Last reviewed: · Curated by Ohmyfin Organisation editorial.
Field 23B is the Bank Operation Code on an MT103. It is mandatory and must contain one of five codes that tell the receiving bank how to process the payment.
How an MT103 maps to the UETR (field 121), sender reference (field 20), value-date/currency/amount (field 32A) and beneficiary details. Source: SWIFT MT103 specification.
Details
CRED — normal credit transfer.
CRTS — credit transfer involving a test key.
SPAY — same-day priority value, payment service.
SPRI — priority payment service.
SSTD — standard payment service.
Quick facts
SWIFT field specification
Example value
:23B:CRED
Valid characters / format
4!c bank operation code
Required on MT103
Mandatory
Required on MT202
Not used
Required on pacs.008
Optional
Notes
CRED / CRTS / SPAY / SPRI / SSTD.
Key facts
Mandatory MT103 field
One of: CRED, CRTS, SPAY, SPRI, SSTD
CRED is the default for most international wires
Frequently asked questions
Which 23B code is used most?
CRED — standard customer credit transfer. SPAY/SPRI are reserved for premium same-day services agreed bilaterally between banks.
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