quick reference guide outgoing international wire standard

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Quick Reference Guide Outgoing International Wire Standard Instructions

Treasury & Payment Solutions

This guide provides the requirements for outgoing foreign currency wires. It includes currency codes, any special formatting instructions, and any additional supporting documents or IBAN (International Bank Account Number)if needed to send a wire.

Country Specific Guidelines:

Currency Currency Code Special Formatting / supporting documentation requirement

IBAN Required

United Arab Emirates Dirham

AED - IBAN: 23 characters (AEXX + 19 digits) must be stated in F53- Purpose of payment must be stated in F77B- Ordering customer’s name and address must be supplied

Afghani Afghani

AFN - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Albanian Lek ALL - IBAN: 28 characters (ALXX + 24 characters)- Purpose of payment must be stated- Ordering customer’s name and address must be supplied- Beneficiary account name and number- For utility payments: name of the client, month of the utility bill period covered, and contract number of the subscriber

- For tax payments: FDP (payment order document generated by Tax Office system) is required

- For custom fee payments: NIPT (tax identification number)

Armenian Dram

AMD - Purpose of payment must be stated- Ordering customer’s name and address must be supplied- Trades over 20 million AMD require supporting documentation which reflect the purpose of payment (e.g., copy of invoice)

- Bank code must be added in front of beneficiary account numbers- Residency of beneficiary must be included (1 for resident and 2 for non-resident)

- Legal status of beneficiary must be stated (11-commercial organization; 12-non-profit organization; 21-individual; 22-individual entrepreneur)

- 10-digit TIN must be stated (legal entity or individual entrepreneur) or social card (individual)

Netherlands Antillean Guilder

ANG - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Angolan Kwanza

AOA - IBAN: 25 characters (AOXX + 21 digits)- Beneficiary may be required to provide such documentation as may be requested by the Correspondent Bank or the Beneficiary’s Bank in order to comply with the country’s Exchange Control Regulations and applicable local banking regulations

Australian Dollar

AUD - 6-digit BSB (Bank/State/Branch) routing code required

Arubian Florin

AUG - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

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Quick Reference GuideOutgoing International Wire Standard Instructions


IBAN Required

Azerbaijan Manat

AZN - BAN: 28 characters (AZXX + 24 characters)should be included in F59- Purpose of payment must be stated clearly in field 70- 10 Digit beneficiary tax ID- 6 Digit bank branch code in F59- Where the payment is for charitable purposes, this must be clearly stated, or Beneficiary may be subject to a tax charge for income received

- Must be sent via MT103

Bosnia Herzegovina

Marka

BAM - IBAN: 20 characters (BA39 + 16 digits)- Purpose of payment must be stated- Ordering customer’s name and address must be supplied- If the final beneficiary belongs to a budget organization (Government organization), the following details need to be provided:- Budget Organization Code- Profit Type (6 number combination)- Citation Number (Municipality) – (3 number combination)

Barbadian Dollar

BBD - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Bangladeshi Taka

BDT - Beneficiary Bank SWIFT/BIC CODE and full beneficiary bank branch name and address must in F57D

- On value date, the local Correspondent/Paying Bank will inform Benefi-ciary Bank of the inward remittance. The Beneficiary is required to com-plete an Inward Remittance Form (FORM C) indicating the purpose of the remittance. After the Paying Bank receives the completed form, it will release funds to the Beneficiary Bank and the payment normally clears the same day. However, delays do occur. In most cases, the formalities can be completed within 2-5 days, especially if the Beneficiary has an account with the Paying Bank. However, this process can also take weeks after the original value date.

- Please note that payment delays may occur due to Central Bank regula-tions that require our correspondent to send a purpose declaration letter to the beneficiary bank confirming beneficiary details. This is irrespec-tive of the amount. To facilitate this process, it is recommended that you include the beneficiary bank’s name and branch address which will help expedite the documentation process.

