TREASURY SERVICES
2024 Global Wires Payments Formatting Requirements Guide
Your Guide to Making Cross-Currency Payments in over 160 Countries with Ease
2023 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
This guide is provided to JPMorgan Chase & Co clients for informational purposes only. JPMorgan Chase & Co makes no representations or warranties as to the accuracy,
completeness or timeliness of the information in this form. Information contained in the form is subject to change without notice.
The J.P. Morgan Global Wires Payments Formatting Requirements Guide is your desktop resource to help
you make timely and accurate payments to beneficiaries around the world.
Work with J.P. Morgan to get the global payment support that
your business demands
With employees, suppliers and operations located around the
globe, ensuring prompt payments in multiple currencies is a
challenge. Your business requires a partner who takes the
time to understand your needs and helps ensure your
payments are processed smoothly.
As one of the top-ranked cash management and payments
processors in the world, J.P. Morgan is able to offer the tools
that help you manage your day-to-day global operations,
along with your more sophisticated foreign exchange needs.
We make your priorities ours and recommend the high
quality solutions that meet your unique requirements.
As part of J.P. Morgan’s commitment to you, it is our
pleasure to provide you with this desktop companion, which
provides important, country-specific information to help
treasury and accounts payable professionals manage their
payments around the world. We look forward to providing
you with solutions that help take the complexity out of
managing your global cash and payments.
Note
If a capital payment of any description (loan services, capital
injection, investment, etc.) or any type of payment that may
result in a future repatriation is required, please contact your
JP Morgan Chase & Co representative before execution of the
transaction. Local regulations may require completion of
additional documentation and not all payment types can
necessarily be supported.
Setting up your payment
It is best practice to include the below standard information
in payment instructions to avoid potential delays or returns:
Ordering Customer
Account number
Full name (no initials)
Full address
Street address (avoid P.O. Box numbers)
City
State Code
Postal Code
Country code (2 characters)
Beneficiary Customer
Account number
Include the International Bank Account Number (IBAN) or Clave
Bancaria Estandarizada (CLABE), if applicable
Full name (no initials)
Full address
Street address (avoid P.O. Box numbers)
City
State Code
Postal Code
Country code (2 characters)
Beneficiary Bank
Full bank name
Address
SWIFT BIC
Some countries may also require additional information (i.e.,
telephone number, purpose of payment, routing codes, etc.).
Failing to provide all required information may result in
payment delays or returns.
Cross-Border Payment Requirement
Intermediary banks are often used when a payment is made
in a currency that is different from the local currency. When
making a payment through an intermediary bank, their
SWIFT BIC must be included.
Key Terms
International Bank Account Number (IBAN)
The International Bank Account Number, IBAN, is an
internationally agreed standard to identify an individual’s
account at a financial institution. IBANs should be included
for all SEPA payments. SWIFT maintains an IBAN registry
(https://www.swift.com/swift-resource/9606/download)that
provides details on the IBAN structure. The structure consists
of a two-letter ISO country code, followed by two check digits
and up to 30 alphanumeric characters for the Basic Bank
Account Number (BBAN).
Routing Codes
Some countries require the inclusion of national routing
codes to facilitate routing within the country’s payment
systems. Examples of countries with routing codes are
Australia and Canada.
SWIFT BIC
SWIFT BIC is a bank identifier code for members of the SWIFT
network. Please note: If a branch BIC is not known, the full
name and address should be used.
Host-to-Host Formatting Assistance
For translation assistance between SWIFT and file based
formats, please reference the table on page 77
ISO 20022 (PACS) Formatting Assistance
For translation assistance between SWIFT MT and SWIFT MX
formats, please reference the table on page 77
| 2
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Table of Contents
Afghanistan.................................. 4
Albania
Algeria
Andorra........................................ 5
Angola
Anguilla
Antigua and Barbuda ................... 6
Argentina
Armenia
Australia....................................... 7
Austria
Azerbaijan
Bahamas ...................................... 8
Bahrain
Bangladesh
Barbados ...................................... 9
Belarus
Belize ......................................... 10
Belgium
Benin
Bermuda ....................................11
Bolivia
Bosnia and Herzegovina
Botswana.................................... 12
Brazil
Brunei-Darussalam..................... 13
Bulgaria
Burkina Faso .............................. 14
Burundi
Cambodia
Cameroon................................... 15
Canada
Cape Verde................................. 16
Cayman Island
Central African Republic............. 17
Chad
Chile
China.......................................... 18
Colombia .................................... 19
Costa Rica................................... 20
Croatia
Cyprus
Czech Republic (Czechia) ........... 21
Denmark
Djibouti ...................................... 22
Dominica
Dominican Republic
Egypt.......................................... 23
Equatorial Guinea
Eritrea
Estonia ....................................... 24
Ethiopia
Fiji
Finland ....................................... 25
France
Gabon
Gambia....................................... 26
Georgia
Germany
Ghana......................................... 27
Greece
Grenada
Guatemala.................................. 28
Guinea-Bissau
Guinea Republic
Guyana ....................................... 29
Haiti
Honduras
Hong Kong.................................. 30
Hungary
Iceland ....................................... 31
India
Indonesia ...................................
32
Iraq ............................................ 33
Ireland ....................................... 34
Israel
Italy
Ivory Coast ................................. 35
Jamaica
Japan
Jordan........................................ 37
Kazakhstan
Kenya......................................... 38
Kuwait
Kyrgyzstan
Laos ........................................... 39
Latvia
Lesotho
Liechtenstein ............................. 40
Lithuania
Luxembourg
Macau ........................................ 41
Madagascar
Malawi
Malaysia ..................................... 42
Maldives..................................... 44
Mali
Malta
Mauritania.................................. 45
Mauritius
Mexico
Mongolia
Monaco ...................................... 46
Montenegro
Montserrat
Morocco ..................................... 47
Mozambique
Myanmar
Namibia...................................... 48
Nepal
Netherlands
Netherlands Antilles - Curacao... 49
New Zealand
Nicaragua
Niger .......................................... 50
Nigeria
Norway
Oman ......................................... 52
Pakistan
Papua New Guinea ..................... 53
Paraguay
Peru ........................................... 53
Philippines
Poland........................................ 54
Portugal
Qatar.......................................... 55
Republic of the Congo
Romania
Russia ........................................ 56
Rwanda ...................................... 58
Saint Kitts and Nevis
Saint Lucia ................................. 59
Saint Vincent and the Grenadine
Samoa
San Marino................................. 60
São Tomé and Príncipe
Saudi Arabia
Senegal ...................................... 61
Serbia
Seychelles .................................. 62
Sierra Leone
Singapore
Slovakia ..................................... 63
Slovenia
Solomon Islands......................... 64
South Africa
South Korea
Spain.......................................... 65
Suriname
Sweden
Tahiti
Taiwan
Tonga
Turkey
Uganda
Vanuatu
Vietnam
Sri Lanka.................................... 66
Swaziland (Eswatini).................. 67
Switzerland................................ 68
Tanzania .................................... 69
Thailand..................................... 69
Togo........................................... 70
Trinidad and Tobago
Tunisia ....................................... 71
Ukraine ...................................... 72
United Arab Emirates
United Kingdom ......................... 74
United States ............................. 74
Zambia....................................... 76
Host-to-Host Format Assistance .76
Version Control...........................77
| 3
2024 Global Wires Payments Formatting Requirements Guide
Last Updated: February 16, 2024
Afghanistan
AFN – Afghan Afghani,
currently suspended
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Payment Formatting Rules for AFN
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxAFxx or
xxxxAFxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Currently Suspended for Payments
Additional Information
The local market is closed on Fridays.
Albania
ALL – Albanian Lek
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bankofalbania.org.
Country Requirements/Restrictions
Additional Documentation: For tax payments, the taxpayer must
provide a declaration form to the beneficiary bank.
Payment Formatting Rules for ALL
Ordering Customer(SWIFT MT103 F50): Include account number,
full name (no initials), and address of the ordering customer. Use
of initials can delay receipt of funds by the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes for Albania for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxALxx or
xxxxALxxxxx.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Albania must be
included in the payment instructions.
Account # Ex. 1234567891234567
Country Code AL
Structure AL2!n8!n16!c
Length 28!c
Electronic Format Ex. AL98765432191234567891234567
Print Format Ex. AL98 7654 3219 1234 5678 9123 4567
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
For utility payments, the client’s name, month of the utility bill, and
contract number of the subscriber is required.
For tax payments, the FDP (payment order document generated by
Tax Office system) is required.
For custom fee payments, the NIPT (tax identification number) is
required.
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Algeria
DZD – Algerian Dinar
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
As of September 2019, Payments to individuals cannot be made in
DZD. Any DZD wire or FX ACH payment to individuals will result in a
rejection.
Country Requirements/Restrictions
Payment Restrictions: Any payment flows to individual
beneficiaries (B2P and P2P) must be pre-approved onshore before
the trade is booked.
Formatting Rules for DZD
Ordering Customer(SWIFT MT103 F50): Include account number,
full name (no initials), and address of the ordering customer. Use
of initials can delay receipt of funds by the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name, and address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxDZxx or
xxxxDZxxxxx.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
As best practice, format account numbers for beneficiaries with
accounts in Algeria according to the below specifications whenever
possible.
Country Code DZ
Length 22!c
Format DZ + 20 characters
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
For invoices, the reason for the invoice must be indicated (e.g.
invoice for health services).
Additional Information
The local market is closed on Fridays.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 4
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Andorra
Angola
Anguilla
EUR – Euro
AOA – Angolan Kwanza
XCD – East Caribbean Dollar
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Country Requirements/Restrictions
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards do not apply for
euro payments to beneficiaries with accounts in Andorra.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name, and address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxADxx or
xxxxADxxxxx.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Andorra must be
included in the payment instructions.
Account # Ex 1234567891234567
Country Code AD
Structure AD2!n4!n4!n12!c
Length 24!c
Electronic Format Ex. AD9876541234567891234567
Print Format Ex. AD98 7654 1234 5678 9123 4567
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Additional Documentation: Additional supporting documentation
may be required from the beneficiary.
Payment Formatting Rules for AOA
Ordering Customer(SWIFT MT103 F50): Include account number,
full name (no initials), and address of the ordering customer. Use
of initials can delay receipt of funds by the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxAOxx or
xxxxAOxxxxx.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Account numbers must be formatted according to the below
specifications.
Country Code AO
Length 25!c
Format AO + 2 characters + 21 digits
• Reason for Payment (SWIFT MT103 F70): Purpose of
payment is required. All AOA payments must include a 6
-
character purpose of payment code along with a Beneficiary
taxpayer number (NIF number, 10 characters for corporates
and 14 characters for individuals). This information can now be
formatted in either Field 70 or Field 72 and can follow one of
the below formats. Please ensure that your MT103 only
contains one of these formats:
– Format 1: /POP/XXX.XX/NIF/XXXXXXXXXX or
– Format 2: /BENEFRES/AO/XXX.XX/XXXXXXXXXX with XXX.XX
denoting the relevant purpose of payment code and
XXXXXXXXXX denoting the NIF (Taxpayer number)
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.eccb-centralbank.org.
Payment Formatting Rules for XCD
Ordering Customer(SWIFT MT103 F50): Include account number,
full name (no initials), and address of the ordering customer. Use
of initials can delay receipt of funds by the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxAIxx or
xxxxAIxxxxx.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
Payments where the underlying remitter is an MSB or PSP are not
supported.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 5
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Antigua and Barbuda
Argentina
Armenia
XCD – East Caribbean Dollar
ARS – Argentine Peso
AMD – Armenian Dram
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.eccb-centralbank.org.
Payment Formatting Rules for XCD
Ordering Customer(SWIFT MT103 F50): Include account number,
full name (no initials), and address of the ordering customer. Use
of initials can delay receipt of funds by the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxAGxx or
xxxxAGxxxxx.
Payments to BIC NOSCAGAGXXX will not be processed as it’s no
longer available.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
Payments where the underlying remitter is an MSB or PSP are not
supported.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, CBU, 11-digit CUIT tax identification code, beneficiary
email address, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bcra.gov.ar.
Country Requirements/Restrictions
Additional Documentation: Additional supporting documentation
may be required from the beneficiary stating the reason for
payment. The beneficiary must complete all required
documentation at their local bank to receive credit into the
account.
Payment Formatting Rules for ARS
Ordering Customer(SWIFT MT103 F50): Include account number,
full name (no initials), and address of the ordering customer. Use
of initials can delay receipt of funds by the beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include the account
number (CBU), full name (no initials), address and tax ID of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
CBU (Clave Bancaria Uniforme) is a unique key comprised of 22
numbers representing the bank ID, branch account number and
other details. The CBU is required in all electronic payments in
Argentina, and should be entered in the account number field of
the payment instructions.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxARxx or
xxxxARxxxxx.
Reason for Payment (SWIFT MT103 F70):
– Purpose of Payment code and/or reason for payment freeform
text is mandatory to prevent delays or rejection.
– The beneficiary’s 11-digit tax identification code (CUIT – tax ID
for corporates / CUIL – tax ID for individuals) is required to
avoid payment delays or returns
Additional Information
Payment will be rejected if it does not include complete and
correct delivery instructions.
Payments to Judicial accounts (Depositors Judiciales) are not
supported
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.cba.am/en.
Country Requirements/Restrictions
Additional Documentation: Beneficiary is required to provide
supporting documentation indicating the reason for payment for
transactions greater than 20 million AMD.
Payment Formatting Rules for AMD
Ordering Customer(SWIFT MT103 F50): Include account number,
full name (no initials), and address of the ordering customer. Use
of initials can delay receipt of funds by the beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include bank code (3
digit numeric bank code in front of beneficiary account number),
account number, full name (no initials) and address, of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary. Bank codes are required to be added in front of all
beneficiary account numbers.
Include the full legal entity type of the beneficiary (e.g., corporate,
charity).
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxAMxx or
xxxxAMxxxxx.
For payments to Central Bank of Armenia (CBRAAM22XXX), the
following information is required:
Residency of the customer (1 for resident ; 2 for nonresident)
Legal status of the customer (11 for commercial organization; 12 for
non-profit organization; 21 for individual; 22 for individual
entrepreneur)
TIN 10 digits (for Legal entity or Individual Entrepreneur) or Social
card (for individual)
Name of the customer
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
mandatory.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 6
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Australia
Austria
Azerbaijan
AUD – Australian Dollar
EUR – Euro
AZN - Azerbaijani Manat
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, BSB number, account number and beneficiary bank
address).
Central Bank: For additional information, please refer to
www.rba.gov.au.
Country Requirements/Restrictions
Payment Restrictions: AUD is a freely traded currency for both
onshore and offshore clearing.
Payment Formatting Rules for AUD
Ordering Customer(SWIFT MT103 F50): For all transactions in
and out of Australia, including those paid through an intermediary
bank, include account number, full name (no initials), and address
of the ordering customer. Failure to provide full ordering customer
details may result in payment delays.
Include city, state, country and postal code for the ordering
customer’s address. P.O. Box numbers are not permitted.
Beneficiary Customer (SWIFT MT103 F59): For all transactions in
and out of Australia, including those paid through an intermediary
bank, include account number, full name (no initials) and address
of the beneficiary customer. Failure to provide full beneficiary
customer details may result in payment delays.
Include city, state, country and postal code for the beneficiary
customer’s address. P.O. Box numbers are not permitted.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
Australian banks are identified by a 6-digit Bank State Branch
(BSB) number where the first two digits specify the bank, the third
digit specifies the state, and the last three digits specify the branch
(e.g. 112-908). BSB numbers must be included in the ordering
details (for payments out of Australia) and beneficiary details (for
payments into Australia). For detailed payment message field
where BSB numbers must be included, please refer to XLSX
version of the JPM Global Wires Payments Formatting Guide
. Refer
to the Australian Payments Clearing Association website
(www.apca.com.au) for list of current BSBs.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxAUxx or
xxxxAUxxxxx.
Additional Information
Banks are required to report to the local regulator, AUSTRAC, on
any international funds transfers to or from Australia in any
currency including those transactions paid through an
intermediary bank. For more information on bank reporting
regulations, refer to the AUSTRAC website www.austrac.gov.au
.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.oenb.at/en.
Country Requirements/Restrictions
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Austria.
Payment Formatting Rules for EUR
Ordering Customer(SWIFT MT103 F50): Include account number,
full name (no initials), and address of the ordering customer. Use
of initials can delay receipt of funds.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), and address of the
beneficiary customer. Use of initials may delay receipt of funds.
IBAN numbers for beneficiaries with accounts in Austria must be
included in the payment instructions.
Account # Ex ABC 12345 Abc 678912345
Country Code AT
Structure AT2!n5!n11!n
Length 20!c
Electronic Format Ex. AT981234567891234567
Print Format Ex. AT98 1234 5678 9123 4567
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes in this country for cross-
border payments. SWIFT BIC is key to routing payments.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxATxx or
xxxxATxxxxx.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Payments to non-resident beneficiaries are classified in 2
categories: taxpayer and non-taxpayer
a) Taxpayer non-resident (having Azerbaijani tax ID) can receive
funds from a legal entity abroad showing clear purpose of
transfer
b) Non-taxpayer non-resident can only receive `financial aid`
from abroad with supporting documents.
c) Non-resident legal entity (taxpayers) can receive funds from
abroad only with supporting documents (invoice, contract,
other real business papers).
Payment Formatting Rules for AZN
Ordering Customer(SWIFT MT103 F50): Include account number,
full name (no initials), and address of the ordering customer. Use
of initials can delay receipt of funds by the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include beneficiary bank’s
correspondent AZN account number, beneficiary bank’s tax
identification number (TIN/VOEN), 6 digit BIK code, SWIFT BIC with
branch identifier (where required), full name,
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxAZxx or
xxxxAZxxxxx
Beneficiary Customer (SWIFT MT103 F59): Include account
number
(IBAN), 10 digit tax identification number (TIN/VOEN) , full name
(no initials) and full address of the beneficiary customer . Use of
initials may delay receipt of funds by the beneficiary. Tin/VOEN is
not required for individual.
IBAN numbers for beneficiaries with accounts Azerbaijan must be
included in the payment instructions.
Account # Ex 123456789123745678912345
Country Code AZ
Structure AZ2!n24
Length 28!c
Electronic Format Ex. AZ98123456789123745678912345
Print Format Ex. AZ98 1234 5678 9123 7456 7891 2345
Reason for Payment (SWIFT MT103 F70): In depth purpose of
payment must be provided. If the payment is for charitable
purposes, this must be clearly stated, or the beneficiary maybe
subject to a tax charge for income received.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 7
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Bahamas
Bahrain
Bangladesh
BSD – Bahamian Dollar
BHD – Bahraini Dinar
BDT – Bangladeshi Taka
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.centralbankbahamas.com.
Payment Formatting Rules for BSD
Ordering Customer(SWIFT MT103 F50): Include account number,
full name (no initials), and address of the ordering customer. Use
of initials can delay receipt of funds by the beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxBSxx or
xxxxBSxxxxx.
Where the beneficiary bank is “RBC Bahamas”, Transit Number is
required and should be updated in Field 70 (e.g. TRANSIT NUMBER:
XXXXX). Contact your J.P. Morgan Service Representative for a list
of transit numbers.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
Payments where the underlying remitter is an MSB or PSP are not
supported.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.cbb.gov.bh.
Payment Formatting Rules for BHD
Ordering Customer(SWIFT MT103 F50): Include account number,
full name (no initials), and address of the ordering customer. Use
of initials can delay receipt of funds by the beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Bahrain must be
included in the payment instructions.
Account # Ex 12345678912345
Country Code BH
Structure BH2!a4!n14
Length 22!c
Electronic Format Ex. BH98ABCD12345678912345
Print Format Ex. BH98 ABCD 1234 5678 9123 45
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxBHxx or
xxxxBHxxxxx.
Reason for Payment (SWIFT MT103 F70): 3 letter Purpose of
payment code is mandatory. This can also be included in field 72 or
77B. Example: /ORDERRES/BH//POP/[Additional Narrative].
Please refer to the “Purpose of Payment Codes” section contained
within the below link.
https://cbben.thomsonreuters.com/rulebook/mandating-use-
purpose-codes-swift-cross-border-payments4-january-2021
Additional Information:
The local market is closed on Fridays.
POP = Provide supporting purpose of payment code
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bangladesh-bank.org.
Country Requirements/Restrictions
Payment Restrictions: NGOs must register locally and obtain
approval before receiving payments for specific projects.
Account Restrictions: Account Restrictions vary.
Non-resident Foreign Currency Deposit (NFCD) accounts may now
be maintained at the account holder’s desire. Amounts brought in
by non-resident Bangladeshis can be deposited in a foreign
currency account any time after entering Bangladesh.
Foreign Currency (FC) accounts of non-resident Bangladeshis
(opened in the names of Bangladesh nationals or a person of
Bangladesh origin working or self-employed abroad) can now be
maintained as long as the account holder desires.
Residence Foreign Currency Deposit (RFCD) accounts may be
opened in US dollar, euro, pound sterling, or Japanese yen, and
may be maintained as long as the account holder desires.
Payments may be made into the account with declaration to
customs authorities on the FMJ form. A maximum of USD 5,000
may be credited into the account without declaration.
Additional Documentation: Additional supporting documentation
such as Form C may be required from the beneficiary stating the
reason for payment or providing evidence of the beneficiary’s
identity. The beneficiary must complete all required
documentation requested by their local bank or the correspondent
bank to receive credit into the account.
Declaration by their beneficiary on Form C shall not be required for
inward remittances up to USD 20,000 equivalent; BDT payments
that are larger than USD 20,000 equivalent will still require the
Form C to be submitted by the beneficiary at their bank.
Payment Formatting Rules for BDT
Ordering Customer(SWIFT MT103 F50): Include account number,
full name (no initials), and address of the ordering customer. Use
of initials can delay receipt of funds by the beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), address, and telephone number of
the beneficiary customer. Use of initials may delay receipt of funds
by the beneficiary.
(Continued on next page)
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 8
2024 Global Wires Payments Formatting Requirements Guide
Last Updated: February 16, 2024
Bangladesh
Continued
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC and 9
digit routing code if available or include full name and full address
of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxBDxx or
xxxxBDxxxxx
Beneficiary bank branch address can also be mentioned in F72 if
only Swift BIC is included in field 57. Bene Bank Branch address is
optional if the 9 digit bank routing code is provided in field 57.
In case of space limitation in field 57 and 72, Beneficiary Bank
Branch address can be mentioned in field 70.
Below formats are acceptable for beneficiary bank details:
Format 1:
57D: Bank Name
Bank address
Bene bank address contd.
Swift code
Format 2:
57A: /XXXXXXXXX (9-digit beneficiary bank branch code)
Swift code
Format 3:
57A: Swift BIC code
72: bene bank branch complete address (Should be clearly
indicated)
Format 4:
57A: Swift BIC code
72:
routing code/ BBB, bene bank branch code XXXXXXXXX (9-digit
beneficiary bank branch code).
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
The local market is closed on Fridays.
Barbados
BBD – Barbadian Dollar
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.centralbank.org.bb.
Payment Formatting Rules for BBD
Ordering Customer(SWIFT MT103 F50): Include account number,
full name (no initials), and address of the ordering customer. Use
of initials can delay receipt of funds by the beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
The beneficiary’s full address is required to avoid payment delays.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxBBxx or
xxxxBBxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
Payments where the underlying remitter is an MSB or PSP are not
supported.
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Belarus
BYN – Belarusian Ruble,
currently suspended
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.nbrb.by/engl/.
Country Requirements/Restrictions
Belarusian 'resident' beneficiary may be required to provide
supporting documentation to comply with the country’s Exchange
Control Regulations.
Taxpayer code required (UNN or UNP, INN)
Payment Formatting Rules for BYN
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxBYxx or
xxxxBYxxxxx.
Beneficiary Customer (SWIFT MT103 F59): Include bank
SWIFT/BIC Code, 28- digit account number (IBAN), full name (no
initials) and address of the beneficiary customer. Use of initials
may delay receipt of funds by the beneficiary.
IBAN numbers for beneficiaries with accounts in Belarus must be
included in the payment instructions.
Account # Ex 1234 5678 9123 4567 8912
Country Code BY
Structure BY2!n4!c4!n16!c
Length 28!c
Electronic Format Ex. BY98ABCD12345678912345678912
Print Format Ex. BY98 ABCD 1234 5678 9123 4567 8912
Reason for Payment (SWIFT MT103 F70): Detailed Purpose of
payment is mandatory.
MFO Bank Code 3-9 digits.
Tax ID required (9 digit) with prefix of “TAX ID”.
Example: “TAX ID XXXXXXXXX”
Currently Suspended for Payments
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 9
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Belize
Belgium
Benin
BZD – Belize Dollar
EUR – Euro
XOF – West African CFA Franc
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.centralbank.org.bz.
Payment Formatting Rules for BZD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
The beneficiary’s full address is required to avoid payment delays.
15 digit account number required for payments going to Belize
Bank Limited.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxBZxx or
xxxxBZxxxxx.
Branch codes must be included in field 70 when making a payment
to a beneficiary at Scotiabank.
91595 Belize City
87965 Belama
61275 Corozal
13235 Orange Walk
44685 Dangriga
01875 San Ignacio
19075 Belmopan
18895 Placencia
39065 Punta Gorda
39685 Spanish Lookout
36715 San Pedro
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.nbb.be/en.
Country Requirements/Restrictions
Payment Restrictions: There are no payment amount restrictions.
The high-valued payment system used in Belgium tends to be
limited to payments exceeding EUR 500,000. Banks may charge a
day’s float; however, companies can often obtain same-day value
settlement.
Account Restrictions: Residents and non-residents are permitted
to open and maintain domestic currency (EUR) and foreign
currency accounts both locally and abroad.
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Belgium.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Belgium must be
included in the payment instructions.
Account # Ex 123-4567891-23
Country Code BE
Structure BE2!n3!n7!n2!n
Length 16!c
Electronic Format Ex. BE98123456789123
Print Format Ex. BE98 1234 5678 9123
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes in this country for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxBExx or
xxxxBExxxxx.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Additional Documentation: Additional supporting documentation
may be required from the beneficiary.
Payment Formatting Rules for XOF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), address, and telephone number of
the beneficiary customer. Use of initials may delay receipt of funds
by the beneficiary.
