SWIFT MT101 Usage by parent company to pay on behalf of subsidiaries

SWIFT MT101 Usage by parent company to pay on behalf of subsidiaries

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The previous article was about the usage of the SWIFT MT101 by a parent company to pay from a subsidiary account. A parent company can also use the SWIFT MT101 to pay from its own account on behalf of multiple subsidiaries. In this article, we will see how this is performed and the information...
SWIFT MT101 Usage pay subsidiary

SWIFT MT101 Usage to pay from a subsidiary account

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The MT101 is a payment initiation message that can be used for many purposes and in various ways. An overview of how corporations use it was provided in the introductory article of this series. We saw in the previous article the meaning of using the field 50a in the MT101 sequence B. In the...
SWIFT MT101 50H Sequence B

SWIFT MT101 Usage to pay from multiple debit accounts

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The previous article was about a SWIFT MT101 where the field 50a (Ordering Customer) is present in the Sequence A. As a result, the account provided in sequence A is debited for credit of all the beneficiaries mentioned in the sequence B transactions details. However, as you can see in the SWIFT MT101 definition,...
SWIFT MT101 Basic example two domestic transactions

Basic SWIFT MT101 Message with two domestic transactions

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In the previous article, we saw how corporations use the SWIFT MT101 message to transfer funds either domestically or internationally. Now we want to go deeper and look at the content of SWIFT MT101 messages. The SWIFT MT101 message specifications is of great help to understand the messages content. Take few minutes to read...
How Corporations use the SWIFT MT101 Request for transfer

How Corporations use the SWIFT MT101 Request for transfer

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The SWIFT MT101 Request for Transfer is a payment initiation message used by corporations to send domestic and/or international payment instructions to their banks. The equivalent of the SWIFT MT101 message in the ISO 20022 standard is called the Pain.001 (Customer Credit Transfer Initiation). The MT101 message can be used in many ways and...
MT103 Serial Payment 3 between Receiver correspondent Account Institution

SWIFT MT103 serial payment analysis 3/3

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This is the third and last article about a SWIFT MT103 serial payment (so settled via the serial method). We already studied the cover method and how it is used to settle that payment. Read the series of articles to which I refer you in this article if you want to learn more about...
MT103 Serial Payment 2 between Sender correspondent Intermediary Institution

SWIFT MT103 serial payment analysis 2/3

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This is the second article where we are looking at a concrete example of MT103 serial payment. We already saw how the cover method is used to settle that payment. Read the series of articles I refer you to in the previous article if you want to learn more about the cover method. When the...
MT103 Serial Payment 1 between Debtor bank correspondent

SWIFT MT103 serial payment analysis 1/3

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In a previous article, serial and cover methods were presented. Then we analyzed a concrete example of payment settled with cover method in the following articles: SWIFT MT103 202 Cover payment analysis – part 1 SWIFT MT103 202 Cover payment analysis – part 2 SWIFT MT103 202 Cover payment analysis – part 3 SWIFT...
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