Bulgarian Lev

BGN - IBAN: 22 characters (BGXX + 18 characters)- Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Bahrain Dinar

BHD - IBAN: 22 characters (BHXX + 18 characters)- Purpose of payment must be stated- Beneficiary full address (street address, city, country)- Ordering customer’s name and address must be supplied

Burundian Franc

BIF - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Bermudan Dollar

BMD - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

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IBAN Required

Brunei Dollar BND - Purpose of payment must be stated- Ordering customer’s name and address must be supplied- Beneficiary’s address must be supplied

Bolivian Boliviano

BOB - Beneficiary may be required to provide such documentation as may be requested by the Correspondent Bank or Beneficiary’s Bank in order to comply with the country’s Exchange Control regulations and applicable local banking regulations

Brazilian Real

BRL - There is a one-time setup at the Correspondent Bank for every new Beneficiary. Subsequent transfers to the same beneficiary can be ex-ecuted without documentation. For the one-time set-up, the following information is required to be provided by the Payor: Beneficiary name and Account number, ‘Agencia’ number (Branch) or IBAN (BRXX + 25 characters), telephone number, email address & contact person at the beneficiary.

- Additionally, for every transfer, the Payor must provide the Telephone number, email address and contact person at the Beneficiary Bank in the Transaction Details fields of the Payment Instruction, plus benefi-ciary’s Taxpayer’s ID, CNPJ, purpose and amount of first payment.

- Beneficiary shall be required to provide such documentation as may be requested by the Correspondent Bank or Beneficiary’s Bank in order to comply with the country’s Exchange Control regulations and applicable local banking regulations

Bahamian Dollar

BSD - Purpose of payment must be stated- Ordering customer’s name and address must be supplied- Supporting documents (e.g., invoice ) need to be submitted from the ben-eficiary to the Beneficiary Bank for payments greater than 25,000 BSD

Botswana Pula

BWP - Beneficiary Bank SWIFT/BIC CODE- Purpose of payment must be stated- Ordering customer’s name and address must be supplied.- Beneficiary Bank’s 6-digit bank branch code in F70- 11 digit beneficiary account number in F59,for accounts held at First National Bank

Belarusian Ruble

BYN - Beneficiary Bank SWIFT/BIC CODE- Purpose of payment must be stated- Cannot make payments to beneficiaries that are individuals- IBAN: 28 characters

Belize Dollar BZD - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Canadian Dollar

CAD - Include 9-digit Canadian transit number

Congolese Franc

CDF - Purpose of payment must be stated- 23-digit beneficiary account number/ IBAN- Copy of invoice may be required for payment of goods and services

Switzerland CHF - IBAN: 21 characters (CHXX + 17 characters)

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IBAN Required

Chilean Peso CLP - There is a one-time setup of every new beneficiary to be done at the Correspondent Bank to comply with Chile’s Exchange Control Regula-tions. The following information is required on payment instruction: Full bank account details including bank name and branch.

- In the Transaction Details fields of the payment instruction, provide the Routing Number (the RUT number, taxpayer ID—9 digits), Tele-phone number & Beneficiary contact person

- Once the completed payment order is received, the details are sent to local correspondent and they contact the Beneficiary regarding requirements. Once the Beneficiary has returned the completed docu-ments, the payment will be processed. Subsequent transfers to the same Beneficiary can be executed without documentation but must still include the following information:

- Beneficiary name, taxpayer ID (RUT number) and telephone number.- Beneficiary shall be required to provide documentation as may be requested by the Correspondent Bank in order to comply with the country’s Exchange Control Regulations and applicable local banking regulations

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IBAN Required

Chinese Yuan Renminbi

CNY - Specific formatting and guidelines must be followed for CNY/CNH payments.• Standard Requirementsa) Beneficiary Bank SWIFT/BIC CODE Field 57Ab) CNAPS Code: 14 characters (CN + 12 digits) Field 57Dc) Beneficiary Account Name Field 59d) Beneficiary Account Number Field 59e) Detailed Purpose of Payment Field 70f) Payment Code: 6 digits Field 72

• Payments to non-resident beneficiaries are heavily restricted and subject to local regulations which may or may not permit the pay-ment.

• Purpose of Payment Code Descriptiona) CTRDDR Cross-border Service Trade: Cross-border settlement conducted for trade in services, including individual bill payments, services or fees relating to transportation; travel; communications; construction services; installation projects and their subcontract services; insurance; financial services; computer and information services; royalties and license fees; sports and entertainment; wa-ter, electricity and gas bills to be paid by corporations or financial institutions; rent; audit fees; hotel accommodation fees; legal fees; advertising and promotion fees; copyright and design fees; research and development fees; company registration fees; medical expenses; government services not mentioned above and other commercial services, etc.

