Cash Processing for SWIFT 15022 (MT).
Modelling the lifecycle of Cash Processing from instruction of cash transfer, settlement and reconciliation.
Outbound SWIFT Payment.
Cash Instruction
At point of instructing an outgoing SWIFT message is sent out onto the SWIFT network to instruct a funds transfer to a beneficiary.
MT103 - Single Customer Credit Transfer
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The ISO 20022 (MX) equivalent is a pacs.008.
Instructs a funds transfer.
This 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.
Acknowledgement
Almost immediately and where the message passes the SWIFT network validation rules, an inward ACK is received.
SWIFT ACK
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All outward SWIFT 15022 messages go through SWIFT network
validation to ensure they adhere to messaging standards.
Where they pass validation a SWIFT ACK is returned.
Settlement
At the point of settlement and once the funds transfer has settled, a confirmation of debit is received.
MT900 - Confirmation of Debit
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The SWIFT 20022 (MX) equivalent is a camt.054
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Reconciliation
For cash reconciliation there are a number of options for receiving cash positions and movements, including intra day and end of day messages, each performing a slighlty different role in reconciliation and containing slightly different information.
MT940 - Customer Statement Message
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The SWIFT 20022 (MX) equivalent is a camt.053
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MT941 - Balance Report
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The SWIFT 20022 (MX) equivalent is a camt.052
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MT942 - Interim Transaction Report
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The ISO 20022 (MX) equivalent is a camt.052.
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MT950 - Statement Message
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The ISO 20022 (MX) equivalent is a camt.053.
Coming Soon.
Other Cash Instruction Flows
As we find further scenarios we will add here...Outbound SWIFT Payment
Modelling the lifecycle of Cash Processing from instruction of cash transfer, settlement and reconciliation
Inbound SWIFT Payment
Modelling the lifecycle of Cash Processing from receipt of settlement and reconciliation