It is mandatory to format account numbers for beneficiaries with
accounts in Benin according to the below specifications.
Account numbers should be 24 characters consisting of the 5
-
character bank code (including the 2 character country code) + 5
character branch code + 12 digit account number + 2 digit Clé RIB.
Country Code BJ
Length 24!c
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxBJxx or
xxxxBJxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
This country is a member of the Central Bank of West African
States.
XOF is a zero-decimal currency.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 10
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Bermuda
Bolivia
Bosnia and Herzegovina
BMD – Bermudian Dollar
BOB
– Bolivian Boliviano
BAM – Bosnia-Herzegovina Convertible Mark
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bma.bm.
Payment Formatting Rules for BMD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxBMxx or
xxxxBMxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Payment Formatting Rules for BOB
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxBOxx or
xxxxBOxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.cbbh.ba.
Payment Formatting Rules for BAM
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), address, and telephone
number of the beneficiary customer. Use of initials may delay
receipt of funds by the beneficiary.
IBAN numbers for beneficiaries with accounts in Bosnia and
Herzegovina must be included in the payment instructions. The
IBAN must start with BA39 followed by 16 digits.
Account # Ex 123-456-78912345-67
Country Code BA
Structure BA2!n3!n3!n8!n2!n
Length 20!c
Electronic Format Ex. BA391234567891234567
Print Format Ex. BA39 1234 5678 9123 4567
If the final beneficiary belongs to a government organization, the
following details must be included: budget organization code, 6-
digit profit type, and 3-digit citation number (municipality). This
information may also be provided in SWIFT MT103 F70.
The beneficiary’s telephone number is required to avoid payment
delays or return. This information may also be provided in SWIFT
MT103 F70.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxBAxx or
xxxxBAxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
BAM is settled as a EUR transfer. Therefore, the beneficiary can
choose to withdraw this currency as BAM or EUR.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 11
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Botswana
Brazil*
Brazil*
BWP – Botswana Pula
BRL – Brazilian Real–*Pre-trade Requirements
Continued
Overview Overview
Information provided by the Beneficiary: Remitter should Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g. obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address). SWIFT BIC, IBAN, beneficiary’s tax ID, email address, and
Central Bank: For additional information, please refer to
beneficiary bank address and agency code).
www.bankofbotswana.bw.
Central Bank: For additional information, please refer to
Payment Formatting Rules for BWP
www.bcb.gov.br.
Ordering Customer (SWIFT MT103 F50): Include account Country Requirements/Restrictions
number, full name (no initials), and address of the ordering
Payment Restrictions: Restrictions exist for BRL payments.
customer. Use of initials can delay receipt of funds by the Brazilian banks will convert USD and foreign receipts to local
beneficiary. currency for payment to beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account Resident and non-resident transactions involving foreign currency
number, full name (no initials) and address of the beneficiary can only be carried out through the intermediary of authorized
customer. Use of initials may delay receipt of funds by the financial institutions.
beneficiary. Brazilian Boletos Bancário is a form of payment employed within
For accounts held at First National Bank, 11-digit account numbers
Brazil. This type of payment can’t originate from or settle outside
are required.
of the country.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with 6-
USD and other foreign currencies are delivered to the Brazilian
digit branch code, full name, and address of the beneficiary bank.
bank’s correspondent in the United States.
There are no specific bank clearing codes in this country for cross-
NGOs must register locally to receive payments.
border payments. SWIFT BIC is key to routing payments to the
Additional Documentation: Additional documentation may be
beneficiary bank. required from the beneficiary stating reason for payment.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxBWxx or
The beneficiary must complete a request/authorization to allow
xxxxBWxxxxx.
their bank to exchange the foreign currency to local currency,
Reason for Payment (SWIFT MT103 F70): Purpose of payment
indicating reason/destination of funds.
must be clearly identified (rent, salary, medical expenses, office Once the trade is closed, the beneficiary must complete and sign a
expenses, charity, etc.). “contracto de cambio” (a contract of trade) within 30 days to
identify that the funds are for the beneficiary and why they are
receiving the funds.
The beneficiary must present ID and proof of address at the local
bank. NGOs need to present current registration documents at
their local bank.
Beneficiary Setup: J.P. Morgan may use third party vendors for
processing payments in certain currencies. Third party vendor will
require on-boarding for beneficiaries only for the first payment.
The following information is required:
Remitter's name
Beneficiary name, account number (IBAN), telephone number, and
email address
CNPJ (taxpayer ID) for corporations or CPF for individuals
Purpose and amount of first payment
Payment Formatting Rules for BRL
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), address, tax ID number (11
digit CPF for individuals and 14 digits CNPJ for
Corporations/NGO/Orgs), and telephone number of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary’s contact name is required.
IBAN numbers for beneficiaries with accounts in Brazil must be
included in the payment instructions.
Account # Ex 1234567891A2
Country Code BR
Structure BR2!n8!n5!n10!n1!a1!c
Length 29!c
Electronic Format Ex. BR9876543219876541234567891A2
Print Format Ex. BR98 7654 3219 8765 4123 4567 891A 2
Tax ID number (11 digit CPF for individuals and 14 digits CNPJ for
Corporations/NGO/Orgs), and telephone number of the beneficiary
customer is required to avoid payment delays or return. This
information may also be provided in SWIFT MT103 F70.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name, address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxBRxx or
xxxxBRxxxxx.
(Continued on next page)
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 12
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Brazil
Brunei
-Darussalam
Bulgaria
Continued
BND – Brunei Dollar
BGN – Bulgarian Lev
Reason for Payment (SWIFT MT103 F70): A clear purpose of
payment is mandatory and consists of a full written description of
the nature of the payment to be provided in the remittance
information (rent, salary, office expenses, etc.). Insufficient
purpose of payment may result in errors or delays.
Sender to Receiver Information (SWIFT MT103 F72): To avoid
payment delays, the beneficiary’s email address should be
included. Please replace ‘@’ with ‘_AT_’ (blank space before and
after ‘_AT_’) for smooth processing. Sample Format: /INT/name AT
jpmchase.com.
Additional information:
Payments to beneficiaries who hold an account with Ourinvest
Bank,
Maxima Bank, Travelex, Topazio Bank, Confidence Bank and Bex
Bank is no supported.
Transaction size limit of payments less than or equal to USD
3,000.00 or a maximum of USD18,000.00 in total, per calendar
year, per tax ID without requiring the full Cadastro setup. This
used to be a lifetime limit in the past and has been changed to a
yearly limit. Exceptions to this rule now include NGOs, law offices,
exporters, tourism offices, loan and capital injections. These types
of beneficiaries will require complete Cadastro for all payments.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Payment Formatting Rules for BND
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address (street address, city,
and country) of the beneficiary customer. Use of initials may delay
receipt of funds by the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxBNxx or
xxxxBNxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional information:
Payments to Broker deals and football/ soccer teams are not
supported
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bnb.bg.
Country Requirements/Restrictions
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Bulgaria.
Payment Formatting Rules for BGN
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address, of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Bulgaria must be
included in the payment instructions.
Account # Ex BG98 ABCD 1234 5678 9123 45
Country Code BG
Structure BG2!n4!a4!n2!n8!c
Length 22!c
Electronic Format Ex. BG98ABCD12345678912345
Print Format Ex. BG98 ABCD 1234 5678 9123 45
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxBGxx or
xxxxBGxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended. If the payment is for tax budgetary purposes,
always state one of the following as well as the 6-digit payment
type defined by the Ministry of Finance and local regulation.
BULSTAT (Bulgarian Identification Tax Number) is a 6-digit number
for the registration of a company.
EGN is the personal identification number of the Bulgarian citizen.
PNF is the personal number of the foreign citizen.
IZL is the name of the legal entity or private individual’s full name.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 13
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Burkina Faso
Burundi
Cambodia
XOF
– West African CFA Franc
BIF – Burundian Franc
KHR – Cambodian Riel
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Additional Documentation: Additional supporting documentation
may be required from the beneficiary.
Payment Formatting Rules for XOF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), address, and telephone number of
the beneficiary customer. Use of initials may delay receipt of funds
by the beneficiary.
It is mandatory to format account numbers for beneficiaries with
accounts in Burkina Faso according to the below specifications.
Account numbers should be 24 characters consisting of the 5
-
character bank code (including the 2 character country code) + 5
character branch code + 12 digit account number + 2 digit Clé RIB.
Country Code BF
Length 24!c
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxBFxx or
xxxxBFxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
This country is a member of the Central Bank of West African
States.
XOF is a zero-decimal currency.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Payment Formatting Rules for BIF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include 11-digit format
account number, full name (no initials), and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxBIxx or
xxxxBIxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
BIF is a zero decimal currency.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.nbc.org.kh.
Payment Formatting Rules for KHR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxKHxx or
xxxxKHxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information:
Tax payments in KHR can be processed to the General Department of
Taxation (GDT). Before sending the tax payment, please reach out to
your JPM representative for more information and include the
relevant P101 Document for the payment. Please note that the
deadline for tax payment is on the 25th of each month. Therefore, the
payment should be sent before the 25th of the month.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 14
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Cameroon
Canada
Canada
XAF
– Central African CFA Franc
CAD – Canadian Dollar
Continued
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Additional Documentation: Additional supporting documentation
may be required from the beneficiary.
Payment Formatting Rules for XAF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), address (street name, city, country,
and postal code), and telephone number of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Account numbers should be 23 digits. The RIB code consists of the
5 digit bank code + 5 digit branch code + 11 digit account number +
2 digit key. IBAN format is accepted but not mandatory.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name, and address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxCMxx or
xxxxCMxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
This country is a member of the Bank of Central African States.
XAF is a zero decimal currency.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
Canadian bank branch routing number, SWIFT BIC code and
beneficiary bank address). Absence of this information may result
in delays or returns.
Central Bank: For additional information, please refer to
www.bankofcanada.ca.
Country Requirements/Restrictions
Currency and Clearing Information: Canada has well-developed
high-value and low-value electronic payment systems.
Account Restrictions: Residents and non-residents can hold both
domestic and foreign currency accounts. Most Canadian banks
offer accounts in USD.
Canada’s “Proceeds of Crime (Money Laundering) and Terrorist
Financing Act” and related regulations impose an obligation on all
Canadian financial institutions, including J.P. Morgan, to obtain
certain information for wire payments transmitted in a SWIFT
103/103+ format and SWIFT MT101s that result in the SWIFT MT103
format. In order to comply with these regulatory requirements,
J.P. Morgan will require complete order party/beneficiary
information to be included in any wire payments that are sent or
received through your accounts with us in Canada.
Complete order party/beneficiary information includes: full
account name, full account number, full beneficiary bank name,
the SWIFT BIC code, and full physical address information. A full
physical address must include: street number, street name, city or
town, state or province where applicable, and country, preferably
in the 2-character ISO format.
In circumstances where a street number is not assigned to a physical
location, a description of the location, such as a building and street
name, may be acceptable. A P.O. Box is not acceptable without a full
physical address. State or province is also required for all U.S. and
Canada addresses and for other countries, where applicable. Some
Canadian banks also require the Canadian Clearing Code to avoid
delays in processing.
The ideal size of the mandatory fields for ordering
party/beneficiary full account name is 35 characters. For the
mandatory ordering party/beneficiary address, full physical
address components should fit into the rest of the 3 lines with 35
characters in each line. Where the beneficiary name exceeds one
line, the full beneficiary name and full address should fit in 4 lines.
The address information should not overflow into other fields to
avoid delays or rejection.
Financial institutions may reject or delay your wires if the required
information is not provided or address information does not
include a full physical address in the mandatory fields.
Payment Formatting Rules for CAD
Ordering Customer (SWIFT MT103/MT101 F50): For MT103 wire
payments debiting a non-FCB
1
client account, the JPMorgan wire
engine will enhance the account name and address from account
records. For all other MT103MT101 formatted wire transactions in
and out of Canada, including those paid through an intermediary
bank, include account number, full name (no initials), and full
physical address of the ordering customer. Use of initials can delay
receipt of funds by the beneficiary.
Beneficiary Customer (SWIFT MT103 or MT101 resulting in a
SWIFT MT103 F59): For all transactions in and out of Canada,
including those paid through an intermediary bank, include
account number, full name (no initials), full physical address, and
telephone number of the beneficiary customer. Use of initials may
delay receipt of funds by the beneficiary.
When paying CAD to a beneficiary who holds an account with Royal
Bank of Canada or the Bank of Nova Scotia, the account number
should be 12 digits.
Telephone number of the beneficiary may also be provided in
SWIFT MT103 F70
(Continued on next page)
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 15
2024 Global Wires Payments Formatting Requirements Guide
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Last Updated: February 16, 2024
Canada
Cape Verde
Cayman Island
Continued
CVE – Cape Verdean Escudo
KYD– Cayman Island Dollars
Beneficiary Bank (SWIFT MT103 F57): Include the SWIFT BIC and
the Canadian bank branch routing number
2
, or, where BIC and
Routing Code is not provided by the counterparty, the full name,
and full physical address of the beneficiary bank as an alternative,
although, the payment may fall into repair. It is recommended by
JPMorgan that the bank’s SWIFT BIC is provided, and, where
applicable, the Canadian Clearing Code is provided for CAD
payments. Where the SWIFT BIC is not provided, the wire payment
may fall into repair.
It is recommended by Payments Canada that the Canadian Clearing
Code or routing code be used for payments denominated in CAD.
The 9-digit routing number is made up of the Direct Payment
Routing Number (4 digits) and the Branch Transit Number (5
digits). The structure is //CC followed by nine digits. Example:
//CC123412345.
Where applicable, the beneficiary bank address and/or transit
number identifies which internal branch account the main bank
should direct the funds to.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxCAxx or
xxxxCAxxxxx.
Wire receipts for credit to a Canadian corporate account need to be
received by JPMorgan Toronto in the swift MT103 format due to
Canadian regulatory reporting obligations. If they are received in the
MT202 format for credit to a corporate-owned account, the wire
receipt in the MT202 format will be rejected and will have to be resent
by the counterparty in the SWIFT MT103 format.
1
FCB means Foreign Correspondent Bank
2
Canadian Clearing Code is mandatory for Laurentian Bank, National
Bank, Desjardins, CIBC & Meridian Bank, Manulife Bank, State Street
Bank
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bcv.cv.
Payment Formatting Rules for CVE
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxCVxx or
xxxxCVxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Payment Formatting Rules for KYD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and full address (Mandatory). Use of
initials may delay receipt of funds by the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name, and address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxKYxx or
xxxxKYxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
Payments are processed onshore as draft payments.
Payments where the underlying remitter is an MSB or PSP are not
supported.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 16
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Central African Republic
Chad
Chile
XAF – Central African CFA Franc
XAF
– Central African CFA Franc
CLP – Chilean Peso
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Additional Documentation: Additional supporting documentation
may be required from the beneficiary.
Payment Formatting Rules for XAF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), address and telephone number of
the beneficiary customer. Use of initials may delay receipt of funds
by the beneficiary.
Account numbers should be 23 digits. The RIB code consists of the
5-digit bank code + 5-digit branch code + 11-digit account number +
2-digit key.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name, and address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxCFxx or
xxxxCFxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
This country is a member of the Bank of Central African States.
XAF is a zero-decimal currency.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Additional Documentation: Additional supporting documentation
may be required from the beneficiary.
Payment Formatting Rules for XAF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), address and telephone number of
the beneficiary customer. Use of initials may delay receipt of funds
by the beneficiary.
Account numbers should be 23 digits. The RIB code consists of the
5-digit bank code + 5-digit branch code + 11-digit account number +
2-digit key.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name, and address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxTDxx or
xxxxTDxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
This country is a member of the Bank of Central African States.
XAF is a zero-decimal currency.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, beneficiary’s email address, tax ID
number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bcentral.cl/eng.
Country Requirements/Restrictions
Payment Restrictions:
FX payments can only be made to onshore residents with an in-
country presence.
Import payments and export transactions above USD 5 million per
year must be reported to the Banco Central de Chile.
Account Restrictions: Residents and non-residents can open and
maintain foreign currency accounts domestically and abroad.
Foreign currency accounts held at commercial banks require
certification of domicile and a tax identification number.
Additional Documentation: Additional supporting documentation
may be required from the beneficiary.
NGOs need to present current registration documents at their local
bank.
Payment Formatting Rules for CLP
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), address, and tax ID of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
There are no specific beneficiary account number requirements in
this country.
Include the beneficiary’s 9-digit RUT (tax ID) number. This
information is required to avoid payment delays or return. This
information may also be provided in SWIFT MT103 F70.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes in this country for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxCLxx or
xxxxCLxxxxx.
(Continued on next page)
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 17
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Chile
China
China
Continued
CNY – Chinese Yuan/Renminbi
Continued
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
mandatory. Please refer to the Central Bank of Chile purpose of
payment codes (pg 7-11)
https://www.bcentral.cl/documents/33528/133521/Manual+de+Pro
cedimientos+y+Formularios+de+Informaci%C3%B3n+del+CNCI.pdf
/bcdfb774-330a-c6e1-b9fd-1b5e2c078426?t=1583165824643
Sender to Receiver Information (SWIFT MT103 F72): To avoid
payment delays from an account outside of the United States, the
beneficiary’s email address should be included. Please replace ‘@’
with ‘_AT_’ (blank space before and after ‘_AT_’) for smooth
processing. Sample Format:
/INT/name AT jpmchase.com.
Additional Information
CLP is a zero-decimal currency.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.pbc.gov.cn.
Country Requirements/Restrictions (On-Shore CNY)
Payment Restrictions: This is a restricted currency. Restricted
currency payments must include all required information, or they
will be canceled.
Beneficiary must have been activated in RCPMIS, the central bank
reporting system, by its local bank before it can conduct any CNY
cross-border transaction for the first time.
For corporations, payments can be for merchandise, service trade,
other current account items (i.e., operating expenses) and
approved capital activities.
Account Restrictions: Non-resident companies require approval
from the People’s Bank of China (PBOC) for the opening of CNY
settlement account in China.
Additional Documentation: Supporting documents are not
required for outgoing payments if the payment bank allows
document simplification. Local regulatory reporting applies to all
cross-border payments.
If requested, the beneficiary must provide the local bank with
supporting documentation to validate the underlying transaction
and receive credit into the account.
Country Requirements/Restrictions (Off-Shore CNY)
Currency & Clearing Information: The official ISO currency code for
payments is CNY. It is used as the official code to denominate
payments and accounts. CNH is the informal currency term used in
the off-shore markets, and denotes the foreign exchange rate for
the renminbi traded in the off-shore markets.
Hong Kong is by far the largest renminbi off-shore market due to
its early participation in the renminbi international trade
settlement scheme and the development of a domestic RMB
clearing system (CHATS) where the Bank of China (Hong Kong) is
the settlement institution.
Payment Restrictions: Since the liberalization of the currency, the
renminbi can be used globally as a trade settlement currency in
off-shore jurisdictions (outside mainland China).
Like the other off-shore markets in New York, Singapore, Tokyo,
and London, no specific regulatory restrictions are imposed on
payment initiation and FX in CNH. However, payments involving FX
for CNY rate (the on-shore renminbi rate) are subject to
restrictions.
Only merchandise trades with China to be settled within three
months are eligible to contract the CNY rate.
Receipt of cross-border CNY remittance to personal accounts in
China is not supported.
Account Restrictions: Like the other off-shore markets in New
York, Singapore, Tokyo, and London, there are no specific
regulatory restrictions imposed on account opening.
Additional Documentation: Supporting documentation may be
requested from the beneficiary to substantiate an FX trade.
Foreign Currency Payment into Mainland China Foreign Currency
Current & Capital Accounts
Foreign currency accounts in China are purpose based. Current
and capital accounts are the most common on-shore foreign
currency accounts.
Current accounts are for normal pay/receive activities. Capital
accounts are reserved for capital injection.
Capital account opening can be done based on one-off registration
with local regulator. Balance limit is capped at the amount of the
approved investment. FX from renminbi to another foreign
currency must be supported by documentation detailing the
nature/purpose of the exchange.
Foreign currency receipts of any amount are subject to explanation
on nature/purpose of payment.
Payment Formatting Rules for CNY
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
(Continued on next page)
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 18
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
China
Colombia
Colombia
Continued
COP – Colombian Peso
COP – Colombian Peso
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), address, and as best practice,
telephone number of the beneficiary customer. Use of initials or
beneficiary name mismatches may delay receipt of funds by the
beneficiary.
The provided beneficiary name should be exactly the same as the
information registered in China’s central bank information system
(RCPMIS).
Beneficiary Bank (SWIFT MT103 F57): Include the SWIFT BIC and
full name and address of the beneficiary bank. Failing to provide
beneficiary bank name and address could result in payment mid-
routing and delays.
If SWIFT BIC is not available or the ordering customer is sending
local currency within China, include the full name and address of
the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxCNxx or
xxxxCNxxxxx.
Sender to Receiver Information (SWIFT MT103 F72): A purpose
of payment code is mandatory and must be included on its own
line in F72 for cross-border China-bound CNY payments. The
purpose of payment code should be formatted as
/ACC/PURPOSE/XXX or /ACC/XXX. Where XXX is the 3 letter
code(Can be included in field 70).
Code Description
/CAP/ Capital Account
/GDS/ Goods Trade
/SRV/ Service Trade
/CAC/ Current Account
/FTF/ Bank to Bank Funds Transfer
The purpose description (optional) can be added in line 2 or in
SWIFT MT103 F70.
J.P. Morgan will reject without prior notice any China bound cross-
border payment instructions missing purpose of payment codes.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, beneficiary bank address, and
beneficiary’s tax ID, email address, and telephone number).
Central Bank: For additional information, please refer to
www.banrep.gov.co/en.
Country Requirements/Restrictions
Payment Restrictions: The beneficiary must have an in country
presence to receive COP FX payments.
Additional Documentation: Supporting documentation may be
required from the beneficiary to receive credit into the account.
Anti-money laundering regulations require supporting
documentation declaring the source of the funds when dealing
with the FX desk.
The beneficiary is required to sign and return the two forms noted
before 1:00 p.m. local time for funds to be received by 5:00 p.m.
local time. Declaration form provided by the Central Bank of
Colombia must contain the U.S. dollar amount that the third party
vendor is sending to fund the payment. Letter of Instruction must
also contain the U.S. dollar amount that the vendor is sending to
fund the payment.
Payment Formatting Rules for COP
Ordering Customer (SWIFT MT103 F50): Include account number,
full name (no initials), and address of the ordering customer. Use
of initials can delay receipt of funds by the beneficiary.
Include full address, city, and country of the ordering customer.
Beneficiary Customer (SWIFT MT103 F59): For payments in all
currencies, include account number, full name (no initials),
address, 10-digit ‘NIT’ for corporate tax IDs and 7-11-digit ‘Cédulas’
for individual tax IDs and telephone number of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Include full address, city, and country of the beneficiary customer.
In addition to the account number, account type it is required by
local clearing. Accounts types must be included as follows:
Checkings: “CACC” / Savings: “SVGS” / Electronic Deposit: “OTHR”.
This information may also be provided in SWIFT MT103 F70.
The beneficiary’s 10-digit ‘NIT’ for corporate and 7-11-digit 'Cédulas'
number for individual and telephone number is required to avoid
payment delays or return. This information may also be provided
in SWIFT MT103 F70.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes in this country for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxCOxx or
xxxxCOxxxxx.
Sender to Receiver Information (SWIFT MT103 F72): To avoid
payment delays, the beneficiary’s email address should be
included. Please replace ‘@’ with ‘_AT_’ (blank space before and
after ‘_AT_’) for smooth processing. Sample Format: /INT/name AT
jpmchase.com.
Reason for Payment (SWIFT MT103 F70):
Purpose of payment is mandatory and must be clearly identified
(goods, services, capital, etc.).
Additional Information: In-country beneficiary banks supported
for COP FX payments include:
Banco AV Villas (only payments less than 10,000 USD equivalent)
-
BAVICOBB,
Banco de Bogota – BBOGCOBB ,
Bancolombia- COLOCOBM,
Banco de Occidente - OCCICOBCBO2,
BBVA Colombia - GEROCOBB,
Citibank - CITICOBB,
Banco Caja Social BCSC / CASOCOBB (only payments less than
10,000 USD equivalent),
BBVA Colombia – GEROCOBB
Banco Davivienda – CAFECOBBXXX,
Itaú Corpbanca Colombia – BCTOCOBB ,
Banco Santander- SANTCOBBXXX,
Banco GNB Sudameris – BSUDCOBB
Banco Colpatria (only payments less than 10,000 USD equivalent) -
COLPCOBB
For payment below USD 10,000 COP: Beneficiary will have to
accept the funds by filling out the appropriate forms on shore with
their bank.
For payment above USD 10,000 COP: Beneficiary bank will require
any supporting documents to be filled out and presented on the
day the transaction is closed for the funds to be credited.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 19
2024 Global Wires Payments Formatting Requirements Guide
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Costa Rica
Croatia
Cyprus
CRC – Costa Rican Colon
EUR – Euro
EUR – Euro
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, tax ID number, and beneficiary bank address).
Country Requirements/Restrictions
Account Restrictions: Non-residents can hold in-country
accounts.
Additional Documentation: Supporting documentation may be
required from the beneficiary to receive credit into the account.
Payment Formatting Rules for CRC
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), address and tax ID number
of the beneficiary customer. Use of initials may delay receipt of
funds by the beneficiary.
The 17-digit account number called “Cuenta Cliente” is required.
IBAN numbers for beneficiaries with accounts in Costa Rica must
be included in the payment instructions.
Account # Ex 12345678912345
Country Code CR
Structure CR2!n3!n14!n
Length 22!c
Electronic Format Ex. CR9876512345678912345
Print Format Ex. CR98 7651 2345 6789 1234 5
Include the beneficiary’s Cedula Juridica (9-12 digit tax ID) number
to avoid payment delays or return. This information may also be
provided in SWIFT MT103 F70.
10 digits = corporation (beginning with 3)
9 digits = local individual (beginning with 1 through to 9)
2 digits = foreign individual; (beginning with 1)
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes for this country for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxCRxx or
xxxxCRxxxxx.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.hnb.hr/eindex.htm.
Country Requirements/Restrictions
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Croatia.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Croatia must be
included in the payment instructions.
