| Field | Field Name | Description | |
| :20 | Transaction Reference Number | This reference number is generated by each bank in the payment chain. Usually, when you’re trying to track your payment or contact banks, you’ll need what’s called a Sender Link. This is the reference number assigned by the sender’s bank. UETR is more generic and is usually found in field 121 on the payment header. | |
| :23B | Bank Transaction Code | A four-character field to indicate the type of operation to which your instruction relates. Possible values: - CRED for a credit transfer without a SWIFT service level (the most popular value).
- SPAY for a credit transfer processed according to the SWIFT Pay service level;
- SSTD for a credit transfer processed according to the SWIFT Standard service level; and
- SPRI for a credit transfer processed according to the SWIFT Priority service level.
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| :32A | Value date / Currency / Interbank settlement settlement | Here is an example: 230726EUR1400. This means that the payment was sent on July 26, 2023. The currency is EUR, and the amount is 1400. Keep in mind that the date may be slightly different from the date when you made an order in the Internet Bank or visited a branch. If you made a payment order on Friday evening, it is likely that your payment will not be processed and sent via SWIFT until the following Monday. | |
| :33B | Currency / Amount Originally Ordered | If field 33B is present in the received message, it must be passed unchanged to the next bank. This field must be present when a currency conversion or exchange has been made on the sender’s side. If there are no sender or recipient fees, and there has been no currency conversion or exchange, field 32A corresponds to 33B, if present. | |
| :50A, F or K | Customer (Payer / Sender) | Option A: (Account) (ID Code) Option F: (Party ID) (Number/Name and Address) Option K: (Account) (Name and Address) The only thing you need to remember about this box is that you shouldn’t have any “famous” people with the same first and last name. Check open sanctions before sending an international payment. | |
| :52A or D | Ordering Bank (Payer’s/Sender’s Bank) | This is the bank (or other financial institution) that initiated the payment. Normally, it should contain the bank’s SWIFT/BIC code, but it can use option D and provide the name and address. For example, here’s how Wise does it when I send my payments to Montenegro: 52D:/6161645269
WISE PAYMENTS LIMITED
6TH FLOOR, TEA BUILDING,
56 SHORE STREET, LONDON E1 6JJ | |
| :53A, B or D | Sender’s Correspondent (Bank) | If applicable, this field indicates the Sender’s account or branch or other financial institution through which the Sender will reimburse the Recipient. The absence of this field implies that there is a unique accounting relationship between the Sender and the Recipient or that a bilaterally agreed account will be used for settlements. You can check the list of potential correspondent banks of the sender’s bank before ordering a payment. | |
| :54A, B or D | Beneficiary’s correspondent (Bank) | This field is used only in the cover method. If this field is present in MT103, it means that the MT202 form has been submitted in parallel to cover the payment. | |
| :56A, C or D | Intermediate Bank | It is the correspondent bank of the beneficiary’s bank in the sequential method. | |
| :57A, B, C or D | Institutional account (Beneficiary’s Bank) | This field contains information about the beneficiary’s bank (SWIFT / BIC code). If you have provided information about the beneficiary’s bank account with a correspondent bank, it will also be here. | |
| :59 or 59A | Recipient | Always use the full name of the recipient and include the address that the bank has on file for the recipient. If you are not sure, ask the recipient to double-check with their bank. There are times when the bank rejects a payment just because the address was incorrect. | |
| :70 | Transfer Information (Payment Information) | If you are transferring your funds between personal accounts, simply enter “TRANSFER YOUR OWN FUNDS”. If you are making a transfer in favor of family members, write “TRANSFER BETWEEN CLOSE RELATIVES”. If it’s a payment for something, try to explain briefly and simply: “RENT. CONTRACT No__, INVOICE No__”. If you’re transferring funds to a third party and it’s not an exchange of goods/services, it’s not a good thing in terms of bank compliance controls. For a small amount: “FINANCIAL AID” may be appropriate. | |
| :71A | Fee Details (BEN/OUR/SHA) | This field contains information about who pays for this transfer via SWIFT: BEN – The beneficiary will pay in full OUR – The sender pays SHA – Total Expenses (Wise in euros ships with this type and I always struggle – I pay on both sides). | |
| :72 | Information from the sender to the recipient | This field specifies additional information for the beneficiary’s bank or other specified party. Usually only for banks. | |
| :77B | Regulatory reporting | When it is necessary to determine the residence of the customer or the recipient’s client, one of the following codes in the Code placed between the slashes (‘/’) may be used: BENEFRES – Residence of the recipient ORDERRES – Sender’s residence. Example :77B:/ORDERRES/BE//MEILAAN 1, 9000 GHENT | |
