MT103
An MT103 is the SWIFT message format for a single customer credit transfer: one payment from a company or person at one institution to a beneficiary at another. Businesses often ask for a copy of the MT103 as proof that an international payment was sent. Since November 2025, these payments travel as ISO 20022 pacs.008 messages instead.
What an MT103 contains
An MT103 is a structured message in which each piece of information sits in a numbered field. These are the fields people look at most:| Field | Name | What it holds |
|---|---|---|
| 20 | Sender's reference | The sending institution's reference for the message |
| 23B | Bank operation code | The type of operation, usually CRED for a standard credit transfer |
| 32A | Value date, currency, amount | When the funds settle, in which currency, and how much |
| 50a | Ordering customer | Who is paying |
| 52a | Ordering institution | The payer's bank or provider |
| 56a | Intermediary institution | A correspondent bank the payment passes through, if any |
| 57a | Account with institution | The beneficiary's bank or provider |
| 59a | Beneficiary customer | Who is being paid, usually with their IBAN or account number |
| 70 | Remittance information | Free text, usually the invoice number |
| 71A | Details of charges | Who pays the fees: OUR, SHA or BEN |
| 121 | UETR | The unique reference that follows the payment end to end |
Why businesses ask for an MT103
The most common reason is proof of payment. A supplier says the money hasn't arrived, and the MT103 shows when it was sent, how much, and to which account.It's also the starting point for chasing a missing payment. The beneficiary's provider can use the references in it, the UETR above all, to find the funds.And it settles short-payment disputes. Field 71A shows whether fees were meant to come out of the amount (SHA or BEN) or be paid by the sender (OUR), which explains why a supplier received less than the invoice.MT103 vs MT202 and MT202 COV
An MT103 moves a customer's money. An MT202 moves money between two financial institutions for their own account. An MT202 COV is a cover payment: the bank-to-bank transfer that funds an underlying customer payment, carrying the customer details so each bank in the chain can screen them.Under ISO 20022, the equivalents are pacs.008 for the MT103, pacs.009 for the MT202 and pacs.009 COV for the MT202 COV.MT103 after ISO 20022
The coexistence period for cross-border payments on SWIFT ended on 22 November 2025. Payment instructions that used to go as MT103 messages now go as pacs.008 messages, which carry more structured data about the payer, the beneficiary and the purpose of the payment.The name has outlived the format. Suppliers and auditors still ask for "the MT103", and what they need is a payment confirmation with the same information: references, UETR, value date, amount, parties and charges option.How to get proof of a SWIFT payment
Ask your provider for the payment confirmation for that transfer and check that it shows the UETR. [CONFIRM: what a Narvi client receives when a supplier asks for an MT103, what that document is called, and where to request it.]For more on the network these messages run on, see how SWIFT payments work and the SWIFT message layer.FAQ
It proves the payment was sent with the details shown. It doesn't prove the beneficiary's provider has credited the funds; the UETR and the SWIFT GPI tracker show that.
Yes, through the UETR it contains. Your provider, or the beneficiary's, can use it to trace the payment along the chain.
No. SEPA credit transfers have always used ISO 20022 messages within the SEPA scheme. MT103 was a SWIFT format for cross-border payments.
Last reviewed October 21, 2026Disclaimer
This publication is provided for general information purposes and does not constitute legal, tax, or other professional advice from Narvi Payments Oy Ab or its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
This publication is provided for general information purposes and does not constitute legal, tax, or other professional advice from Narvi Payments Oy Ab or its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
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