:50K::Ordering customer Use this field to identify, in a maximum of four lines of 35 characters, the name and address of the customer (i.e. not a financial institution) that initiated the transaction.

What is an MT103 SWIFT message?

An MT103 is a standardised SWIFT payment message used specifically for cross border/international wire transfers. MT103s are globally accepted as proofs of payment and include all payment details such as date, amount, currency, sender and recipient.

What is Field 50K in SWIFT?

Use of field 50a, Ordering Customer Only Field 50a is to be used for ordering customer information. Ordering customer information should not be included in Fields 20, 52a, 70 or 72. If the account number of the ordering customer is present, it must be stated in the account line, preceded by a slash.

What does a SWIFT MT 103 field mean?

The MT 103 typically means a wire transfer is about to be made as a form of payment. What is Mt’s103 SWIFT? SWIFT MT-103 is a form of SWIFT Communication.

What does tag 52d mean in MT103 Swift?

This indicates that Sender and Beneficiary customer ’s Bank do not have direct account relationship in the currency of the transaction (USD). Otherwise the sender would send the message directly to the beneficiary customer ’s Bank. The ordering institution (Tag 52D) is provided in the MT103 SWIFT Message.

Who is the ordering institution in MT103 SWIFT message?

The ordering institution (Tag 52D) is provided in the MT103 SWIFT Message. This means the ordering customer is not customer of the Sender. BNPAFRPP sends the MT103 on behalf of the ordering institution 52D:BANQUE DELUBAC ET CIE.

What do the fields in a MT103 message mean?

MT103 is a SWIFT payment message type/format used for cash transfer specifically for cross border/international wire transfer. MT103 fields Below are the fields of an MT103 message. These fields are referred to as tags.