MT 102 Explained: Multiple Customer Credit Transfer

MT 102 bundles several individual customer credit transfers from the same ordering customer into a single SWIFT message, rather than sending a separate MT 103 for each one. It's built for bulk payments with a shared origin and value date — payroll, supplier runs, dividend distributions — where sending hundreds of near-identical single-payment messages would be wasteful.

Key fields

• 20 — Sender's Reference: Reference for the batch as a whole.
• 23 — Bank Operation Code: Identifies this as a multiple credit transfer.
• 19 — Sum of Amounts: The total of every individual payment in the batch, so the receiving bank can reconcile the whole file in one check.
• 30 — Value Date: One shared value date applies to every payment in the message.
• 21 — Transaction Reference (repeated): A unique reference per individual payment within the batch.
• 32B — Amount (repeated): Each payment's own amount, one occurrence per beneficiary.
• 50a / 59a (repeated): Ordering customer and beneficiary for each individual payment — usually the same 50a (payroll originator) repeated with a different 59a each time.
• 71A — Details of Charges (repeated): Charge allocation, set per transaction.

Despite travelling in one message, each transaction inside an MT 102 settles and is tracked individually — a discrepancy or return on one beneficiary's payment doesn't touch the others.