Page 131 - DMGT303_BANKING_AND_INSURANCE

Banking and Insurance

Notes
Category What It Represents
0 System Message
1 Customer payment and cheques
2 Financial Payment and cheques
3 Financial Trading
4 Collections and cash letters
5 Securities
6 Precious metals and syndicates
7 Documentary Credit and Guarantees
8 Traveller’s cheques
9 Cash Management and Customer Status
The 10 categories of message type are further divided to take care of maximum possible
combinations. There are more than 120 such messages with a fixed format called "Message
Type".
Message Type

There can be any number of message types in each category, and each message is identified by
a three digit number. The first digit of each message type represents the category it belongs to:

Category I

MT-100 - Customer Transfer
MT -111 - Request for stop payment of a cheque

Category 2

MT-202 - General Financial Institutions Transfer

MT-203 - Multiple General Financial Institution Transfer
Category 4

MT-400 - Advice of payment

MT-410 - Acknowledgement
MT 412 - Advice of Acceptance
MT-416 - Advice of Non-payment/Non Acceptance
MT 420 - Tracer
MT-422 - Advice of Fate and request for instructions
MT-430 - Amendment of instructions
MT-456 - Advice of Dishonour

Category 7

MT-700 & 701 - Issue of Documentary Credit
MT-705 - Pre-advice of a documentary credit

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