Hello Herni,
The MT101 Message is widely used worldwide, and it's common in some European countries too for Corporates purposes.
Among Mid size and Micro size companies the SWIFT (MT101) has been substituted for the ISO and the CBI instead.
The countries that use SWIFT Format (and MT10x messages) officially are China, Great Britain, Norway, Denmark, Hong Kong, Poland, Estonia, Latvia, Singapore, Finland, Lithuania, Sweden, France, Luxembourg, USA, Germany and Netherlands. It's possible other banks and non financial institution adopt MT10x, but it's a case per case situation.
According to the specifications the MT101 message is:
- sent by a financial institution on behalf of a non-financial institution account owner, to an account servicing financial institution or to a forwarding financial institution for further transmission to the account servicing institution.
- sent by a non-financial institution account owner, or a party authorised by the account owner, to an account servicing financial institution or to a forwarding financial institution for further transmission to the account servicing institution.
- used to move funds from the ordering customer's account(s) serviced at the receiving financial institution or at the account servicing institution, or from an account(s) owned by the ordering customer which the instructing customer has explicit authority to debit, for example, a subsidiary account.
The MT 101 can be used to order the movement of funds between ordering customer accounts, or in favour of a third party, either domestically or internationally.
Until now StandardERP supports (depending on the countries specifications) ISO and CBI SEPA messages. The SWIFT MT messages are not supported. Nevertheless the format can be implemented as a specific feature for Customers who need it.
Best Regard
Giuseppe L.
HansaWorld Team