SWIFT Fundamentals
It is a type of payment series where the message is sent to the closest to the Beneficiary through one or several reimbursement institutions.
Serial Method
This is an institution that provides financial services for its clients or members.
Financial Institutions
Investigates and resolves nostro-related breaks/fails from FM products. (FXMM, Derivatives, and Securities)
FM Investigations
Translate the terminology from MT to MX: What is Bank in MX
Agent
GEBABEBB
BNP PARIBAS FORTIS
It is a type of payment series where the message is sent to the next party in the transfer
Serial Method
Transfer of money, equivalent, or other valuable items from one person to another in exchange for goods or services.
Payment
Responsible in handling incoming and outgoing payments which cannot process as straight through.
Repairs Team
Agreed methodology used by the financial industry to create consistent message standards across all the business processes of the industry.
ISO 20022
IRVTUS3N
THE BANK OF NEW YORK MELLON
What does IBAN stands for?
International Bank Account Number
A type of payment where a FI sends a payment instruction for credit to a retail or corporate client on ING’s books.
Incoming Payment
Trade government bonds and credits for the books of our banking clients as well as the funds of the asset managers.
Financial Markets
Translate the terminology from MT to MX: What is Ordering Customer & Beneficiary Customer in MX
Debtor & Creditor
MBTCPHMM
METROPOLITAN BANK (METROBANK) PHILIPPINES
What is the difference between MT190/290 and MT191/291?
MT190/290 is advice of charges, MT191/291 is request for charges
This is an uncommitted and unconfirmed limit that is provided to an FI for easing the through flow of their payments during the business day. The FI is not told what the amount is and there are no guarantees associated with this amount, hence the description as “uncommitted and unconfirmed”.
Intra Day Credit Limit
Managing the ING reciprocity envelope for HVA transactions.
FIEFA/LMI
Describes the new format of payment messages that are being used within the SWIFT network, a workgroup of payments expert to ensure a common roll out and implementation of ISO20022 by banks.
CBPR+
BMCEMAMC
What is the structure of BIC/SWIFT code?
4 alphabetical characters, 2 alphabetical characters, 2 alphanumerical characters, 3 optional alphanumerical characters
Is the practice of holding on to payment instructions received and releasing them at a point in time in the future.
Warehousing
Manages internal accounts and ensures liquidity for internal accounts.
Internal Reconciliations
MX Message consists of 4 parts: SSSS.EEE.PPP.AA:
SSSS being, EEE being, PPP being, AA being
SSSS being Business Area, EEE being Message Identification, PPP being Variant Number, AA being Version Number
NBADAEAA
FIRST ABU DHABI BANK PJSC