SWIFT Correspondence (Transfers: Clients and Banks)

Course details

In this course, participants will learn the concept of the messages field, the basic elements of SWIFT messages and the ideal way to handle transfers. Participants will learn how to eliminate potential errors in communications with correspondents.

Course Description:

In this course, participants will learn the concept of the messages field, the basic elements of SWIFT messages and the ideal way to handle transfers. Participants will learn how to eliminate potential errors in communications with correspondents.

Course Objectives:

• Describe the general features of SWIFT.
• Discuss the different methods of customer payment
• Straight through processing (STP) and MT 103+
• Explain messages related to checks and bank transfers
• Identify cash management messages

Course Outline:

Module 1:Basic and Customer Transfers

• The basics of SWIFT.
• Customer payments and checks: MT 103

Module 2:Customer Payments

• The cover method and the serial method.
• Clearing systems (CHIPS and FedWire).
• Relationships among fields.
• Exercises.

Module 3:Straight through processing (STP) and MT 103 +

• STP in large correspondents and how to avoid repair charges with exercises.
• MT 103 +

Module 4:Checks and Bank Transfers

• Checks messages MT 110,111,112.
• Financial institutions transfers:
• MT 202 and Relationship between fields (103,202) with exercises.
• MT200, 201,203,204,205,210.

Module 5:Cash Management and Common Group Messages

• Debit, Credit advices and account messages: MT 900,910,950
• Common group messages: MTn90, n91, n92, n95, n96, n99

Assessment Strategy:

Participants will be informally assessed on their interaction during sessions and their participation in exercises