Category of Swift

Category of Swift

 
Category    Details
1    Customer payments and cheques
2    Financial institution transfers
3    Treasury Markets-FX, Money Markets and Derivatives
4    Collection and cash letters
5    Securities Markets
6    Treasury Market- Precious Metals/ Syndications
7    Documentary Credits and Guarantees
8    Travellers Cheques
9    Cash Managements and Customers Status
Structured / Free Format Message
X99 in each category are free format message
(799 is free format message for LC/BG)‏
All other are structured MTs
Structured as per Type and use of Message
Except 999 all other free format MTs are authenticated
MT 110 Scope
Advise of Cheque(s)‏
Sent by a drawer bank, or a bank acting on behalf of the drawer bank to the drawee bank
It is used to advise the drawee bank, or confirm to an enquiring bank, the details concerning the cheque(s) referred to in the message
MT 111 Scope
Request for Stop Payment of a Cheque
This single message type is sent by a drawer bank, or a bank acting on behalf of the drawer bank, to the drawee bank
STOP PAYMENT
Currency Clearing House Process
Funds transferred without any repair
No human intervention
Low cost
Real time payments
ROAD TO STP
Nostro and Currency must match
Ben bank correspondent SWIFT BIC
Ben bank SWIFT BIC or A/c No. with Correspondence
Beneficiary Full A/c No. given
Beneficiary Correct Name Given
Swift structure is strictly followed