Category 1: Customer payments and cheques
MT107 General Direct Debit Message
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The MT107 is a direct debit order between banks. The creditor’s bank, or another bank acting for the creditor, sends it to the debtor’s bank, or to a bank in between, asking it to debit one or more debtors’ accounts and pay the collected amount. Its use is governed by bilateral or multilateral agreements between the banks.
What MT107 is used for
Sequence A holds what applies to every debit (the requested execution date, and by default the creditor, the instruction code and the charges), sequence B repeats once per debtor, and sequence C gives the settlement amount and the sums. A field such as 23E, the creditor (50A or 50K), 21E, 26T, 77B, 71A, 52a or the instructing party (50C or 50L) goes either in sequence A or in sequence B, never in both.
Field 23E says whether the debits are pre-authorised (AUTH) or not (NAUT), or carries a bilateral code (OTHR). RTND marks a returned MT107 (rejected, reversed or revoked) and then requires field 72 in sequence A. The MT104 covers similar business with a request-for-debit-transfer variant; the MT107 is the general interbank form.
When no charges are included, sequence C field 32B equals the sum of the 32B amounts in sequence B; when charges are included, field 19 carries that sum and 32B the settlement amount.
- Sent by
- The creditor’s bank, or another bank acting for the creditor
- Sent to
- The debtor’s bank, or a bank in between
MT107 format: sequences and fields
Sequence AGeneral InformationMandatory
| Tag | Name | Status | Format | Meaning |
|---|---|---|---|---|
| 20 | Sender’s Reference | M | 16x | The sender’s reference for the whole message. |
| 23E | Instruction Code | C | 4!c[/30x] | AUTH, NAUT, OTHR or RTND for all debits. If absent here it must be in every occurrence of sequence B. |
| 21E | Registration Reference | C | 35x | Reference that registers the creditor in the direct debit scheme. Requires the creditor (50A or 50K) in the same sequence. |
| 30 | Requested Execution Date | M | 6!n | Date on which the debtors’ accounts are to be debited (YYMMDD). |
| 51A | Sending Institution | O | [/1!a][/34x] 4!a2!a2!c[3!c] | The institution that sent the message, used only in FileAct transfers. |
| 50a | Instructing PartyOptions C or L | C | C: 4!a2!a2!c[3!c] L: 35x | The party that instructs on behalf of the creditor, by BIC (C) or other identifier (L). |
| 50a | CreditorOptions A or K | C | A: [/34x] 4!a2!a2!c[3!c] K: [/34x] 4*35x | The party that collects the funds. If absent here it must be in every occurrence of sequence B. |
| 52a | Creditor’s BankOptions A, C or D | C | A: [/1!a][/34x] 4!a2!a2!c[3!c] C: /34x D: [/1!a][/34x] 4*35x | The creditor’s bank, when it is not the sender. |
| 26T | Transaction Type Code | C | 3!c | Nature or purpose of all the debits, for example a reporting code. |
| 77B | Regulatory Reporting | C | 3*35x | Statutory reporting information for all the debits. |
| 71A | Details of Charges | C | 3!a | Who bears the charges for all the debits. |
| 72 | Sender to Receiver Information | C | 6*35x | Present only when 23E is RTND, to give the details of the return. |
Sequence BTransaction DetailsMandatory, repeatable
One occurrence per debit.
| Tag | Name | Status | Format | Meaning |
|---|---|---|---|---|
| 21 | Transaction Reference | M | 16x | Reference of this individual debit. |
| 23E | Instruction Code | C | 4!c[/30x] | Instruction for this debit when it is not given in sequence A. |
| 21C | Mandate Reference | O | 35x | Reference of the mandate the debtor signed. |
| 21D | Direct Debit Reference | O | 35x | The creditor’s reference for this direct debit. |
| 21E | Registration Reference | C | 35x | Scheme registration reference for this debit when not given in sequence A. |
| 32B | Currency and Transaction Amount | M | 3!a15d | Currency and amount to be debited from this debtor. |
| 50a | Instructing PartyOptions C or L | C | C: 4!a2!a2!c[3!c] L: 35x | Instructing party for this debit when not given in sequence A. |
| 50a | CreditorOptions A or K | C | A: [/34x] 4!a2!a2!c[3!c] K: [/34x] 4*35x | Creditor for this debit when not given in sequence A. |
| 52a | Creditor’s BankOptions A, C or D | C | A: [/1!a][/34x] 4!a2!a2!c[3!c] C: /34x D: [/1!a][/34x] 4*35x | Creditor’s bank for this debit when not given in sequence A. |
| 57a | Debtor’s BankOptions A, C or D | O | A: [/1!a][/34x] 4!a2!a2!c[3!c] C: /34x D: [/1!a][/34x] 4*35x | The bank that holds the debtor’s account, when it is not the receiver. |
| 59a | DebtorOptions no letter or A | M | No letter: [/34x] 4*35x A: [/34x] 4!a2!a2!c[3!c] | The debtor whose account is debited, with the account number. |
| 70 | Remittance Information | O | 4*35x | Information for the debtor about what is being collected. |
| 26T | Transaction Type Code | C | 3!c | Nature or purpose of this debit when not given in sequence A. |
| 77B | Regulatory Reporting | C | 3*35x | Statutory reporting for this debit when not given in sequence A. |
| 33B | Currency/Original Ordered Amount | O | 3!a15d | The original amount, when currency or amount differs from 32B. |
| 71A | Details of Charges | C | 3!a | Who bears the charges for this debit when not given in sequence A. |
| 71F | Sender’s Charges | C | 3!a15d | Charges taken by the sender. If used in sequence B it must also appear, as a sum, in sequence C. |
| 71G | Receiver’s Charges | C | 3!a15d | Charges due to the receiver. If used in sequence B it must also appear, as a sum, in sequence C. |
| 36 | Exchange Rate | C | 12d | Required when 33B is present in a different currency from 32B, otherwise not allowed. |
Sequence CSettlement DetailsMandatory
| Tag | Name | Status | Format | Meaning |
|---|---|---|---|---|
| 32B | Currency and Settlement Amount | M | 3!a15d | Total to be settled. Without charges it equals the sum of the 32B amounts in sequence B. |
| 19 | Sum of Amounts | C | 17d | Sum of the 32B amounts in sequence B, used when charges make the settlement amount differ from it. |
| 71F | Sum of Sender’s Charges | C | 3!a15d | Total of the sender’s charges in sequence B. |
| 71G | Sum of Receiver’s Charges | C | 3!a15d | Total of the receiver’s charges in sequence B. |
| 53a | Sender’s CorrespondentOptions A or B | O | A: [/1!a][/34x] 4!a2!a2!c[3!c] B: [/1!a][/34x] [35x] | The account or institution through which the collected amount is to be paid to the sender. |
Format notation: n digits, a upper-case letters, c upper-case letters and digits, x any character of the Swift character set, d a decimal number with a comma, ! fixed length, [ ] optional, 4*35x up to 4 lines of 35 characters. M mandatory, O optional, C conditional (a rule decides).
MT107 in ISO 20022
Swift’s CBPR+ roadmap names pacs.003 (FI to FI Customer Direct Debit) as the ISO 20022 replacement and plans an end of life for the MT107; check the current roadmap for the date.
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