for the scammers requesting 103/23 or an icbpo..

A standard SWIFT MT103 (Single Customer Credit Transfer) is a general use message of a TT payment instruction which is an unconditional payment.
..
I would like to confirm that there is no MT103/23 Conditional, but MT103 (usually with Field 23B - bank operation - mandatory codeword CRED), Field 23E - Instruction Code - is where the remitting bank (at the request of the remitter) puts in instructions code instructing the beneficiary's bank how to effect the payment.
MT 103 in Field 23E specifies an instruction which must contain barely one of the following SWIFT - STP (Straight Through Processing)– Optional/Conditional – just four digits SWIFT -STP accepted codeword:
SDVA: Payment must be executed with same day value to the beneficiary.
INTC: The payment is an intra-company payment, i.e., a payment between two companies belonging to the same group.
REPA: Payment has a related e-Payments reference.
CORT Payment is made in settlement of a trade, e.g., foreign exchange deal, securities transaction.
BONL: Payment is to be made to the beneficiary customer only.
HOLD: Beneficiary customer/claimant will call; pay upon identification.
CHQB: Pay beneficiary customer only by cheque. The optional account number line in field 59 must not be used.
PHOB: Please advise/contact beneficiary/claimant by phone.
TELB: Please advise/contact beneficiary/claimant by the most efficient means of telecommunication.
PHON: Please advise account with institution by phone.
TELE: Please advise account with institution by the most efficient means of telecommunication.
PHOI: Please advise the intermediary institution by phone.
TELI: Please advise the intermediary institution by the most efficient means of telecommunication
…. A so called "MT103/23 conditional payment" is a format which would not be recognised by banks.
You cannot send an MT103 with a condition that the beneficiary's bank must receive, say presentation – evidencing of certain advisable documents detailed in Field 23E - from the beneficiary before crediting his account.
Such any other message (except merely SWIFT - STP four digits codes) stated by Field 23E will be rejected by the remitting bank, and if sent in Field 23 (which allows for only a few standard codes described above) will be rejected and ignored by the beneficiary's bank who will credit the beneficiary's account anyway.
It must be understood that other such messages are not governed by any ICC or SWIFT - STP provisions, and the manual intervention required under the "CONDITIONAL PAYMENT" flag would affect the "Straight Through Processing" (STP) function of the SWIFT MT103 message.
It is unlikely that the - SWIFT payment department - of a bank would wish to involve itself in an area for which it is not qualified, in determining the integrity of the underlying documents, and thereby lift the condition to pay the recipient.
Now for those who request a MT 103/23 , send it to me and see if it works! stop the madness already!

MT 103-23 MYTHBUSTER wrote:

A standard SWIFT MT103 (Single Customer Credit Transfer) is a general use message of a TT payment instruction which is an unconditional payment.
..
I would like to confirm that there is no MT103/23 Conditional, but MT103 (usually with Field 23B - bank operation - mandatory codeword CRED), Field 23E - Instruction Code - is where the remitting bank (at the request of the remitter) puts in instructions code instructing the beneficiary's bank how to effect the payment.
MT 103 in Field 23E specifies an instruction which must contain barely one of the following SWIFT - STP (Straight Through Processing)– Optional/Conditional – just four digits SWIFT -STP accepted codeword:
SDVA: Payment must be executed with same day value to the beneficiary.
INTC: The payment is an intra-company payment, i.e., a payment between two companies belonging to the same group.
REPA: Payment has a related e-Payments reference.
CORT Payment is made in settlement of a trade, e.g., foreign exchange deal, securities transaction.
BONL: Payment is to be made to the beneficiary customer only.
HOLD: Beneficiary customer/claimant will call; pay upon identification.
CHQB: Pay beneficiary customer only by cheque. The optional account number line in field 59 must not be used.
PHOB: Please advise/contact beneficiary/claimant by phone.
TELB: Please advise/contact beneficiary/claimant by the most efficient means of telecommunication.
PHON: Please advise account with institution by phone.
TELE: Please advise account with institution by the most efficient means of telecommunication.
PHOI: Please advise the intermediary institution by phone.
TELI: Please advise the intermediary institution by the most efficient means of telecommunication
…. A so called "MT103/23 conditional payment" is a format which would not be recognised by banks.
You cannot send an MT103 with a condition that the beneficiary's bank must receive, say presentation – evidencing of certain advisable documents detailed in Field 23E - from the beneficiary before crediting his account.
Such any other message (except merely SWIFT - STP four digits codes) stated by Field 23E will be rejected by the remitting bank, and if sent in Field 23 (which allows for only a few standard codes described above) will be rejected and ignored by the beneficiary's bank who will credit the beneficiary's account anyway.
It must be understood that other such messages are not governed by any ICC or SWIFT - STP provisions, and the manual intervention required under the "CONDITIONAL PAYMENT" flag would affect the "Straight Through Processing" (STP) function of the SWIFT MT103 message.
It is unlikely that the - SWIFT payment department - of a bank would wish to involve itself in an area for which it is not qualified, in determining the integrity of the underlying documents, and thereby lift the condition to pay the recipient.
Now for those who request a MT 103/23 , send it to me and see if it works! stop the madness already!

