SWIFT for Corporates

SWIFT FIN Manual

July 2021
Table of Contents
1. INTRODUCTION 3
2. WHAT IS RABOBANK SWIFT FOR CORPORATES? 4
3. SETTING UP RABOBANK SWIFT FIN FOR USE 6
3.1 Requesting required components 6
3.2 Implementing SWIFT FIN 6
3.2.1 Testing the message format by MyStandards 6
3.2.2 Establishing the connection with Rabobank 7
3.2.3 Testing in acceptance environment and production environment 7
4. INITIATION VIA SWIFT FIN 8
4.1 General information 8
4.2 Initiation messages for corporates 8
4.2.1 MT101 8
4.3 Initiation for (Non-Banking) Financial Institutions 8
4.3.1 MT103 8
4.4 How does Rabobank check the payment orders you have submitted? 8
4.5 Checking for duplicates 9
5. SERVICE & SUPPORT 10
5.1 Product overview 10
5.2 Support Rabobank SWIFT for Corporates FIN 10

SWIFT for Corporates | Manual SWIFT FIN 2

1. Introduction
SWIFT (Society for Worldwide Interbank Financial Telecommunication) is established for the purpose
of exchanging financial messages between banks. The network SWIFT uses for this purpose – SWIFT-
Net – is a secure and reliable method for sending and receiving data. The main reasons for corpo-
rates, pension funds, banks and asset managers to connect to SWIFTNet are: standardisation, effi-
ciency, autonomy and security. The use of SWIFT requires limited maintenance or adjustments to
bank-specific electronic packages, processes or different formats. This makes Corporates and (Non-
Banking) Financial Institutions more bank-independent. The SWIFT message standards are used on a
global scale.

With Rabobank SWIFT for Corporates connection, Rabobank is offering a product for companies and
(Non-Banking) Financial Institutions that send and receive a limited number of secure transactions
on a regular basis. In order to establish a connection to Rabobank SWIFT for Corporates you must
first conclude a contract with SWIFT. More details can be found on www.swift.com/corporates.

Transaction initiation

•FIN: MT101, MT103

SWIFT Banks •FileAct: PAIN.001, PAIN.008
Initiation
Status information
•FIN: MT195, MT295
•FileAct: PAIN.002
Status – and
reporting Report information

•FIN: MT940, MT942

•FileAct: MT940S, CAMT.053, MT942S, CAMT.052
Diagram of Rabobank SWIFT for Corporates

SWIFT for Corporates | Manual SWIFT FIN 3

2. What is Rabobank SWIFT for Corporates?
Rabobank uses SWIFT SCORE for its Rabobank SWIFT for Corporates proposition. SCORE is the name
of a standard set of services and messages that SWIFT has established specifically for exchanging
messages between corporates and their banks. Rabobank offers two types of SWIFT services on its
network:
1. SWIFT FIN for sending stand-alone standard (MT) messages
SWIFT FIN is used for sending certain standard messages to corporates. Not all messages are
supported (see also table1). (Non-banking) financial institutions use specific messages for
the exchange with Rabobank (see also table 2).
2. SWIFT FileAct for sending files over the network
For the past few years SWIFT has provided the option to send files using SWIFTNet FileAct.
This functionality enables you to use all formats agreed upon between you and Rabobank.
With SWIFT FileAct, financial messages are placed in an envelope, as it were, and that enve-
lope is sent to the bank through SWIFTNet. The bank opens the envelope and processes the
payment order/file. Rabobank has a separate FileAct manual for this purpose that you can
download from www.rabobank.com/swift.

Table 1 gives an overview of the standard messages that corporates can exchange with Rabobank
with SWIFT FIN. It specifies which formats are available for each message type you can send with
SWIFT FIN.
Your account, as corporate, with Rabobank is the basis for the exchange of messages. A message
may be a payment order from this (these) account(s), or an account statement of credits and debits.

Product / Service SWIFT (FIN)

Euro Payment Order (SEPA)1 MT101

Euro Payment Order (Urgent) MT101
Euro Direct Debit Order (SEPA) X
Business Euro Direct Debit Order (SEPA) X
1
World Payment Order MT101
Status Report X
Reject message MT195
End-of-day Daily Statement MT940
Intra Day Accounting Report MT942
Table 1: SWIFT FIN overview for Corporates
1
Only immediate processing is available.

Table 2 gives an overview of the SWIFT FIN standard messages which (Non-Banking) Financial In-
stitutions can exclusively exchange with Rabobank. It specifies which formats are available for each
message type you can send with SWIFT FIN.

