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MT 103 is for customer/individual payments whereas MT 202 is used for Inter Bank payments.
Hello guys, I need a serious sender of MT103 direct, Plus or Manual download. Receiver is ready!!! Contact me via : tracyallen358@gmail.com
Hello guys, I need a serious sender of MT103 direct, Plus or Manual download. Receiver is ready!!! Contact me via : tracyallen358@gmail.com
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MT103 is remittance for individual payment instruction with benficary details and purpose of remittances
MT202 are institutional transfer between 2 entities mainly excuted for treasury payments,cover payment for MT103,return payments.
MT103 for transfer cash between customers
MT202 for transfer between bank and bank
the MT 103 is used for cash transfer specifically for cross border in international transfers. this instruction is given by the customer.
The MT 202 s used for bank and bank transfer (Mostly used by financial institutions for to return funds for exemple .
Mt-1* Carries Customer information. This message shows the remitter,beneficiary and the banks involved in it.
Mt-2* is a bank to bank transfer message type. It is also called Cover payment.
The main difference is Mt-1* Carries only information and Mt-2* carries actual funds.
So, every MT-1* message accompanied by a cover payment i.e; MT-2*
MT stands for Messege Type . MT1* - for customers payments
MT2* - for banks and financial institutes
