Types of MT103
This is an extract from the SWIFT UHB, describing the scope of an MT103. The only three variations are MT103 (general use), MT103+ (straight through processing) and MT103 Extended Remittance.
Does an MT103 23 exist?
No, do not be fooled - MT103 23 does NOT exist. Field 23 is a field with the message type itself.
MT 103 Scope
This message type is sent by or on behalf of the financial institution of the ordering customer,
directly or through (a) correspondent(s), to the financial institution of the beneficiary customer.
It is used to convey a funds transfer instruction in which the ordering customer or the
beneficiary customer, or both, are non-financial institutions from the perspective of the Sender.
This message may only be used for clean payment instructions. It must not be used to advise the
remitting bank of a payment for a clean, eg, cheque, collection, nor to provide the cover for a
transaction whose completion was advised separately, eg, via an MT 400.