Introduction to the Request for Transfer of Funds

Swift message MT101 (Request for Transfer) is sent by a financial institution on behalf of a non-financial institution account owner, that is, the ordering customer or instructing party. It is subsequently received by the receiving financial institution and processed by the receiving financial institution or the account servicing financial institution.

The MT101 message is used to order the movement of funds:

• Between ordering customer accounts , or
• In favour of a third party, either domestically or internationally.

The MT01 consists of two sequences:

• Sequence A – General Information is a single occurrence mandatory sequence and contains information to be applied to all individual transactions detailed in sequence B.
• Sequence B – Transaction Details is a repetitive sequence; each occurrence provides details of one individual transaction. Fields which appear in both sequences are mutually exclusive.