SWIFTStandards
Comparison Table pacs.008.001.01 FIToFICustomerCreditTransferV01 MT 103 Core Single Customer Credit Transfer Fedwire Customer Transfer (CTR) CHIPS Non-Bank Transfer The SWIFTStandards Comparison Table provides an overview of the semantic equivalence between the ISO pacs.008.001.01, SWIFT MT 103, Fedwire Customer Transfer and CHIPS Non-Bank Transfer message standards.
17 April 2008 Related documentation • SWIFT User Handbook, SWIFTStandards MT, relevant Message Reference Guides • UNIFI (ISO 20022) Message Definition Report - Payments Standards - Clearing and Settlement and related XML schemas and instances The latest version of the SWIFT Message Reference Guides is available at www.swift.com. The latest version of the UNIFI documentation is published on the www.iso20022.org website.
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SWIFTStandards Translation Rules A
B
C D E pacs.008.001.01 FIToFICustomer 1 CreditTransferV01 2 GroupHeader MessageIdentification 3 4 CreationDateTime 5 BatchBooking NumberOfTransactions 6 7 ControlSum TotalInterbankSettlementAmou nt
8 InterbankSettlementDate
Translation Rules F MT 103 Core Single Customer Credit Transfer
H CHIPS Non-Bank
:20: Sender's Reference -
{1520} IMAD -
[320] Send Participant Reference -
:32A: Value Date/Currency/Interbank Settled Amount
{2000} Amount
[260] Amount
Currency USD implicit
Currency USD implicit
{1520} IMAD
[201] Identification Tag
First 8 characters
Element 2: Value Date
-
-
-
-
-
-
-
-
Subfield 2: Currency Subfield 3: Interbank Settled Amount :32A: Value Date/Currency/Interbank Settled Amount
9 10 SettlementInformation 11 SettlementMethod 12 CLRG 13 COVE 14 INDA 15 INGA SettlementAccount
Subfield 1: Value Date
16
Subfield 1: PartyIdentifier -
ClearingSystem
G Fedwire CTR
:53a: Option B Sender's Correspondent
17 InstructingReimbursementA :53a: Option A, B or D gent Sender's Correspondent
18
19
Subfield 2: BIC, Location or Name&Address InstructingReimbursementA :53a: Option A, B or D gentAccount Sender's Correspondent
I Comment
MT 103 and Fedwire/CHIPS CTR are single transaction messages. With NumberOfTransactions equal to 1, TotalInterbankSettlementAmount is equal to the InterbankSettlementAmount.
The MT 103 allows for all settlement methods (albeit implicit). For CHIPS and Fedwire, the settlement method is CLRG.
The message is sent across the Fedwire or CHIPS system, so transparent.
Subfield 1: PartyIdentifier
MX pacs.008.001.01 FIToFICustomerCreditTransferV01 to MT 103 Core Single Customer Credit Transfer
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SWIFTStandards Translation Rules A
1
20
21
22
B
C D E F pacs.008.001.01 MT 103 Core FIToFICustomer Single Customer CreditTransferV01 Credit Transfer InstructedReimbursementA :54a: Option A, B or D Receiver's Correspondent gent
-
-
-
-
-
-
-
-
-
:23E: Instruction Code
-
-
-
-
Default for Fedwire as RTGS system
-
-
Default for CHIPS as RTNS system -
Subfield 2: BIC, Location or Name&Address ThirdReimbursementAgent :55a: Option A, B or D Third Reimbursement Institution Account
35 RTNS LocalInstrument
I Comment
Subfield 1: PartyIdentifier
Subfield 1: Instruction = SDVA //RT in Subfield 1 of first party field present (:56a: Intermediary Institution or :57a: Account With Institution) -
36 37 38
H CHIPS Non-Bank
-
Subfield 1: PartyIdentifier ThirdReimbursementAgent :55a: Option A, B or D Third Reimbursement Institution
Proprietary ClearingChannel BOOK MPNS RTGS
G Fedwire CTR
-
Subfield 2: BIC, Location or Name&Address InstructedReimbursementA :54a: Option A, B or D Receiver's Correspondent gentAccount
23 24 PaymentTypeInformation 25 InstructionPriority 26 ServiceLevel 27 Code 28 PRPT 29 SEPA SDVA
30 31 32 33 34
Translation Rules
-
{3600} Business Function Code
CategoryPurpose
MX pacs.008.001.01 FIToFICustomerCreditTransferV01 to MT 103 Core Single Customer Credit Transfer
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SWIFTStandards Translation Rules A
1
B
C D pacs.008.001.01 FIToFICustomer CreditTransferV01 INTC
39 CORT
40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56
E
Translation Rules F MT 103 Core Single Customer Credit Transfer :23E: Instruction Code Subfield 1: Instruction = INTC :23E: Instruction Code
CASH DIVI GOVT HEDG INTE LOAN PENS SALA SECU SSBE SUPP TAXS TRAD TREA VATX WHLD InstructingAgent