Thank you for the detailed explanation. Can you tell us why it still comes or printed in Compliance packages from Sellers?

Please...please....please....l et me answer this one.

Quote:
Thank you for the detailed explanation. Can you tell us why it still comes or printed in Compliance packages from Sellers?
End of quote.

Answer:
Because the "seller" is a joker-broker misrepresenting itself as a "seller" and in reality it has nothing and its hunting for someone with money so it can approach this alleged investor and offer its services and later, the joker will call itself "mandate" and will start to peddle "wanted ads" all over the internet and the circle will continue to go on and on and on...

Critic:

What BS Spotter is saying is absolutely correct. In addition to that, these alleged "mandates" , Sellers, Lessors, or whatever they call themselves today, are nothing but glorified fly by nite peddlers who have found this Petri dish medium, called the internet, by which they can hide and peruse forums and fluff their feathers pretending to be Swiss Bankers- when in fact they cant even spell, write or even really grasp what the hell they are peddling. The greed factor and lack of liability that the internet provides, allows them to prey on the masses. The higher the viewing audience, the higher the victimization potential. Do not let anyone intimidate you. It is your money that has the potential of being lost....not theirs! You intimidate them by asking the questions. If they cannot answer them or provide you with Principal passport and their passports- walk away. These joker brokers cannot conduct compliance checks and there is no need to send them sensitive information unless it is a bank to bank transaction in which case, your banker will vouch for you to their banker. These brokers do not need to have possession of your colour passport so they can easily create fictitious IDs and circulate your POFs....THINK BEFORE YOU SPEAK...DONT SPEAK BEFORE YOU THINK!

Critic wrote:

<quoted text>
Thank you for the detailed explanation. Can you tell us why it still comes or printed in Compliance packages from Sellers?

We can do MT103/23 or MT103 swift. If you got a transaction needing our services. Please email us at nodocstatedloans@gmail.com

Eugene, I noticed that you reside in the state of South Carolina and that tells me that you SHOULD be able to read and understand English...

But, your level of comprehension appears to be "nil".

Did you bother to read "MT 103-23 MYTHBUSTER's" post, before you entered your bogus offer?

There is so much 103/23 misinformation.

Actually, the 103/23 is common place outside USA but the key point is that it is not required or an obligation for the receiving bank to comply.

So, if the receiving bank does not comply, your 103/23 just became a 103 and 15 seconds later bye bye your funds never to be found again.

Also, in that case, the loss of your funds is not the responsibility of either banks. It is only your responsibility because you are suppose to know what you are doing.

Therefore, be careful to structure the transaction properly + be careful with whom you engage.

https://pppkingdom.wordpress.com/

Best Regards,

FW

For most of the people who are ot educated with the banking system, do not forget one thing always the bank compliance officer "CO" has the final world. Do not expect in any way, you can decide the Manager of your account to act against the "CO".
If the CO did not approve your transaction, no payment, transfer will be made. No funds must be received if not legitimated by a real transaction. Always CO will ask for the contract to open LC or a BG for commercial business.
One more time Conditional transfer is via LC not 103 SWIFT, the field/23 is just used for communication message between banks.

So, FW is wrong again?

