An MT103 is a standardized SWIFT (Society for Worldwide Interbank Financial Telecommunication) payment message used specifically for cross-border or international wire transfers. It is a globally-accepted proof of payment that includes all the necessary payment details like payment date, amount, currency, sender, and recipient.
The MT103 confirms that the payment was sent. It is the only proof of payment impact.com can provide. As the beneficiary of the payment, you can take the MT103 information to your bank, which will need to utilize the provided information to assist them with locating your funds.
See the MT103 format section below for a breakdown of the information found in an MT103.
Line | Description | Example |
|---|---|---|
20 | Transaction reference number |
|
23B | Bank operation code |
|
32A | Value date & currency & amount |
|
33B | Currency & original ordered amount |
|
50A, F or K | Paying customer - Name & Address |
|
52A or D | Ordering bank |
|
53A, B or D | Sender's correspondent bank |
|
54A, B or D | Receiver's correspondent bank |
|
56A, C or D | Intermediary (bank) |
|
57A, B, C or D | Account with Institution (your bank) |
|
59 or 59A | Beneficiary Customer - 4x35 |
|
70 | Remittance information | |
71A | Details of charges (OUR/SHA/BEN) |
|
72 | Sender to receiver information |
|
77B | Regulatory reporting |
|