SWIFT for Corporates | Manual SWIFT FIN 4

 Product / Service SWIFT (FIN)

Euro Payment Order (SEPA) MT103

World Payment Order1 MT103
Payment Order only between two (non- MT202
banking) financial institutions
Reject message MT195/MT295
End-of-day Transaction Report MT940
Intra Day Transaction Report MT942
Table 2: SWIFT FIN overview for (non-banking) financial institutions

1
Only direct processing is possible.

SWIFT for Corporates | Manual SWIFT FIN 5

3. Setting up Rabobank SWIFT FIN for use
3.1 Requesting required components

The standard steps that you, as the client, must take in order to be able to send FIN messages to or
receive FIN messages from Rabobank using Rabobank SWIFT for Corporates are as follows:
1. Contract with SWIFT: to obtain authorization to use SWIFTNet, you must conclude a contract
with SWIFT, including agreements about the SWIFT service, rates and technical setup.
2. Connecting to SWIFT: arrangement for a technical connection of your financial administration
(ERP) system to SWIFTNet.
3. Contract with Rabobank: Rabobank concludes a contract with you stating that you will send
FIN messages through Rabobank SWIFT for Corporates and/or that Rabobank will send account
reporting to you.
Agreement regarding the formats to be processed or sent will be identified in the application
form. The orders will be processed and credited or debited to the account(s) your company
holds with Rabobank. On the Rabobank SWIFT for Corporates application form you can indicate
the specific SWIFT for Corporates components you would like to use. Examples include:
 SWIFT FIN and/or SWIFT FileAct (please refer to section 2)
 Rabobank accounts
 The type of payments and/or direct debits you will initiate
 The message type (MT messages/PAIN) you would like to send in
 The type of accounting information you would like to receive
It is important that you carefully coordinate the contents of this form with Rabobank. If you
need help filling in the form, please refer to the relevant explanatory notes, or ask your repre-
sentative at Rabobank for assistance.
4. Implementing SWIFT FIN: Once you have completed the above steps, we will initiate the pro-
cess with you to set up the connection with Rabobank. An RMA exchange of the encryption
key will take place. Please see paragraph 3.2.2.

A description of the file formats can be found on www.rabobank.com/swift. These pages contain
the format specifications you can currently use in the SWIFT channel. (Different) timelines have been
included where relevant.

3.2 Implementing SWIFT FIN

3.2.1 Testing the message format by MyStandards

Rabobank offers you the opportunity to verify the content of the message formats in the SWIFT tool
called MyStandards, before you start using the SWIFT for Corporates channel. Depending on the
agreements made, you can verify in this tool whether the MT101 and/or MT103 message meets the
Rabobank format requirements (Rabobank formats are basis SWIFT messages on which we applied
our restrictions c.q. conditions).
In MyStandards you upload your own message and select the applicable Rabobank format.
MyStandards will then automatically check your message on rule and field level on the guidelines of
the selected Rabobank format.

Logging in on your own testportal takes place by using a personal user account. You can download
the manual for setting up a user account from www.rabobank.com/swift via the header ‘Testservice
/ MyStandards’. More information about MyStandards is here to be found as well.

SWIFT for Corporates | Manual SWIFT FIN 6

 3.2.2 Establishing the connection with Rabobank

Subsequently Rabobank and you will establish the connection for the MT101 and/or MT103. For the
secure exchange of the messages, the RMA exchange is required. The purpose of the RMA ex-
change is to establish the encryption key between you and Rabobank. If you have a test BIC, then a
separate RMA procedure for this will be necessary.

3.2.3 Testing in acceptance environment and production environment

In this paragraph we specifiy which tests must take place before your production environment
SWIFT FIN will be made available to you.

Acceptance environment
We would first like to test the connection in the acceptance environment. In this case, you will send
message through the test connection1 with your test BIC. This enables you to check whether the
messages are sent correctly from you to Rabobank2.
Make arrangements with your Rabobank representative and/or your implementation specialist
when you will send a test message in the acceptance environment, so they can also check for you
whether the test has been succesful.

Production environment
Then you and Rabobank execute an acceptance test in the production environment. This test
proves that the chain within the production environment is functioning correctly. For the purpose
of this test you can send a message with a transaction of for instance €1.00 via SWIFT FIN with your
production BIC. Make arrangements with your Rabobank representative and implementation spe-
cialist on suitable dates for this test in the production environment.
During this acceptance test Rabobank validates the contents of the message. If the payment is not
accepted Rabobank will send you a reject message MT195 within 30 minutes. During this test you
can also collect or receive transaction information. Your contact person during the acceptance test
will give you the confirmation whether the test has been succesfull.

The successful completion of an acceptance test marks the end of the testing process and the tran-
sition can be made to sending FIN messages in production.

Rabobank will give you additional support during the first time you send in a message. Therefore it
is important that you make agreements about this with your Rabobank representative.
Rabobank emphasizes that testing during the acceptance test is not a guarantee for the operation
in production. You cannot derive any rights from the acceptance test. It is therefore advised is to
carry out a number of acceptance tests via your production environment

1
Sending a test message is possible on workdays 24 hours a day. On Saturdays, Sundays and Holidays it is not
possible to send test messages.
2
For testing of MT103 messages (and in certain cases also MT101 messages) in the acceptance environment:
you receive a NACK message within 15 minutes if the test is not succesfull. If the test is succesfull you will not
receive a message.

