Two variants of the MT 103 exist and these are documented separately:
The MT 103 STP is a general use message, that is, no registration in a MUG is
necessary to send and receive this message. It allows for the exchange of single
customer credit transfers using a network-validated, restricted set of fields
and format options of the MT 103 to make it straight through processable.
- The MT 103 REMIT requires registration in the Extended Remittance Information MUG. This MUG allows its subscribers to exchange MT 103 REMIT messages with an extended amount of remittance information in the additional field 77T Envelope Contents. This remittance information may optionally be exchanged in a non-SWIFT format, such as EDIFACT or ANSI-X12.
MT 103 ScopeThis message type is sent by or on behalf of the financial institution of the ordering customer, directly or through (a) correspondent(s), to the financial institution of the beneficiary customer.
It is used to convey a funds transfer instruction in which the ordering customer or the beneficiary customer, or both, are non-financial institutions from the perspective of the Sender.
This message may only be used for clean payment instructions. It must not be used to advise the remitting bank of a payment for a clean, for example, cheque, collection, nor to provide the cover for a transaction whose completion was advised separately, for example, via an MT 400.