0
Oh, dude, an MT103 field 70 is just a code used in international banking to indicate the purpose of a payment. It's like the secret language of money movers. So, if you ever find yourself deciphering one of these bad boys, just know you're in the big leagues of financial jargon.
Add your answer:
Earn +20 pts
WHAT IS KTT MT103 AND HOW IS IT USED?
A client wants to transfer funds from one country to another via ktt mt103 followed by mt202 cash transfer. WHAT DOES THIS MEAN?
The meaning of mt 799 and mt 103 are acceptable opened in your bank - locked or blocked?
is a mt103 just text message just to let the other bank know of their RWA
What equals 70 that is not prime?
70 equals 70, and it is not prime.70 equals 70, and it is not prime.70 equals 70, and it is not prime.70 equals 70, and it is not prime.
How do you make a set of twelve numbers that have 73 as the maximum 67 as the minamum and 70 for both the median and mode?
(67, 70, 70, 70, 70, 70, 70, 70, 70, 70, 70, 73)
How many percent is of 70 is 70?
70 is 100% of 70.
What is the meaning of field 71A in MT103?
Field 71A in an MT103 message is used to specify details of the charges deducted from the remittance amount. It typically contains information about who will bear the charges - either the Sender (SHA), the Receiver (OUR), or shared between both parties (OUR).
What is MT103 field 50?
MT 103 field 50 represents the bank Account number of the issuing bank. Regards, Priya
Can you insert field 71F without inserting field 33B or 36 SWIFT MT103?
If either field 71F (at least one occurrence) or field 71G is present, then field 33B is mandatory
Can MT103-23 be discounted?
Can MT103-23 be discounted?
What is the meaning of field 71F?
71F seems to reflect "Sender's charges" on an MT103, being a SWIFT Transfer Payment
WHAT IS A MT103?
The MT103/23 does NOT exist any longer. If you are being asked to use it it is a joke. MT103 is a NON-CONDITIONAL payment method. You CANNOT add conditions to it because it would effect the "pass-through" of the MT103. No bank will even accept it they just ignore it and pay the funds out as directed by the MT103 not the field 23 which is no longer in use. If you are being offered an MT103/23 option I would advise you to run. It is usually a sign that someone in the chain does not realise it is a scam or they hope that you do not as it used to be in use but not for this purpose. Why request a format that is no longer used and would be ignored even if you tried.
What is MT103 and MT760?
MT103 and MT760 are international financial transaction code numbers. The code, MT103 SWIFT message is the most commonly used.
What is a Swift MT 103 field 71?
MT103 is customer money transfer and more predominantly being used in banking field under swift modem. However field 71 is attached with charges.
What is MT10323?
Types of MT103This is an extract from the SWIFT UHB, describing the scope of an MT103. The only three variations are MT103 (general use), MT103+ (straight through processing) and MT103 Extended Remittance.Does an MT103 23 exist?No, do not be fooled - MT103 23 does NOT exist. Field 23 is a field with the message type itself.MT 103 ScopeThis message type is sent by or on behalf of the financial institution of the ordering customer,directly or through (a) correspondent(s), to the financial institution of the beneficiary customer.It is used to convey a funds transfer instruction in which the ordering customer or thebeneficiary customer, or both, are non-financial institutions from the perspective of the Sender.This message may only be used for clean payment instructions. It must not be used to advise theremitting bank of a payment for a clean, eg, cheque, collection, nor to provide the cover for atransaction whose completion was advised separately, eg, via an MT 400.
What is conditional MT103?
An MT103 is a SWIFT message sent to make a transfer of funds. It is commonly known as a 'wire transfer' because the payment is made electronically (over a wire). There is no 'conditional' to an MT103. It will happen and is, by definition, unconditional.
What is the meaning of MT103 in terms of payment?
MT103 is a Single Customer Payment between the two customer accounts across the banks. Its a cross border payments.
WHAT IS KTT MT103 AND HOW IS IT USED?
A client wants to transfer funds from one country to another via ktt mt103 followed by mt202 cash transfer. WHAT DOES THIS MEAN?