Subfield 1: Instruction = CORT MT Sender
InstructedAgent
MT Receiver
G Fedwire CTR
H CHIPS Non-Bank
-
-
-
-
{3100} Sender FI
[201] Identification Tag
{3400} Receiver FI
Element 3: Send Participant [211] Disposition Tag
57
58 59 CreditTransferTransactionInformation 60 PaymentIdentification InstructionIdentification :20: 61 Sender's Reference EndToEndIdentification :70: Remittance Information
{3320} Sender Reference Number {4320} Reference for Beneficiary
[320] Send Participant Reference -
62 63
-
-
TransactionIdentification
Code: ROC -
MX pacs.008.001.01 FIToFICustomerCreditTransferV01 to MT 103 Core Single Customer Credit Transfer
I Comment
Element 1: Receive Participant
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SWIFTStandards Translation Rules A
1 64 65 66 67 68 69
70 71 72 73 74
B
C D pacs.008.001.01 FIToFICustomer CreditTransferV01 PaymentTypeInformation InstructionPriority ServiceLevel Code PRPT SEPA SDVA
Proprietary ClearingChannel BOOK MPNS RTGS
75 RTNS
Translation Rules
E
F MT 103 Core Single Customer Credit Transfer
G Fedwire CTR
-
-
-
:23E: Instruction Code
-
-
-
-
Default for Fedwire as RTGS system
-
-
Default for CHIPS as RTNS system -
Subfield 1: Instruction = SDVA //RT in Subfield 1 of first party field present (:56a: Intermediary Institution or :57a: Account With Institution) -
76 LocalInstrument 77 78
CategoryPurpose INTC
79 CORT
80 81 82 83 84 85 86 87 88 89 90
CASH DIVI GOVT HEDG INTE LOAN PENS SALA SECU SSBE
H CHIPS Non-Bank
-
{3600} Business Function Code
:23E: Instruction Code
-
-
-
-
-
-
Subfield 1: Instruction = INTC :23E: Instruction Code Subfield 1: Instruction = CORT -
MX pacs.008.001.01 FIToFICustomerCreditTransferV01 to MT 103 Core Single Customer Credit Transfer
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I Comment
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SWIFTStandards Translation Rules A
1 91 92 93 94 95 96
B
C D E pacs.008.001.01 FIToFICustomer CreditTransferV01 SUPP TAXS TRAD TREA VATX WHLD InterbankSettlementAmount
97 InterbankSettlementDate
Translation Rules F MT 103 Core Single Customer Credit Transfer :32A: Value Date/Currency/Interbank Settled Amount Subfield 2: Currency Subfield 3: Interbank Settled Amount :32A: Value Date/Currency/Interbank Settled Amount
G Fedwire CTR
H CHIPS Non-Bank
{2000} Amount
[260] Amount
Currency USD implicit
Currency USD implicit
{1520} IMAD
[201] Identification Tag
First 8 characters
Element 2: Value Date
-
-
-
-
-
-
{3710} Instructed Amount
[301] Charges Information
I Comment
Subfield 1: Value Date 98 99 SettlementTimeIndication DebitDateTime
100 CreditDateTime
101 102 SettlementTimeRequest CLSTime
103 104 AcceptanceDateTime 105 PoolingAdjustmentDate InstructedAmount
:13C: Time Indication Code: SNDTIME :13C: Time Indication Code: RNCTIME :13C: Time Indication Code: CLSTIME :33B: Currency/Instructed Amount
106
MX pacs.008.001.01 FIToFICustomerCreditTransferV01 to MT 103 Core Single Customer Credit Transfer
Element 2: Instructed Amount
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SWIFTStandards Translation Rules A
B
C D pacs.008.001.01 FIToFICustomer 1 CreditTransferV01 ExchangeRate
Translation Rules
E
F MT 103 Core Single Customer Credit Transfer :36: Exchange Rate
G Fedwire CTR
{3720} Exchange Rate
107 108 ChargeBearer
H CHIPS Non-Bank
I Comment
[301] Charges Information Element 3: Exchange Rate
DEBT
109 CRED
:71A: Details of Charges
-
-
Code: OUR :71A: Details of Charges
{3700} Charges
[301] Charges Information
Code: BEN
Details of Charges: B
:71A: Details of Charges
{3700} Charges
Element 1: Details of Charges (Code = 1) [301] Charges Information
Code: SHA
Details of Charges: S
-
-
110 SHAR
111 112 SLEV 113 ChargesInformation ChargesAmount
:71F: {3700} Sender's Charges Charges (:71A: with code "BEN" or "SHA") Currency Code or Sender's Charges
Element 1: Details of Charges (Code = 2) [301] Charges Information Element 4, 6, 8 or 10: Sending Charges
:71G: Receiver's Charges (:71A: with code "OUR") 114 ChargesParty
-
-
-
:72: Sender to Receiver Information
{5200} Instructing FI
[520] or [522] Instructing Bank
115 PreviousInstructingAgent
116
In the MT 103, Fedwire and CHIPS CTR the financial institution that has taken charges or to which charges are due is implicit to the payment chain and can within certain limits be understood from that payment chain.
