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 […]
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 […]
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 […]
The MT103 SWIFT message with optional fields 52a (Ordering institution) and 57a (Account with institution) was introduced in the previous article. We saw that many intermediaries are involved in the processing of that message. But the message was still on the way and has not reached his final destination yet. In this article, we will […]
The MT103 SWIFT message with optional fields 52a (Ordering institution) and 57a (Account with institution) is presented and analyzed in this article. In previous articles, the basic MT103 SWIFT message with mandatory fields and the MT103 SWIFT Message with optional fields 53B, 70 and 71G were considered. Read them to get additional information and a […]
We analyzed the basic SWIFT MT103 message in the previous article. That message contained only mandatory fields. Many optional fields exist in the MT 103 Format Specifications. In this article, we will look at SWIFT MT103 message example with optional fields: The field 53a with option B, the field 70 and the field 71G. The picture […]
After going through the four key strategies to understand how cross border payments work, we can now take a closer look at the SWIFT MT messages. We will start with a basic SWIFT MT103 message. It is a message used in the case where sender and receiver have a direct account relationship. Only mandatory fields […]