b) PESRMT Cross-border Payment (Individual): Outward remit-tance by an individual customer from Hong Kong to the same name account maintained in the Mainland Inward remittance by an individual customer from the Mainland to the same name account maintained in Hong Kong

c) BTRDDR Cross-border Goods Trade: Cross-border settlement conducted for trade in goods, including individual retail consump-tions, general merchandise, goods for processing, goods required for repairing, goods procured in ports by carriers, transactions to be settled by letter of credit, bills for collection, payment of import equipment and advanced payment, etc.

d) BFTFDR Cross-border Fund Transfer: Cross-border fund transfer between banks

e) STRDDR Cross-border Capital Transfer: Capital account transac-tions, (capital transfers and acquisition/disposal of non- productive or non-financial assets), capital injection, capital reduction, capital payment, direct investments, securities investments, other invest-ments, shareholder’s loan/repayment, other capital payments as ap-proved by relevant regulatory authorities, fund transfers for foreign direct investment (“FDI”) by enterprises and RMB Qualified Foreign Institutional Investor (“RQFII”) projects by enterprises, bonds, fund transfer between enterprises, individual investments, etc. If transact-ing in RMB (CNY/CNH), BNY Mellon requires you to sign the BNY Mellon RMB Legal Amendment. A separate document called the ‘BNY Mellon Chinese Yuan Renminbi (RMB) Payment Service Guide’ which provides formatting requirements, background about the cur-rency and guidance on the permissible payment types and will be provided to you.

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IBAN Required

Chinese Yuan Renminbi

(cont’d)

CNY You will be provided with both documents during on-boarding if you have disclosed your intent to transact in RMB. Otherwise, your Rela-tionship Officer or Client Service Officer will provide you with these documents when you begin to transact in RMB (post on-boarding phase).

Colombian Peso

COP There is a one-time pre-trade set up at our correspondent for every new beneficiary to comply with Colombia’s Exchange Control Regulations. The following information is required for each beneficiary:- Full Bank account details (incl. bank name, branch)- Beneficiary contact name, phone number, and email in F70- Tax ID (NIT for businesses and Cédula for individuals) in F70- Purpose of Payment in F70

Once this information is received the Beneficiary will be contacted to explain the documentation required to complete the set up with our Correspondent Bank. Once this information is received by our Corre-spondent Bank we will obtain approval and confirm with the Benefi-ciary to process the first payment.Registration normally takes one week. Pre-registration requests with insufficient information will be rejected. Payments to non-registered beneficiaries will also be rejected. Currently we can only support pay-ments to the following local banks:

Banco AV Villas Banco de Bogota

Banco Caja Social BCSC Banco Davivienda

Bancolombia Banco GNB SudamerisHelm Bank (Banco de Credito) BBVA Colombia

Banco de Occidente Citibank

CorpBanca

Costa Rican Colon

CRC - 9-12 digit Cedula juridica (beneficiary’s taxpayer ID)- 17-digit account number (cuenta cliente)- 22-digit IBAN is required for all CRC payments- Beneficiary street address- Beneficiary contact name and telephone number- Beneficiary required to provide documentation (to identify origin and destination of funds) as may be requested by the Correspondent Bank or Beneficiary’s Bank in order to comply with the country’s Exchange Control regulations and applicable local banking regulations. Benefi-ciary ID provided must match the Beneficiary ID that was supplied in the payment instructions

Cape Verde Escudo

CVE - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Czech Crown CZK - IBAN: 24 characters (CZXX + 20 digits)- Purpose of payment must be stated- Ordering customer’s name and address must be supplied

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IBAN Required

Djibouti Franc

DJF - Name of the purchaser, the purpose of payment must be explicitly mentioned in the Transaction Details fields of the Payment Instruc-tion

- Branch name and full address of bank required, plus contact name and telephone number for beneficiary

- Beneficiary may be required to provide documentation, as may be requested by the Correspondent Bank or Beneficiary’s Bank in order to comply with the country’s Exchange Control regulations and appli-cable local banking regulations. Supporting documentation (such as a copy of the invoice or payroll request) must be provided in support of the underlying economic reasons for the remittance.