Code: INS
MX pacs.008.001.01 FIToFICustomerCreditTransferV01 to MT 103 Core Single Customer Credit Transfer
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SWIFTStandards Translation Rules A
B
Translation Rules
C D E pacs.008.001.01 FIToFICustomer 1 CreditTransferV01 PreviousInstructingAgentAcco unt
F MT 103 Core Single Customer Credit Transfer
117
G Fedwire CTR
{5200} Instructing FI
[522] Instructing Bank
ID-Code: D {3100} Sender FI
ID-Code: D [201] Identification Tag
InstructingAgent
MT Sender
InstructedAgent
MT Receiver
{3400} Receiver FI
Element 3: Send Participant [211] Disposition Tag
IntermediaryAgent1
:56a: Option A, B, C or D Intermediary Institution
{4000} Intermediary FI
Element 1: Receive Participant [400] or [401] or [402] Intermediary Bank
Subfield 2: BIC, Location or Name&Address :56a: Option A, B, C or D Intermediary Institution
{4000} Intermediary FI
[402] Intermediary Bank
Subfield 1: PartyIdentifier :50a: Option A, F or K Ordering Customer
ID-Code: D or U {5000} Originator
ID-Code: D or U [500] or [502] Originator Information
Subfield 2: BICBEI or Name&Address :50a: Option A, F or K Ordering Customer
{5000} Originator
[502] Originator Information
Subfield 1: Account :52a: Option A or D Ordering Institution
ID-Code: D, T or U {5100} Originator's FI
ID-Code: D [510] or [512] Originator's Bank
118
119
120 IntermediaryAgent1Account
121 122 123 124 125 126 127
H CHIPS Non-Bank
IntermediaryAgent2 IntermediaryAgent2Account IntermediaryAgent3 IntermediaryAgent3Account UltimateDebtor InitiatingParty Debtor
128 DebtorAccount
129 DebtorAgent
I Comment
Subfield 2: BIC or Name&Address 130
MX pacs.008.001.01 FIToFICustomerCreditTransferV01 to MT 103 Core Single Customer Credit Transfer
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SWIFTStandards Translation Rules A
B
C D pacs.008.001.01 FIToFICustomer 1 CreditTransferV01 DebtorAgentAccount
131 CreditorAgent
132 CreditorAgentAccount
133 Creditor
134 CreditorAccount
135 136 UltimateCreditor 137 InstructionForCreditorAgent 138 Code CHQB
E
Translation Rules F MT 103 Core Single Customer Credit Transfer :52a: Option A or D Ordering Institution
G Fedwire CTR
H CHIPS Non-Bank
{5100} Originator's FI
[512] Originator's Bank
Subfield 1: PartyIdentifier :57a: Option A, B, C or D Account With Institution
ID-Code: D or U {4100} Beneficiary's FI
ID-Code: D or U [410] or [411] or [412] Beneficiary's Bank
Subfield 2: BIC, Location or Name&Address :57a: Option A, B, C or D Account With Institution
{4100} Beneficiary's FI
[412] Beneficiary's Bank
Subfield 1: PartyIdentifier :59a: Option A or No letter Beneficiary Customer
ID-Code: D or U {4200} Beneficiary
ID-Code: D or U [420] or [421] or [422] Beneficiary Information
Subfield 2: BICBEI or Name&Address :59a: Option A or No letter Beneficiary Customer
{4200} Beneficiary
[422] Beneficiary Information
Subfield 1: Account -
ID-Code: D, T or U -
ID-Code: D, T or U -
:23E: Instruction Code
{6420} [641] Method of Payment to Beneficiary Beneficiary Advice Information
Subfield 1: Instruction = CHQB
Method of Payment Code: CHECK
Advice Code: Q
:23E: Instruction Code
{6410} Beneficiary Advice Information
[641] Beneficiary Advice Information
Subfield 1: Instruction = HOLD :23E: Instruction Code
Advice Code: HLD {6410} Beneficiary Advice Information
Advice Code: H [641] Beneficiary Advice Information
Subfield 1: Instruction = PHOB
Advice Code: PHN
