MT103 - SWIFT Payments Explained - Statrys

MT103 is a SWIFT message that's used to confirm the payment details of an international wire transfer. It's also known as MT103 Document or MT103 Notification Message.

The message contains information about the sender and receiver, as well as the amount and currency being transferred so that the receiving bank can confirm that it's received funds from the right sender.

There are three parts to an MT103: an introduction section that gives some basic information about the payment; an operational section that details the specifics of who is sending money to whom; and a concluding section with any extra information needed by the receiving bank or other parties involved in processing this transaction.

Whether you're sending or receiving money, MT103 is an important part of the process.

In this video, we'll explain what MT103 is, and what does this information look like? and why it's so important.
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📚 Useful resources:
• MT103 Examples and Explanation Blog ► https://bit.ly/MT103

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• Hong Kong Company Incorporation ► https://bit.ly/HongKongBusinessSetUp
• Singapore Company Incorporation ► https://bit.ly/SingaporeCompanyFormation

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