💳 SWIFT MT‑107 – General Direct Debit Message
US Capital Private Bank Knowledge Base
MT‑107 is a SWIFT Category 1 message used for direct debit payment instructions between financial institutions. It authorizes the debit of funds from a debtor’s account to be credited to a creditor’s account, commonly used for collections and bill payments.
📘 What is MT‑107?
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Purpose:
Initiates a direct debit transaction, allowing a creditor to collect funds directly from a debtor’s bank account. -
Use Cases:
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Utility bill collections
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Loan repayments
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Insurance premium collections
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Other recurring or one-time debit transactions
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Facilitates efficient and secure collection of payments between banks.
⚙️ Message Structure & Key Fields
| Field | Description |
|---|---|
| :20: | Transaction Reference Number |
| :21: | Related Reference |
| :25: | Account Identification |
| :28D: | Message Index / Sequence Number |
| :50H: | Ordering Customer |
| :52A: | Ordering Institution |
| :59: | Beneficiary Customer |
| :70: | Remittance Information |
| :71A: | Details of Charges (OUR, SHA, BEN) |
🧩 Features & Benefits
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Enables secure and reliable direct debit instructions between banks.
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Supports automated processing and reduces manual intervention.
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Suitable for a wide range of payment collection scenarios.
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Provides traceability and audit trails for compliance.
🔐 Compliance & Security
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Fully compliant with SWIFT messaging standards and security protocols.
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Supports AML and KYC compliance requirements.
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Ensures secure transmission over the SWIFT network.
✅ Best Practices
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Use unique transaction references to prevent duplicates.
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Specify debtor and creditor account details.
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Provide comprehensive remittance information for reconciliation.
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Define charges and responsibilities accurately using charge codes.
📞 Contact US Capital Private Bank
📧 Email: [email protected]
🌐 Website: https://uscapitalprivatebank.com
📞 Phone: +971 52 992 6005
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