SWIFT for Corporates | Manual SWIFT FIN 7

4. Initiation via SWIFT FIN
4.1 General information

It is important to keep the following in mind when sending in payment orders:

 It is important to send payment orders before cut-off time. The cut-off times or
timeframes are based on the standard Rabobank cut-off times. The cut-off times for
sending payment orders can be found here.
 Payment orders sent through SWIFT FIN must be prepared in your own financial admin-
istration or ERP system.
 Payments may only be withdrawn if the payments have not yet been processed. Please
contact your Rabobank representative to withdraw a payment. If the payments have
been processed, we will handle the request for cancellation. Nevertheless we are de-
pendent upon the other party to be able to return the payment.
 Payment orders can be submitted 24/7, with the exception of Saturday 4 p.m. to Sun-
day 10 a.m.

The format descriptions of the Rabobank message types can be found on www.rabobank.com/swift.

4.2 Initiation messages for corporates

4.2.1 MT101

A MT101 is a request for payment sent by you as a corporate client to the Rabobank. This message
type is used to transfer amounts from your Rabobank account(s). You can use a MT101 to make do-
mestic and/or international payments to a third party. In addition, a MT101 can be used to transfer
amounts between your own Rabobank accounts.

4.3 Initiation for (Non-Banking) Financial Institutions

4.3.1 MT103

A MT103 is a message that is used in cross-border transactions for creditor payments. You may only
use these messages if your company is a (NonBanking) Financial Institution.

This message can be used for the following purposes:

- Euro payments in the Euro zone
- International payments in a currency other than the Euro and/or outside the Euro zone

The purpose of a MT103 is to instruct the Rabobank to transfer funds from your account to a different
account.

4.4 How does Rabobank check the payment orders you have submitted?

If you send in a MT101 or a MT103 message to Rabobank using SWIFT FIN, Rabobank has different
checkpoints in place to check the transaction.
Rabobank will only authorize and process a payment if it meets the requirements. The following
checkpoints will take place:
- Rabobank verifies that the format of the MT101 or MT103 message meets the specific Ra-
bobank formatting requirements.

SWIFT for Corporates | Manual SWIFT FIN 8

 - Rabobank verifies that the account to be debited is included in the SWIFT for Corporates
contract.
- Rabobank will add to the client’s name and address information or replace it based on the
information Rabobank has on file.
- Any payment order sent in a MT101 or MT103 that can be fully processed as a SEPA pay-
ment, will be processed as a SEPA CT order.

If the message fails to meet one or more of these checks, the message will be rejected. If it concerns
a rejected MT101 or a MT103, you will receive a MT195. Please note: this is only possible if your mes-
sages are set up according to the current format descriptions, available on www.ra-
bobank.com/swift. If this is not the case, your Rabobank representative will contact you.

4.5 Checking for duplicates

The Rabobank wishes to prevent duplicate payments at all times. One of the measures is to check
for duplicates. This measure checks whether a MT101 or MT103 has already been sent to Rabobank
previously. We perform this check regardless of any PDEs (Possible Duplicate Emission) or PDMs (Pos-
sible Duplicate Message) in the message. We compare the following fields with previous payment
orders:
- The contents of field 20
- The BIC used for delivering the message
- The order type (MT101, MT103)

If Rabobank rejects a MT101 or MT103 message for any reason, the procedure mentioned in para-
graph 4.4 will be followed. If you have corrected the payment order, you must send it with a differ-
ent, unique reference value in field 20.
This prevents the Rabobank from seeing the new order as a duplicate, thus rejecting it. The refer-
ence value that you include in a payment order ensures that it is recognized as a new order. It also
enables Rabobank to refer to the right message in case a message is rejected or if there is a problem.

SWIFT for Corporates | Manual SWIFT FIN 9

5. Service & support
5.1 Product overview

It is possible to request a product overview for additional insight into your product settings. If you
wish to receive this product overview you can request this via your contact person at Rabobank.

The product overview is a PDF file containing the following data:

 Company name and address information
 Contact information
 Contract information
 Account information
o Products
o Charge account

5.2 Support Rabobank SWIFT for Corporates FIN

Once you have successfully implemented Rabobank SWIFT for Corporates, you can contact the
Rabo Corporate Support Desk for any questions you might have and for troubleshooting.

Support Desk: Rabo Corporate Support

Open: Monday to Friday from 8:00 to 17:30 CET
Telephone: +31 (0)30-712 1777
E-mail: corporatesupport@rabobank.com
Website: www.rabobank.com/swift

Please note that we will require the following information from you in order to deal with your ques-
tion appropriately:
 Your details: Business name or other reference
 The question/problem
 Information about the relevant download/upload, such as the date, time, and
file name

SWIFT for Corporates | Manual SWIFT FIN 10

SWIFT for Corporates | Manual SWIFT FIN 11
 Appendix 1: change log

Version Change Reason

Oktober 2019 Textual corrections Adjustment

Remove OBOP and a part of MT2..-serie and MT9..-serie Addition
July 2020 Adjustments regarding acceptance environment Adjustment
November 2020 Textual corrections, update hyperlinks Adjustment
July 2021 Updated contact information for support Addition

SWIFT for Corporates | Manual SWIFT FIN 12