The MT103 SWIFT message with optional fields 52a (Ordering institution) and 57a (Account with institution) is

presented and analyzed in this article. In previous articles, the basic MT103 SWIFT message with mandatory
fields and the MT103 SWIFT Message with optional fields 53B, 70 and 71G were considered. Read them to get
additional information and a better understanding of the MT103 SWIFT Message.

The picture below shows the main actors and highlights the optional fields transported in the messages.

MT103 SWIFT Message with fields 52a and 57a

The table below contains information that is highlighted in the examples provided in the SWIFT Message
Reference Guide. An additionl column (comments) provides further explanation on the fields to ease their
understanding.

Explanation Format Comments

The Sender BIC appears in header block (Block 1) in the MT103 Input
Sender BNPAFRPP
and in the application block (Block 2) in the MT103 Output.

Message type 103 The message type is the second field of the block 2.

The Receiver BIC appears in header block (Block 1) in the MT103 Output
Receiver PNBPUS3N
and in the application block (Block 2) in the MT103 Input.

121:b03c6901-bbed-
Unique End-to-end This reference is provided in the user block (Block 3) and transported
4aa9-afdh-
Transaction Reference ened-to-end
a5bc26d19257

This introduces the Text block (block 4). All the fields below are in the
Message text
text block of the MT103 message.

It is mandatory and of format 16x. Note that / belongs to the allowed

Sender's reference :20:739562BNPREF
charaters.

Bank operation code :23B:CRED It is mandatory and of format 4!c.

Value
It is mandatory and of format

date/currency/interbank :32A:180816USD2350,
6!n3!a15d (Date)(Currency)(Amount)
settled amount

:50F:/01234567890

Ordering customer information is mandatory and can be provided in

1/COMPANY NAME
three different formats according to the options A, F and K. Option F is
SAS

Ordering customer chosen in this case with format:

2/RUE DENIS PAPIN,

35x (Party Identifier)

28

4*(1!n/33x) (Number/Name and Address)

3/FR/CRETEIL

:52D:BANQUE
Ordering institution is optional and can be provided in two options A
DELUBAC ET CIE

(usual) and D (less common). Option D, is chosen here:

Ordering institution 16 PL SALEON

[/1!a][/34x] (Party Identifier)

TERRAS

4*35x (Name and Address)

07160 LE CHEYLARD
 Account with institution is optional and can be provided in option A, B, C
or D. Option A, chosen here, is used most of the time in practice:

Account with institution :57A:OCBCSGSG

[/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)

:59F:/840735-592

Beneficiary customer information is mandatory and can be provided in

1/RTP Company

three different formats: No letter option, Option A and Option F. Option F

2/3 Tuas South Street
Beneficiary customer is chosen in this case with format:

[/34x] (Account)

3/SG/Singapore
4*(1!n/33x) (Number/Name and Address)
638045

:70:SUMMER 2018
Remittance information is optional and provided in format 4*35x if
Remittance information DELIVERY

available. Up to 4 lines of up to 35 X characters each.

/INV/6535682524

It is mandatory and of format 3!a. It can take 3 values: BEN, OUR and
Details of charges :71A:SHA SHA. SHA means charges are shared between Ordering and beneficiary
customers.

End of message text/trailer

Read this page on the SWIFT formatting rules and Character sets of MT Messages to get additional information
and understand what 16x, 4!c and the format of the field options mean.

Narratives and notes on this MT103 SWIFT Message

As usual, there is more in this MT103 SWIFT message than meets the eye. The following narrative and notes
allow to get a deeper understanding of the message content.

Narrative and note 1 (Main purpose of this MT103 SWIFT message)

The Sender (BNPAFRPP) is asking Receiver (PNBPUS3N) to debit sender’s account and credit the account of
the Bank (OCBCSGSG) indicated in tag 57A.

This indicates that Sender and Beneficiary customer’s Bank do not have direct account relationship in the
currency of the transaction (USD).  Otherwise the sender would send the message directly to the beneficiary
customer’s Bank.

Narrative and note 2

The ordering institution (Tag 52D) is provided in the MT103 SWIFT Message. This means the ordering customer
is not customer of the Sender. BNPAFRPP sends the MT103 on behalf of the ordering institution 52D:BANQUE
DELUBAC ET CIE.

BANQUE DELUBAC ET CIE is a small bank that has an agreement with a major bank (BNP PARIBAS) for the
processing and settlement of currency transactions. BANQUE DELUBAC ET CIE can then use the
correspondent network of BNP PARIBAS.

Narrative and note 3 (Account relationships)

 Sender (BNPAFRPP) has an account relationship with Receiver (PNBPUS3N) in USD currency.

Receiver (PNBPUS3N) is correspondent of both sender (BNPAFRPP) and Beneficiary Bank

(57A:OCBCSGSG) in USD currency. PNBPUS3N can debit BNPAFRPP account and credit OCBCSGSG
account.

Ordering Customer account (:50F:/01234567890) is opened with Ordering Institution (52D:BANQUE

DELUBAC ET CIE).

Narrative and note 4

Details of charges (Tag 71A) is SHA. The charges are shared between Ordering and beneficiary customers. 
Sender pays charges to the ordering bank. Beneficiary pays charges to the receiving bank.

It is always interesting to see how much can be said about an MT103 SWIFT message like this one. But the
message has not reached the final destination yet (57A:OCBCSGSG). The receiver (PNBPUS3N) must forward
it to the beneficiary’s bank. What are the differences between this message and the next one (that PNBPUS3N
will forward to OCBCSGSG)? What does that message contain and what are the meaning of the different
message elements? These questions will be answered in the next article.