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What is field 53a in MT103?

What is field 53a in MT103?

Field description. Use this field to indicate the sender’s correspondent. Use option: A to specify the correspondent’s BIC in the format 4! a2!

What is field 53a in SWIFT?

Field 53a: Reimbursing Bank is a field in MT 700 swift message type that specify the name of the bank which has been authorized by the Sender to reimburse drawings under the documentary credit. This may be a branch of the Sender or the Receiver, or an entirely different bank. This is an optional field.

What is MT103 field 53B?

Field 53B indicates the account number of the Sender, serviced by the Receiver, which is to be used for reimbursement in the transfer.

What is mt700 used for?

MT 700 message is sent by the issuing bank to the advising bank. It is used to indicate the terms and conditions of a documentary credit which has been originated by the Sender (issuing bank).

What is MT 202 used for?

MT202 COV is a SWIFT message format for financial institution (FI) funds transfer between financial institutions. MT202 COV was implemented in 2009 to create traceability of the origination of funds (institution and account) through to the destination of funds (institution and account).

Is MT799 authenticated?

The MT799 is a type of SWIFT message that banks use to securely communicate authenticated free format messages with other banks. It is important to understand that the MT799 is not used for transferring funds or a promise to do so.

What is Field 79 in a swift message?

This field contains a narrative description of the original message, or single transaction within a multiple message, which will enable the Receiver to positively identify the message or transaction to be cancelled.

What is field 32a in SWIFT?

Definition. This field specifies the value date, the currency and the settlement amount. The settlement amount is the amount to be booked/reconciled at interbank level.