Check this:
http://www.swift.com/solutions/by_customer/corporates/score/SW4CORP_MT_MIGRATIONGUIDE_20090122_v1.0.pdf
MT103 and MT760 are international financial transaction code numbers. The code, MT103 SWIFT message is the most commonly used.
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!"
What is the difference between tan number and swift bic ?
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.
A SWIFT MESSAGE TYPE 103 IS A INTERBANK MESSAGE USED BETWEEN TWO BANKS TO TRANSMIT THE VALUE OF A BOND ENGAGING BOTH BANKS
A SWIFT MESSAGE TYPE 103 IS A INTERBANK MESSAGE USED BETWEEN TWO BANKS TO TRANSMIT THE VALUE OF A BOND ENGAGING BOTH BANKS
MT940 and MT103 are both message types used in the SWIFT financial messaging system. MT940 is a structured format for bank account statements, providing detailed transaction information for account reconciliation, while MT103 is used for individual customer credit transfers, detailing the payment instructions between banks. The link between them lies in their roles in the banking process: MT940 can be used to reconcile the transactions initiated by MT103 payments, helping banks and businesses track and manage their cash flows effectively.
The MT101 is a SWIFT message type used for issuing a request for a financial institution to make a payment on behalf of the sender. It contains instructions for the recipient bank to process the payment, including details such as the amount, currency, beneficiary details, and purpose of the payment. The recipient bank will then use this information to execute the payment according to the instructions provided in the MT101 message.
71F seems to reflect "Sender's charges" on an MT103, being a SWIFT Transfer Payment
I don't think an MT301 exists. An MT300 is an FX Confirmation and an MT103 is a confirmation for making a payment.
for further credit - instruction to a receiving bank to pay the funds to secondary beneficiary
An MT103 is a type of SWIFT message used in international money transfers to instruct a bank to debit the account of the sender and credit the account of the recipient. The actual transfer of funds occurs through the correspondent banking network. The MT103 serves as a payment instruction, not a transfer of money itself.