Danish Krone DKK - IBAN: 18 characters (DKXX + 14 digits)

Dominican Peso

DOP - Type of account (checking/savings) indicated in details of payment field recommended

- Beneficiary shall be required to provide such documentation as may be requested by the Correspondent Bank or Beneficiary’s Bank in order to comply with the country’s Exchange Control regulations and applicable local banking regulations

Algerian Dinar

DZD - 20-digit account number is required- Detailed purpose of payment must be stated- Ordering customer’s name and address must be supplied

Egyptian Pound

EGP EGP is a restricted currency. Due to strict Egyptian currency exchange controls this currency is supported on a limited basis.In order to comply with Egyptian currency exchange controls we do not support inbound payments. Payment receipts outside of Egypt are not permittedAll EGP outbound payments must be paid to a beneficiary bank located in Egypt. Payments being sent outside of Egypt are not permit-ted. All payments must be related to commercial activity, such as the settlement of goods and services. The following information must be included in your payment instruction:- The ordering customer’s name and address (including details of any third parties it being made on behalf of your customer)

- Egyptian Beneficiary bank SWIFT BIC. Please include the full benefi-ciary bank branch address in the payment details F57.

- Beneficiary account number and name. It is recommended to in-clude the beneficiaries telephone number, if provided, place it in the payment details field as it can assist with timely settlement.

- A clear and detailed purpose of payment in the payment details F70 (rent, salary, medical expenses, office expenses, etc.).

Please note the Beneficiary may be required to provide supporting documentation in order to comply with the Egyptian exchange control regulations and applicable local banking regulations. To avoid delays we recommend you check that the beneficiary has agreed the receipt of funds with their bank before sending the payment

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IBAN Required

Eritrean Nakfa

ERN - The branch name or full address of the beneficiary bank is required even if F57A is already stated. The branch name should be included in F72

- Contact name and telephone number of the Beneficiary can help cut delays

- Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Ethiopian Birr

ETP - The branch name or full address of the beneficiary bank is required even if F57A is already stated. The branch name should be included in F70 or F72

- Contact name and telephone number of the Beneficiary can help cut delays


Euro EUR - IBAN required for payments

Fijian Dollar FJD - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

British Pound GPB - IBAN: 22 characters (GBXX + 18 characters)- Beneficiary account number + sort code (6 digits) or IBAN can be used within the UK, unless otherwise stated by the Beneficiary Bank

Georgian Lari GEL - IBAN: 22 characters (GEXX + 18 characters)- Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Ghanaian Cedi

GHS - Beneficiary Bank SWIFT/BIC CODE orbank branch code in F57A- Purpose of payment must be stated- Ordering customer’s name and address must be supplied- Full beneficiary street address is required; PO Box will not be accepted

Gambian Dalasi

GMD - IBAN (Recommended): 18 digits- Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Guinean Franc

GNF - IBAN required: 18 characters- Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Guatemalan Quetzal

GTQ - IBAN required: 28 characters (GT + 26 digits)- Purpose of payment must be stated- Ordering customer’s name and address must be supplied- Payments to individuals are not permitted

Guyanese Dollar

GYD - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

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IBAN Required

Hong Kong Dollar

HKD - Beneficiary Bank SWIFT/BIC CODE in F57A- Purpose of payment must be stated- Full beneficiary name, address, account number and full bank name, branch name and address is suggested

- For a beneficiary holding an account in Hong Kong, the beneficiary account number (F59) should be comprised of a 3-digit branch code, followed by an account number of up to 10 digits.

Honduran Lempira

HNL - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Croatian Kuna

HRK - IBAN: 21 characters (HRXX + 17 characters) must be stated in F53- Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Haitian Gourde

HTG - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Hungarian Forint

HUF - IBAN: 28 characters (HUXX + 24 digits)- Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Indonesian Rupiah

IDR - Purpose of payment must be stated- Beneficiary may be required to provide supporting documentation to comply with the country’s Exchange Control regulations

- Transfers equal to or greater than 1 Mil USD equivalent:o Supporting documentation indicating purpose of payment and

exact IDR amount for each payment (a copy of the invoice or payroll request, or a letter on signed letterhead describing reason for transfer)

- Transfers < IDR500 Million: Field 72 should include mandatory data in the following format SKNINFO/A/B/C/D/E, where:o SKNINFO = Keyword (this is used to help systems automatically

pick up the required code)o A = Sender type (1 = Individual, 2 = Company/Corporation,

3=Government)o B = Sender residency (1=Resident, 2=Non-resident)o C = Beneficiary Bank City Code and should = 0 (since this is

currently not an obligatory requirement)o D = Beneficiary type (1 = Individual, 2 = Company/ Corporation,

3=Government)o E= Beneficiary residency (1=Resident, 2=Non-resident)

For example, in Field 72: SKNINFO/2/1/0/1/1 would mean that this is a payment by a corporate to an individual who are both residents

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IBAN Required

Israeli Shekel ILS - ILS to Israel - IBAN: 23 characters (ILXX + 19 digits) in F59- ILS to Palestine - IBAN: 29 characters (PSXX + 25 characters) in F59- Details of Correspondent Bank if in Palestine- Purpose of payment must be stated- Ordering customer’s name, address, customer identification number and date of birth must be supplied

- Bank number and branch number also required- SWIFT option A (BIC Code) must be used in fields 56 and 57 to avoid processing delays

- The name and the full address of the ordering customer should be indicated in field 50K.

