Single Customer Debit Transfer

MT103 Single Customer Debit Transfer – Service Provider

We provide MT103 Single Customer Debit Transfers as a secure and efficient method for pull-based cross-border payments. Unlike credit transfers (where funds are "pushed" from the sender), debit transfers authorize the beneficiary’s bank to collect payment directly from the debtor’s account via SWIFT, ensuring compliance and end-to-end tracking.

Key Features of Our MT103 Debit Service:

✔ Controlled Payment Execution – Funds debited only after approval.
✔ Pre-Advice Verification – MT199 confirms details before processing.
✔ Full Transparency – Clear audit trail with SWIFT confirmations.
✔ Regulatory Compliance – AML/KYC checks on both parties.
✔ Flexible Use Cases – Ideal for recurring/invoice-based payments.

How It Works – Step-by-Step Process

1. Submit Your Customer Information Sheet (CIS)

• Provide debtor/creditor details (names, accounts, SWIFT/BIC, amount, payment reference).

• Compliance team validates debtor’s authorization to debit.

2. We Send an MT199 (Pre-Advice)

• An MT199 pre-advice message is sent to the debtor’s bank to:
  ✅ Confirm payment instructions are valid.
  ✅ Verify account availability.

3. MT103 Debit Execution

• Upon pre-advice approval, we issue the MT103 debit message, directing the beneficiary’s bank to collect funds.

• Includes:
  🔹 Payment reference
  🔹 Creditor/debtor details
  🔹 FX rate (if applicable)

4. Email Confirmation & Settlement

• You receive an email confirmation with:
  📌 MT103 copy
  📌 Expected settlement date
  📌 Post-debit verification report

Who Uses This Service?

• Businesses – Collecting international invoice payments.

• Banks/Financial Institutions – Facilitating direct debit settlements.

• Service Providers – Recurring cross-border subscriptions/fees.

Why Choose Our MT103 Debit Service?

🔹 Debit Control – Funds move only after pre-approval.
🔹 Reduced Errors – MT199 pre-check minimizes rejections.
🔹 Regulatory Safeguards – Full compliance with anti-fraud measures.

Need to set up a debit transfer? [Contact Us / Submit Request]

Standard Operating Procedure

1. Client Submission

Action Required:
✅ Submit Customer Information Sheet (CIS) with:

• Sender/Beneficiary details (name, address, account, SWIFT/BIC)

• Transfer amount + currency

• Payment purpose (e.g., "Invoice #12345")
  ✅ Clear all fees upfront (wire/automated deduction)

Validation:

• Automated AML/KYC check (sanctions screening, PEP flags)

• Fraud detection AI scans for anomalies
  
  2. Pre-Advice (MT199) – 24-72 Hours
  Client Approval:

  • Client reviews MT199 via:

    • Bank’s SWIFT portal

    • Secure email (PGP-encrypted)

  • Must respond with signed authorization
    
    3. MT103 Execution

    Upon Approval:
    
    4. Confirmation & Settlement

    1. • Email confirmation

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