows.

⚙️ Message Structure & Key Fields

🧩 Features & Benefits

• Supports Straight Through Processing (STP): Enables fully automated debit transactions without manual intervention.

• Improves Operational Efficiency: Reduces errors and processing times.

• Supports Recurring and One-time Debits: Flexible for various business needs.

• Ensures Secure and Traceable Transactions: Transmitted over the secure SWIFT network.

🔐 Compliance & Security

• Adheres to SWIFT messaging standards and formats.

• Compatible with AML and KYC compliance frameworks.

• Provides audit trails for regulatory and internal review.

✅ Best Practices

1. Use unique transaction references to prevent duplication.

2. Clearly specify ordering and beneficiary details for accuracy.

3. Provide detailed remittance information for reconciliation.

4. Confirm charges code to clarify fee responsibilities.

📞 Contact US Capital Private Bank

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

🎥 Watch: USCPBGOLD Explained