Account # Ex 1234567- 8912345678
Country Code HR
Structure HR2!n7!n10!n
Length 21!c
Electronic Format Ex. HR9812345678912345678
Print Format Ex. HR98 1234 5678 9123 4567 8
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes for this country for cross-
border payments; SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxHRxx or
xxxxHRxxxxx.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.centralbank.gov.cy
Country Requirements/Restrictions
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Cyprus.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Cyprus must be
included in the payment instructions.
Account # Ex 1234567891234567
Country Code CY
Structure CY2!n3!n5!n16!c
Length 28!c
Electronic Format Ex. CY98765432191234567891234567
Print Format Ex. CY98 7654 3219 1234 5678 9123 4567
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxCYxx or
xxxxCYxxxxx.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 20
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Czech Republic (Czechia)
Czech Republi
c (Czechia)
Denmark
CZK – Czech Koruna
Continued
DKK – Danish Krone
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.cnb.cz.
Country Requirements/Restrictions
Currency & Clearing Information: Czech Republic is a member of
the European Union and is adopting the payment practices of the
European Union, although the country has not adopted the Euro.
Payment Restrictions: Funds movement greater than CZK
1,000,000 involving resident and non-resident legal entities and
funds transfers on residents’ accounts abroad must be reported to
the Central National Bank.
Account Restrictions: Residents and non-residents are permitted
to open and maintain domestic currency (CZK) and foreign
currency accounts both locally and abroad.
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in the Czech Republic.
SEPA standards do not apply to Czech koruna payments.
Payment Formatting Rules for CZK
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Use of IBAN numbers is highly recommended. If an IBAN is not
used, the 16-digit CZK account number is required. IBAN is
required for all EUR payments subject to SEPA standards.
Account # Ex 12-3456789123/4567
Country Code CZ
Structure CZ2!n4!n6!n10!n
Length 24!c
Electronic Format Ex. CZ9876541234567891234567
Print Format Ex. CZ98 7654 1234 5678 9123 4567
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes for this country for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxCZxx or
xxxxCZxxxxx.
Additional Information
If the payee’s account is at the same bank as the payer, same-day
settlement takes place. For interbank credit transfers, crediting can
sometimes take as long as three working days.
Domestic services are offered to all Czech Republic banks.
However, not all banks are authorized to transfer payments
abroad.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.nationalbanken.dk.
Country Requirements/Restrictions
Currency & Clearing Information: Denmark is a member of the
European Union and is adopting the payment practices of the
European Union. However, the country has not adopted the Euro.
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Denmark.
Payment Formatting Rules for DKK
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds .
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Use of IBAN numbers is highly recommended. IBAN is required for
all EUR payments subject to SEPA standards.
Account # Ex 1234 567891234
Country Code DK
Structure DK2!n4!n9!n1!n
Length 18!c
Electronic Format Ex. DK9871234567891234
Print Format Ex. DK98 7123 4567 8912 34
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes in this country for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxDKxx or
xxxxDKxxxxx.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 21
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Djibouti
Do
minica
Dominican Republic
DJF – Djiboutian Franc
XCD – East Caribbean Dollar
DOP – Dominican Peso
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Additional Documents: Supporting documentation may be
required from the beneficiary to receive credit into the account.
An invoice copy may be requested for all payments for goods and
services.
Payment Formatting Rules for DJF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Must include SWIFT BIC
with branch identifier (where required), full name, and address of
the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxDJxx or
xxxxDJxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
Payments to Dahabshil Bank International are not supported.
The local market is closed on Fridays.
DJF is a zero-decimal currency.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.eccb-centralbank.org.
Payment Formatting Rules for XCD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxDMxx or
xxxxDMxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bancentral.gov.do.
Payment Formatting Rules for DOP
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials) and, address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), address and tax ID of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in the Dominican
Republic must be included in the payment instructions.
Account # Ex 12345678912345678912
Country Code DO
Structure DO2!n4!c20!n
Length 28!c
Electronic Format Ex. DO98ABCD12345678912345678912
Print Format Ex. DO98 ABCD 1234 5678 9123 4567 8912
Tax ID must be included in the payment instructions. For
institutions, include the tax ID card number (7 digits or more) or
“Registro Mercantil” (9 digits or more) assigned by the Chamber of
Commerce. For individuals, include the 11-digit “Cedula” or
passport number.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxDOxx or
xxxxDOxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 22
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Egypt
Equatorial Guinea
Eritrea
EGP – Egyptian Pound
XAF – Central African CFA Franc
ERN – Eritrean Nakfa
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Payment Restrictions: EGP trades can’t be booked offshore.
Account Restrictions: Residents may open foreign or local
currency accounts.
Additional Documents: Non-residents need a letter of
introduction from their bankers indicating the purpose of the
account and documentary proof showing that the account will be
used for legitimate business.
Payment Formatting Rules for EGP
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Effective 30
th
June
2020, 29 characters IBAN is mandatory. Include full name (no
initials) and address of the beneficiary customer. Use of initials
may delay receipt of funds by the beneficiary.
IBAN numbers for beneficiaries with accounts in the Egypt is
mandatory in the payment instructions.
Country Code EG
Structure EG!n2!n25!
Length 29!c
Electronic Format Ex. EG981234123456789123456789123
Print Format Ex. EG98 1234 1234 5678 9123 4567 89123
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxEGxx or
xxxxEGxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
The market is closed on Fridays and payments can’t be delivered
with value.
USD and GBP are main foreign currencies used to pay and receive
funds.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Additional Documentation: Additional supporting documentation
may be required from the beneficiary.
Payment Formatting Rules for XAF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Account numbers should be 23 digits. The RIB code consists of the
5-digit bank code + 5-digit branch code + 11-digit account number +
2-digit key.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name, and address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxGQxx or
xxxxGQxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
This country is a member of the Bank of Central African States.
XAF is a zero decimal currency.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Payment Restrictions: FX payments can only be made to on-
shore residents with an in country presence.
Payment Formatting Rules for ERN
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank. Branch name or full beneficiary bank branch
address is required to avoid payment delays (this can also be
included in F72).
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxERxx or
xxxxERxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 23
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Estonia
Ethiopia
Fiji
EUR – Euro
ETB – Ethiopian Birr
FJD – Fijian Dollar
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.eestipank.ee/en.
Country Requirements/Restrictions
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Estonia.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Estonia must be
included in the payment instructions.
Account # Ex 123456789123
Country Code EE
Structure EE2!n2!n2!n11!n1!n
Length 20!c
Electronic Format Ex. EE987654123456789123
Print Format Ex. EE98 7654 1234 5678 9123
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes in this country for cross-
border payments. SWIFT BIC is key to routing payments.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxEExx or
xxxxEExxxxx.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.nbe.gov.et.
Country Requirements/Restrictions
Payment Restrictions: FX payments can only be made to on-
shore residents.
Payment Formatting Rules for ETB
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, branch name, full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxETxx or
xxxxETxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Payment Restrictions: FJD FX payments can only be made to on-
shore residents.
Payment Formatting Rules for FJD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, branch name, full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxFJxx or
xxxxFJxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 24
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Finland
France
Gabon
EUR – Euro
EUR – Euro
XAF – Central African CFA Franc
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Country Requirements/Restrictions
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Finland.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Finland must be
included in the payment instructions.
Account # Ex 123456-789
Country Code FI
Structure FI2!n6!n7!n1!n
Length 18!c
Electronic Format Ex. FI9812345600000789
Print Format Ex. FI98 1234 5600 0007 89
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes in this country for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxFIxx or
xxxxFIxxxxx.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.banque-france.fr.
Country Requirements/Restrictions
Payment Restrictions: All payments between residents and non-
residents exceeding EUR 50,000 have to be reported to the
Banque de France on a monthly basis.
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in France.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in France must be
included in the payment instructions.
Account # Ex 12345 67891 2345678A912 34
Country Code FR
Structure FR2!n5!n5!n11!c2!n
Length 27!c
Electronic Format Ex. FR9812345678912345678A91234
Print Format Ex. FR98 1234 5678 9123 4567 8A91 234
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes in this country for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxFRxx or
xxxxFRxxxxx
Additional Information
Most transactions are electronic and processed same day.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Additional Documentation: Additional supporting documentation
may be required from the beneficiary.
Payment Formatting Rules for XAF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), address and telephone number of
the beneficiary customer. Use of initials may delay receipt of funds
by the beneficiary.
Account numbers should be 23 digits. The RIB code consists of the
5 digit bank code + 5 digit branch code + 11 digit account number +
2 digit key.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name, and address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxGAxx or
xxxxGAxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
This country is a member of the Bank of Central African States.
XAF is a zero decimal currency.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 25
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Gambia
Georgia
Germany
GMD – Gambian Dalasi
GEL – Georgian Lari
EUR – Euro
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.cbg.gm.
Payment Formatting Rules for GMD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (18 digits), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxGMxx or
xxxxGMxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Country Requirements/Restrictions
Payment Restrictions:
Local regulatory reporting applies to all foreign currency
payments.
FX GEL payments for tax purposes are now supported.
Account Restrictions: Residents may maintain FX accounts
domestically and abroad. Non-resident accounts are permitted.
Payment Formatting Rules for GEL
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Georgia must be
included in the payment instructions.
Account # Ex 1234567891234567
Country Code GE
Structure GE2!n2!a16!n
Length 22!c
Electronic Format Ex. GE98AB1234567891234567
Print Format Ex. GE98 AB12 3456 7891 2345 67
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxGExx or
xxxxGExxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment
must be clearly identified (rent, salary, medical expenses, etc.).
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bundesbank.de.
Country Requirements/Restrictions
Payment Restrictions: Payment of residents to/from non-
residents, regardless of currency, must be reported to the central
bank if they exceed the equivalent of EUR 12,500.
Account Restrictions: Residents and non-residents are permitted
to open and maintain domestic currency (EUR) and foreign
currency accounts both locally and abroad. Account opening forms
must be returned along with a list of officially authorized
signatures and a copy of the company’s registration documents.
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Germany.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Germany must be
included in the payment instructions.
Account # Ex 123456789
Country Code DE
Structure DE2!n8!n10!n
Length 22!c
Electronic Format Ex. DE98765432198123456789
Print Format Ex. DE98 7654 3219 8123 4567 89
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes in this country for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxDExx or
xxxxDExxxxx.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 26
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Ghana
Greece
Grenada
GHS – Ghanaian Cedi
EUR – Euro
XCD – East Caribbean Dollar
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bog.gov.gh.
Payment Formatting Rules for GHS
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name, and address of the beneficiary bank.
There are no specific bank clearing codes in this country for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxGHxx or
xxxxGHxxxxx.
Bank branch code is recommended to avoid payment delays.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bankofgreece.gr.
Country Requirements/Restrictions
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Greece.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Greece must be
included in the payment instructions.
Account # Ex 12345678912345678912
Country Code GR
Structure GR2!n3!n4!n16!c
Length 27!c
Electronic Format Ex. GR9876512345678912345678912
Print Format Ex. GR98 7651 2345 6789 1234 5678 912
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxGRxx or
xxxxGRxxxxx.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.eccb-centralbank.org.
Payment Formatting Rules for XCD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxGDxx or
xxxxGDxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 27
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Guatemala
Guinea
-Bissau
Guine
a Republic
GTQ – Guatemalan Quetzal
XOF – West African CFA Franc
GNF – Guinean Franc
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.banguat.gob.gt.
Payment Formatting Rules for GTQ
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Guatemala must
be included in the payment instructions.
Account # Ex 12345678912345678912
Country Code GT
Structure GT2!n4!c20!c
Length 28!c
Electronic Format Ex. GT98ABCD12345678912345678912
Print Format Ex. GT98 ABCD 1234 5678 9123 4567 8912
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name, and address of the beneficiary bank.
Exact location of the bank must be provided.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxGTxx or
xxxxGTxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
FX GTQ payments to individuals can only be made if the beneficiary
account is with Banco Industrial
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Additional Documentation: Additional supporting documentation
may be required from the beneficiary.
Payment Formatting Rules for XOF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), address, and telephone number of
the beneficiary customer. Use of initials may delay receipt of funds
by the beneficiary.
It is mandatory to format account numbers for beneficiaries with
accounts in Guinea-Bissau according to the below specifications.
Account numbers should be 24 characters consisting of the 5
character bank code (including the 2 character country code) + 5
character branch code + 12 digit account number + 2 digit Clé RIB.
Country Code GW
Length 24!c
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxGWxx or
xxxxGWxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
This country is a member of the Central Bank of West African
States.
XOF is a zero decimal currency.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Payment Formatting Rules for GNF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (18 characters) , full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
Account number length must be 18 digits/characters.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name, and address of the beneficiary bank.
The exact location of the bank must be provided.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxGNxx or
xxxxGNxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
GNF is a zero decimal currency.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 28
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Guyana
Haiti
Honduras
GYD – Guyanese Dollar
HTG – Haitian Gourde
HNL – Honduran Lempira
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Payment Formatting Rules for GYD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Include the full beneficiary address to avoid payment delays.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxGYxx or
xxxxGYxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose
of payment is recommended.
Funds paid to the Guyana Revenue Authority requires a reference
in the following format: YYMMDD/RRRRRRRRRRRR. The relevant
reference can be obtained from the Guyana Revenue Authority.
Effective 1st May 2020, 8 Numeric Digit Transit Code is mandatory.
It should be updated in the first line of Field 70 (e.g. TRANSIT
CODE: XXXXXXXX)
Additional Information
Confirm with beneficiary the beneficiary bank transit code before
submitting the payment.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Payment Formatting Rules for HTG
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxHTxx or
xxxxHTxxxxx.
Reason for Payment (SWIFT MT103 F70): An in-depth, detailed
purpose of payment is required (e.g., Reimbursement of medical
expenses)
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Payment Restrictions: Individual to individual payments are not
supported.
For payments from corporations/organizations to individuals,
include a detailed purpose of payment.
Payments to beneficiaries holding accounts at Central Bank are not
supported
Capital injection payments are not supported.
Payment Formatting Rules for HNL
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), address and tax ID of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxHNxx or
xxxxHNxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
For payments from corporations/organizations to individuals,
include a detailed purpose of payment. Our bank withholds the
rights to reject payments which do not have a satisfactory purpose
of payment.
Salary payments are authorized, but the purpose of payment must
indicate that it is for salary.
Include Tax ID number for the beneficiaries (can also be included
in F72)
For Individual: Tarjeta de Identidad (ID) – 13 digits
For Corporate: RTN (Registro Tributario Nacional) – (RTN + 14-digit
tax ID)
Type of account of the beneficiary must be indicated in your
payment instructions. (can also be included in F72)
Cuenta corriente (checking account)
Cuenta de ahorro (saving account)
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 29
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Hong Kong
Hungary
Hungary
(HKD – Hong Kong Dollar)
HUF – Hungarian Forint
Continued
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.hkma.gov.hk.
Country Requirements/Restrictions
Currency & Clearing Information: Hong Kong’s clearing system is
separated into three categories: (1) RTGS payments (HKD, USD,
EUR, and RMB); (2) Paper check clearing (CLG); and (3) Low-value
electronic clearing (ECG).
Domestic clearing capabilities exist for USD, EUR, HKD, and RMB
through the Clearing House Automated Transfer System (CHATS).
Payment Restrictions: HKD is a freely traded currency on-shore
and offshore. Hong Kong has no currency and exchange controls,
or any legal restrictions on capital inflow and outflow.
No central bank reporting or approval requirements exist for
domestic or cross-border transfers.
Account Restrictions: There is no difference between accounts
held by residents and non-residents. Both are allowed to open HKD
and foreign currency accounts in Hong Kong.
Any corporation, financial institution, or individual can open
accounts of any type and currency with any Hong Kong bank.
However, the services offered depend on the bank’s registered
status under the three tier banking structure.
Payment Formatting Rules for HKD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address (P.O. box not accepted)
of the ordering customer. If an address cannot be provided, the
originator’s customer ID number or date and place of birth (for an
individual) or business registration number (for corporates) must
be provided. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT
BIC with branch identifier (where required), full name, and address
of the beneficiary bank.
There are no specific bank clearing codes in this country for cross-
border payments. SWIFT BIC is key to routing payments.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxHKxx or
xxxxHKxxxxx.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.mnb.hu.
Country Requirements/Restrictions
Currency & Clearing Information: Hungary is a member of the
European Union (EU) and is adopting the payment practices of the
EU, although it has not adopted the euro.
Payment Restrictions: The National Bank of Hungary requires all
payments between residents and non-residents above EUR 12,500
to be reported.
Banks can use a EUR settlement system such as the EBA-EURO1
system, of which the National Bank of Hungary is a participant.
Account Restrictions: Residents and non-residents are permitted
to open and maintain domestic currency and foreign currency
accounts both locally and abroad.
• SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC
are required for all euro payments. SEPA standards apply for
euro payments to beneficiaries with accounts in Hungry. SEPA
standards do not apply to Hungarian Forint payments.
HUF payments must be entered in whole amounts with no decimal
Payment Formatting Rules for HUF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN is required for all euro payments to beneficiaries with
accounts in Hungary. IBAN is highly recommended for Hungarian
forint payments.
Account # Ex 12345678-91234567-89123456
Country Code HU
Structure HU2!n3!n4!n1!n15!n1!n
Length 28!c
Electronic Format Ex. HU98123456789123456789123456
Print Format Ex. HU98 1234 5678 9123 4567 8912 3456
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes in this country for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxHUxx or
xxxxHUxxxxx.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 30
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Iceland
India
India
ISK – Icelandic Krona
INR – Indian Rupee
Continued
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Payment Formatting Rules for ISK
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include IBAN number,
full name (no initials), and address of the beneficiary customer.
IBAN: 26characters (ISXX + 22 digits)
Account # Ex 78 91234567891234
Country Code IS
Structure 4!n2!n6!n10!n
Length 26!c
Electronic Format Ex. IS981234567891234567891234
Print Format Ex. IS98 1234 5678 9123 4567 8912 34
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxISxx or
xxxxISxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended. Any information that is vague/incomplete may
need further clarification and result in payment delays.
Additional Information
This is a zero decimal currency and therefore does not have cents
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
IFSC code, account number, and beneficiary bank address).
Central Bank: India’s exchange control policy is set by the
government in conjunction with the Reserve Bank of India (RBI),
which administers regulations. For additional information, please
refer to
www.rbi.org.in.
Country Requirements/Restrictions
Currency & Clearing Information: Real Time Gross Settlement
(RTGS) is the domestic high value clearing system with a threshold
of INR 200,000. National Electronic Funds Transfer (NEFT) is the
domestic low value clearing system, with no specified amount
threshold for cap values.
For cross border INR payments into India with value INR
500,000,000 and above, both remitter & beneficiary Legal Entity
Identifier (LEI) must be provided under Payment
Details/Remittance information (F70). See Payment Formatting
Rules For INR— Reason for Payment section for acceptable
formats.
Payment instructions without LEI information and appropriate
formatting will be rejected.
The LEI is a unique 20-character number used to identify parties
involved in financial transactions.
For the latest listing of participating member banks, visit:
www.rbi.org.in
. Both the sending and the receiving bank must be
RTGS or NEFT enabled.
Payments are settled on a first-in, first-out basis, either in real time
(for RTGS) or within two hours (for NEFT) subjecting to working
hours and bank holidays.
Payment Restrictions: Different payment types are subject to
different regulations, yet the purchase of INR is permitted for trade
and current account purposes.
Foreign currency can be paid from offshore for local conversion
subject to regulations.
All transactions with non-residents are subject to foreign exchange
controls, but the INR is fully convertible for trade and current
account purposes.
Transfer of funds from foreign currency accounts to an INR
account is permissible subject to certain regulatory prescriptions
and allowances.
Transfer of funds from a local currency account to a foreign
currency account is not permitted except in certain regulatory
situations.
In general, there are no limits on the amount received, as long as
the necessary supporting documents are provided.
Sending payments to non-resident beneficiaries is permitted
subject to foreign exchange management guidelines.
Additional Documentation: Additional documentation may be
required from the remitter and/or beneficiary.
Foreign Direct Investment:
All cross border incoming remittances with purpose code as
Foreign Direct Investment (P0006, P0007 & P0008) will require
additional Declaration & details of the remitter/Investor which may
cause delay in processing.
Payment Formatting Rules for INR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name, and address of the ordering customer.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name, address, and as best practice, telephone
number of the beneficiary customer.
Account number can’t contain dashes, spaces, or any other non
-
standard characters.
Beneficiary Bank (SWIFT MT103 F57): Include beneficiary bank
branch’s full name, address, including branch postal identification
number (PIN), and branch telephone number (highly
recommended).
Do not include SWIFT BIC. India does not use the SWIFT BIC
network for domestic messaging. All payments must include the
Indian Financial Services Code (IFSC) for electronic delivery of the
payment.
Effective March 15, 2023 all cross border INR payments into India
using the below three purpose codes, or quoting ‘Donation’ in its
description, will not be processed until further notice.
P1302 Personal gifts and donations
P1303 Donations to religious and charitable institutions in India
P1304 Grants and donations to governments and charitable
institutions established by the governments
Reason for Payment (SWIFT MT103 F70): For timely processing
of your payments > INR 500,000,000, please include the LEI
information in your payment instructions following the format
indicated in below.
Beneficiary is non-individual entity -
Rem LEI XXXXXXXXXXXXXXXXXXXX
Ben LEI XXXXXXXXXXXXXXXXXXXX
<<Any Additional Details>>
(Continued on next page)
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 31
2024 Global Wires Payments Formatting Requirements Guide
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India
India
Indonesia
Continued
Continued
IDR – Indonesian Rupiah
Beneficiary is individual -
Rem LEI XXXXXXXXXXXXXXXXXXXX
Ben LEI NABENINDIVIDUAL00000
<<Any Additional Details>>
Remitter is individual -
Rem LEI NAREMINDIVIDUAL00000
Ben LEI XXXXXXXXXXXXXXXXXXXX
Beneficiary/Remitter is individual -
Rem LEI NAREMINDIVIDUAL00000
Ben LEI NABENINDIVIDUAL00000
Reason for Payment (SWIFT MT103 F72): Payment purpose code
is mandatory. Payments received without a specific purpose code
will be cancelled and returned to the remitter.
Please refer to the Reserve Bank of India’s payment purpose
codes, beginning with “P”:
http://rbidocs.rbi.org.in/rdocs/notification/PDFs/ASAP840212FL.p
df
Format: /ACC/PURPOSE/IN<Purpose code><Country code
providing ultimate service>*
If in case of space limitation in field 72, the purpose code in the
above format can be mentioned in field 70.
For specific purpose codes, the country code where the ultimate
service was provided must be included. Please refer to the
following link for impacted purpose codes.
https://www.jpmorgan.com/visit/inpop-feb2020
Include individual’s account type in the payment details field.
Please contact the beneficiary to determine the type of account
held by the beneficiary. Account types include:
Non-Resident Emigrant (NRE) - Format: /NRE/
Non-Resident Ordinary Account (NRO) - Format: /NRO/
Note: In order to avoid any delay in processing your
transactions, kindly map the appropriate purpose code from the
above link instead of using ‘P1099’ (Other services not included
elsewhere), as we may seek further information on the
transactions before applying the credits.
Additional Information
In addition to the purpose code, you may also provide purpose of
remittance within the narrative of the payment, to avoid potential
issues.
If the RTGS IFSC or NEFT IFSC is missing or invalid, or the sending
or receiving banks are not RTGS-enabled, a draft will be issued and
mailed if the full beneficiary bank branch name, building, street,
location, and PIN (Postal Identification Number) are provided in the
Beneficiary Bank Field.
LEI applicable for Cross border transactions for accounts with JPMCB
India
Banks in India are required to obtain the LEI from all resident
entities (non-individuals) and non-resident counterparts and
overseas entities for all cross-border transactions into and out of
India from your accounts with transaction values of INR 500 Million
and above.
The LEI will also be validated before a cross-border transaction is
processed. Once the LEI is made available to J.P. Morgan Chase
Bank N.A., India (JPMCB India), it will be validated for all
subsequent transactions, irrespective of the transaction size.
For clients holding accounts with JPMCB India, provide your valid
LEI to our JPMCB India's relationship team. This information shall
be stored and applied to all future payments and receipts
.Transactions with missing/invalid LEI shall be kept on hold. For
clients holding accounts with JPMCB India are not required to
include their LEI in the payment message
Kindly also provide the LEI of your counterparties (i.e. non-resident
counterparts/overseas entities, resident entities located in Special
Economic Zone etc.) for payments. Use the formatting guide when
providing the LEI of counterparties for payments.
Ask remitters to include their LEI while sending payments into your
account with JPMCB India as outlined in the formatting guide:
INR Vostro transactions processed through JPMCB India, the onus
of ensuring Compliance to RBI’s LEI regulations for cross border
transactions is that of the bank of the resident entity in India i.e.
bank of the Indian beneficiary and not J.P. Morgan India. In case
the end beneficiary in India banks with J.P. Morgan India, then the
remitter is requested to include their LEI in the payment message
as per the formatting guide .
Formatting guide:
https://pages-jpmcib.jpmorgan.com/rs/726-
KZY-402/images/India_Formatting_Guide_for_LEI.pdf
Tax Applicable at source applicable for ESOP/ESPP remittances
Employee Share Options Program (ESOP) and Employee Share
Purchase Program (ESPP) cross-border remittances done from
accounts with JPMCB India for which contributions are being made
by the employees must have
additional declarations and a debit
authority signed in wet ink by your authorized signatories and be
submitted with the
Annexure that contains employee details on
the remittances. Payments without such documentation shall be
kept on hold. JPMCB India shall rely on the Tax Collected at Source
(TCS) amount stated in these declarations/Annexure for collection
and deposit to tax authorities.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
https://www.bi.go.id/en/default.aspx.
Country Requirements/Restrictions
Currency & Clearing Information: Real Time Gross Settlement
(RTGS) is the domestic high value clearing system with minimum
transaction of IDR 100,000,000. Transactions above IDR
250,000,000 and up to IDR 1,000,000,000 are processed via
Sistem Kliring Nasional (SKN), while transactions up to IDR
250,000,000 are processed via Real Time Payment (BI-FAST) with
additional Purpose Code mandatory to be provided.
Payment Restrictions: All foreign currency movements are
subject to reporting. IDR transfers and deposits must be held-in
country.
