MT103 STP

Variant of the SWIFT MT103 customer credit transfer optimised for automated processing.

Definition

MT103 STP applies stricter rules than the base MT103: for example, institutions must be identified by BIC (option A) rather than in free text, and certain field combinations are forbidden. The aim is to guarantee that the message can be processed fully automatically by the receiving bank. It shares the same field structure as the MT103 (20, 23B, 32A, 50a, 59a, 71A).

Origin

Defined in the SWIFT User Handbook, Standards MT Category 1 — Customer Payments and Cheques (MT103 STP specification), published by SWIFT.

Example in context

:20:STPREF001 :23B:CRED :32A:260620EUR9500,00 :50A:DEUTDEFF :52A:BNPAFRPP :59A:/DE89370400440532013000 CBVADEBB :71A:OUR

Related terms

• SWIFT MT103 — base message of which STP is a restricted variant.
• Field 23B — Bank Operation Code, constrained in STP mode.