💳 SWIFT MT 111 & MT 112 – Stop Payment Request and Status of Cheque

US Capital Private Bank Knowledge Base

These two SWIFT messages work together to manage and communicate stop payment requests on cheques between financial institutions.
MT 111 initiates the request to stop payment on a cheque, while MT 112 provides the status update on that request.

📘 Overview of Stop Payment Messages

• The stop payment process allows an account holder or authorized party to prevent payment on a specific cheque that has been lost, stolen, or otherwise should not be honored.

• Efficient communication between banks is essential to ensure that funds are not released on the specified cheque.

🛑 MT 111 – Request for Stop Payment of a Cheque

• Purpose:
  To formally request the stoppage of payment on a cheque before it is honored by the paying bank.

• Use Cases:

  • Lost or stolen cheque reporting

  • Fraud prevention

  • Customer-initiated stop payment instructions

• Key Fields:

  Field	Description
  :20:	Transaction Reference Number
  :21:	Related Reference
  :25:	Account Identification
  :28D:	Message Index / Sequence Number
  :32B:	Currency Code and Amount
  :52A:	Ordering Institution
  :72:	Sender to Receiver Information

• Best Practices:

  • Submit requests promptly upon discovery of the issue.

  • Provide accurate cheque details, including number and amount.

  • Use unique references for easy tracking.

🔄 MT 112 – Status of a Request for Stop Payment of a Cheque

• Purpose:
  To communicate the current status of a previously submitted stop payment request.

• Use Cases:

  • Confirming acceptance or rejection of the stop payment.

  • Updating on processing status or actions taken.

• Key Fields:

  Field	Description
  :20:	Transaction Reference Number
  :21:	Related Reference
  :25:	Account Identification
  :28D:	Message Index / Sequence Number
  :72:	Sender to Receiver Information

• Best Practices:

  • State status (e.g., accepted, rejected).

  • Include reasons if the request is rejected.

  • Maintain timely communication for client reassurance.

🔗 How MT 111 and MT 112 Work Together

• The stop payment workflow starts with an MT 111 message sent to the paying bank to request that payment on a specified cheque be stopped.

• The paying bank processes the request and replies with an MT 112 message to inform the requester of the status.

• This two-way communication ensures clarity, traceability, and timely updates on critical payment instructions.

🔐 Compliance & Security

• Both messages adhere to SWIFT messaging standards and protocols.

• Support AML and KYC regulations through secure and auditable transmissions.

• Provide necessary audit trails for dispute resolution and regulatory reporting.

📞 Contact US Capital Private Bank

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

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