IDR receipts in excess of USD 1,000,000 equivalent to IDR Non-
Resident accounts must be accompanied with supporting
documents.
Additional Documentation: Declaration letter is required for
conversion from IDR to Foreign Currency and additional supporting
document for conversion greater than USD 100,000 equivalent.
Supporting document to show the economic activities of the FX
transactions and meet prevailing Bank Indonesia requirements.
Payment Formatting Rules for IDR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), address, and telephone number of
the beneficiary customer. Use of initials may delay receipt of funds
by the beneficiary.
If the beneficiary name is not an exact match, or initials are used,
the payment will be returned by beneficiary bank.
Beneficiary address is mandatory for all IDR payments
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxIDxx or
xxxxIDxxxxx.
(Continued on next page)
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 32
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Indonesia
Indonesia
Iraq
Continued
Continued
IQD – Iraqi Dinar
Reason for Payment (SWIFT MT103 F70):
For Transactions above IDR 250.000.000 up to IDR 1,000,000,000
please also mention Sistem Kliring Nasional (SKN) data in the
following format: ‘/SKNINFO/A.B.C.D.E’ in the first line of Reason
for payment.
Example: /SKNINFO/2.1.0.1.1
Note: Government type (i.e. 3.) is only applicable if the beneficiary
is an Indonesian Government institution who maintains an account
with the Central Bank (INDOIDJA).
Key Description Length Possible Values
A
Sender Customer
1n!
1= Individual
Type
2=Company/Corporation
3= Government
B
Sender Resident
1n!
1= Resident
Type
2= Non-Resident
C Bene Bank City Code 1n!
Not currently required, input
0 as a place holder
D Bene Customer Type 1n! 1= Individual
2= Company
3= Government
E Bene Resident Type 1n! 1=Resident
2=Non-resident
For Transaction up to IDR 250.000.000 processed via Real Time
Payment (BI-FAST), Ordering Customer is required to provide
Purpose Code information in F70 or F72 with the following format:
/REG/PC/XX e.g : /REG/PC/01
Note: If Ordering Customer not provide the information we will
default the value to "99"
List of Purpose Code :
01 = Investment
02 = Transfer of Wealth
03 = Purchase
99 = Others
For Import and Export payments in Foreign Currency
Exchanged, Importer and Exporter must provide purpose code
(1011 for Export Proceed and 2012 for Import Payment) and invoice
information in the format that is defined by Bank Indonesia as
follow :
For Export Proceed :
/[Code Word other
country]/[PurposeCode]//[InvoiceNo1][InvoiceAmt1][InvoiceNo2][Inv
oiceAmt2]
For Import Payment :
/[Code Word other
country]/[PurposeCode]//[InvoiceNo1][InvoiceAmt1][InvoiceNo2][Inv
oiceAmt2]
Exporter and/or Importer can submit revision of the information
by sending MT199 to the Sender or Beneficiary Bank and put the
revised information in F79. Providing information in the wrong
formatting per Bank Indonesia requirement will cause the
transaction can’t be processed further or even rejected.
Regulator Reporting (SWIFT MT103 F72
): When sending a foreign
currency payment to Indonesia greater than the equivalent of USD
10,000, the remitter must provide the following information for
Indonesia FX reporting to the Central Bank. Sample format:
/REG/BIDATA, (ISO Country Code), (Category), (Relationship),
(Transaction Purpose Code).
Status ISO Country Code: If Remitter is a Resident input “ID”,
if Remitter is a Non-Resident input ISO Country code “XX
Acceptable Categories: Individual (A0), Government (B0),
Reporting bank (C1), Branch/Head Office abroad (C2) Other bank
(C9), Non-banking financial institution (D0), Company (E0), Others
(Z9)
Relationship with Ordering Party: Group (G), Non-affiliated (N),
Shareholder (P), Affiliated (T)ss
– Transaction Purpose Code: Code should be formatted as
“1XXX” (incoming transaction).
– For more guidance on Indonesia’s purpose codes, please use
the following link:
https://www.jpmorgan.co.id/content/dam/jpm/global/disclos
ures/ID/purpose-code-for-foreign-currency-transaction.pdf
Additional Information
The value date applied to the beneficiary will be value date plus
one day for payments initiated out of a US account.
Movement of funds in excess of USD 10,000 will be reported to
Indonesia’s Central Bank on a monthly basis.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Country Requirements/Restrictions
Payment Restrictions: Individual to individual (P2P) payments are
not permitted
Payment Formatting Rules for IQD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Iraq must be
included in the payment instructions.
Account # Ex 123456789012
Country Code IQ
Structure IQ2!n4!n3!n12!n
Length 23!c
Electronic Format Ex. IQ98NBIQ850123456789012
Print Format Ex. IQ98 NBIQ 8501 2345 6789 012
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier/code (where required), full name of bank branch,
and address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxIQxx or
xxxxIQxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
Payments below 10,000 IQD are not supported. If, for any reason,
a transaction is submitted, it will be cancelled.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 33
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Ireland
Israel
Italy
EUR – Euro
ILS – Israeli Shekel
EUR – Euro
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.centralbank.ie.
Country Requirements/Restrictions
Account Restrictions: Residents and non-residents are permitted
to open and maintain domestic and foreign currency accounts both
locally and abroad.
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Ireland.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Ireland must be
included in the payment instructions.
Account # Ex 12-34-56 12345678
Country Code IE
Structure IE2!n4!a6!n8!n
Length 22!c
Electronic Format Ex. IE98ABCD12345612345678
Print Format Ex. IE98 ABCD 1234 5612 3456 78
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes in the country for cross-
border payments; SWIFT BIC is key to routing a payment to the
beneficiary bank in Europe.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxIExx or
xxxxIExxxxx.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Country Requirements/Restrictions
Payment Restrictions: Thresholds exist for central bank reporting
by financial institutions.
Account Restrictions: Non-residents can hold ILS and foreign
currency accounts. Account opening procedures require formal
documentation.
Payment Formatting Rules for ILS
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Israel must be
included in the payment instructions.
Account # Ex 12-345-67891234
Country Code IL
Structure IL2!n3!n3!n13!n
Length 23!c
Electronic Format Ex. IL987123456789123456789
Print Format Ex. IL98 7123 4567 8912 3456 789
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier/code (where required), full name of bank branch,
and address of the beneficiary bank.
The beneficiary bank’s SWIFT BIC must be in field A on the SWIFT
message to avoid delays or returns.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxILxx or
xxxxILxxxxx.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bancaditalia.it.
Country Requirements/Restrictions
Account Restrictions: Residents and non-residents are permitted
to open and maintain domestic and foreign currency accounts both
locally and abroad.
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Italy.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Italy must be
included in the payment instructions.
Account # Ex A 12345 67891 234567891234
Country Code IT
Structure IT2!n1!a5!n5!n12!c
Length 27!c
Electronic Format Ex. IT98A1234567891234567891234
Print Format Ex. IT98 A123 4567 8912 3456 7891 234
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes in the country for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxITxx or
xxxxITxxxxx.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 34
Account # Ex 12-345-67891234
Country Code IL
Structure IL2!n3!n3!n13!n
Length 23!c
Electronic Format Ex. IL987123456789123456789
Print Format Ex. IL98 7123 4567 8912 3456 789
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Ivory Coast
Jamaica
Japan
XOF – West African CFA Franc
JMD – Jamaican Dollar
JPY – Japanese Yen
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Payment Formatting Rules for XOF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), address and telephone number of
the beneficiary customer. Use of initials may delay receipt of funds
by the beneficiary.
It is mandatory to format account numbers for beneficiaries with
accounts in Ivory Coast according to the below specifications.
Account numbers should be 24 characters consisting of the 5
character bank code (including the 2 character country code) + 5
character branch code + 12 digit account number + 2 digit Clé RIB.
Country Code CI
Length 24!c
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxCIxx or
xxxxCIxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
This country is a member of the Central Bank of West African
States.
XOF is a zero decimal currency.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.boj.org.jm.
Payment Formatting Rules for JMD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, where 5 digit Transit Code (Mandatory) must precede the
9 digit account number (14 digits in total). This is applicable to
payments to all beneficiary banks. Include full name (no initials)
and address (street address and city) of the beneficiary customer.
Use of initials may delay receipt of funds by the beneficiary.
Contact your J.P. Morgan Service Representative for a list of transit
codes.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxJMxx or
xxxxJMxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
Payments where the underlying remitter is an MSB or PSP are not
supported.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.boj.or.jp/en.
Country Requirements/Restrictions
Currency & Clearing Information: In Japan, there are two cash
clearing systems for Japanese Yen payments. One is Zengin and
the other is FXYCS. Each clearing system has different rules and
message format guidelines.
Zengin is a clearing system for domestic yen payments among
Japanese residents.
FXYCS is used for international, cross-border yen payments for
both Japanese residents and non-residents.
Maximum payment amount between residents through local
clearing system, Zengin, is JPY 9,999,999,999. Amounts
exceeding this limit need to be split into multiple transactions.
Payment Restrictions: JPY is a freely traded currency both on-
shore and offshore.
JPY payments must be entered in whole amounts with no decimal
to avoid rejection.
Resident companies must report details of all non-trade related
transfers in excess of JPY 30,000,000 or the FX equivalent.
For outgoing Zengin payments, the debit account with JPMorgan
Chase Tokyo must be a resident account. For incoming Zengin
payments, the credit account with JPMorgan Chase Tokyo must be
a resident account.
For outward payments from Japan, payers and payees are
required to confirm their cross-border payments are not related to
Japan sanctions against North Korea, Iran, the "Donetsk People's
Republic"(self-proclaimed), the "Luhansk People's Republic" (self-
proclaimed), the Russian Federation and the Republic of Belarus.
Please input the code word “NNKNI” in your respective payment
instructions to declare that your payment is not associated with the
sanctions. Without this declaration, payments may be delayed or
cancelled
(Continued on next page)
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 35
2024 Global Wires Payments Formatting Requirements Guide
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Last Updated: February 16, 2024
Japan
Japan
Japan
Continued
Continued
Continued
Account Restrictions: JPY accounts and foreign currency accounts
can be opened by resident and non-residents.
Additional Documentation: For over-the-counter money transfers
over JPY 100,000, Japanese ID confirmation law requires banks to
confirm the customer’s name, address, and birthday with a
government-issued ID. If the customer is an account holder,
confirmation is not required as the same process is required to
open an account. If problems are encountered, have the
beneficiary’s name, account number, and telephone number
available.
Payment Formatting Rules for Cross-border Payments
debiting accounts held with JPM Tokyo (including any domestic
payments from resident to non-residents)
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and full address (country,
state/province, city, street) of the ordering customer. Use of initials
can delay receipt of funds by the beneficiary
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials),full address (country,
state/province, city, street), and telephone number of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
Purpose of Payment (SWIFT MT103 F70, 72, 77B): In light of the
requirements under Article 17 of the Act, JPMCB Tokyo requests
that you provide the Purpose of Payment for all cross-border
payments, including any domestic payments between resident and
non-residents from your accounts with JPMCB Tokyo (each “cross
-
border payment”, and collectively “cross-border payments”). If
cross-border payments are related to import or intermediary
trade, you must also provide the Country of Origin, Place of
Shipment, and Name of Goods.
Please use the codes listed in the JPMorgan Chase Bank, N.A.,
Tokyo Branch Payment Purpose Code List or the International
Balance of Payments Headings defined by the Bank of Japan in
your payment instruction. Transactions without payment purpose
will be delayed or rejected.
JPMorgan Chase Bank, N.A., Tokyo Branch Payment Purpose Code
List:
https://pages-jpmcib.jpmorgan.com/rs/726-KZY-
402/images/JPM_Tokyo_Payment_Purpose_Code_List_2022.pdf
The International Balance of Payments Headings defined by the
Bank of Japan (Japanese Only):
https://www.boj.or.jp/z/tame/t-redown2014/nregtlist.pdf
Format:
Please provide the information in the following manner:
/REG/MOF,[4-digit of Payment Purpose Code]
Example: /REG/MOF,0421
If the payment is related to importation of goods or intermediary
trade, please provide additional information in the following
manner:
/REG/MOF,[4-digit of Payment Purpose Code],[2-character ISO
Country Code of Origin],[Place of Shipment],[Name of Goods]
Example: /REG/MOF,0071,CN,GUANGZHOU,AUTO PARTS
Reason for Payment (SWIFT MT103 F70, F2, or F77B): For
transactions relating to non-account debits and credits, purpose of
payment is required for transactions over JPY 1,000,000 or
equivalent. This information should be included in either the
payment details (SWIFT Field 70), bank to bank (SWIFT Field 72), or
regulatory reporting fields (SWIFT Field 77B). It is recommended to
ask the beneficiary for confirmation of the exact field to insert
payment purpose for their specific beneficiary bank. Without this
information, the payment may be delayed.
Payment Formatting Rules for FXYCS (International/Cross-border
Clearing System)
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch location, full name, and full address of the beneficiary bank.
This information is required to avoid payment delays.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxJPxx or
xxxxJPxxxxx.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials),full address (country,
state/province, city, street), and telephone number of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
Bank to Bank Information (SWIFT MT103 F72): For outbound
payments from a Tokyo branch account, enter “FXYCS”
(International/Cross-Border Clearing System) on its own line in F72.
Payment Formatting Rules for Zengin (Domestic Clearing System)
Beneficiary Bank (SWIFT MT103 F57): Japanese banks have a
unique 4-digit local bank code decided by JBA. Each bank also has
a 3-digit branch code. Combined, the 7-digit bank/branch code
identifies the specific beneficiary bank.
Bank Branch Code should always be preceded with “/ZN” followed
by the 4-digit bank code and the 3-digit branch code. Example:
/ZN0402001
Beneficiary Customer (SWIFT MT103 F59): In addition to the
account number, there are various account types within Japan,
including: Saving (“S”), DDA (“D”), Chochiku (“C”), and Others (“O”).
The account type is mandatory for all Zengin payments and must
precede the beneficiary account number in the beneficiary
customer field. Example: S1234567.
The beneficiary’s exact account name in local language is required.
If the account name does not perfectly match with the beneficiary’s
account name recorded at the beneficiary bank, the payment may
be delayed or rejected.
Additional Notes
Lifting fees are standard market practice in Japan. Lifting fees are
calculated as a percentage of the transaction value (around 1/20%
of the payment amount).
JPY is a zero-decimal currency.
Payments to Post Bank (JPPSJPJ1XXX) are not supported.
Banks are also required to provide accurate customer identification
data (i.e. customer name, address, account number or transaction
reference number) when executing cross-border payments.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 36
2024 Global Wires Payments Formatting Requirements Guide
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Jordan
Kazakhstan
Kazakhstan
JOD – Jordanian Dinar
KZT – Kazakhstani Tenge
Continued
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.cbj.gov.jo.
Payment Formatting Rules for JOD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds .
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Jordan must be
included for payments in all currencies.
Account # Ex 123456789123
Country Code JO
Structure 2!a2!n4!a4!n18!c
Length 30!c
Electronic Format Ex. JO98ABCD7654321987123456789123
Print Format Ex. JO98 ABCD 7654 3219 8712 3456 7891 23
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxJOxx or
xxxxJOxxxxx.
Reason for Payment (SWIFT MT103 F70 A
): A 4-digit payment code
and a description of the purpose of payment is mandatory (rent,
salary, medical Jordan expenses, office expenses, etc.) for cross-
currency payments.
Include the 4-digit code in the first line. Sample Format: 1234
The next line should include a description of the purpose of
payment. Sample Format: //Rent
Please refer to the “Purpose of Payment Codes” section contained
within the below link’
https://www.cbj.gov.jo/EchoBusv3.0/SystemAssets/PDFs/1%D8%A
7%D9%84%D8%BA%D8%B1%D8%B6%20%D9%85%D9%86%2
0%D8%A7%D9%84%D8%AA%D8%AD%D9%88%D9%8A%D9%
84%D8%A7%D8%AA%200%D8%A7%D9%84%D9%85%D8%A7
%D9%84%D9%8A%D8%A9-20191029.pdf
Additional Information
Local market is closed on Fridays.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.nationalbank.kz.
Country Requirements/Restrictions
Additional Documentation: The beneficiary must complete all
required documentation at their local bank by value date to receive
credit into the account. If all documentation is not completed by
value date, the exact payment amount can’t be guaranteed.
Payment Formatting Rules for KZT
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Kazakhstan must
be included in the payment instructions.
Account # Ex KZ12 345A BC67 8912 3456
Country Code KZ
Structure 2!a2!n3!n13!c
Length 20!c
Electronic Format Ex. KZ12345ABC6789123456
Print Format Ex. KZ12 345A BC67 8912 3456
Full beneficiary address is required.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxKZxx or
xxxxKZxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment
must be clearly identified (rent, salary, medical expenses, etc.) and
must be included in the first line. It should begin with the prefix
POP followed by a space and then a clear purpose of payment.
(e.g. POP SALARY).
Beneficiary’s 12-digit Business Identification Number (BIN) or
Individual Identification Number (IIN) to be included in the second
line. It should begin with the prefix BIN or IIN followed by a space
and then the BIN or IIN number. (e.g. BIN 123456789112)
10 character purpose code (known as the EKNP) should be updated
in the third line. It should begin with the prefix EKNP followed by a
space and then the EKNP code. The EKNP code format is structured
in the following way: 2-digit KOD code / 2-digit KBE code /
currency code KZT / 3-digit KNP code (e.g. EKNP XXYYKZTZZZ).
–XX = KOD (sender’s code which will always be 27 for non-resident
senders)
–YY = KBE (beneficiary code)
–KZT = currency code KZT
–ZZZ = KNP (3-digit transaction code, list of codes available upon
requests)
Example for J.P. Morgan Bank KBE: 24 (non-resident bank). The
first digit in the KBE can either be 1 or 2, which refers to:
1 – Resident of Kazakhstan
2 – Non-resident of Kazakhstan
The second digit represents:
1 – Central Government
2 – Regional and Local Authorities
3 – Central Banks
4 – Other Deposit Organizations (Banks)
5 – Other Financial Organizations
6 – State Non-Financial Organizations
7 – Non-State Non-Financial Organizations
8 – Non-Commercial Organizations (funds, charity, etc)
9 – Individuals, Private Entrepreneurs
Frequently used KNP codes include:
213 – Transfer of KZT for foreign currency purchase
223 – Transfer of foreign currency for KZT purchase
290 – FX penalties
312 – MM deal open (interbank lending/borrowing)
322 – MM deal close (take-up)
411 – Short-term loan disbursement
413 – Long-term (more than 1 year) loan disbursement
421 – Short-term loan repayment
423 – Long-term loan repayment
710 – Payment for goods
841 – Payment for financial services
859 – Payment for services
Additional Information
All KZT payments must be made with the charge indicator ‘OUR’.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 37
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Kenya
Kuwait
Kyrgyzstan
KES – Kenyan Shilling
KWD – Kuwaiti Dinar
KGS – Kyrgyzstani Som
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.centralbank.go.ke.
Payment Formatting Rules for KES
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer including City and Country (mandatory). Use of initials
may delay receipt of funds by the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with 5-
digit branch identifier (first 2 digits are bank code), full name, and
address of the beneficiary bank.
If this code is provided in Field 57 instead, update will be made to
this information on Field 70 before the payment is released
No bank clearing codes exist in Kenya for cross-border payments.
SWIFT BIC is key to routing payments to the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxKExx or
xxxxKExxxxx.
Reason for Payment (SWIFT MT103 F70):
Purpose of payment is required (free form text).
5-digit beneficiary bank branch code must be included in Field 70
of the payment instructions with a prefix "BANK CODE/BRANCH
CODE"
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.cbk.gov.kw.
Country Requirements/Restrictions
Account Requirement: Non-residents can hold local and foreign
currency accounts.
Payment Restrictions: There are no foreign exchange controls.
Payment Formatting Rules for KWD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
IBAN numbers for beneficiaries with accounts in Kuwait must be
included in the payment instructions.
Account # Ex 1234567891
Country Code KW
Structure KW2!n4!a22!
Length 30!c
Electronic Format Ex. KW98ABCD7654321987651234567891
Print Format Ex. KW98 ABCD 7654 3219 8765 1234 5678 91
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
No bank clearing codes in Kuwait for cross-border payments.
SWIFT BIC is key to routing payments to the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxKWxx or
xxxxKWxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
Markets are closed on Fridays.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.nbkr.kg.
Country Requirements/Restrictions
Payment Restrictions: Payments for rent of premises sent directly
to the landlord are not permitted. All other payments to individuals
are allowed.
Additional Documents: Beneficiaries of FX payments must
complete all required forms advising of the nature of the payment
and beneficiary before the account is credited.
Payment Formatting Rules for KGS
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include 16-digit
account number, full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include 6-digit BIK code,
SWIFT BIC with branch identifier (where required), full name, and
address of the beneficiary bank.
The 6-digit BIK code is used to route or clear funds in Kyrgyzstan.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxKGxx or
xxxxKGxxxxx.
Reason for Payment (SWIFT MT103 F70): 8-digit Purpose of
payment code must be included in the payment instructions to
describe the nature of the payment.
Contact your J.P. Morgan Service Representative for list of purpose
codes.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 38
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Laos
Lat
via
Lesotho
LAK – Lao Kip
EUR – Euro
LSL – Lesotho Loti
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bol.gov.la.
Country Requirements/Restrictions
Payment Restrictions: All foreign exchange earnings must be
deposited in a local account.
Account Restrictions: Residents can maintain foreign exchange
accounts. Accounts can’t be opened abroad except where deemed
necessary.
Payment Formatting Rules for LAK
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and full address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxLAxx or
xxxxLAxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
This is a zero decimal currency and therefore does not have cents
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Country Requirements/Restrictions
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Latvia.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Latvia must be
included in the payment instructions.
Account # Ex LV12 ABCD 3456 7891 2345 6
Country Code LV
Structure LV2!n4!a13!c
Length 21!c
Electronic Format Ex. LV12ABCD3456789123456
Print Format Ex. LV12 ABCD 3456 7891 2345 6
Full beneficiary address is required to avoid payment delays.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes in the country for cross-
border payments. SWIFT BIC is key to routing payments.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxLVxx or
xxxxLVxxxxx.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.centralbank.org.ls.
Payment Formatting Rules for LSL
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxLSxx or
xxxxLSxxxxx.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and full beneficiary address
(mandatory) of the beneficiary customer. Use of initials may delay
receipt of funds by the beneficiary.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 39
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Liechtenstein
Lithuania
Luxembourg
CHF – Swiss Franc
EUR – Euro
EUR – Euro
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Country Requirements/Restrictions
Currency & Clearing Information: Liechtenstein is adopting some
of the payment guidelines applied by the European Union
countries, including IBAN numbers, although they continue to use
the Swiss Franc (CHF).
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Liechtenstein.
Payment Formatting Rules for CHF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxLIxx or
xxxxLIxxxxx.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
Use of IBAN numbers is highly recommended.
Account # Ex 1234 5678912AB
Country Code LI
Structure LI2!n5!n12!c
Length 21!c
Electronic Format Ex. LI98765412345678912AB
Print Format Ex. LI98 7654 1234 5678 912A B
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.lb.lt.
Country Requirements/Restrictions
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Lithuania.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Lithuania must be
included in the payment instructions.
Account # Ex LT12 3456 7891 2345 6789
Country Code LT
Structure LT2!n5!n11!n
Length 20!c
Electronic Format Ex. LT123456789123456789
Print Format Ex. LT12 3456 7891 2345 6789
Full beneficiary address is highly recommended to avoid payment
delays.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes for Lithuania for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxLTxx or
xxxxLTxxxxx.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bcl.lu.
Country Requirements/Restrictions
Account Restrictions: Residents and non-residents are permitted
to open and maintain domestic or foreign currency accounts either
locally or abroad.
Additional Documentation: Written justification must be
submitted for incoming transactions exceeding EUR 625,000 and
for outgoing transactions exceeding EUR 12,500.
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Luxembourg.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Luxembourg must
be included in the payment instructions.
Account # Ex LU12 3456 7891 2345 6789
Country Code LU
Structure LU2!n3!n13!c
Length 20!c
Electronic Format Ex. LU123456789123456789
Print Format Ex. LU12 3456 7891 2345 6789
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxLUxx or
xxxxLUxxxxx.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 40
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Macau
Madagascar
Malawi
MOP – Macanese Pataca
MGA – Malagasy Ariary
MWK – Malawian Kwacha
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.amcm.gov.mo
Payment Formatting Rules for MOP
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and full address (Beneficiary street
address, city, country) of the beneficiary customer. Use of initials
may delay receipt of funds by the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxMOxx or
xxxMOxxxx.
Reason for Payment (SWIFT MT103 F70): Detailed purpose of
payment description is mandatory to avoid any potential delays
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Additional Documentation: Supporting documentation may be
requested from the beneficiary.
Payment Formatting Rules for MGA
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and full address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Account numbers must be formatted according to the below
specifications.
Country Code MG
Length 27!c
Format MG46 + 23 digits
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxMGxx or
xxxxMGxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Sier
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Payment Formatting Rules for MWK
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and full address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxMWxx or
xxxxMWxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 41
1
2
3
4
4
3
2
1
Own Payment Formatting Example
On-Behalf Payment Formatting Example
'ACC' code word followed by 5-digit purpose code
and payment description
Transaction type: 'REP' code word followed by
'OWN' for own transaction
Institutional sector code: 2-digit sector code of
the remitter (ordering party)
Residency status:
'BENEFRES' code word followed by Beneficiary
residency country code
residency country code
'ORDERRES' code word followed by remitter's
'ACC' code word followed by 5-digit purpose code
and payment description
Transaction type: 'REP' code word followed by
Institutional sector code: 2-digit sector code of
Residency status:
'BENEFRES' code word followed by Beneficiary
residency country code
'OBO' for payment on behalf
'ORDERRES' code word followed by Ultimate
remitter residency country code
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Malaysia
Malaysia
Malaysia
MYR – Malaysian Ringgit
Continued
Continued
Overview
Bank Negara Malaysia, the Central Bank of Malaysia (BNM): For
information about BNM, please refer to
www.bnm.gov.my.
