SWIFT ISO15022 Standard
Detail view for message MT202.COV - General Financial Institution Transfer
Description of the message MT202.COV
The MT 202 COV is a General Use message, that is, no registration in a Message User Group is necessary to send and receive this message.
The message contains a mandatory sequence to include information on an underlying customer credit transfer and has a maximum message length of 10,000 characters.
Important!
To trigger the MT 202 COV format validation, the user header of the message (block 3) is mandatory and must contain the code COV in the validation flag field 119 ({3:{119:COV}}).
Purpose of the message MT202.COV
Requests the movement of funds between financial institutions, related to an underlying customer credit transfer that was sent with the cover method.
Scope of the message MT202.COV
This message is sent by or on behalf of the ordering institution directly, or through correspondent(s), to the financial institution of the beneficiary institution. All parties to the financial institution transfer (sequence A) must be financial institutions.
It must only be used to order the movement of funds related to an underlying customer credit transfer that was sent with the cover method.
The MT 202 COV must not be used for any other interbank transfer. For these transfers the MT 202 must be used.
Structure of the message MT202.COV
1
20
Transaction Reference Number
M
Definition
This field specifies the reference assigned by the Sender to unambiguously identify the message.
Definition
This field contains a reference to the related transaction(s).
Definition
This repetitive field specifies one or several time indication(s) related to the processing of the payment instruction.
Format
| Option C | /8c/4!n1!x4!n | (Code)(Time indication)(Sign)(Time offset) |
4
32A
Value Date, Currency Code, Amount
M
Definition
This field specifies the value date, currency and amount to be transferred.
Format
| Option A | 6!n3!a15d | (Date)(Currency)(Amount) |
5
52a
A
Ordering Institution
O
Definition
This field specifies the ordering financial institution when other than the Sender of the message.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
| Option D | [/1!a][/34x]
4*35x | (Party Identifier)
(Name and Address) |
6
53a
A
Sender's Correspondent
O
Definition
This field specifies the account or branch of the Sender or another financial institution through which the Sender will reimburse the Receiver.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
| Option B | [/1!a][/34x]
[35x] | (Party Identifier)
(Location) |
| Option D | [/1!a][/34x]
4*35x | (Party Identifier)
(Name and Address) |
7
54a
A
Receiver's Correspondent
O
Definition
This field specifies the branch of the Receiver or another financial institution at which the funds will be made available to the Receiver.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
| Option B | [/1!a][/34x]
[35x] | (Party Identifier)
(Location) |
| Option D | [/1!a][/34x]
4*35x | (Party Identifier)
(Name and Address) |
Definition
This field specifies the financial institution through which the transaction must pass to reach the account with institution.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
| Option D | [/1!a][/34x]
4*35x | (Party Identifier)
(Name and Address) |
9
57a
A
Account With Institution
C
Definition
This field identifies the financial institution which will pay or credit the beneficiary institution.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
| Option B | [/1!a][/34x]
[35x] | (Party Identifier)
(Location) |
| Option D | [/1!a][/34x]
4*35x | (Party Identifier)
(Name and Address) |
10
58a
A
Beneficiary Institution
M
Definition
This field specifies the financial institution which has been designated by the ordering institution as the ultimate recipient of the funds being transferred.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
| Option D | [/1!a][/34x]
4*35x | (Party Identifier)
(Name and Address) |
11
72
Sender to Receiver Information
O
Definition
This field specifies additional information for the Receiver.
Format
| 6*35x | (Narrative Structured Format) |
12
50a
A
Ordering Customer
M
Definition
This field specifies the customer ordering the transaction.
Format
| Option A | [/34x]
4!a2!a2!c[3!c] | (Account)
(Identifier Code) |
| Option F | 35x
4*35x | (Party Identifier)
(Name and Address) |
| Option K | [/34x]
4*35x | (Account)
(Name and Address) |
13
52a
A
Ordering Institution
O
Definition
This field specifies the financial institution of the ordering customer, when different from the Sender, even if field 50a contains an IBAN.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
| Option D | [/1!a][/34x]
4*35x | (Party Identifier)
(Name and Address) |
14
56a
A
Intermediary Institution
O
Definition
This field specifies the financial institution through which the transaction must pass to reach the account with institution.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
| Option C | /34x | (Party Identifier) |
| Option D | [/1!a][/34x]
4*35x | (Party Identifier)
(Name and Address) |
15
57a
A
Account With Institution
C
Definition
This field specifies the financial institution which services the account for the beneficiary customer. This is applicable even if field 59a contains an IBAN.
Format
| Option A | [/1!a][/34x]
4!a2!a2!c[3!c] | (Party Identifier)
(Identifier Code) |
| Option B | [/1!a][/34x]
[35x] | (Party Identifier)
(Location) |
| Option C | /34x | (Party Identifier) |
| Option D | [/1!a][/34x]
4*35x | (Party Identifier)
(Name and Address) |
16
59a
Beneficiary Customer
M
Definition
This field specifies the customer which will be paid.
Format
| No letter option | [/34x]
4*35x | (Account)
(Name and Address) |
| Option A | [/34x]
4!a2!a2!c[3!c] | (Account)
(Identifier Code) |
| Option F | [/34x]
4*(1!n/33x) | (Account)
(Number)(Name and Address Details) |
17
70
Remittance Information
O
Definition
This field specifies either the details of the individual transaction or a reference to another message containing the details which are to be transmitted to the beneficiary customer.
18
72
Sender to Receiver Information
O
Definition
This field specifies additional information for the Receiver or other party specified.
Format
| 6*35x | (Narrative Structured Format) |
19
33B
Currency/Instructed Amount
O
Definition
This field specifies the currency and amount of the instruction. This amount is provided for information purposes and has to be transported unchanged through the transaction chain.
Format
| Option B | 3!a15d | (Currency)(Amount) |
