Single Customer Credit Transfer (MT 103)

EXAMPLE:

Bank Austria sends the following message to ABN Amro Bank: 1.) A customer transfer to ABN Amro Bank, Amsterdam.

MT 103:

This message type is sent by or on behalf of the financial institution of the ordering customer, directly or through (a) correspondent(s), to the financial institution of the beneficiary customer.

It is used to convey a funds transfer instruction in which the ordering customer or the beneficiary customer, or both, are non-financial institutions from the perspective of the Sender.

This message may only be used for clean payment instructions. It must not be used to advise the remitting bank of a payment for a clean, for example, cheque, or collection, nor to provide the cover for a transaction whose completion was advised separately, for example, via an MT 400.