Country Requirements/Restrictions
“Resident” means (a) a citizen of Malaysia, excluding a citizen who
has obtained permanent resident status in a country or a territory
outside Malaysia and is residing outside Malaysia; (b) a non-citizen
of Malaysia who has obtained permanent resident status in
Malaysia and is ordinarily residing in Malaysia; (c) a body corporate
incorporated or established, or registered with or approved by any
authority, in Malaysia; (d) an unincorporated body registered with
or approved by any authority in Malaysia; or (e) the Government or
any State Government
“Non-resident” means (a) any person other than a resident; (b) an
overseas branch, a subsidiary, regional office, sales office or
representative office of a resident company; (c) Embassies,
Consulates, High Commissions, supranational or international
organizations; or (d) a Malaysian citizen who has obtained
permanent resident status of a country or territory outside
Malaysia and is residing outside Malaysia. For the avoidance of
doubt, this includes Malaysian Embassies, Consulates and High
Commissions.
Where required under Malaysia’s Foreign Exchange (FE) Policy, the
client should obtain prior approval for the payment from BNM.
Speculative trading is not allowed.
MYR payment from and to an account held with a Labuan bank is
not permitted due to regulatory restrictions.
BNM’s Foreign Exchange (FE) Policy
The Foreign Exchange Administration Rules (FEA) may be updated
from time to time by Bank Negara Malaysia. Please refer BNM
(http://bnm.my/fephttp://bnm.my/fea) for the latest FE Notices.
Additional Documentation: For compliance with the FE Notices
and/or other applicable legal obligations, BNM or J.P. Morgan may
require clients to provide supporting documents as evidence to
substantiate purpose of payment. If supporting documents are
required by J.P. Morgan, please submit a scanned copy of the
supporting documents to
fea.screening.unit@jpmorgan.com.
Transactions without supporting documentation or with incomplete
or unclear purpose code will be delayed or rejected.
Malaysia’s Payment Purpose Codes
For more guidance on Malaysia’s purpose codes, please use the
following link:
https://jpmorganaccess.com.my/pdf/BNMPurposeCodes.pdf
Malaysia’s List of Institutional Sector Codes
For more guidance on Malaysia’s institutional sector codes, please use
the following link:
https://jpmorganaccess.com.my/pdf/BNMInstitutionalSector.pdf
Payment in MYR involving Non-Resident
Non-resident is allowed to make or receive MYR in Malaysia, to or
from a resident or a non-resident, for the following purposes:
Purpose of Use and Source of Funds
Between Non-
Resident and
Resident
✔
Between Non-Residents
✔
Settlement of a ringgit asset including
any income and profit due from the
ringgit asset
Settlement of trade in goods
✔
✔
* Note: Settlement of
trade in goods between
Non-Residents, must be
for domestic trade in
goods in Malaysia only.
Settlement of services
✔
✔
* Note: Settlement of
services between Non-
Residents, must be for
domestic services in
Malaysia only.
Income earned or expense incurred, in
Malaysia
✔
✔
Settlement of a commodity murabahah
transaction undertaken through a
resident commodity trading service
provider
✔
✔
*Note: Settlement of
commodity murabahah
transaction undertaken
through a non-resident
commodity trading service
provider is not allowed.
Settlement of reinsurance for domestic
insurance business or retakaful for
domestic takaful business between a
resident and a person licensed to
undertake Labuan insurance or takaful
business
✔
X
Settlement of court judgement where
the transaction under litigation is
undertaken in compliance with the FE
Notices
✔
X
For any purpose between immediate
family members
Note: “Immediate family members” in
relation to an individual means a legal
spouse, Parents, legitimate child
(including legally adopted) or legitimate
sibling of an individual..
✔
✔
Appointed Overseas Office (AOO)
J.P. Morgan Malaysia has Appointed Overseas Offices to facilitate
MYR transactions between Non-Resident with a Resident. The list
of approved J.P. Morgan affiliates under the BNM Appointed
Overseas Office (AOO) Framework can be referred to at
https://www.bnm.gov.my/o/finmkt/fxmkt.html
Supporting documents will be required from the remitter by J.P.
Morgan when transacting at MYR3,000,000 and above.
Transactions without supporting documentation or with incomplete
or unclear purpose code and payment purpose description will be
delayed or rejected.
J.P. Morgan AOO’s can facilitate MYR transactions from Non-
Resident Entities abroad into Malaysia in accordance to FE Policy.
Non-Resident Remittance Service Providers may engage J.P.
Morgan AOO’s to facilitate MYR transactions into Malaysia, on
behalf of Non-Resident and Resident Individual clients, in
accordance to FE Policy.
Non-Resident Financial Institutions acting on behalf of a Non-
Resident client, may only facilitate settlement of international
trade in goods or services with a Resident in Malaysia;. MYR
transactions for all other purposes are not permitted.
Mandatory Transaction Information Required from Remitter to
AOO
The
residency status of the ultimate remitter and beneficiary as
defined under BNM’s Foreign Exchange Policy
(Continued on next page)
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 42
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Malaysia
Malaysia
Malaysia
Continued
Continued
Continued
Type of transaction, whether the Non-Resident Remitter’s own or 14320 Wages and salaries in kind/benefits Resident/ Head office 35300 Capital provided to /received by branches Resident
transaction undertaken by the Non-Resident Remitter on behalf of
another entity or individual;
Institutional sector code of the Non-Resident Remitter. In case the
transaction is undertaken by the Non-Resident Remitter on behalf
of another Non-Resident Remitter, the sector should reflect the
ultimate Non-Resident Remitter's sector. As an example, non-
resident financial institutions or remittance companies to declare
the sector of their non-resident clients.
Common AOO Transactions in MYR Examples:
Payment
Purpose
Purpose
Code
Purpose Description Payable To
Goods / Please select Settlement of trade in goods, and Resident/
Services* appropriate settlement of services in any manner.
Non-
IMPORTANT:
code from Payment between non-residents has to be
Resident*
Non-Resident
Malaysia’s for settlement of domestic trade in goods
(Note:
Financial
payment
or services in Malaysia. Please specify what
Payment
Institutions
purpose code
kind of goods or services based on
between
acting on behalf
listing. purpose code selected, e.g. 6000
-
Non-
of Non-
Resident
Manufactured goods (please specify what
residents
clients may
kind of manufactured goods).
must be for
ONLY facilitate
settlement
settlement of
of domestic
international
goods/servi
trade in goods
ces in
or services with
Malaysia
a Resident in
only)
Malaysia)
Ringgit Asset Settlement of a ringgit asset including any Resident/
income and profit due from the ringgit Non-
asset. Please specify what kind of ringgit Resident
asset, e.g. 36410 - Purchase of Malaysian
Government securities.
Compensation
14310
Wages and salaries in cash: Amounts
Resident/
of Employees* payable in cash (or any other financial
Non-
(Note: For instruments used as means of payments)
Resident
compensation to employees in return for labor input
(Note:
earned in rendered, before deducting withholding
Payment
Malaysia only) taxes and employees’ contributions to
between
social insurance schemes. Included are
Non
basic wages and salaries; extra pay for
residents
overtime, night work, and weekend work;
must be for
cost of living allowances, local allowances,
compensati
and expatriation allowances; bonuses;
on earned
annual supplementary pay, such as
in Malaysia
“thirteenth month” pay; allowances for
only)-
transportation to and from work; holiday
pay for official holidays or annual holidays;
and housing allowances. Excludes
reimbursement by employers of
expenditures made by employees in order
to enable them to take up new or
relocated jobs.
Management 16773
Consulting
Services
Advertising, 16760
Market
Research and
Public Opinion
Polling Services
Equity 35140
investment
other than
mergers and
acquisitions
attributable to employees: Amounts
payable in the form of goods, services,
interest forgone, and shares to employees
in return for labor input rendered. Include
meals; accommodation; sports, recreation,
or holiday facilities for employees and their
families; transportation to and from work;
goods and services from the employer’s
own processes of production; bonus
shares distributed to employees
; and so
forth. The goods or services may be
provided free or at a reduced cost. Also
includes Employee Stock Options (ESOs).
Charges for services associated with
provision of advice, guidance or
operational assistance to business and
public relations services which includes
advisory, guidance and operational
assistance services proceeded to
businesses for business policy and
strategy, overall planning, structuring and
control of an organization. Includes
management auditing, market
management, human resources,
production management and project
management consulting, and services
related to improving the image of the
clients and their relations with public and
other institutions.
Charges for advertising, market research
for design, creation, and marketing of
advertisements by advertising agencies;
media placement, including the purchase
and sale of advertising space; exhibition
services provided by trade fairs; promotion
of products abroad; market research; and
public opinion polling abroad on various
issues. Include also commissions,
brokerage fees levied by non-financial
intermediaries.
Equity investment of a parent company
i.e.
direct investor in its subsidiaries or
affiliates i.e. direct investment enterprise,
through the purchase of existing
shareholders' interests or subscription in
the expanded paid up capital of the entity,
or through share swaps. Also includes
equity investment for the establishment of
a new entity.
Non-
Resident
Resident/
Non-
Resident*
(Note:
Payment
between
Non-
residents
must be for
services
rendered in
Malaysia
only)
Resident/
Non-
Resident*
(Note:
Payment
between
Non-
residents
must be for
services
rendered i
n
Malaysia
only)
Resident
accounts in from head office with no repayment
branches obligation.
Payment Formatting Rules for MYR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), address and country of the ordering
customer. Use of initials can delay receipt of funds.
Beneficiary Customer (SWIFT MT103 F59): Include account, full
name (no initials), address and country of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
In J.P. Morgan Access, the ‘Beneficiary Name’ field has a 35
character limit and longer beneficiary names can be continued in
‘Address Line 1’.
Beneficiary Bank (SWIFT MT103 F57): Include sort code (if
applicable), SWIFT BIC with branch identifier, full name, and
address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxMYxx or
xxxxMYxxxxx.
Remittance Information (SWIFT MT103 F70) or Sender to Receiver
Information (SWIFT MT103 F72
Provide a purpose for payment code and the reason for payment
proceeded by “/ACC/, and mandatory transaction information (i.e.
transaction type, institutional sector code, beneficiary and ultimate
remitter’s residency status. Payments received without mandatory
transaction information may be cancelled and returned to the
remitter
Format:
/ACC/PURPOSE/5!n/24x
/REP/3x/2x
/BENEFRES/2x/ORDERRES/2x
If submitting a PaySource GFF file, this should be included on the
first line of SR record with proposed format as /REG/5!n/24x (REG
= code word for regulatory reporting, 5!n = five digits valid ITIS
purpose code, 24x = 24 alphanumeric purpose description).
If submitting a SWIFT, apply the same input format under SWIFT
MT103 F70 or F72.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 43
Compensation
of Employees*
(Note or
compensation
earned in
Malaysia only)
2024 Global Wires Payments Formatting Requirements Guide
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Maldives
Mali
Malta
MVR – Maldivian Rufiyaa
XOF
– West African CFA Franc
EUR – Euro
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.mma.gov.mv.
Payment Formatting Rules for MVR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name, and address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxMVxx or
xxxxMVxxxxx.
The exact location of the branch must be provided.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
Local market is closed every Friday
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Additional Documentation: Additional supporting documentation
may be required from the beneficiary.
Payment Formatting Rules for XOF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address, and telephone number
of the beneficiary customer. Use of initials may delay receipt of
funds by the beneficiary.
It is mandatory to format account numbers for beneficiaries with
accounts in Mali according to the below specifications.
Account numbers should be 24 characters consisting of the 5
character bank code (including the 2 character country code) + 5
character branch code + 12 digit account number + 2 digit Clé RIB.
Country Code ML
Length 24!c
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxMLxx or
xxxxMLxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
This country is a member of the Central Bank of West African
States.
XOF is a zero decimal currency.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Country Requirements/Restrictions
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Malta.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials) and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Malta must be
included in the payment instructions.
Account # Ex 12345ABCDEFG123H
Country Code MT
Structure MT2!n4!a5!n18!c
Length 31!c
Electronic Format Ex. MT98ABCD765432112345ABCDEFG123H
Print Format Ex.
MT98 ABCD 7654 3211 2345 ABCD EFG1 23H
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxMTxx or
xxxxMTxxxxx.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 44
2024 Global Wires Payments Formatting Requirements Guide
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Last Updated: February 16, 2024
Maur
itania
MRU – Mauritanian Ouguiya
Overview
Information provided by the Beneficiary: Remitter should obtain
all required bank information from the Beneficiary (e.g. SWIFT BIC,
IBAN, and beneficiary bank address).
• Central Bank: For additional information, please refer to
www.bcm.mr.
Country Requirements/Restrictions
Payments toward the fishing and mining industries, and payments
related to exports are not supported
Payment Formatting Rules for MRU
Ordering Customer (SWIFT MT103 F50): Include account number,
full name (no initials), and address of the ordering customer. Use
of initials can delay receipt of funds by the beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
– IBAN numbers for beneficiaries with accounts in Mauritania
must be included in the payment instructions.
Account # Ex MR12 3456 3456 7891 2345 6789 123
Country Code MR
Structure MR2!n5!n5!n11!n2!n
Length 27!c
Electronic Format Ex. MR1234563456789123456789123
Print Format Ex. MR12 3456 3456 7891 2345 6789 123
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxMUxx or
xxxxMUxxxxx.
• Reason for Payment (SWIFT MT103 F70): Purpose of
payment is mandatory.
Mauritius
MUR – Mauritian Rupee
Overview
• Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary
(e.g. SWIFT BIC, IBAN, and beneficiary bank address).
• Central Bank: For additional information, please refer to
www.bom.mu.
Payment Formatting Rules for MUR
• Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
• Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds
by the beneficiary.
– IBAN numbers for beneficiaries with accounts in Mauritius must
be included in the payment instructions.
Account # Ex
MU12 ABCD 3456 7891 2345 6789 123M UR
Country Code MU
Structure MU2!n4!a2!n2!n12!n3!n3!a
Length 30!c
Electronic Format Ex. MU12ABCD3456789123456789123MUR
Print Format Ex.
MU12 ABCD 3456 7891 2345 6789 123M UR
• Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of
the beneficiary bank.
– SWIFT BIC is 8 or 11 alphanumeric characters: xxxxMUxx or
xxxxMUxxxxx.
• Reason for Payment (SWIFT MT103 F70): Purpose of
payment is mandatory.
Mexico
MXN – Mexican Peso
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, CLABE, and beneficiary bank address).
Country Requirements/Restrictions
Currency & Clearing Information: Mexico has high and low value
electronic payment systems.
Account Restrictions: Residents can open and maintain foreign
currency accounts domestically and abroad. However, only
companies residing in Mexico or residents in the northern border
areas (e.g., Baja California) are allowed to hold foreign exchange
demand deposit accounts domestically.
Payment Formatting Rules for MXN
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include 18-digit
CLABE, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Payments to individuals and corporations must quote the
beneficiary account number in CLABE format. CLABE is the 18-digit
standardized beneficiary bank account number (like IBAN).
Beneficiary Bank (SWIFT MT103 F57): Include the Beneficiary
Bank’s Nostro Account Number and SWIFT BIC with branch
identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes in Mexico for cross-
border payments. SWIFT BIC is key to routing payments.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxMXxx or
xxxxMXxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Mexico clearing systems only accept 40 alpha-numeric characters
in the payment details field. If the text in this field exceeds this
limitation, the information following the first 40 characters is
truncated.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 45
2024 Global Wires Payments Formatting Requirements Guide
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Last Updated: February 16, 2024
Mongolia
Monaco
Montenegro
MNT – Mongolian Tugrik
EUR – Euro
EUR – Euro
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.mongolbank.mn/eng.
Country Requirements/Restrictions
Payment Restrictions: If necessary, banks may set limits up to
25% of the company or individual’s equity capital on total cash FX
purchases for each business day.
Payment Formatting Rules for MNT
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address, of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
exact location of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxMNxx or
xxxxMNxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
The Bank of Mongolia has the right to revoke FX payments for
failure to provide timely reporting, accurate information, and
timely payment settlements.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Country Requirements/Restrictions
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Monaco.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Monaco must be
included in the payment instructions.
Account # Ex 1234567891A
Country Code MC
Structure MC2!n5!n5!n11!c2!n
Length 27!c
Electronic Format Ex. MC9876543219871234567891A65
Print Format Ex. MC98 7654 3219 8712 3456 7891 A65
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxMCxx or
xxxxMCxxxxx.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.cbmn.org/eng.
Country Requirements/Restrictions
Currency & Clearing Information: Montenegro has adopted the
Euro as its official currency, despite not being a member of the
European Union (EU).
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Montenegro must
be included in the payment instructions.
Account # Ex 123 4567891234567 89
Country Code ME
Structure ME2!n3!n13!n2!n
Length 22!c
Electronic Format Ex. ME98123456789123456789
Print Format Ex. ME98 1234 5678 9123 4567 89
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxMExx or
xxxxMExxxxx.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 46
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Montserrat
Morocco
Mozambique
XCD – East Caribbean Dollar
MAD – Moroccan Dirham
MZN – Mozambican Metical
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.eccb-centralbank.org.
Payment Formatting Rules for XCD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxMSxx or
xxxxMSxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bkam.ma.
Payment Formatting Rules for MAD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include 24-digit
account number, full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
exact location of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxMAxx or
xxxxMAxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bancomoc.mz.
Country Requirements/Restrictions
Account Restrictions: Residents and non-residents may hold
foreign currency accounts.
Payment Formatting Rules for MZN
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and Full beneficiary street address is
required - district, avenue and house number, city or village and
country. Use of initials may delay receipt of funds by the
beneficiary.
Include the beneficiary’s 25-digit Número de Identificação Bancária
or Bank Identification Number (NIB). The structure of the NIB
number is MZ59 + 21 digits.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
exact beneficiary bank location.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxMZxx or
xxxxMZxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended. 9 digits NUIT (Taxpayer Single Identification
Number) is mandatory. Any missing information may result in
payment delays.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 47
2024 Global Wires Payments Formatting Requirements Guide
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Myanmar
MMK – Myanmar Kyat,
currently suspended
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
https://www.cbm.gov.mm.
Payment Formatting Rules for MMK
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), street address and city of the
beneficiary customer.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxMMxx or
xxxxMMxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended. Any information that is vague/incomplete may
need further clarification and result in payment delays. 4-digit ITRS
code (purpose of payment code) is mandatory for all MMK
payments. It should begin with the prefix ITRS followed by a space
and then the 4-digit ITRS code. (e.g. ITRS XXXX).
Please contact your J.P. Morgan Service Representative for list of
ITRS codes.
Currently Suspended for Payments
Additional Information
This is a zero decimal currency and therefore does not have cents
Namibia
NAD – Namibian Dollar
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bon.com.na.
Payment Formatting Rules for NAD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (8-13 digit only account number required), full name (no
initials) and address of the beneficiary customer. Use of initials
may delay receipt of funds by the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxNAxx or
xxxxNAxxxxx.
Reason for Payment (SWIFT MT103 F70):
Purpose of payment is recommended.
For tax payments to "The Receiver of Revenue" the remitter will
need to provide their tax number (TIN) as per their tax certificate.
The tax number must be provided in the payment instructions in
field 70 along with the purpose of the tax description (e.g., income
tax, VAT, Withholding Tax, Stamp Duty, etc.). The prefix ‘TIN’, ‘Tax’
or ‘Tax ID’ must be included before the tax number.
Additional Information
Local regulatory reporting applies to all foreign currency
payments.
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Nepal
NPR – Nepalese Rupee
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.nrb.org.np.
Country Requirements/Restrictions
Payment Restrictions: Restrictions exist for most capital
transactions. Most payments and transfers are subject to prior
approval by the government.
Trade related payments are not supported (both imports and
exports).
• Account Restrictions: Residents may hold foreign currency
accounts.
Per the directive by the Central Bank of Nepal – Nepal Rastra Bank,
for all remittances received from abroad, in favor of NGO’s, the
beneficiaries are required to provide to their bank, supporting
documentation that they are approved by the Social Welfare
Council (SWC) for funds to be released, as per the Social Welfware
Act, 2049 B.S. Our correspondent banks will request these
documents from the beneficiary banks and release the payment on
receipt. Please be mindful, SWC approval onshore is on a project
basis, there may be instances where a specific NGO payment may
have gone through in the past, but may require further approvals
for the next project. Examples of supporting documents can be a
notification letter to the SWC, or specific approval granted by the
SWC, etc. Beneficiary bank will reach out to the beneficiary for
these documents.
Payment Formatting Rules for NPR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
exact location of beneficiary bank location.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxNPxx or
xxxxNPxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended. 9-digit Permanent Account Number (PAN) of the
beneficiary should be included for (i) payments related to social
media content and software development by individuals or
corporations or equivalent and (ii) payments related to any
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 48
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
consultancy services would apply to individual only. Such payments
would involve a 1% advance Income Tax.
Netherlands
Netherlands Antilles
- Curacao
EUR – Euro
ANG – Netherlands Antillean Guilder
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.dnb.nl.
Country Requirements/Restrictions
Account Restrictions: Residents and non-residents are permitted
to open and maintain domestic and foreign currency accounts both
locally and abroad.
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in the Netherlands.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in the Netherlands
must be included in the payment instructions.
Account # Ex 123 45 67 891
Country Code NL
Structure NL2!n4!a10!n
Length 18!c
Electronic Format Ex. NL98ABCD1234567891
Print Format Ex. NL98 ABCD 1234 5678 91
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxNLxx or
xxxxNLxxxxx.
Additional Information
Banks practice value dating.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.centralbank.cw.
Payment Formatting Rules for ANG
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and complete address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxANxx or
xxxxANxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
ANG FX transactions can be delivered to banks licensed to operate
local currency accounts
Payments to Bancaribe Curacao (CARACWCUXXX) are not
permitted
Payments where the underlying remitter is an MSB or PSP are not
supported.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 49
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
New Zealand
Nicaragua
Niger
NZD – New Zealand Dollar
NIO – Nicaraguan Cordoba
XOF – West African CFA Franc
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, NZ Clearing Code, and beneficiary
bank address).
Central Bank: For additional information, please refer to
www.rbnz.govt.nz.
Payment Formatting Rules for NZD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Avoid P.O. Box numbers and include city, state, country and postal
code for the ordering customer’s address.
For payments out of New Zealand, NZ Clearing Code must be
included in the ordering details.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials or failure to provide full beneficiary
customer details may result in payment details.
New Zealand dollar account numbers (16 digits) consist of a 6-digit
NZ Clearing Code followed by a 7-digit account number then
followed by a 3-digit suffix (e.g., 1234561234567123 OR
12345612345678123).
The NZ Clearing Code is a 6-digit Bank and Branch number where
the first 2 digits specify the bank and the last 4 digits specify the
branch.
Avoid P.O. Box numbers and include city, state, country and postal
code for the beneficiary customer’s address.
Beneficiary Bank (SWIFT MT103 F57): Include the Bank and
Branch number (NZ Clearing Code) and SWIFT BIC, full name, and
address of the beneficiary bank.
New Zealand banks are identified by a 6-digit Bank and Branch
number, often referred to as a NZ Clearing Code, where the first 2
digits specify the bank and the last 4 digits specify the branch, (e.g.
11-2908). For payments into New Zealand, NZ Clearing Code must
be included in the beneficiary bank details in the format
//NZ112908.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxNZxx or
xxxxNZxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bcn.gob.ni.
No payments under 100.00 USD equivalent.
Payments to individuals under 300.00 USD equivalent can only be
made if the beneficiary has an account at Banco Lafise.
Payment Formatting Rules for NIO
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
There are no specific beneficiary account number requirements in
this country.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxNIxx or
xxxxNIxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Additional Documentation: Additional supporting documentation
may be required from the beneficiary.
Payment Formatting Rules for XOF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), address, and telephone number of
the beneficiary customer. Use of initials may delay receipt of funds
by the beneficiary.
It is mandatory to format account numbers for beneficiaries with
accounts in Niger according to the below specifications.
Account numbers should be 24 characters consisting of the 5
-
character bank code (including the 2-character country code) + 5-
character branch code + 12-digit account number + 2-digit Clé RIB.
Country Code NE
Length 24!c
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxNExx or
xxxxNExxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
This country is a member of the Central Bank of West African
States.
XOF is a zero-decimal currency.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 50
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Nigeria
Norway
Norway
NGN – Nigerian Naira
NOK – Norwegian Krone
Continued
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
https://www.cbn.gov.ng/.
Country Requirements/Restrictions
Payments related to investments from foreign investors require a
Certificate of Capital Importation (CCI) and should be sent in USD
only, as the beneficiary bank must perform the conversion
onshore. Remitter must request the beneficiary to apply for the CCI
from their local bank in Nigeria prior to initiating the USD payment.
The beneficiary bank will issue the CCI once the funds are
converted and credited to the beneficiary account. Failure to
obtain a CCI may result in difficulties when repatriating interests,
profits, dividends and original investment amount.
Effective immediately, Payments to individuals from
corporations/organizations are permitted again. However where
underlying remitter is an individual such payments are still not
permitted. Payments between corporations/organizations continue
to be supported.
Payment Formatting Rules for NGN
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) address of the beneficiary customer.
Use of initials may delay receipt of funds by the beneficiary.
Include the beneficiary’s 10-digit NUBAN account number.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes for this country for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxNGxx or
xxxxNGxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.norges-bank.no.
Country Requirements/Restrictions
Currency & Clearing Information: Norway is adopting the payment
practices of the European Union (EU), although the country has not
adopted the Euro.
Account Requirements: Residents and non-residents are permitted
to open and maintain domestic or foreign currency accounts either
locally or abroad. However, residents can’t convert their domestic
currency into foreign currency.
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Norway. SEPA
standards do not apply to Norwegian krone payments.
Payment Formatting Rules for NOK
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
Use of IBAN numbers is highly recommended. IBAN is required for
all EUR payments subject to SEPA standards.
Account # Ex 1234 56 78912
Country Code NO
Structure NO2!n4!n6!n1!n
Length 15!c
Electronic Format Ex. NO9812345678912
Print Format Ex. NO98 1234 5678 912
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxNOxx or
xxxxNOxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
For category 2 message types with a Norwegian bank in Field 57A
and information in Field 72, the receiving bank will process the
payment as a straight-through without considering the Field 72
information.
Shared charges may be applied for payments in the EEA, subject to
PSD2 regulations. This may result in deductions to the amount
received by the beneficiary.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 51
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Oman
Pakistan
Pakistan
OMR – Omani Rial
PKR – Pakistani Rupee
Continued
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.cbo-oman.org.
