What is difference between MT101 and MT104 Swift message?

Answer 1

Oh, dude, MT101 and MT104 Swift messages are like distant cousins at a family reunion. MT101 is a request for a transfer, kinda like asking your friend to spot you some cash. MT104, on the other hand, is a confirmation of a payment, like when your buddy finally pays you back. So, one's the ask, and the other's the "thanks, finally!"

Answer 2

Well, darling, the MT101 is used for requesting a payment whereas the MT104 is used for requesting a direct debit. It's like asking for money with one and asking to take money with the other. Simple as that, sugar.

Answer 3

The MT101 Swift message is used for requesting the transfer of funds from one account to another, typically for customer credit transfers. On the other hand, the MT104 Swift message is used for requesting the transfer of funds from one financial institution to another, often for interbank transfers. The key distinction lies in the purpose and scope of the transactions, with the MT101 being customer-focused and the MT104 being institution-focused in nature.

Answer 4

MT 101 -- Credit Transfer

MT 104 -- Debit Transfer