MT101

SWIFT MT category 1 message, customer payments initiated by the ordering party.

Definition

MT101 carries one or more payment transactions in a single request (a common sequence A and a repeating per-transaction sequence B). It is typically used for corporate-initiated payments (centralised cash management, multi-account payments) and requires a prior agreement between the ordering party and the receiving bank. Key fields: 20 (Sender's Reference), 21R (Customer Specified Reference), 50a (Ordering Customer), 59a (Beneficiary), 32B (Currency/Amount).

Origin

Defined in the SWIFT User Handbook, Standards MT Category 1 — Customer Payments and Cheques, published and maintained by SWIFT (Society for Worldwide Interbank Financial Telecommunication).

Example in context

:20:REF101A :28D:1/1 :50H:/12345678901 ACME CORP :30:260620 :21:TXN0001 :32B:EUR15000,00 :59:/FR7630006000011234567890189 SUPPLIER LTD :71A:SHA

Related terms

• SWIFT MT103 — interbank customer credit transfer often resulting from an MT101.
• Field 71A — charge allocation used in MT101.