Advice Code: P
I Comment
139 HOLD
140 PHOB
141
MX pacs.008.001.01 FIToFICustomerCreditTransferV01 to MT 103 Core Single Customer Credit Transfer
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SWIFTStandards Translation Rules A
1
B
C D pacs.008.001.01 FIToFICustomer CreditTransferV01 TELB
142 InstructionInformation
E
Translation Rules F MT 103 Core Single Customer Credit Transfer
G Fedwire CTR
H CHIPS Non-Bank
:23E: Instruction Code
{6410} Beneficiary Advice Information
[641] Beneficiary Advice Information
Subfield 1: Instruction = TELB :23E: Instruction Code
Advice Code: LTR, TLX or WRE {6410} Beneficiary Advice Information
Advice Code: C [641] Beneficiary Advice Information
I Comment
Subfield 2: Additional Information Advice Information (and Advice Advice Information (and Advice (and Subfield 1: Instruction is Code = CHECK, HLD, PHN, LTR, Code = Q, H, P or C) "HOLD", ''PHOB'' or "TELB") TLX or WRE) 143 :72: Sender to Receiver Information 144 145 InstructionForNextAgent 146 Code PHOA
[640] Beneficiary's Bank Advice Information
Code: ACC
:23E: Instruction Code Subfield 1: Instruction = PHOI 147 :23E: Instruction Code Subfield 1: Instruction = PHON 148 TELA
{6400} Beneficiary's Information
:23E: Instruction Code Subfield 1: Instruction = TELI
149 :23E: Instruction Code Subfield 1: Instruction = TELE 150
MX pacs.008.001.01 FIToFICustomerCreditTransferV01 to MT 103 Core Single Customer Credit Transfer
{6210} [621] Intermediary FI Advice Information Intermediary Bank Advice Information Advice Code: PHN Advice Code: P {6310} [631] Beneficiary's FI Advice Information Beneficiary's Bank Advice Information Advice Code: PHN Advice Code: P {6210} [621] Intermediary FI Advice Information Intermediary Bank Advice Information Advice Code: LTR, TLX or WRE Advice Code: C {6310} [631] Beneficiary's FI Advice Information Beneficiary's Bank Advice Information Advice Code: LTR, TLX or WRE Advice Code: C
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SWIFTStandards Translation Rules A
1
B
C D pacs.008.001.01 FIToFICustomer CreditTransferV01 InstructionInformation
E
151
152
Translation Rules F MT 103 Core Single Customer Credit Transfer
H CHIPS Non-Bank
I Comment
:23E: Instruction Code
{6210} [621] Intermediary FI Advice Information Intermediary Bank Advice Information Subfield 2: Additional Information Advice Information (and Advice (and Subfield 1: Instruction is Code = PHN, LTR, TLX or WRE) Advice Information (and Advice "PHOI" or "TELI") Code = P or C) :23E: {6310} [631] Instruction Code Beneficiary's FI Advice Information Beneficiary's Bank Advice Information Subfield 2: Additional Information Advice Information (and Advice (and Subfield 1: Instruction is Code = PHN, LTR, TLX or WRE) Advice Information (and Advice ''PHON'' or "TELE") Code = P or C) :72: {6100} [610] Sender to Receiver Information Receiver FI Information Receive Bank Advice Information Code: REC
153 154 Purpose RegulatoryReporting 155 156 RelatedRemittanceInformation RemittanceInformation
G Fedwire CTR
:77B: Regulatory Reporting :70: Remittance Information
or
or
{6500} FI to FI Information
[650] General Advice Information
-
-
{6000} Originator to Beneficiary Information
[600] Originator to Beneficiary Information
157
MX pacs.008.001.01 FIToFICustomerCreditTransferV01 to MT 103 Core Single Customer Credit Transfer
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