Payment Formatting Rules for OMR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address (street address, city,
country) of the beneficiary customer. Use of initials may delay
receipt of funds by the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxOMxx or
xxxxOMxxxxx.
Reason for Payment (SWIFT MT103 F70): 3 digit Purpose of
payment code is mandatory. Contact your J.P. Morgan Service
Representative for list of purpose codes.
Additional Information
The local market is closed on Fridays.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.sbp.org.pk.
Country Requirements/Restrictions
Additional Documentation: Additional supporting documentation
may be required from the beneficiary. The beneficiary needs to
complete the Inward Remittance form (Form R) outlining the
reason for payment.
The beneficiary’s bank must forward Form R to our correspondent
bank before the funds can be released.
It is recommended that the remitter notify the beneficiary about
the payment in advance.
Please note that if the beneficiary is registered locally as an NGO,
INGO or NPO, they may be required to provide the Memorandum
of Understanding (MOU) signed with Government of Pakistan and
one of the following documents to be submitted together with the
Form R.
Registration with Economic Affair Division (EAD)
Registration with Ministry of Interior (MOI)
For funding accounts based outside of the United States, we are
unable to support donation and charity payments to individual
beneficiary accounts
Payment Formatting Rules for PKR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), full address including country code
of the ordering customer. Use of initials can delay receipt of funds
by the beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) , full address including
country code of the beneficiary customer.
Use of initials may delay receipt of funds by the beneficiary.
IBAN numbers for beneficiaries with accounts in Pakistan must be
included in the payment instructions.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxPKxx or
xxxxPKxxxxx.
Full beneficiary bank name and address is required to avoid
payment delays.
Beneficiary bank branch address can also be mentioned in F72 if
only Swift BIC is included in field 57.
Below format is acceptable for beneficiary bank details:
Format :
57A: Swift BIC code
72: bene bank branch complete address (Should be clearly
indicated)
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended. Purpose of payment of gift and donations are not
permissible for individual beneficiary. Include the Remitter and
beneficiary customer identity number e.g : NICOP/ Passport No./
CNIC/ Entity Registration No./ Any other Unique ID. (This
information can included in 72).
Additional Information
FX payments to Pakistan in PKR crediting a non-resident account
are not supported.
If the beneficiary banks with our onshore correspondent banks, the
transfer is typically completed within 2-3 business days. If the
beneficiary does not have an account with our correspondent
banks, all transfers will be effected via banker’s draft and can take
up to 5 business days to clear.
Account # Ex 12345678912345
Country Code PK
Structure PK2!n4!a16!c
Length 24!c
Electronic Format Ex. PK98ABCD7612345678912345
Print Format Ex. PK 98 ABCD 7612345678912345
(Continued on next page)
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 52
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Papua New Guinea
Paraguay
Peru
PGK – Papua New Guinea Kina
PYG – Paraguayan Guarani
PEN – Peruvian Sol
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bankpng.gov.pg.
Country Requirements/Restrictions
Payment Restrictions: Foreign exchange is subject to restrictions.
Payments can only be made to on-shore residents with an in
country presence.
Additional Documentation: Additional supporting documentation
may be required from the beneficiary.
Payment Formatting Rules for PGK
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxPGxx or
xxxxPGxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Payment Formatting Rules for PYG
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxPYxx or
xxxxPYxxxxx.
Reason for Payment (SWIFT MT103 F70):
Purpose of payment is recommended.
Beneficiary tax ID (for individuals) cédula de identidad or passport
is accepted (mandatory Field 70 information).
Beneficiary tax ID (for companies) RUC will always start with the
numbers 800 followed (mandatory Field 70 information)
Additional Information
PYG is a zero decimal currency.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, CCI number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bcrp.gob.pe.
Payment Formatting Rules for PEN
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
If sending a MT101 or MT103 where there is a beneficiary customer
included in field 59, you must include the 20-digit account number
(CCI - Código de Cuenta Interbancario).
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
If sending a MT202 where an intermediary bank is stated in field
56A, make sure field 57A includes the 20-digit CCI number of the
beneficiary’s account with the institution as well as the SWIFT BIC.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxPExx or
xxxxPExxxxx.
Reason for Payment (SWIFT MT103 F70): Tax ID and Purpose of
payment is recommended.
In the first line of this field, please include the following: If the
beneficiary is a corporate entity, include the 11-digit RUC (local tax
ID) number. For residents, include the 8-digit DNI (Documento
Nacional de Identidad). For foreigners living in Peru, include the
Carnet de Extranjeria (Foreign Registration Card) number.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 53
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Philippines
Philippines
Poland
PHP – Philippine Peso
Continued
PLN – Polish Zloty
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bsp.gov.ph.
Country Requirements/Restrictions
Payment Restrictions: PHP can only be converted in-country and
can’t be held offshore.
Receipts in excess of PHP 500,000 or foreign currency equivalent
must be reported to the Anti-Money Laundering Committee
Account Restrictions: Non-residents may hold domestic and
foreign currency accounts subject to certain conditions under the
BSP Manual of Regulations on FX transactions.
Additional Documentation: Additional supporting documentation
may be required from the remitter and beneficiary.
Payment Formatting Rules for PHP
Ordering Customer (SWIFT MT103 F50): For all transactions in
and out of the Philippines, including those paid through an
intermediary bank, include account number, full name (no initials),
date of birth/incorporation and address of the ordering customer.
Failure to provide full ordering customer details may result in
payment delays.
Avoid P.O. Box numbers and include street address, city, state,
country, and postal code for the ordering customer’s address.
Beneficiary Customer (SWIFT MT103 F59): For all transactions in
and out of the Philippines, including those paid through an
intermediary bank, include account number, full name (no initials)
and address of the beneficiary customer. Failure to provide full
beneficiary customer details may result in delays or returns.
Avoid P.O. Box numbers and include street address, city, state,
country and postal code for the beneficiary customer’s address.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxPHxx or
xxxxPHxxxxx.
Reason for Payment (SWIFT MT103 F70): The purpose of
payment is required to be reported for all incoming and outgoing
cross-border wire payments. Effective September 4th, 2023,
payments received without a specific purpose code will be placed
on hold for 5 banking days and if not provided by this time, will be
cancelled and returned to the remitter. Payments received without
a specific purpose code may be cancelled and returned to the
remitter. Provide a purpose for payment formatted as
“/ACC/PURPOSE/9999999999” or “/REG/9999999999” where
“9999999999” is the 10-digit purpose code. Contact your J.P.
Morgan Service Representative for list of purpose codes or
download from
https://cc.jpmorgan.com/rs/857-YNY-
695/images/2023_ITRS_Purpose_Codes.pdf
Regulatory Reporting (Swift MT103 Field 77B): Remitter date of
incorporation (DOI) where remitter is a company or Remitter date
of birth (DOB) where remitter is an individual is required to be
included for all PHP payments. Payments received without
DOB/DOI maybe cancelled & returned to the remitter. Please
provide DOI in the format /ORDDOI/PH/
YYYYMMDD
)> OR DOB in
the format /ORDDOB/PH/
YYYYMMDD
)> in field 77B. [Note: This is
currently not mandatory for PHP payments initiated from accounts
held with JPMorgan Chase Bank N.A. Manila branch & also
JPMorgan Chase Bank N.A. branches in the EMEA region.
Additional Information
Due to heightened AML requirements in the Philippines, any
transaction may be pulled up (particularly if the POP is unclear)
and placed on hold pending supporting documentation to be
provided by the remitter, such as but not limited to: invoices,
shipping manifests, employment contracts for salary payments,
etc. before a payment is cleared.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.nbp.pl.
Country Requirements/Restrictions
Currency & Clearing Information: Poland is a member of the
European Union (EU) and is adopting the payment practices of the
European Union. However, the country has not adopted the euro.
Account Restrictions: Residents and non-residents are permitted
to open and maintain domestic or foreign currency accounts either
locally or abroad. However, residents can’t convert their domestic
currency into foreign currency.
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Poland. SEPA standards
do not apply for Polish zloty payments.
Payment Formatting Rules for PLN
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
Use of IBAN numbers is highly recommended. If IBAN is not
provided, there is a high risk the payment will be returned. IBAN is
required for all EUR payments subject to SEPA standards.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
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Poland
Portugal
Qatar
Continued
EUR – Euro
QAR – Qatari Riyal
Account # Ex 12 3456 7891 2345 6789 1234 5678
Country Code PL
Structure 8!n16!n
Length 28!c
Electronic Format Ex. PL12345678912345678912345678
Print Format Ex. PL12 3456 7891 2345 6789 1234 5678
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxPLxx or
xxxxPLxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Tax Payments must include additional details:
NIP (Numer Identyfikacji Podatkowej) or REGON Rejestr Gospodarki
Narodowej (Register of the National Economy)
• Period of time the payment is for
• Kind of tax being paid
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bportugal.pt.
Country Requirements/Restrictions
Payment Restrictions: No restrictions on payment amount.
All transactions between residents and non-residents above EUR
12,500 must be reported to the Banco de Portugal.
Payments made to and from accounts held by residents abroad
must be reported to the Banco de Portugal.
Account Restrictions: Residents and non-residents are permitted
to open and maintain domestic or foreign currency accounts either
locally or abroad.
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Portugal.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Portugal must be
included in the payment instructions.
Account # Ex 1234.5678.91234567891.23
Country Code PT
Structure 4!n4!n11!n2!n
Length 25!c
Electronic Format Ex. PT98123456789123456789123
Print Format Ex. PT98 1234 5678 9123 4567 8912 3
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxPTxx or
xxxxPTxxxxx.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Payment Formatting Rules for QAR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address (street address, city,
country) of the beneficiary customer. Use of initials may delay
receipt of funds by the beneficiary.
IBAN numbers for beneficiaries with accounts in Qatar must be
included in the payment instructions.
Account # Ex 12345678912345ABCDEFG
Country Code QA
Structure QA2!n4!a21!c
Length 29!c
Electronic Format Ex. QA98ABCD12345678912345ABCDEFG
Print Format Ex. QA98 ABCD 1234 5678 9123 45AB CDEF G
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes in this country for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxQAxx or
xxxxQAxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
The local market is closed on Fridays.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
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2024 Global Wires Payments Formatting Requirements Guide
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Republic of the Congo
XAF – Central African CFA Franc
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Additional Documentation: Additional supporting documentation
may be required from the beneficiary.
Payment Formatting Rules for XAF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address, and telephone
number of the beneficiary customer. Use of initials may delay
receipt of funds by the beneficiary.
Account numbers should be 23 digits. The RIB code consists of the
5 digit bank code + 5 digit branch code + 11 digit account number +
2 digit key.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name, and address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxCGxx or
xxxxCGxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
This country is a member of the Bank of Central African States.
XAF is a zero decimal currency.
Romania
RON – Romanian Leu
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Country Requirements/Restrictions
Currency & Clearing Information: Romania is a member of the
European Union (EU) and is adopting the payment practices of the
European Union. However, it has not adopted the euro.
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Romania.
Payment Formatting Rules for RON
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds .
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Romania must be
included in the payment instructions.
Account # Ex RO98 ABCD 7E65 4321 9876 5432
Country Code RO
Structure 4!a16!c
Length 24!c
Electronic Format Ex. RO98ABCD7E65432198765432
Print Format Ex. RO98 ABCD 7E65 4321 9876 5432
If the final beneficiary is TREZROBU (Ministry of Public Finance),
the NIF tax code is required.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxROxx or
xxxxROxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
Customer transfers will be executed in accordance with the
banking practices of the receiving bank and within four days after
receipt of the instructions.
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Russia
RUB – Russian Ruble,
currently suspended
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.cbr.ru.
Regulatory Requirements/Restrictions
Currency & Clearing Information: The Central Bank of Russia
coordinates payments and settlements between 70+ regional
centers. Payments are currently sent by batch multiple times daily.
All batch processed payments in the same region are typically
settled by the Central Bank of Russia on a same day basis.
Payments to different regions may take up to three business days.
All payments in Russian ruble exceeding RUB 100mm need to be
routed via the real time gross settlement ("RTGS") clearing system
called Banking Electronic Speed Payment System (BESP)
Payment Restrictions: There are no restrictions on the types of
payments allowed.
The beneficiary may need to open a passport at the local
beneficiary bank for a payment for goods and services or loan
exceeding USD 5,000.
Account Restrictions: Residents and non-residents are permitted
to open and maintain domestic and foreign currency accounts
either locally or abroad. Residents must notify the tax authorities
of any foreign-maintained accounts.
Additional Documentation: Cross-border payments are settled
via correspondent bank accounts and often require supporting
documentation. The Russian correspondent bank must receive all
documentation before it releases the payment to the beneficiary
bank.
Payment Formatting Rules for RUB
Payment instructions must include a wide array of country-specific
information in addition to standard remittance information. Please
be aware that your RUB payment may be cancelled if you fail to
include this information in your payment instructions.
Ordering Customer (SWIFT MT103 Field 50): Include account
number, full name (no initials) and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
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Russia
Continued
Beneficiary Customer (SWIFT MT103 Field 59): Include the
beneficiary’s 20-digit account number, full name, address, and
individual tax payer number (INN).
Line 1: Account Number (20 digits)
Line 2-3: Remitter Name
Line 4: City, Country
Line 5: INN Code
If there is only one beneficiary bank (Russian bank) and
beneficiary, include the beneficiary customer’s 20-digit account
number in this field. If an intermediary is used, the 20-digit account
number of the beneficiary bank should be included in SWIFT MT103
F57.
First name, family name, and patronymic name must be included.
Use of initials can delay receipt of funds by the beneficiary.
Companies must include full name as well as legal ownership (e.g.
LLC, JSC).
INN is the taxpayer’s identification code assigned by the Russian
Tax authority. The length of this code varies based on the type of
beneficiary. If the beneficiary is an individual, this field is optional
and consists of 12 digits. If the beneficiary is a Russian legal entity,
this field is mandatory and consists of 10 digits. If the beneficiary is
a foreign legal entity, this field is mandatory and consists of 5 digits
or 10 digits, depending on whether or not the foreign legal entity
conducts business in Russia.
If the payment is a tax payment, then the reason code KPP should
be included in SWIFT MT103 F59.
SWIFT MT103 F70 may be used for the telephone number.
Beneficiary Bank (SWIFT MT103 Field 57): Include the BIK, 20-
digit account number, and SWIFT BIC of the beneficiary bank.
BIK, formerly known as MFO, is a nine-digit number that the
Central Bank of Russia gives to all Russian banks. The last three
digits are the same as the correspondent account of the bank with
the Central Bank of Russia. The format for the nine-digit BIK and
twenty-digit account number should read: /RUXXXXXXXXX
XXXXXXXXXXXXXXXXXXXX.
If there is an intermediary bank in SWIFT MT103 F56A, make sure
F57A includes the 20 digit account number of the beneficiary bank
as well as the SWIFT BIC.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxRUxx or
xxxxRUxxxxx.
Russia
Continued
Intermediary Bank (SWIFT MT103 Field 56): If an intermediary is
being used, include the bank’s SWIFT BIC in SWIFT MT103 F56A.
If the intermediary does not have a SWIFT BIC or if the BIC is not
available to you, include the intermediary bank’s BIK, name and
20-digit account number.
Reason for Payment (SWIFT MT103 Field 70): Purpose of
payment must be clearly identified.
The field must always start with VO and the numeric code of the
transaction. The VO code is the operation code relating to the
purpose of the payment. This should be followed by the key
details/description of the payment (e.g. contract references).
The VO Code should always be quoted as per the following format:
(VOXXXXX). There should be no spaces, dashes, dots, colons or
other characters between the «VO» and digits. The VO Code may
be placed in any line of field 72 of MT202’s or field 70 of MT103’s.
Include accurate and clear purpose of payment, date of invoice
agreement, and NDS (VAT) amount, where applicable. If VAT is
included, the amount is needed. If VAT is not to be paid, include
“NO VAT.”
Example: VO60070 FX trade dated 10/20/09 contract ref:
AF12123. The latest list of VO codes can be provided upon request.
Details of Charges (SWIFT MT103 Field 71A): It is best practice to
make RUB payments with charge indicator “OUR.”
For Tax Payments:
The below fields need to be included if the payment is related to
Tax
Status of Tax Payer (SWIFT MT103 Field 26T): Include 3 digit Tax
payer status code; possible options from ‘S01’ to ‘S15’
SWIFT MT103 Field 77B: field should be formatted as below
Line 1: /N10/2!a/N4/20n
Line 2: /N5/11n/N6/20c/N7/10x
Line 3: /N8/15x/N9/10x
N4, N5, N6, N7, N8, N9, N10 are special fields in RUR tax payment
order. Data should be provided by the ordering customer /
remitter
(Continued on next page)
Russia
Continued
N4
Code of budget classification (20 digits)
N5 OKATO Code (11 digits)
Tax payment reason (2 digits)
TP - current year payment
ZD - pay off indebtedness for previous taxation periods
BF - current tax payments of individuals
TR - pay off indebtness for previous years paid in accordance with Tax
authorities claim
RS - down payment of tax
OT - pay off deferred indebtedness
RT - pay off restructured indebtedness
VU - pay off deferred indebtedness by external control
PR - pay off indebtedness
AP - pay off indebtedness
N6
AR - pay off indebtedness
2!c taxation period. Field format is 2!c.2!n.4!n (10 symbols, ex.
KV.02.2008) where
period of payment
MS - monthly payment
KV - quarter payment
PL -semi annual payment
GD - annual payment
N7 2!n for monthly payment - number of month (from 01 to 12);
for quarter payments - quarter number (01 - 04);
for semi annual payment - 01 or 02
for annual payment - 00
4!n
year for which payment is made
N8
15x
Tax document number (upto 15 digits)
N9
10x
Tax document date (10 symbols format: DD.MM.YYYY only ex.
01.12.2001)
N10 2c Tax payment type (2 digits). Acceptable coding below:
NS : payment of tax or levy;
PL : making payment;
GP : payment of dues
VZ : payment of contribution
AV :
PE : payment of fine;
PC : interest payment;
SA : tax sanctions as envisaged by the Tax Code of the Russian
Federation;
AQ : administrative fines;
IQ : other fines as established by the respective legislation or
regulatory act
Additional Information
Back value is prohibited on RUB payments.
Bank of Russia acts as the runner of the National Payment System
(RTGS, etc.) rather than an intermediary bank. Based on that, their
SWIFT BIC or an account number with them should not be present
in field 56
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 57
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Rwanda
Saint Kitts and Nevis
Saint Lucia
RWF – Rwandan Franc
XCD – East Caribbean Dollar
XCD – East Caribbean Dollar
Overview
Restricted Currency: Please refer to the Introduction to this guide
for further details. Restricted currency payments must include all
required information or they will be canceled.
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bnr.rw.
Country Requirements/Restrictions
Additional Documentation: A copy of the beneficiary’s identity
card may be needed for final credit to the account.
Payment Formatting Rules for RWF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxRWxx or
xxxxRWxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
RWF is a zero decimal currency.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.eccb-centralbank.org.
Payment Formatting Rules for XCD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxKNxx or
xxxxKNxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.eccb-centralbank.org.
Payment Formatting Rules for XCD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Saint Lucia must
be included in the payment instructions.
Account # Ex 0001 0001 0012 0012 0002 3015
Country Code LC
Structure LC2!n4!a24!n
Length 32!c
Electronic Format Ex. LC62HEMM000100010012001200023015
Print Format Ex. LC62 HEMM 0001 0001 0012 0012 0002
3015
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxLCxx or
xxxxLCxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
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Saint Vincent and the Grenadine
Samoa
San Marino
XCD
– East Caribbean Dollar
WST – Samoan Tala
EUR – Euro
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.eccb-centralbank.org.
Payment Formatting Rules for XCD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxVCxx or
xxxxVCxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.cbs.gov.ws.
Country Requirements/Restrictions
Account Restrictions: Individuals and firms may maintain a
foreign exchange account.
The beneficiary must be an onshore resident.
Loans must be registered with the central bank.
Payment Formatting Rules for WST
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxWSxx or
xxxxWSxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in San Marino.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in San Marino must
be included in the payment instructions.
Account # Ex SM12 A345 6789 1234 5678 9123 456
Country Code SM
Structure SM2!n1!a5!n5!n12!c
Length 27!c
Electronic Format Ex. SM12A3456789123456789123456
Print Format Ex. SM12 A345 6789 1234 5678 9123 456
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxSMxx or
xxxxSMxxxxx.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
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São Tomé and Príncipe
Saudi Arabia
Saudi Arabia
STN – São Tomé and Príncipe Dobra
SAR – Saudi Arabian Riyal
Continued
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Payment Restrictions: Foreign exchange and capital transactions
are subject to some restrictions, approvals, and controls.
Payment Formatting Rules for STN
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in São Tomé and
Príncipe must be included in the payment instructions.
Account # Ex 00518453101
Country Code ST
Structure 8!n11!n2!n!
Length 25!c
Electronic Format Ex. ST68000100010051845310112
Print Format Ex. ST68 0001 0001 0051 8453 1011 2
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxSTxx or
xxxxSTxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.sama.gov.sa.
Country Requirements/Restrictions
Currency and Clearing Information: Saudi Arabia has a Real Time
Gross Settlement system, Saudi Arabian Riyal Interbank Express
(SARIE), that handles high- and low-value transfers in signal- or
bulk-payment messages. Bulk messages can contain up to 2,000
individual transfers.
Payment Formatting Rules for SAR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and full address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), address (street address, city,
country), and identification number of the beneficiary customer.
Use of initials may delay receipt of funds by the beneficiary.
IBAN numbers for beneficiaries with accounts in Saudi Arabia must
be included in the payment instructions.
Account # Ex 123456789123
Country Code SA
Structure SA2!n2!n18!c
Length 24!c
Electronic Format Ex. SA9876543219123456789123
Print Format Ex. SA98 7654 3219 1234 5678 9123
Payments to individuals must include the beneficiary’s national
identification/residence permit number. For corporations, include
the tax ID or business identification number.
(Continued on next page)
Intermediary Bank (SWIFT MT103 F56): Include Intermediary
Bank's SWIFT BIC . Populates F56 only If intermediary is being
used.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxSAxx or
xxxxSAxxxxx.
In sending a payment message to Saudi Arabian Monetary
Authority(SAMA), the sending participant must ensure that the
correct transaction and branch codes are quoted in account
number line of Field 57 (account with institution) for the
appropriate branch within SAMA to which the payment is
addressed.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
mandatory and must be clearly identified (rent, salary, medical
expenses, office expenses, etc.).
Additional Information
The local market is closed on Fridays.
P2P payments are not permitted.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
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Senegal
Serbia
Seychelles
XOF – West African CFA Franc
RSD – Serbian Dinar
SCR – Seychellois Rupee
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Additional Documentation: Additional supporting documentation
may be required from the beneficiary.
Payment Formatting Rules for XOF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), address, and telephone number of
the beneficiary customer. Use of initials may delay receipt of funds
by the beneficiary.
It is mandatory to format account numbers for beneficiaries with
accounts in Senegal according to the below specifications.
Account numbers should be 24 characters consisting of the 5
character bank code (including the 2 character country code) + 5
character branch code + 12 digit account number + 2 digit Clé RIB
Country Code SN
Length 24!c
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxSNxx or
xxxxSNxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
This country is a member of the Central Bank of West African
States.
XOF is a zero decimal currency.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.nbs.rs.
Country Requirements/Restrictions
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Serbia. SEPA standards
do not apply for Serbian dinar payments.
Payment Formatting Rules for RSD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Serbia must be
included in the payment instruction.
Account # Ex 123-4567891234567-89
Country Code RS
Structure RS2!n3!n13!n2!n
Length 22!c
Electronic Format Ex. RS98123456789123456789
Print Format Ex. RS98 1234 5678 9123 4567 89
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxRSxx or
xxxxRSxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.cbs.sc.
Payment instructions are required 48 hours before value date.
Payment Formatting Rules for SCR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
Effective October 2016, Seychelles will require an IBAN for SCR
accounts.
Account # Ex
1234567891234567
Country Code SC
Structure SC2!n4a!2n!2n!16n!3a!
Length 27!c
Electronic Format Ex. SC12SSCB98761234567891234567USD
Print Format Ex. SC12 SSCB9876 1234 5678 9123 4567 USD
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name, and address of the exact location of
the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxSCxx or
xxxxSCxxxxx.
The exact location of the branch must be provided to avoid
payment delays.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
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Sierra Leone
Singapore
Slovakia
SLE – Sierra Leonean Leone
SGD – Singapore Dollar
EUR – Euro
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bsl.gov.sl.
Country Requirements/Restrictions
Payment Restrictions: Direct investment abroad by residents is
prohibited. Foreign exchange and capital transactions have some
restrictions and certain approval requirements.
Account Restrictions: Residents and non-residents may hold
foreign exchange accounts, subject to some restrictions.
Payment Formatting Rules for SLE
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name, and address of the exact location of
the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxSLxx or
xxxxSLxxxxx.
The exact location of the branch must be provided to avoid
payment delays.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
The transition from SLL to the new currency code is SLE is now
complete. Trades submitted with currency code SLL will be
rejected. Please use SLE as the currency code.
SLE is only available as a wire payment currency from United
States-based accounts. SLE is currently not available as a
payment currency from all other branches.
Ensure that the code used within the payment instructions is the
same as the code used to book the transaction.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.mas.gov.sg.
Country Requirements/Restrictions
Payment Restrictions: The Monetary Authority of Singapore
(MAS) is liberalizing the banking sector and encouraging greater
non-resident participation in the Singapore dollar capital market.
Transactions can be freely remitted and received, and currency can
be exchanged without prior approval or provision of additional
documentation to the central bank.
No central bank reporting required for resident transactions.
Account Restrictions: Both residents and non-residents are
allowed to open SGD and foreign currency accounts in Singapore.
Residents can maintain non-SGD accounts outside Singapore
without restriction.
Non-residents are allowed to hold SGD outside of Singapore.
Payment Formatting Rules for SGD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and registered or place of business
address of the ordering customer. Use of initials can delay receipt
of funds by the beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address (street address, city
and country is required). Use of initials may delay receipt of funds
by the beneficiary.
