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The MT103/23 does NOT exist any longer.
If you are being asked to use it it is a joke.
MT103 is a NON-CONDITIONAL payment method.
You CANNOT add conditions to it because it would effect the "pass-through" of the MT103.
No bank will even accept it they just ignore it and pay the funds out as directed by the MT103 not the field 23 which is no longer in use.
If you are being offered an MT103/23 option I would advise you to run.
It is usually a sign that someone in the chain does not realise it is a scam or they hope that you do not as it used to be in use but not for this purpose.
Why request a format that is no longer used and would be ignored even if you tried.
Wiki User
∙ 11y ago
Wiki User
∙ 14y agoMT103 is the format banks use when they effect what is known to a layman as a wire transfer, cable transfer, telegraphic transfer or Swift transfer.
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Can MT103-23 be discounted?
Can MT103-23 be discounted?
What is MT103 and MT760?
MT103 and MT760 are international financial transaction code numbers. The code, MT103 SWIFT message is the most commonly used.
What is conditional MT103?
An MT103 is a SWIFT message sent to make a transfer of funds. It is commonly known as a 'wire transfer' because the payment is made electronically (over a wire). There is no 'conditional' to an MT103. It will happen and is, by definition, unconditional.
What is the meaning of MT103 in terms of payment?
MT103 is a Single Customer Payment between the two customer accounts across the banks. Its a cross border payments.
WHAT IS KTT MT103 AND HOW IS IT USED?
A client wants to transfer funds from one country to another via ktt mt103 followed by mt202 cash transfer. WHAT DOES THIS MEAN?
What is financial instrument in Banks?
MT103 is a payment order
What is form mt103 used for?
Telegraphic Transfer Form.
What mean KTT MT103?
meaning of KTT account
What is mt 103 bank instrument?
MT103 is a payment order
What is the difference between MT202 and MT103?
The MT103 is used to send remittance order to the bank of the payee. MT202 on the other hand is used to send position information on the remitting bank's corresponding .
What is KTT MT103?
MT103/23 is still TT (Tested Telex) but with condition to release money to your account, let say your buyer made MT103/23 and state that upon the presentation of POP or Invoice or BL, and that's it. It's not scam but you need to know what is that and what you have to deal with
What does MT103 in banking stand for?
MT 103 means Wire transfer, Cable transfer, telegraphic transfer of the funds from one account to another account with out any conditions.
