MT 103

An MT 103 is a standardised swift message type that is specifically used for a cash transfer from one bank to another anywhere in the world, provided they are a members of the Society for Worldwide Interbank Financial Telecommunications, (Swift). This type of cash transfer instruction is often referred to as a “Single Customer Credit Transfer”.

The swift MT103 is a globally recognised payment message and contains the necessary information such as amount, currency, sent date, value date, remittance information e.g. payment reference, ordering customer, beneficiary, sending bank, receiving bank and a swift reference number.

For a visual description of a MT103 please go to Format MT103

When an international payment transfer has been completed by the sending bank, an MT103 document is produced, and is a detailed confirmation of a swift payment. This will provide the sender and beneficiary with details of the payment and confirmation of the payment having been sent.

This document is often requested by the beneficiary if payment has not been received within three working days after confirmation of sending from the ordering customer.

• MT101 has been designed for corporates and allows for bulk payments.
• MT102 has been designed for multi payment instructions between banks and financial institutions.
• MT103 has been designed for a single customer credit transfer.