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IBAN Required

Indian Rupee INR - Beneficiary may be required to provide a Foreign Inward Remittance Certificate (FIRC) to confirm the validity of the payment to India. An FIRC is normally issued by the Bank receiving the currency upon writ-ten request from the Beneficiary. Please note that a request for a FIRC can result in delayed credit to the beneficiary.

- The free flow of funds outside of India is prevented by exchange con-trol restrictions. INR payments are not permitted to any accounts held with a beneficiary bank located outside of India.

- Payments to non-Indian nationals residing in India are permitted only for salary payments, payments for services rendered or mainte-nance payments.

- INR will be remitted by BNYM using the MT103 serial payment method of payment. INR remitted via the direct and cover method of payment (MT202COV) is not allowed due to local restrictions.

- Payments must include the following information, failure to provide this information will lead to payment delays or payments may be returned.

- F57A: IFSC or IFSC+BIC codes are required (formatting below)

OPTION 1IFSC CODE & BIC CODE

Recommended 57A <cdtrAgt><Finlnstnld> <BIC> XXXXX

<ClrSysMmbld><Mmbld> XXXXXXXX

OPTION 2BIC CODE Mandatory

(If the IFSC Code is not provided)

57A <cdtrAgt><Finlnstnld><BIC> XXXXXX

- F70: Purpose of payment must be provided and should include:• Purpose Code• Description Narrative• See Helpful Links below for Reserve Bank of India Purpose Codes and description Narratives

- Ordering Customer’s name, address and bank details (where ordering customer is the party or company instructing the payment).

- If the Ordering Customer is instructing the payment on behalf of an-other party (the underlying remitter), the full name and address of the underlying remitter is also required.

- Indian beneficiary bank details including branch code (11 character IFSC code). A full list of IFSC codes can be found at the link provided below, see Helpful Links.

- Inward payments are not permitted.- Charity, donation or contribution payments may be made only to trusts, organizations or associations that are authorized to receive foreign contributions. Payment must include beneficiary’s Foreign Contribution Regulation Act (FCRA) registration number; this number is checked before the beneficiary account is credited. It is the responsi-bility of the final beneficiary to provide their FCRA registration num-ber to the ordering customer for inclusion in the payment. Additional information can be found on the Government of India, Ministry of Home Affairs website, see Helpful Links.

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IBAN Required

Indian Rupee (cont’d)

INR Helpful Links• Reserve Bank of India website http://www.rbi.org.in/• Reserve Bank of India consolidated list of IFSC codes http://www.rbi.org.in/scripts/Neft.aspx

• Government of India, Ministry of Home Affairs, Foreign Contribution Regulation Act (FCRA) http://mha.nic.in/fcra.htm

• Reserve Bank of India, Purpose Codes https://www.rbi.org.in/upload/notification/pdfs/52220.pdf

Icelandic Krona

ISK - Purpose of payment must be stated- 26 character IBAN required- Beneficiary bank SWIFT BIC (F58)- MT103 payments are not allowed

Jamaican Dollar

JMD - Full Beneficiary Bank name, branch code and address is required- Beneficiary shall provide all such documentation as may be requested by the Correspondent Bank or Beneficiary’s Bank in order to comply with the country’s Exchange Control regulations and applicable local banking regulations

Jordanian Dinar

JOD Payments must include the following information. Failure to provide this information will lead to payment delays or payments may be returned.

