Tag Archives | Cover payment

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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Cover Payment - MT103 Single Customer Credit Transfer

SWIFT Serial and Cover payments

SWIFT Serial and Cover payments originate from the two methods that are used to settle transactions in correspondent banking : Serial method and Cover method. What are these two methods and how do they work? In this article, we will first describe shortly how each of the methods works and then we will make a […]

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