What does USE SENDERS CORRESPONDENT FOR RECEIVER in mt 202 mean?

Answer 1

In the context of MT 202 messages, "USE SENDERS CORRESPONDENT FOR RECEIVER" indicates that the sender of the message should utilize their correspondent bank to facilitate the transaction for the receiver's bank. This means that the sender's bank will act as an intermediary to process the payment to the receiver's bank, ensuring that the funds are routed correctly. This instruction is often used in cross-border transactions where direct relationships between banks may not exist.