The SWIFT MT103 STP format specifications as available in the SWIFT Category 1 – Message Reference Guide. Links to pages with detailed description of fields will be provided later. Back to the payment messages page.
The SWIFT MT103 STP format specifications you find on the table below contains the fields that are found in the Block 4 or Text block of a SWIFT message. So it is only part of the information that is exchanged between senders and receivers over the SWIFT network. Here is the link to the whole structure of a SWIFT message (Blocks 1 to 5).
| Status | Tag | Field Name | Content/Options | No. |
|---|---|---|---|---|
| M | 20 | Sender's Reference | 16x | 1 |
| -----> | ||||
| O | 13C | Time Indication | /8c/4!n1!x4!n | 2 |
| -----| | ||||
| M | 23B | Bank Operation Code | 4!c | 3 |
| -----> | ||||
| O | 23E | Instruction Code | 4!c[/30x] | 4 |
| -----| | ||||
| O | 26T | Transaction Type Code | 3!c | 5 |
| M | 32A | Value Date/Currency/Interbank Settled Amount | 6!n3!a15d | 6 |
| O | 33B | Currency/Instructed Amount | 3!a15d | 7 |
| O | 36 | Exchange Rate | 12d | 8 |
| M | 50a | Ordering Customer | A, F, or K | 9 |
| O | 52A | Ordering Institution | [/1!a][/34x] 4!a2!a2!c[3!c] | 10 |
| O | 53a | Sender's Correspondent | A or B | 11 |
| O | 54A | Receiver's Correspondent | [/1!a][/34x] 4!a2!a2!c[3!c] | 12 |
| O | 55A | Third Reimbursement Institution | [/1!a][/34x] 4!a2!a2!c[3!c] | 13 |
| O | 56A | Intermediary Institution | [/1!a][/34x] 4!a2!a2!c[3!c] | 14 |
| O | 57A | Account With Institution | [/1!a][/34x] 4!a2!a2!c[3!c] | 15 |
| M | 59a | Beneficiary Customer | No letter option, A, or F | 16 |
| O | 70 | Remittance Information | 4*35x | 17 |
| M | 71A | Details of Charges | 3!a | 18 |
| -----> | ||||
| O | 71F | Sender's Charges | 3!a15d | 19 |
| -----| | ||||
| O | 71G | Receiver's Charges | 3!a15d | 20 |
| O | 72 | Sender to Receiver Information | 6*35x | 21 |
| O | 77B | Regulatory Reporting | 3*35x | 22 |
| M = Mandatory, O = Optional - Network Validated Rules may apply |
Differences between MT103 and MT103 STP
STP stands for Straight Through Processing (STP). Simply put, a STP is a processing performed end-to-end without human intervention. The MT103 STP has some restrictions. When you compare the specifications of both MT103 and MT103 STP, you see for example that in the MT103 STP, only the option A is allowed for Field 52 (Ordering Institution), Field 54 (Receiver’s correspondent), Field 57 (Account with institution), to name a few. In the classic MT103, the same fields have up to three options. Some options do not allow to process the MT103 in STP mode. In option A, the party identifier and the BIC are provided and this allow STP processing.
Back to the whole structure of a SWIFT message or Back to the payment messages page.
