SWIFT MT103 Serial Payment 3 between Receiver correspondent and Account with Institution

SWIFT MT103 serial payment analysis 3/3

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 the […]

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MT103 Serial Payment 2 between Sender correspondent and Intermediary Institution

SWIFT MT103 serial payment analysis 2/3

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 […]

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MT103 Serial Payment between Debtor Bank and its correspondent

SWIFT MT103 serial payment analysis 1/3

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 MT910 […]

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SWIFT MT940 sent to Bank authorized by account owner

Opening, Closing and Forward Available Balances in the SWIFT MT940 Format

In the SWIFT MT940 format specifications, there are four fields for balances: F60a Opening Balance, F62a Closing Balance (Booked Funds), F64 Closing Available Balance (Available Funds) and F65 Forward Available Balance. The aim of this article is to explain the meaning of each balance field and how they are calculated. This will be illustrated through […]

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The MT202 COV sent by BNP PARIBAS, also Sender of MT103 Announcement

SWIFT MT103 202 Cover payment analysis – part 2

After the introduction and analysis of SWIFT cover and serial payments, we are now looking at one concrete example of SWIFT MT103 announcement and MT202 cover payment. In the previous article, we performed a detailed analysis of a MT103 announcement sent by the debtor bank to the creditor bank. Now we will consider the MT202 […]

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SWIFT MT103 202 Cover payment analysis – part 1

The introduction and analysis of SWIFT cover and serial payments in a previous article provided us with a good foundation to move further. We can now consider concrete examples of SWIFT MT103 202 cover payments, see which parties are involved and the content of the messages that they exchange. In this article, we will perform […]

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