Last reviewed: · Curated by Ohmyfin Organisation editorial.
The beneficiary bank, formally called the "Account With Institution", is the bank that holds the account of the final beneficiary. It is the last bank in the SWIFT payment chain.
Details
On an MT103 the beneficiary bank is identified in field 57 (variants 57A, 57B, 57C, 57D). Field 57A uses the BIC; the others use national clearing codes or free-format names.
The beneficiary themselves (the actual account holder) is in field 59, which immediately follows.
Key facts
Holds the final beneficiary's account
Lives in MT103 field 57A/B/C/D
Identified primarily by BIC (field 57A)
Followed by the beneficiary in field 59
Frequently asked questions
What if field 57 is missing?
A correspondent bank in the chain may have to "guess" the routing, causing delays or the payment being returned. Always include the beneficiary's BIC.
Get 100 free credits — track unlimited SWIFT payments
No card needed. Free for ordinary users — 5 IP-based lookups per day, plus 100 credits instantly when you sign up with email. Use them on any international wire across 11,000+ banks.