There are no specific beneficiary account number requirements in
this country.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes in this country for cross
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxSGxx or
xxxxSGxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Country Requirements/Restrictions
Currency & Clearing Information: Currently, domestic clearing is a
non-SWIFT-based utility that is fully automated with real-time
processing capabilities. Inherited from the former Czechoslovakia,
the local clearing systems are based on the same principles and
use similar methods for processing (the only differences are due to
legal requirements for payments in both countries).
Payment Restrictions: All transactions between residents and
non-residents above EUR 12,000 must be reported to the National
Bank of Slovakia. Payments made to and from accounts held by
residents abroad must also be reported.
Account Restrictions: Residents and non-residents are permitted
to open and maintain domestic or foreign currency accounts either
locally or abroad.
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Slovakia.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Slovakia must be
included in the payment instruction.
Account # Ex 12-3456789123/4567
Country Code SK
Structure SK2!n4!n6!n10!n
Length 24!c
Electronic Format Ex. SK9876543219123456789123
Print Format Ex. SK98 7654 3219 1234 5678 9123
(Continued on next page)
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
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Slovakia
Slovenia
Solomon Islands
Continued
EUR – Euro
SBD – Solomon Islands Dollar
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name, and address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxSKxx or
xxxxSKxxxxx.
Additional Information
No notional value date rules. Payments will be effected as soon as
possible under the rules of each bank.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Country Requirements/Restrictions
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Slovenia.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Slovenia must be
included in the payment instruction.
Account # Ex 12345-6789123456
Country Code SI
Structure SI2!n5!n8!n2!n
Length 19!c
Electronic Format Ex. SI98123456789123456
Print Format Ex. SI98 1234 5678 9123 456
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxSIxx or
xxxxSIxxxxx.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.cbsi.com.sb.
Country Requirements/Restrictions
Payment Restrictions: Government approval is required for all
transactions.
Payment Formatting Rules for SBD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxSBxx or
xxxxSBxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
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South Africa
South Korea
South Korea
ZAR – South African Rand
KRW - Korean Won
Continued
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.resbank.co.za.
Country Requirements/Restrictions
Payment Restrictions: All foreign currency transactions between
residents and non-residents must be reported to the South African
Reserve Bank. Payments made to and from accounts held by
residents abroad must also be reported.
Account Restrictions: Non-residents are permitted to open and
maintain domestic or foreign currency accounts locally, with
approval from the reserve bank for any foreign currency account.
Residents are not permitted to open ZAR accounts abroad.
Resident or foreign currency accounts cannot exceed ZAR
2,000,000 equivalent.
Payment Formatting Rules for ZAR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include sort code, SWIFT
BIC with branch identifier (where required), full name, and address
of the beneficiary bank.
The sort code should always be preceded with “//ZA” followed by
the 6-digit bank code. Example: //ZA123456.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxZAxx or
xxxxZAxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
For Tax payments, include unique 19 character Payment Reference
Number (PRN). Example: /PRN/xxxxxxxxxxxxxxxxxxx.
Overview
Information provided by the Beneficiary: Beneficiary should
provide all required bank information when opening a local
account. (e.g SWIFT BIC, Account Number, and beneficiary bank
address).
Central Bank: For additional information, please refer to
http://www.bok.or.kr/eng/main/main.do
CountryRequirements/Restrictions
Payment Restrictions: The Foreign Exchange Transaction Act
(FETA) regulates foreign exchange operations, payment and
receipt of foreign exchange and certain capital movements. The
regulations are promulgated and published by the Ministry of
Economy and Finance (MOEF).
KRW is a restricted currency which cannot be held offshore and
fund transfers in KRW are allowed only within the country.
Payment against trade goods and services in KRW must fall within
the definition of “Commercial transactions” (i.e., import, export
etc.) under the relevant Korean law. If you are not certain, please
discuss with the servicing branch, otherwise your payment may be
rejected.
“Non-Commercial Transaction” flow (Capital related) are supported
on a case by case basis for this currency.
As to inter-company loans, operating funds to branch or expenses
to liaison office, the Beneficiary of the payment must hold an
account with JPMC Seoul, and its FX designated bank must be JPMC
Seoul
Foreign direct investment, purchase of securities/shares, purchase
or deposits for real estate, etc are supported on a case by case
basis for this currency.
Netting Payment: If there is any payment required after the
netting of account receivable and account payable with the
payment counterparty (beneficiary), please discuss with the
servicing branch first.
Additional Documentation: For the amount exceeding
USD100,000 equivalent, the beneficiary or the remitter will be
required to provide the supporting documents which prove that
such payments denominated in KRW is based on an underlying
Business Transaction. Copies of invoices, agreements, etc., must
be presented to the processing bank prior to the settlement of the
transaction. These supporting documents may be shared with
regulators.
When initiating KRW payments please ensure the beneficiary
account is a KRW account, otherwise the payment will be rejected
(Continued on next page)
If the beneficiary account is a non-resident account in Korea then
please inform your servicing branch before your payment
executed, otherwise this payment will be rejected
If KRW payment amount is above KRW 1 billion, it will be credited in
splits of max 1 billion to the beneficiary account.
Payment Formatting Rules for KRW
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials) and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include an account
number, full name (no initials), and address. Use of initials may
delay receipt of funds by the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): SWIFT BIC with a branch
identifier, full name and address of the beneficiary bank. SWIFT BIC
is 8 or 11 alphanumeric characters: xxxxKRxx or xxxxKRxxxxx.
Sender to Receiver Information (SWIFT MT103 F72): Mandatory
Information is required as below Purpose of the payment: Must be
clearly identified in the payment instruction. Purpose code must be
provided in the format of ‘/ACC/PURPOSE/’(5 digits), i.e. 10101.
Please refer to the payment purpose code list:
https://www.jpmorgan.com/directdoc/list-of-payment-purpose-
code-kr.pdf If you are not able to find the right purpose code from
the list, please discuss with your branch service team to get the
right code. If Payment code is one of “10103” and “10104” then
Incoterms, H.S Code and Customs clearance number are also
mandatory from the beneficiary thus process is expected longer.
Beneficiary Registration No: If the beneficiary is Corporate, please
provide 10 digits of corporate’s Business Registration Number in
the format of ‘/OTHR/BRN/1108512345’.
If the beneficiary is an Individual, please provide 13 digits of “9” in
the format of ‘/OTHR/BRN/9999999999999’. Please
DO NOT
provide an actual personal ID in the payment instruction in cases
where the beneficiary is an individual.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
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Sout
h Korea
Spain
Spain
Continued
EUR – Euro
Continued
Beneficiary Contact Number: Please provide the Beneficiary
Contact Number in the format of ‘Contact: XXXXXXXXXXX’.
Failure to include the above information in the payment Instruction
may result in a delay or rejection of the payment.
If your payment purpose code and your supporting documents are not
matched, we may amend your payment purpose code in accordance
with your supporting document.
Sample Payment Format
In case of the Beneficiary is corporate
/OTHR/BRN/1018212345 CONTACT: 02 758 5229
/ACC/PURPOSE/36006
In case of the Beneficiary is individual
/OTHR/BRN/9999999999999 CONTACT: 02 758 5229
/ACC/PURPOSE/36006
AdditionalInformation
KRW is a zero decimal currency; payments must be entered in
whole currency amounts without decimal points to avoid rejection.
For KRW payments initiated from an offshore account, JPMC Seoul
is unable to provide a Certificate of Foreign Exchange
Purchased/Deposited.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bde.es/bde/en.
Country Requirements/Restrictions
Payment Restrictions: All transactions between residents and
non-residents above EUR 50,000 must be reported to the Banco
de España. For accounts held abroad, transactions exceeding EUR
3,000,000 in a month or EUR 6,000,000 in a year must also be
reported; payments made to and from accounts held by residents
abroad must also be reported.
Account Restrictions: Residents and non-residents are permitted
to open and maintain domestic or foreign currency accounts either
locally or abroad.
Residents must report to the Banco de España the opening or
closing of accounts held abroad.
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Spain.
Payment Formatting Rules for EUR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials) and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials), and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Spain must be
included in the payment instruction.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name and address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxESxx or
xxxxESxxxxx.
Additional Information
For value date, payments will be applied as soon as possible in
accordance with the receiving bank’s normal practice.
Account # Ex 1234 5678 91 23456789123
Country Code ES
Structure ES2!n4!n4!n1!n10!n
Length 24!c
Electronic Format Ex. ES9812345678912345678912
Print Format Ex. ES98 1234 5678 9123 4567 8912
(Continued on next page)
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
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Sri Lanka
Suriname
Swaziland (Eswatini)
LKR – Sri Lankan Rupee
SRD – Surinamese Dollar
SZL – Swazi Lilangeni
Overview
Information provided by the Beneficiary: Remitter should obtain
all required bank information from the Beneficiary (e.g. SWIFT BIC,
account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.cbsl.gov.lk.
Payment Formatting Rules for LKR
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxLKxx or
xxxxLKxxxxx.
Reason for Payment (SWIFT MT103 F70): Must include the following
details:
• In depth , detailed purpose of payment is mandatory.
• Nature of sender’s business
• Sender’s profession / vocation
Additional Information
Payments for less than LKR 500 cannot be processed.
Correspondent banks may deduct LKR 100 from the principal
delivered to the beneficiary for any charge code used in the
payment message.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.cbvs.sr.
Payment Formatting Rules for SRD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxSRxx or
xxxxSRxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
All local beneficiary banks supported for FX payments.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.centralbank.org.sz.
Country Requirements/Restrictions
Additional Documentation: Residents are required to complete
an application to conduct business with an authorized dealer for
foreign exchange.
Payment Formatting Rules for SZL
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address (street address and
city, PO BOX not accepted) of the beneficiary customer. Use of
initials may delay receipt of funds by the beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxSZxx or
xxxxSZxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 66
2024 Global Wires Payments Formatting Requirements Guide
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Sweden
Sweden
Switzerland
SEK – Swedish Krona
Continued
CHF – Swiss Franc
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Country Requirements/Restrictions
Currency & Clearing Information: Sweden is a member of the
European Union (EU), and is adopting best payment practices
within the community, although the country has not adopted the
euro.
Account Restrictions: Residents and non-residents are permitted
to open and maintain domestic or foreign currency accounts either
locally or abroad.
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Sweden.
All SEK activities are restricted to or from specific countries. Refer
to the below link for the list of restricted countries;
https://www.handelsbanken.co.uk/tron/gbpu/info/contents/v1/do
cument/52-117373
Payment Formatting Rules for SEK
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Sweden must be
included in the payment instructions.
Account # Ex 1234 12 3456 1
Country Code SE
Structure SE2!n3!n16!n1!n
Length 24!c
Electronic Format Ex. SE9875432198712341234561
Print Format Ex. SE98 7543 2198 7123 4123 4561
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxSExx or
xxxxSExxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
The beneficiary bank may choose to process incoming SWIFT
messages before the value date in Field 32.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
http://www.snb.ch/en.
Country Requirements/Restrictions
Currency & Clearing Information: Switzerland is adopting best
payment practices within the European Union community,
although the country has not adopted the euro.
Account Restrictions: Residents and non-residents are permitted
to open and maintain domestic or foreign currency accounts either
locally or abroad.
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in Switzerland.
Payment Formatting Rules for CHF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials) and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
Use of IBAN numbers for beneficiaries with accounts in Switzerland
is highly recommended. IBAN is required for all euro payments.
Account # Ex 123 4567-8912.3456
Country Code CH
Structure CH2!n5!n12!c
Length 21!c
Electronic Format Ex. CH9876123456789123456
Print Format Ex. CH98 7612 3456 7891 2345 6
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name and address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxCHxx or
xxxxCHxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
Most transactions are electronic and processed the same day.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 67
2024 Global Wires Payments Formatting Requirements Guide
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Last Updated: February 16, 2024
Tahiti
Taiwan
Taiwan
XPF – Pacific Franc/ Tahitian Franc
TWD – New Taiwan Dollar
Continued
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Payment Formatting Rules for XPF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address, and telephone number
of the beneficiary customer. Use of initials may delay receipt of
funds by the beneficiary.
Account numbers must be formatted according to the below
specifications.
Length 27!c
Format FR76 + 23 digits
Beneficiary Bank (SWIFT MT103 F57): Include branch identifier
(where required), full name, and address of the beneficiary bank.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
XPF is a zero-decimal currency.
XPF payments to Office Postes Et Telecom De Polynes, New
Caledonia (CEFNNCN1) are no longer supported, due to the
beneficiary bank’s decision not to accept international payments.
Payments sent to Office Postes Et Telecom De Polynes, New
Caledonia will be returned.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.cbc.gov.tw.
Country Requirements/Restrictions
Payment Restrictions: Taiwan FX markets are regulated. TWD can
only be converted in-country.
Non-resident entities must be approved by qualified foreign
institutional investors (QFII) to access the onshore market without
the special regulatory approval. Non-resident entities are not
allowed to hold TWD.
USD (or other available foreign currencies) can be converted in-
country for local delivery, but FX documentation and bank
regulatory reporting is required.
For individual residents, restrictions exist for sales and purchase of
foreign currency against TWD. Maximum cumulative sales or
purchases per year is USD 5,000,000 equivalent in gross unless
specifically authorized other direct capital investments where there
is no limit.
For commercial and individual non-residents, limits are defined in
the rules regarding foreign institutional investors or other
legislation for foreign exchange against TWD movement in and out.
For foreign exchange against TWD movements for non-securities
investment purposes, TWD transactions are not allowed.
For commercial residents, there are no exchange limits for sales or
purchases of foreign currency against TWD relating to trade
products (import/export proceeds) or labor. For funds transfers
and direct capital investments, the maximum cumulative sale or
purchase of foreign currency per year for legal entity is USD
50,000,000 equivalent (except for specifically authorized direct
capital investments, where there is no limit).
In addition to transaction level thresholds, there is a TWD FX
maximum limit of USD 50 million (equivalent) per annum for
corporations. Items exempt from this limit are payments with
special approval from the government (e.g. capital injection etc).
For FX conversion against TWD equal or exceeding
USD20,000,000, banks in Taiwan need to provide prior notice to
Central Bank and seek for verbal guidance from Central Bank to
proceed for TWD FX payments. To comply with Central Bank’s
verbal guidance, onshore and offshore remitters should split TWD
FX payment when such payment is equal or exceeding
USD20,000,000.
(Continued on next page)
Additional Documentation: For TWD FX inward remittance,
offshore remitters are not required to provide reason for payment
or purpose code. However, the beneficiary must complete
remittance declaration forms and provide supporting
documentation (if applicable) to explain the reason for payment.
On average, for TWD FX inward remittance to JPM Taipei Branch
clients, the documentation process may take 2-3 days to complete.
For TWD FX inward remittance to non-JPM Taipei Branch clients,
incoming payments should always be a fixed TWD amount so that
the payment can align to any required supporting documentation.
The documentation process may take 10-15 days to complete
subject to processing time from beneficiary bank.
No FX against TWD transactions can be executed until FX reporting
information/documentation is in place. The beneficiary must fill out
the required documentation with their local bank by value date to
receive credit into the account. If documents are not filled out, the
exact payment amount and value date cannot be guaranteed.
For tax payments, supporting document (i.e. tax bill) from offshore
remitter is an acceptable alternative document.
FX conversion against TWD amounts exceeding USD 1,000,000
(equivalent) requires a transaction declaration form and additional
supporting documents. For inward remittance to non-JPM Taipei
Branch clients, in addition to transaction declaration form and
additional supporting documents, Inward Remittance Form is also
required from beneficiaries.
FX conversion against TWD amounts equal or exceeding TWD
500,000 and below USD 1,000,000 (equivalent) require a
transaction declaration form. For inward remittance to non-JPM
Taipei Branch clients, in addition to transaction declaration form,
Inward Remittance Form is also required from beneficiaries
FX conversion against TWD amounts below TWD 500,000 require
beneficiary to advise on nature of transaction. No declaration form
is required. For inward remittance to non-JPM Taipei Branch
clients, Inward Remittance Form is required.
Payment Formatting Rules for TWD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials) and full address of the ordering
customer, including country, city, road/street, building No. and
door number (where applicable). Insufficient ordering customer
information or use of initials can delay receipt of funds by the
beneficiary.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 68
2024 Global Wires Payments Formatting Requirements Guide
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Taiwan
Tanzania
Thailand
Continued
TZS– Tanzanian Shilling
THB - Thai Baht
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), and address (street address, city,
country). Insufficient ordering customer information or use of
initials may delay receipt of funds by the beneficiary.
No specific beneficiary account number requirements exist.
Beneficiary Bank (SWIFT MT103 F57): Include local clearing code,
SWIFT BIC with branch identifier, full name and address of the
beneficiary bank.
For local TWD clearing, there is a specific seven-digit local clearing
code required for routing payments to the beneficiary bank and
should always be provided. (NNNBBBB, NNN = bank code, BBBB =
branch code)
For example, seven-digit local clearing code of JPMorgan Taipei
Branch is 0760018. This can be provided in the below format in
F57A
/0760018
CHASTWTX
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxTWxx or
xxxxTWxxxxx.
There are no specific bank clearing codes for cross-border non-
TWD payments into Taiwan. SWIFT BIC is key to routing payments
to the beneficiary bank and should always be provided.
Reason for Payment (SWIFT MT103 F70): Required for TWD FX or
foreign-currency payments from Taiwan accounts. Payments from
offshore remitters do not require reason for payment or purpose
code as this will be collected from Beneficiary Bank who contacts
the Beneficiary to provide . Provide a reason for the payment (rent,
salary, medical expenses, office expenses, etc.).
This field is required for FX conversion against TWD amounts below
TWD 500,000.
For foreign inward remittances without FX against TWD, the
beneficiary must advise on the nature of the transaction via
telephone or mail.
For TWD FX inward remittance, incoming payments should always
be a fixed TWD amount so that the payment can align to any
required supporting documentation.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bot-tz.org
Country Requirements/Restrictions
Additional Documentation: Additional supporting documentation
may be required from the beneficiary.
Payment Formatting Rules for TZS
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
12 digit control number is required for specific instructions (12 Digit
Control Number is required when transfers are in favor of a
government institution, agency, authority, hospital, school and
university whose account is with a commercial bank (Mandatory
Field 70 – Preceded by /ROC/). This does not apply to government
payments to the central bank (Bank of Tanzania – TANZTZTX) and
to the Tanzania Revenue Authority (TRA – TARATZTZ). Free
formatting of the control code is also permitted and can be
expressed as F70:/CONTROL CODE 991234567894. The owner of
the account is responsible for obtaining the control number from
their bank.)
Tax Identification Number (TIN) is required when making tax
revenue payments to the Tanzanian Revenue Authority.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxTZxx or
xxxxTZxxxxx.
A 11-character beneficiary bank SWIFT BIC code can only be
processed if it is ending in XXX in Field 57. A 8-character
beneficiary bank SWIFT BIC code format is recommended. If 11
character BIC is not formatted correctly as per guidance prior to
submission to JPM, the last three digits of the BIC may be
appended with XXX to process the payment successfully.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bot.or.th/english.
Country Requirements/Restrictions
Payment Restrictions: The Bank of Thailand has been entrusted
by the Ministry of Finance with the responsibility of administering
foreign exchange.
All foreign exchange transactions are to be conducted through
commercial banks and through authorized non-banks (authorized
money changers, money transfer agents, and companies), that are
granted foreign exchange licenses by the Minister of Finance. Any
transactions not conducted through the above-mentioned
licensees require approval from the Competent Officer on a case
by case basis.
Foreign currencies can be transferred or brought into Thailand
without limit.
Any person receiving foreign currencies from abroad is required to
repatriate such funds immediately and sell to an authorized bank
or deposit them in a foreign currency account with an authorized
bank within 360 days of receipt, except for foreigners temporarily
staying in Thailand for not more than three months, foreign
embassies, international organizations, and Thai emigrants who
are permanent residents abroad or working abroad.
Purchase of foreign currency from authorized banks is generally
allowed upon submission of documents indicating international
trade and investment.
Companies in Thailand can engage in derivatives transactions with
authorized banks to hedge against foreign exchange risk provided
that supporting documents indicating future foreign currency
receipts or obligations are submitted.
Any person bringing into or taking out of Thailand foreign currency
bank notes in an aggregate amount exceeding USD 20,000 or its
equivalent must declare to a customs officer.
Deposit of foreign currency notes and coins must not exceed USD
10,000 per person per day.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
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2024 Global Wires Payments Formatting Requirements Guide
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Thailand
Continued
Debits to accounts are permitted for payment of external
obligations upon submission of supporting evidence.
Thai residents are permitted to remit up to USD 100 million per
year for the purposes of loan or investment to a parent or
subsidiary company.
Account Restrictions: Residents, corporations, and individuals are
permitted to hold foreign currency bank accounts with no
limitation.
Foreign currency accounts of Thai residents are opened with
authorized Thai banks and deposited with funds originated from
abroad. These accounts no longer have requirements for
supporting documentation.
For non-resident THB accounts, the non-residents may open the
account with any authorized Thai bank. Credits may originate from:
1) proceeds from sale of foreign currencies that originate from
abroad or foreign currencies from non-resident foreign currency
accounts; 2) amounts transferred from other non-resident baht
accounts; and 3) obligations of resident to non-resident and non-
resident to non-resident.
Additional Documentation: Supporting documentation may be
requested.
Any person purchasing, selling, depositing or withdrawing foreign
currency with an authorized bank in an amount of USD 200,000 or
above is required to report such transactions to an authorized
bank in the form prescribed by the Bank of Thailand except
resident clients passing KYB – Know Your Business – process
conducted by FX Bank.
On presentation of supporting documents, all foreign exchange
transactions must be processed by a commercial bank.
Payment Formatting Rules for THB
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials) and full address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), full address and tax ID (if
applicable) of the beneficiary customer. Use of initials may delay
receipt of funds by the beneficiary.
There are no specific beneficiary account number requirements in
this country.
Thailand
Continued
When sending THB from non-resident to resident account through
the local payment system, BAHTNET, the sending bank is required
to indicate the sender’s 13 digits tax ID for all payments, regardless
of the amount. Example: /ORDERRES/TH/TXID9999999999999.
The beneficiary’s tax ID and telephone number may also
be provided in SWIFT MT103 F70.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name and address of the beneficiary bank.
There are no specific bank clearing codes in this country
for cross-border payments; SWIFT BIC is key to routing payments
to the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxTHxx or
xxxxTHxxxxx
Reason for Payment (SWIFT MT103 F70): Include
Purpose of payment code and description when sending
a THB payment instruction. Contact your J.P. Morgan Service
Representative for list of purpose codes.
Purpose of Payment code and/or reason for payment freeform
text is strongly recommended to prevent delays or rejection.
ACH / GIRO:
Transaction limit is THB 2 million per transaction.
7 digits bank code is required with first 3 digits as bank code and
the rest 4 digits as bank’s branch code.
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Togo
XOF – West African CFA Franc
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Additional Documentation: Additional supporting documentation
may be required from the beneficiary.
Payment Formatting Rules for XOF
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials), address, and telephone number of
the beneficiary customer. Use of initials may delay receipt of funds
by the beneficiary.
It is mandatory to format account numbers for beneficiaries with
accounts in Togo according to the below specifications.
Account numbers should be 24 characters consisting of the 5
-
character bank code (including the 2 character country code) + 5-
character branch code + 12-digit account number + 2-digit Clé RIB
Country Code TG
Length 24!c
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxTGxx or
xxxxTGxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
This country is a member of the Central Bank of West African
States.
XOF is a zero-decimal currency.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 70
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Tonga
Trinidad and Tobago
Tunisia
TOP – Tongan Pa’anga
TTD – Trinidad and Tobago Dollar
TND – Tunisian Dinar
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.reservebank.to.
Country Requirements/Restrictions
Account Restrictions: Residents may not send or receive money
out of Tonga without the consent of the Reserve Bank (Minister of
Finance).
Payment Formatting Rules for TOP
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxTOxx or
xxxxTOxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.central-bank.org.tt.
Payment Formatting Rules for TTD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and full address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
There are no specific beneficiary account number requirements in
this country.
Beneficiary Bank (SWIFT MT103 F57): Must include SWIFT BIC
with branch identifier, full name, and address of the beneficiary
bank.
There are no specific bank clearing codes in this country for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxTTxx or
xxxxTTxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
12-digit account number required for payments going to accounts
held at Scotiabank Trinidad and Tobago Ltd. (NOSCTTPSXXX).
Format of account number: 5-digit transit code + 7-digit account
number (Field 59).
Additional Information
Smaller banks may not have electronic capabilities, so
intermediary banks will settle by issuing a draft that is couriered to
the beneficiary.
Payments where the underlying remitter is an MSB or PSP are not
supported.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Country Requirements/Restrictions
Account Restrictions: Non-residents and residents can hold in-
country accounts in foreign currency or convertible dinars.
Payment Formatting Rules for TND
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials) and address of the ordering
customer. Use of initials can delay receipt of funds.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Tunisia must be
included in the payment instructions. The IBAN must start with
TN59 followed by 20 digits.
Account # Ex 12 345 6789123456789 12
Country Code TN
Structure TN592!n3!n13!n2!n
Length 24!c
Electronic Format Ex. TN5912345678912345678912
Print Format Ex. TN59 1234 5678 9123 4567 8912
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name and address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxTNxx or
xxxxTNxxxxx.
Reason for Payment (SWIFT MT103 F70): Reason for payment is
recommended (rent, salary, medical expenses, etc.).
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
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Turkey
Uganda
Ukraine
TRY – Turkish Lira
UGX – Ugandan Shilling
UAH – Ukrainian hryvnia
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.tcmb.gov.tr.
Country Requirements/Restrictions
Payment Restrictions: Banks usually do not accept payments for
beneficiaries who have no accounts with them. They prefer not to
intermediate payments.
Account Restrictions: Residents and non-residents can open FX
accounts with a letter of credit and work permit, with a minimum
of 2,000 CHF or 1,000 in USD, GBP, or EUR.
Payment Formatting Rules for TRY
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Turkey must be
included in the payment instructions.
Account # Ex 1234567891234567890123
Country Code TR
Structure TR2!n5!n1!c16!c
Length 26!c
Electronic Format Ex. TR987123456789123456789123
Print Format Ex. TR98 7123 4567 8912 3456 7891 23
Beneficiary Bank (SWIFT MT103 F57): Include branch identifier
(where required), full name, and address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxTRxx or
xxxxTRxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
mandatory.
