The KTT MT 103 is a SWIFT message type that is typically used for international wire transfers. According to the SWIFT website, as of November 2018, over 10,000 banks and financial institutions around the world were using the KTT MT 103.
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What is an MT 103 and Field 23? Is this an instrument in which the provider can be leveraged. Is this an obligation to pay? If this instrument is sent to one of the major world banks is their any risk of providing such an instrument?
An MT 103 is a SWIFT banking code or message. The MT 103 typically means a wire transfer is about to be made as a form of payment.
An MT 103 is an authenticated swift message whereby an orderer or ordering institution gives instructions to pay a beneficiary.
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