MVL | Course Details

Foundation of SWIFT for Bankers (MT standards)

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Foundation of SWIFT for Bankers (MT standards)

Objectives

  • To gain knowledge about SWIFT MT messages for payments e.g. MT1XX, MT2XX and MT9XX series

Course Contents

  • What is SWIFT
  • Various products and services offered by SWIFT to banks/financial institutions and corporates
  • SWIFT messaging services : SWIFTNetFin, FileAct, InterAct and Browse
  • Overview of SWIFT connectivity : SNL, Alliance Gateway, Alliance Web Platform, Alliance Access, Alliance Lite, Alliance Hub, Alliance Remote Gateway and structures used in financial institutions
  • Corporate connectivity : SCORE, MA-CUG, Many-to-Many CUG, TRCO
  • Banking relationships e.g. Nostro/Vostro and corporate relationships
  • SWIFT message routing restrictions and message user groups
  • Overview of Relationship Management Application (RMA)
  • Overview of SWIFT MT messages : MT1XX to MT9XX, MTnXX
  • System messages and Service messages, ACK/NAK, UAK. UNAK and notification messages
  • Payment market practices and guidelines
  • Institution identification : BIC Policy
  • SWIFT MT message structure and message blocks

 

Using SWIFT MT messages for payments

  • Concepts, Terminology and understanding basic fields in SWIFT MT messages

 

Overview of important messages in MT1XX series

  • Request for transfer : MT101
  • Multiple customer credit transfer : MT102
  • Single customer credit transfer : MT103 in serial mode and MT 103 with MT202COV in cover mode
  • Direct debit/request for debit : MT104

 

Overview of important messages in MT2XX series 

  • Financial institution transfer for own account : MT200
  • Financial institution transfer for own account : MT201
  • General financial institution transfer : MT202
  • Multiple general financial institution transfer : MT203
  • Financial markets direct debit : MT204
  • Financial institution transfer execution : MT205
  • Notice to receive : MT210

 

Overview of important messages in MT9XX series

  • Confirmation of debit : MT900
  • Confirmation of credit : MT910
  • Request message : MT920
  • Customer statement message : MT940
  • Interim transaction report : MT942
  • Statement message : MT950

 

Overview of using SWIFT MT messages for trade finance

  • SWIFT MT4XX series for bill collections
  • SWIFT MT7XX series for documentary credits and guarantees

 

Overview of Rejects/Returns in SWIFT MT

  • Reject and return guidelines

Delivery mode
Classroom and Live Virtual Classroom (LVC) Mode
Duration
1 full day
Course level
Foundation Level

Contact US

MVL Consulting Private Limited

Address : #17, Laxman Villa Condominium, Paud Road, Pune, Maharashtra 411038 India 

Phone : +91 - 20 - 2546 6154

Mobile: +91 - 7030735350 / 9764835350

Email-id : info@mvlco.com

CIN No. : U31909MH1996PTC100429

 

Contact for Inhouse Programs

Head- Learning and Development

Name : Ms. Sangeeta Dokey

Phone : +91-9168 435 350

Email-id : info@mvlco.com

 

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