Additional Information
Banks are closed on Saturday and Sunday.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bou.or.ug.
Payment Formatting Rules for UGX
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) , address and tax ID of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
A PRN tax ID number (13 digits) is required for tax revenue
payments directed towards the Ugandan Revenue Authority.
Sample format: PRNXXXXXXXXXX. This information may also be
included in SWIFT MT103 F70.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes for this country for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxUGxx or
xxxxUGxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
UGX is a zero-decimal currency.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Due to Onshore restrictions:
Payments related to Humanitarian aid cannot be facilitated except
for the UN who can fund UN beneficiaries for operational purposes
with the transaction code 8424.
Payments for purpose of payroll cannot be facilitated.
Payments for commercial purpose are supported. This constitutes
settlements between residents and non-residents or export and
import of goods (products, services, works, intellectual property
rights and other non-property rights intended for sale/delivery
against payment). Payment details should contain the number and
date of agreement/ contract/ invoice as well as the transaction
code and a detailed purpose of payment
Payment Formatting Rules for UAH
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in Ukraine must be
included in the payment instructions.
Account # Ex 0000026007233566001
Country Code UA
Structure UA2!n6!n19!n
Length 29!c
Electronic Format Ex. UA213223130000026007233566001
Print Format Ex. UA21 3223 1300 0002 6007 2335 6600 1
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required) or full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxUAxx or
xxxxUAxxxxx.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
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Ukraine
United Arab Emirates
United Arab
Emirates
Continued
AED – United Arab Emirates Dirham
Continued
Reason for Payment (SWIFT MT103 F70): In-depth, detailed
Purpose of payment must be provided (rent, salary, medical
expenses, office expenses, etc.).
Requested MT 103 - Option 1
Reason for Payment (SWIFT MT103 F70):
4-character Operation Code (list of applicable codes are available
upon request) preceding prefixed fields; 804 (Country Code as
payments are routed to the Ukraine); 999 (Code applicable to all
non-residential ordering customers) (Mandatory).
8-digit tax ID for corporates and 10-digit tax ID for individuals is
required (Mandatory).
Example:
:70: Reimbursement of medical expenses
/REC/XXXX.804.999
TAX ID XXXXXXXX(XX)
Requested MT 103 - Option 2
Sender to receiver (SWIFT MT103 F72):
4-character Operation Code (list of applicable codes are available
upon request) preceding prefixed fields; 804 (Country Code as
payments are routed to the Ukraine); 999 (Code applicable to all non-
residential ordering customers) (Mandatory).
3-digit Country Code is required. (MandatoryField72
8-digit tax ID for corporates and 10-digit tax ID for individuals is
required (MandatoryField72).
In summary, Field72 should be formatted as:
/REC/XXXX.804.999.XXX.XXXXXXXXXX (where XXXX stands for the
unique transaction code, 804 is Country Code for Ukraine as the
destination of funds; 999 is Code applicable to all non-residential
ordering customers, XXX stands for country code of the remitter from
field 50K, 8-10X stands for the tax code).
Example:
:72: /REC/XXXX.804.999.XXX.XXXXXXXX
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.centralbank.ae/en.
Country Requirements/Restrictions
Payment Restrictions: Banks have regulatory requirements for
wire payments. There are no exchange controls.
Account Restrictions: Non-residents can hold local currency
accounts. The account opening process requires formal
identification by the account holder.
Payment Formatting Rules for AED
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials) and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name (no initials) and address of the
beneficiary customer. Use of initials may delay receipt of funds by
the beneficiary.
IBAN numbers for beneficiaries with accounts in U.A.E. are
required in the payment instructions.
Account # Ex 1234567891234567
Country Code AE
Structure AE2!n3!n16!n
Length 23!c
Electronic Format Ex. AE987651234567891234567
Print Format Ex. AE98 7651 2345 6789 1234 567
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name and address of the beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxAExx or
xxxxAExxxxx.
(Continued on next page)
Reason for Payment (SWIFT MT103 F72): 3-character Purpose of
payment code is mandatory along with information about the
ordering customer. Contact your J.P. Morgan Service
Representative for a list of purpose of payment code.
Reason for payment must be included to avoid payment delays or
return.
If the ordering customer is a commercial, business, or corporate
entity, additional information required includes trade license
number/ registration number/ unique identification number of the
ordering customer.
The 3 character purpose code must be provided in the below
format on the payment instructions to avoid delays.
/BENEFRES/AE//???/XXXXXXXXXXXXXXXXX where ??? represents
the 3-character POP code and XXX is additional narrative
This information may also be provided in SWIFT MT103 F70.
Additional Information
The Emirati dirham exchange is pegged to the U.S. dollar.
United Arab Emirates dirham (AED) clearing, payments and
settlement services areavailable from Monday to Friday.
P2P payments are not permitted.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
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Last Updated: February 16, 2024
United Kingdom
United Kingdom
United States
GBP – British Pound Sterling
Continued
USD – United States Dollar
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, IBAN, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.bankofengland.co.uk.
Country Requirements/Restrictions
Account Restrictions: Residents and non-residents are permitted
to open and maintain domestic or foreign currency accounts either
locally or abroad.
SEPA: Strict formatting standards and SEPA guidelines exist in
Europe regarding cross-border payments. IBAN and SWIFT BIC are
required for all euro payments. SEPA standards apply for euro
payments to beneficiaries with accounts in the United Kingdom.
SEPA standards do not apply for British pound sterling payments.
Payment Formatting Rules for GBP
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials) and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number (IBAN), full name and address of the beneficiary customer.
Use of initials can delay receipt of funds by the beneficiary.
IBAN usage for beneficiaries in the United Kingdom is
recommended. IBAN numbers for beneficiaries with U.K. accounts
are issued by the account opening bank.
Account # Ex 12-34-56 78912345
Country Code GB
Structure GB2!n4!a6!n8!n
Length 22!c
Electronic Format Ex. GB29ABCD12345678912345
Print Format Ex. GB29 ABCD 1234 5678 9123 45
Beneficiary Bank (SWIFT MT103 F57): Include sort code (For
London accounts only), SWIFT BIC, full name and address of the
beneficiary bank.
Beneficiary bank branches are identified through a unique 6-digit
sort code; this is required to ensure payment delivery. The sort
code should always be preceded with “//SC” followed by the 6-digit
bank code. Example: //SC123456.
SWIFT BIC, including branch identifier, where required, must be
included in the payment instructions. If SWIFT BIC is not available,
include the beneficiary bank full name and address in the payment
instructions.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxGBxx or
xxxxGBxxxxx.
Additional Information
Most transactions are processed same day.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Country Requirements/Restrictions
Currency & Clearing Information: The Federal Reserve Bank and
the Clearing House Interbank Payment System (CHIPS) facilitates
domestic clearing.
The U.S. has high- and low-value payment systems.
The Federal Reserve bank assigns each member a unique nine-
digit ABA number to operate in the national clearing system.
The Clearing House assigns each member a unique participant
code.
Account Restrictions: Know your customer (KYC) requirements by
financial institutions have become more stringent for opening
accounts. Non-residents can hold in-country accounts.
Payment Formatting Rules for USD
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials) and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name, and address of the beneficiary customer. Use of
initials can delay receipt of funds by the beneficiary.
As best practice, beneficiary full name and account number must
be included.
Beneficiary Bank (SWIFT MT103 F57): Include ABA routing
number or CHIPS participant code (if available), SWIFT BIC, full
name and address of the beneficiary bank.
If available, provide the ABA routing number or CHIPS participant
code for the beneficiary bank.
Include the SWIFT BIC to direct payments to the United States. The
receiving bank will then enter the payment into the domestic
Federal Reserve (FED) clearing system. SWIFT BIC is 8 or 11
alphanumeric characters: xxxxUSxx or xxxxUSxxxxx.
As best practice include beneficiary bank name and address.
Additional Information
The Fed or CHIPS reference number is used to confirm the receipt
of funds.
Most domestic urgent transactions are electronic and processed
the same day.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 74
2024 Global Wires Payments Formatting Requirements Guide
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Last Updated: February 16, 2024
Vanuatu
Vietnam
Vietnam
VUV – Vanuatu Vatu
VND
– Vietnamese Dong
Continued
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to
www.rbv.gov.vu.
Payment Formatting Rules for VUV
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and address of the beneficiary
customer. Use of initials may delay receipt of funds by the
beneficiary.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxVUxx or
xxxxVUxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
VUV is a zero-decimal currency.
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC or local bank code, account number, and beneficiary
bank address).
Central Bank: For additional information, please refer to
www.sbv.gov.vn.
Country Requirements/Restrictions
Payment Restrictions: FX Control Regulations, issued by the State
Bank of Vietnam, are amended from time to time according to
monetary control policies of the State.
VND is unable to be traded offshore due to its un-convertibility.
Purchase of VND is not restricted, as such overseas remittance in
foreign currencies can be converted easily for local payments.
Purchase of foreign currency, for both domestic and overseas
payments from Vietnam, is permitted subject to allowable
purposes and required supporting documentations are submitted.
Domestic payment in foreign currency is restricted: Refer to
Circular 32/2013 and Circular 16/2015 for eligible payments.
VND against USD rate is calculated based on USD/VND central
exchange rate and trading band. The central exchange rate of VND
against USD shall be fixed by reference to the weighted average
exchange rate in the inter-bank foreign currency market, the
exchange rate movements in the international market of
currencies of some countries that have trading, borrowing, debt
payment, significant investment relationships with Vietnam,
macro-economic and monetary balances and goals of monetary
policies.
USD is accepted for local payments, subject to certain
requirements and supporting documents. USD payments into
Vietnam for onward credit in VND will be converted by the
remitting bank.
Payments cannot be made to Foreign Indirect Investment Accounts
(FIIAs).
Additional Documentation: The beneficiary may be required to
provide supporting documentation by the correspondent or
beneficiary bank.
VND in-country settlement requires no specific documentation.
(Continued on next page)
Foreign Currency Payment into Vietnam Current & Capital
Accounts
Foreign currency receipts of any amount are subject to explanation
on nature/purpose of payment.
Current accounts are used for underlying goods and services
activities
Wholly and partially foreign enterprises are required to open a
Capital account. Capital accounts are reserved for capital and loan
related transactions. Refer to Circular 06/2019 - FX control for
foreign direct
investment in Vietnam Including Capital account, Circular 12/2014,
03/2016 and 05/2016 for foreign loan.
Payment Formatting Rules for VND
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials) and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name, and address of the beneficiary customer. Use of
initials can delay receipt of funds by the beneficiary.
Account formats follow the Standard Chart of Accounts regulated
by the Central Bank. The simplest format should have the first four-
digits in SCA format followed by the currency code and the number
assigned by the bank.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier, full name and address of the beneficiary bank.
Exact branch location must be included (e.g. Hanoi and Ho Chi
Minh).
If payment is being sent locally in VND, a local clearing bank code
should be used instead of a SWIFT BIC. Local clearing bank codes
must be 8 alphanumeric characters, with the 1st and 2nd
representing the bank location.
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxVNxx or
xxxxVNxxxxx.
The beneficiary bank branch location and province must be
included in the payment instructions.
Reason for Payment (SWIFT MT103 F70): Purpose of payment
must be clearly stated for each transaction in free format to
prevent delays and/or rejection (goods, services, capital, loan,
etc.).
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
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Last Updated: February 16, 2024
Vietnam
Zambia
Continued
ZMW- Zambian Kwacha
Tax codes are required when making payments to the local
Vietnamese tax authorities (or equivalent). These tax codes relate
to both the sender (Remitter) and the receiver (Beneficiary). The
communication of a tax payment will usually occur between the tax
authority and the remitter, and a unique tax code tax identifier
number will be generated online for the remitter to use when
initiating their payment. This code is needed by the local tax
authorities in order to recognize that the payment relates to a
specific beneficiary.
VND is a zero decimal currency; payments must be entered as
whole.
Additional Information
Amounts with no decimals to avoid rejection.
Depending on the beneficiary bank, value date for local clearing
payments is within one business day.
Payments cannot be made to Foreign Indirect Investment Accounts
Overview
Information provided by the Beneficiary: Remitter should
obtain all required bank information from the Beneficiary (e.g.
SWIFT BIC, account number, and beneficiary bank address).
Central Bank: For additional information, please refer to:
www.boz.zm.
Country Requirements/Restrictions
Account Restrictions: Non-residents can hold local currency
accounts.
Payment Formatting Rules for ZMW
Ordering Customer (SWIFT MT103 F50): Include account
number, full name (no initials), and address of the ordering
customer. Use of initials can delay receipt of funds by the
beneficiary.
Beneficiary Customer (SWIFT MT103 F59): Include account
number, full name (no initials) and full address (recommended).
Use of initials may delay receipt of funds by the beneficiary.
There are no specific beneficiary account number requirements in
this country.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with
branch identifier (where required), full name, and address of the
beneficiary bank.
There are no specific bank clearing codes for this country for cross-
border payments. SWIFT BIC is key to routing payments to the
beneficiary bank.
For payments to Barclays Bank Zambia, a 6-digit branch code must
be provided. Sample format: XX YY ZZ (XX represents bank code;
YY represents area code; ZZ represents bank branch code).
SWIFT BIC is 8 or 11 alphanumeric characters: xxxxZMxx or
xxxxZMxxxxx.
Reason for Payment (SWIFT MT103 F70): Purpose of payment is
recommended.
Additional Information
Most banks are also open the first and last Saturdays of the month
for domestic services.
Value dates are generally within 48 hours of the spot deal date.
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
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JPM Access Host-to-Host formats
Use this table in conjunction with your JPM Host-to-Host format-specific Client Guide to assist in providing the enclosed SWIFT-based country/currency requirements.
SWIFT
ISO 20022 (PACS)
ISO 20022
JSON
<Debtor Account>
Field 50
(Ordering Customer)
<Debtor><Name>
<Debtor><Postal Address
Data held on JP Morgan's customer
database is sent on your behalf.
>
debtor section, debtor account section,
debtor agent section
Field 57
(Account With Institution)
<Creditor Agent> <Creditor Agent>
Creditor transfer transaction
information creditor agent section
<Creditor Account>
<Creditor Account>
Creditor Transfer Transaction
Field 59
(Beneficiary Customer)
<Creditor><Name>
<Creditor><Name>
lnformation. Creditor Account section,
Creditor Transfer Transaction
Information. Creditor Section
<Creditor><Postal
Address>
<Creditor><Postal address>
Creditor Transfer Transaction
Field 70 <Remittance Information> <Remittance Information> lnformation . Creditor Account section,
(Remittance Information) <Unstructured> <Unstructured> Creditor Transfer Transaction
lnformation . Creditor Section
Field 72
(Sender to Receiver
<Instruction For Debtor
Creditor Transfer Transaction
Information) Note:
Agent>
<Instruction For Debtor Agent> lnformation . Instruction for Debtor
Beneficiary Agent
Name 2nd 35
GFF
Data held on JP Morgan's
customer database is sent on
your behalf.
PM117-151
PM 152-186
PM082-116 +A1003-037
A1 038-142
P2 003-142
SR003-072
ANSI X12
Data held on JP Morgan's
customer database is sent on
your behalf.
BPR13
BPR15
N102, N201 [2nd occurrence]
(with N 101 ="C2, C1, PE, RB"
in that order, if exist)
N201[1st occurrence], N202,
N301, N302 (with N101="C2,
C1, PE, RB" in that order, if
exist)
NTE02 (with NTE01="ZZZ")
NTE02 (with NTE01="BBD")
EDIFACT
Data held on JP Morgan's
customer database is sent on
your behalf.
Segment group 12:
Fll+C088:3433
(Wth Fll+3035=”BF”)
Segment group 12:
Fll+C078:3194
(Wth Fll+3035="BF")
Segment group 13:
NAD+C080:3036 (2 occurrences)
(Wth NAD+3035="BE")
Segment group 13:
NAD+C058:3124 (5 occurrences)
NAD+C059:3042 (3 occurrences)
NAD+3164
NAD+3229
NAD+3251
NAD+3207
(Wth NAD+3035="BE")
Segment group 14:
FTX+C108:4440 (2 occurrences)
(Wth FTX+4451 =''PMD")
Segment group 15:
FTX+C108:4440 (2 occurrences)
(With FTX+4451 ="ACB")
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 77
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Last Updated: February 16, 2024
Version Control:
Country
Currency
Date
Revisions
Bahamas
BSD Mar-22 Updated the Payment Formatting section to include Transit Number in Field 70 as a requirement for BSD where the beneficiary bank is RBC Bahamas. Also,
updated the Additional Information section that Payments where the underlying remitter is an MSB or PSP are not supported.
United Arab Emirates
AED Mar-22 Updated the Additional Information section to include AED clearing payments and settlement services is available from Monday to Friday. Also, updated the
Reason for Payment section to include “Purpose of Payment Codes” link.
Burundi
BIF
Mar-22
Updated the Payment Formatting Rules for BIF to include 11- digit format for Beneficiary account number in field 59.
Spain
EUR
Mar-22
Updated the Country Requirements/Restrictions section to reflect transaction threshold amount between residents and non-residents to EUR 50,000.
South Africa
ZAR
Mar-22
Updated the Payment Formatting Rules for ZAR to include unique 19 character Payment Reference Number (PRN) for TAX payments.
Taiwan
TWD
Mar-22
Updated that the beneficiary telephone number is not mandatory for FX conversion above USD 1,000,000.
Jordan
JOD
Mar-22
Updated the Reason for Payment section to include “Purpose of Payment Codes” link.
Bahrain
BHD
Mar-22
Updated the Reason for Payment section to include “Purpose of Payment Codes” link.
Sweden
SEK
Mar-22
Updated the Country Requirements/Restrictions section with the link of the list of restricted countries for SEK activities.
Antigua and Barbuda
XCD
Mar-22
Updated the Payment Formatting Rules for XCD to reflect that BIC NOSCAGAGXXX is no longer available for payments. Also, updated the Additional Information
section that Payments where the underlying remitter is an MSB or PSP are not supported.
Netherlands Antilles -
Curacao
ANG Mar-22 Updated the Additional Information section that Payments where the underlying remitter is an MSB or PSP are not supported.
Trinidad and Tobago
TTD
Mar-22
Updated the Additional Information section that Payments where the underlying remitter is an MSB or PSP are not supported.
Barbados
BBD
Mar-22
Updated the Additional Information section that Payments where the underlying remitter is an MSB or PSP are not supported.
Jamaica
JMD
Mar-22
Updated the Additional Information section that Payments where the underlying remitter is an MSB or PSP are not supported.
Anguilla
XCD
Mar-22
Updated the Additional Information section that Payments where the underlying remitter is an MSB or PSP are not supported.
Cayman Island
KYD
Mar-22
Updated the Additional Information section that Payments where the underlying remitter is an MSB or PSP are not supported.
Guatemala
GTQ
May-22
Removed the requirement of TAX ID from the reason of payment field
Brazil
BRL
May-22
Removed the requirement of agency code as this is included in the IBAN of the beneficiary
Mozambique
MZN
May-22
Updated the Reason of payment field to include the 9 digits NUIT
Nigeria
NGN
May-22
Updated the Country Requirements/Restrictions section to reflect that payments related to investment require a Certificate of Capital Importation (CCI) and
should to be sent in USD only.
Thailand
THB
May-22
Updated all the details to include recent requirements
Taiwan
TWD
May-22
Updated all the details to include recent requirements
Malaysia
MYR
May-22
Updated all the details to include recent requirements
Taiwan
TWD
Jun-22
Updated all the details to include recent requirements
Mexico
MXN
Jun-22
Updated to include Beneficiary Bank’s Nostro Account Number in Field 57.
Belarus
BYN
Jun-22
Updated Purpose of payment as mandatory requirement
Armenia
AMD
Jun-22
Updated Purpose of payment as mandatory requirement
Mauritius
MUR
Jun-22
Updated Purpose of payment as mandatory requirement
Guyana
GYD
Jun-22
Updated the format required for funds paid to the Guyana Revenue Authority in Field 70.
Mozambique
MZN
Jun-22
Updated the format to include Full beneficiary street address in field 59
Malaysia
MYR
Jul-22
Updated the supporting document threshold revised to MYR 1,000,000 effective 15
th
July 2022
Sierra Leone
SLL
Jul-22
Updated the change of the currency code from SLL to SLE effective 30
th
September 2022
Chile
CLP
Jul-22
Updated all the details to include recent requirements
Vietnam
VND
Jul-22
Updated all the details to include recent requirements
Japan
JPY
Sep-22
Updated all the details to include recent requirements
Taiwan
TWD
Sep-22
Updated all the details to include recent requirements
India
INR
Sep-22
Updated the Additional information section to include the requirement of LEI (Legal Entity Identifier).
Sri Lanka
LKR
Sep-22
Updated Reason for payment field 70 to reflect in depth, detailed purpose of payment as mandatory.
Poland
PLN
Sep-22
Removed the payment restrictions line from the Country requirements & restrictions sections
Sierra Leone
SLL
Sep-22
Updated the additional Information section to reflect the transition period new currency code SLE is extended.
Oman
OMR
Sep-22
Updated Reason for payment field 70 to reflect purpose of payment as mandatory.
Lebanon
LBP
Sep-22
Removed from the guide.
Brazil
BRL
Sep-22
Updated additional information section to include the names of banks to whom payment is not supported
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
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2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
Cambodia
KHR
Sep-22
Updated additional information section to include that tax payments in favour of the general department of taxation can be supported.
Algeria
DZD
Sep-22
Updated the payment restrictions section under Country Requirements/Restrictions to reflect that any payment flows to individual beneficiaries (B2P and P2P)
must be pre-approved onshore.
Vietnam
VND
Sep-22
Updated field 70 to include requirement of Tax code and updated additional information section to include Payments cannot be made to Foreign Indirect
Investment Accounts
Japan
JPY
Mar-23
Updated the payment formatting Rules section to include Beneficiary Customer details and format for Payment Purpose Code
India
INR Sep-23 Updated guidance on Employee Share Options Program (ESOP) and Employee Share Purchase Program (ESPP) cross-border remittances done from accounts with
JPMCB India
Turkey
TRY
Apr-23
Purpose of payment made mandatory
Taiwan
TWD
Apr-23
Field 57 and 59 requirement updated
Brazil
BRL
Apr-23
Updated transaction size limit requirements (with and without Cadastro set up)
Guyana
GYD
Apr-23
Updated guidance on transit codes.
Haiti
HTG
Apr-23
Updated F70 purpose of payment requirements
Namibia
NAD
Apr-23
Update F70 purpose of payment requirements for tax payments
Kenya
KES
Apr-23
Updated requirements to add 5 digits beneficiary bank branch code must be included in Field 70
Sierra Leone
SLE/SLL
Apr-23
Updated SLE adoption date
Indonesia
IDR
Apr-23
Updated Country Requirements/Restrictions & Payment Formatting Rules for IDR
Australia
AUD
Apr-23
Updated P.O. Box rules and made them not permitted for AUD
Bangladesh
BDT
May-23
Declaration of beneficiary on Form C is not required for inward remittances up to USD 20,000 equivalent
Kenya
KES
May-23
Reason for payment mandatory (free form)
Philippines
PHP
Jul-23
Updated requirement to specify the 10-digit purpose code for all incoming and outgoing foreign currency transactions
South Korea
KRW
Jul-23
Threshold for supporting documents updated to USD 100,000
Macau
MOP
Jul-23
Updated purpose of payment description to mandatory
India
INR
Sep-23
Updated guidance on Employee Share Options Program (ESOP) and Employee Share Purchase Program (ESPP) cross-border remittances done from accounts with
JPMCB India
Taiwan
TWD
Jul-23
Removed special requirement for ChungHwa bank
Tahiti
XPF
Sep-23
Updated comment for beneficiary bank OFFICE POSTES ET TELECOM DE POLYNES, New Caledonia (CEFNNCN1), no longer accepting international payments
Pakistan
PKR
Sep-23
Updated comment about no longer being able to support donation and charity payments to individual beneficiary accounts
Sri Lanka
LKR
Sep-23
Nature of sender's business and profession/vocation are required details for MT103 F70
Colombia
COP
Nov-23
Updated beneficiary account type requirement to perform COP payments to Colombia
Korea
KRW
Nov-23
Updated Purpose of Payment code accepted
Indonesia
IDR
Jan-24
Updated the link to the list of Indonesia’s purpose codes
Australia
AUD
Jan-24
Clarified the XLSX version of the JPM Global Wires Formatting Guide as source of detailed instructions which field the BSB code needs to be entered
Sierra Leone
SLE
Jan-24
Changed currency code from SLL to SLE and limited availability to US-based accounts
Mauritania
MRU
Jan-24
Added requirements for MRU
Philippines
PHP
Jan-24
Date of incorporation (DOI) is not mandatory for payments out of New York branch debit accounts
Nepal
NPR
Jan-24
Updated restriction that payments to NGO’s require supporting documentation from beneficiaries that they are approved by the Social Welfare Council (SWC)
Angola
AOA
Jan-24
Updated requirement to provide the purpose of payment code along with a beneficiary taxpayer number
Hungary
HUF
Feb-24
Updated requirement zero decimal payment amount
China
CNY
Feb-24
Removed references to CNAPS requirements
Argentina
ARS
Feb-24
Removed requirement for email address in F72; Clarified that tax IDs are to be provided in mandatory Field 70
The following character representations and length indications are used: N Digits numeric characters c Upper and lowercase alphanumeric a Uppercase letter alphabetic e Blank space
characters (A-Z, a-z, and 0-9) characters (A-Z only) n Maximum length nn! Fixed length
| 79
2024 Global Wires Payments Formatting Requirements Guide
For the most up-to-date version, please visit jpmorgan.com/visit/guide
Last Updated: February 16, 2024
This material was prepared exclusively for the benefit and internal use of the JPMorgan client to whom it is directly addressed (including such client’s subsidiaries, the “Company”) in order to assist the
Company in evaluating a possible transaction(s) and does not carry any right of disclosure to any other party. This material is for discussion purposes only and is incomplete without reference to the other
briefings provided by JPMorgan. Neither this material nor any of its contents may be disclosed or used for any other purpose without the prior written consent of JPMorgan.
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