PmtMtd

ISO 20022 Payment Method element, payment initiation in pain.001 and pain.008.

Definition

PmtMtd is a mandatory element of the PmtInf block that fixes the settlement method. Allowed values are TRF (credit transfer, used in pain.001), DD (direct debit, used in pain.008) and CHK (cheque). The code drives which child elements are expected, notably the MndtRltdInf block for DD.

Origin

Code defined by the ISO 20022 ExternalPaymentMethod code list, used in the pain.001 and pain.008 Message Definition Reports (ISO TC 68/SC 9).

Example in context

<PmtInf><PmtInfId>ACME-PMT-2026001</PmtInfId><PmtMtd>TRF</PmtMtd></PmtInf>

Related terms

• PmtInf — parent block carrying the method.
• MndtRltdInf — required when PmtMtd is DD.