I guess he never visited: www.swift.com

Well FW did not really specified conditional Swift 103/23, but I wanted to point the real matter how the banks conduct their activities inside.
I add information and will provide a link with a full scheme.
**********

The MT103 is described in the Swift User Manual as a message designed to be 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, eg, cheque, collection, nor to provide the cover for a transaction whose completion was advised separately, eg, via an MT 400.
This message should not be used to convey a funds transfer delivery instruction in which the ordering customer and the beneficiary customer are both financial institutions. The use of the MT202 message is the appropriate message format for these delivery means.
ISITC has determined a need to recommend field format/usage rules surrounding the MT103 message when appropriate as highlighted above. In addition, the format specifications highlight the use of the field 71: to state the additional charges that may be applicable for instructing the transaction to be paid by the ordering or beneficiary customer or to be shared between the parties.
Generally, institutions can determine the fee charged for processing a MT 103. It is acceptable for two parties via an SLA to negotiate a bilaterally agreed upon amount, including zero; however, that SLA does not automatically apply to other parties in the payment chain unless they have also completed an SLA.

Mr. Negro:

You are great posting websites but you do not have a CLUE what you are talking about.

You are just the Forum clown hiding behind a picture of Albert Einstein.

ARE YOU TIRED OF NON-PERFORMANCE?

IF YOU NOW ARE NOW REALLY SERIOUS ABOUT GETTING YOUR CLIENT INTO A REAL PPP CONTACT US:

https://pppkingdom.wordpress.com/

Best Regards,

FINANCIAL WARRIOR

Mythbuster, how can I reach you directly?
I am trying to learn reality vs nonsense with regards to BG's, PPP, monetizing, leveraging, etc.

Thanks

I buy some electronic parts and i do bank transfer for the payment mode. But my supplier told me that they dont received any payment. So he asking me to sent the MT103 Code from my bank. What's that means ? anyone can explain ?

Birkov - ask your bank that you did the transfer through to track the payment. They should be able to tell you exactly where it is.

Birkov wrote:

I buy some electronic parts and i do bank transfer for the payment mode. But my supplier told me that they dont received any payment. So he asking me to sent the MT103 Code from my bank. What's that means ? anyone can explain ?

He is asking you to send him a copy of the transfer slip. The one the bank gave you once you ordered and paid for the wire transfer (MT 103).

You can scan it and email it to your supplier.

if the buyer issue sblc and pay by mt 103 if it safe or not for terms of payment?

abdulrahman al habeeb wrote:

if the buyer issue sblc and pay by mt 103 if it safe or not for terms of payment?

If the buyer issued a SBLC then the bank is responsible for the payment. As long as the terms of the SBLC were met.

David Cheever wrote:

<quoted text>
He is asking you to send him a copy of the transfer slip. The one the bank gave you once you ordered and paid for the wire transfer (MT 103).
You can scan it and email it to your supplier.

David Cheever wrote:

<quoted text>
He is asking you to send him a copy of the transfer slip. The one the bank gave you once you ordered and paid for the wire transfer (MT 103).
You can scan it and email it to your supplier.

I did it !
I sent the copy of transfer and they told there is no any payment received.My supplier make a phone call and explained me to asking the MT103 code from my bank officer.

David Cheever wrote:

<quoted text>
He is asking you to send him a copy of the transfer slip. The one the bank gave you once you ordered and paid for the wire transfer (MT 103).
You can scan it and email it to your supplier.

I did it !
I sent the copy of transfer and they told there is no any payment received.My supplier make a phone call and explained me to asking the MT103 code from my bank officer. The receiver bank asking to him about the MT103 Code to find out the money. What that means ?

Hi Birkov,

Im also in Jakarta right now, and do a lot of business from Indonesia, Malaysia and the Philippines. My bank in Europe also had SWIFTs lost in transit sent from jakarta a few years back, and its all to do with relations between banks as well as correspondence routing. If you deal with HSBC Jakarta, they should be able to get an answer back report on the SWIFT system. Please let your bank call the corresponding bank they use for I assume USD transactions as well just in case.

It is best your bank officer communicate with the receivers bank officer, rather than you with the seller in these cases. This will resolve matters faster. Also, did the amount exceed 25m USD?

Bullshit. Your beard will be on floor before get answer on anything from HSBC