Swift Mt103?

Answer

A swift MT103 is a message to a customer showing the credit transfer for a single payment. It is an advanced version of the original MT100 message which had a wide range of options to describe exactly how the payment should be made. But the MT 103 is so flexible, thus it does not promote Straight through Processing and has been replaced by the MT103+ message.
1 Additional Answer
SWIFT, or the Society for the Worldwide Interbank Financial Telecommunication founded in Brussels in 1973, is a co-operative organisation that is dedicated to the promotion and development of standardized global interactivity for financial transactions. SWIFT MT103 is an improved version of the original MT100 customer credit transfer message, which is used to make a single payment. It has a large number of options that are to describe exactly how the payment should be made.
Q&A Related to "Swift Mt103?"
A swift is basically a closed private network which deals with banks, building societies, and other financial places. Mt means message type, and there are mt100-mt999. An example
http://www.webanswers.com/finance-investing/what-i...
MT103/23. "Field 23 - Instruction Code" is where the remitting bank (at the request of the remitter) puts in a simple code instructing the beneficiary's bank how to effect
http://wiki.answers.com/Q/What_is_a_Swift_MT_103_f...
What Is SWIFT? SWIFT stands for the "Society for Worldwide Interbank Financial Telecommunication." SWIFT is a network of over 8,300 banks, securities, and corporations located
http://www.ehow.com/how_5065903_swift-messaging.ht...
Can you send me the correct language to do a MT103. This my concern: I private company is issuing a documentary LC and are charging a fee, of which I am willing to pay,however they
http://answers.yahoo.com/question/index?qid=200801...
Explore this Topic
An MT103 is a type of message that is mainly used to transfer information regarding money. This information is transferred between customers situated in different ...
The MT103 is a SWIFT message format used for making payments. MT103 SWIFT payments are known as international wire transfers, telegraphic transfers, standard EU ...
SWIFT (society for worldwide interbank financial telecommunication) messaging is a network of about 8,300 banks corporations and securities that allows the exchange ...
About -  Privacy -  AskEraser  -  Careers -  Ask Blog -  Mobile -  Help -  Feedback © 2014 Ask.com