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Messaging systems and standards for Cross border payments

SWIFT MT101 Usage to pay from Parent Company on behalf of subsidiaries

SWIFT MT101 Usage by parent company to pay on behalf of subsidiaries

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The previous article was about the usage of the SWIFT MT101 by a parent company to pay from a subsidiary account. A parent company...
MT101 SWIFT Message Usage to pay from subsidiary account

SWIFT MT101 Usage to pay from a subsidiary account

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The MT101 is a payment initiation message that can be used for many purposes and in various ways. An overview of how corporations use...
SWIFT MT101 definition and field 50H in the Sequence B

SWIFT MT101 Usage to pay from multiple debit accounts

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The previous article was about a SWIFT MT101 where the field 50a (Ordering Customer) is present in the Sequence A. As a result, the...
SWIFT MT101 - Basic example with two domestic transactions

Basic SWIFT MT101 Message with two domestic transactions

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In the previous article, we saw how corporations use the SWIFT MT101 message to transfer funds either domestically or internationally. Now we want to...
Different usages of the SWIFT MT101

How Corporations use the SWIFT MT101 Request for transfer

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The SWIFT MT101 Request for Transfer is a payment initiation message used by corporations to send domestic and/or internatinal payments instructions to their banks....
SWIFT MT103 Serial Payment 3 between Receiver correspondent and Account with Institution

SWIFT MT103 serial payment analysis 3/3

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This is the third and last article about a SWIFT MT103 serial payment (so settled via the serial method). We already studied the cover...
MT103 Serial Payment 2 between Sender correspondent and Intermediary Institution

SWIFT MT103 serial payment analysis 2/3

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This is the second article where we are looking at a concrete example of MT103 serial payment. We already saw how the cover method...
MT103 Serial Payment between Debtor Bank and its correspondent

SWIFT MT103 serial payment analysis 1/3

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In a previous article, serial and cover methods were presented. Then we analyzed a concrete example of payment settled with cover method in the...
SWIFT MT940 sent to Bank authorized by account owner

Opening, Closing and Forward Available Balances in the SWIFT MT940 Format

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In the SWIFT MT940 format specifications, there are four fields for balances: F60a Opening Balance, F62a Closing Balance (Booked Funds), F64 Closing Available Balance...

SWIFT MT940 Customer Statement – Detailed analysis

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The SWIFT MT940 is called Customer Statement Message. It is basically an account statement and therefore provide detailed information about all entries booked to...

Payment Market Infrastructures in the World...

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In the United Kingdom, Banks can join the Payment market infrastructures for the Pound sterling, but since UK belongs to the SEPA Area, UK...

Payment Market Infrastructures in the World...

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In our last videos, we spoke about the payment market infrastructures in Sweden. In today’s video, we will consider the payment market infrastructures of...

Credit Card Alternatives for Handling Large...

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Image: UnsplashFor a long time, people have relied on credit cards to help with the handling of major expenses. The idea is simply to...

Secrets to understand Payments Market Infrastructures...

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In the previous video, we explained how Payment Market Infrastructures are structured anywhere in the world while focusing on the example of Sweden. Swedish banks...