- Beneficiary account number, full name and address.- IBAN is required (F53) which will be 30 characters in length- Purpose of payment must be provided for all JOD payments A full list of PoP codes can be found in the Unified Code List, which can be located http://www.cbj.gov.jo/uploads/purpose_code_of_remittances.pdf

- For automated (or STP) payment processing the PoP codes must be detailed on the first line of the payment details field (SWIFT field 70), for example: Example 1 - :70:/0007 INVOICE NUMBER 1234 Example 2 - :70:0007 INVOICE NUMBER 1234

- If you or the remitting bank cannot use the first line of field 70 the code can be provided anywhere in SWIFT field 70 or field 72 (MT103 only). Please note this eliminates automated payment processing. The PoP must also be preceded by fixed text: JO POP – for example: Example 1 - :70:INVOICE NUMBER 1234 JO POP 0007 Example 2 - :72: /ACC/JO POP 0007 INVOICE 1234

Japanese Yen JPY - Purpose of payment is highly recommended

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IBAN Required

Kenyan Shilling

KES - Beneficiary Bank branch code and name: branch code is 3 digits or 5 digits if it includes the 2-digit bank code

- Purpose of payment must be stated- Beneficiary name, telephone number and full address (including street name, city, country and postal code) must be supplied

Kyrgyzstani Som

KGS - 8-digit payment code (list of applicable payment codes is available on request)

- Beneficiary may be asked to supply supporting documentation to prove purpose of payment


Cambodian Riel

KHR - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

South Korean Won

KRW - Purpose of payment must be stated- Beneficiary contact details needed for all payments over 20,000 USD equivalent

- Payment details must include the following: individuals: govern-ment- issued national ID – 13 digits; corporations/companies: tax ID or business registration number – 10 digits; foreign nationals: residence permit number

- Beneficiary may be required to provide such documentation as may be requested by the Correspondent Bank or Beneficiary’s Bank in order to comply with the country’s Exchange Control Regulations and applicable local banking regulations

- Salary payments are not supported- Pension payments below 20K USD or equivalent are supported

Kuwaiti Dinar

KWD - IBAN: 30 characters (KWXX + 26 characters) must be stated in F53- Beneficiary full address (street address, city, country)- Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Cayman Islands

KYD - Purpose of payment must be stated- Ordering customer’s name and address must be supplied, this must include a beneficiary street address in the Cayman Islands

Kazakhstani Tenge

KZT - IBAN: 20 digits must be stated in F53- 7-digit purpose code is required for all payments must be sent via MT103

- 12-digit fiscal code BIN (Business Identification Number) or IIN (Indi-vidual Identification Number) must be entered as a single text string on the second line of Field 59

- 3-digit KNP code, 2-digit KOD code (sender’s code – this will always be the digits “27” for non-resident senders) and 2-digit KBE code (benefi-ciary’s code) is required on the first line of Field 70

- Full beneficiary address

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IBAN Required

Laotian Kip LAK - Beneficiary address mandatory- Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Sri Lankan Rupee

LKR - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Liberian Dollar

LRD - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Lesotho Loti LSL - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Moroccan Dirham

MAD - Purpose of payment must be stated- Ordering customer’s name and address must be supplied- Payments must include the Beneficiary’s 24-digit account number

Malagasy Ariary

MGA - Payments now use IBAN: 23 digits or 27 characters (MG46 + 23 digits)- Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Mongolian Tugrik

MNT - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Macau Pataca MOP - Beneficiary Bank SWIFT/BIC CODE- Purpose of payment must be stated- Full beneficiary street address with city (no P.O. box address)

Mauritanian Ouguiya

MRU - IBAN: 23 digits or 27 characters (MRXX + 23 digits)- Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Mauritian Rupee

MUR - IBAN: 30 characters (MU + 28 characters)- Purpose of payment must be stated- Ordering customer’s name and address must be supplied

15



IBAN Required

Malaysia Ringgit

MYR - Payments must include the following information, failure to provide this information will lead to payment delays or payments may be returned

Name of ordering party- Originator full address- Full beneficiary account number is required in field 53- Full beneficiary account name- Purpose of payment is required in field 70 (MT103) or 72 (MT202)- For or payments above MYR 10,000 supporting documentation is required (except for reason of payment NCBO and TPFX NCBO) indi-cating the purpose and exact amount of each payment. Supporting documentation includes a copy of the invoice, payroll request, or a letter on signed letterhead describing the reason for transfer

Under the foreign exchange administration rules (FEAR) fund trans-fers between non-residents or between non-residents and residents are restricted except for the following payment purposes

- No Change in Beneficial Ownership (NCBO)- Third Party FX on NCBO basis (TPFX NCBO)

Malaysian Ringgit (MYR) accounts held by non-residents are known as “External Accounts”. Funds in the external MYR accounts may be free-ly repatriated. Additionally, these accounts may only be funded via a foreign exchange (i.e. sell FCY, buy MYR) or through approved reasons for incoming receipt of funds (e.g. sale of MYR assets like shares).The list of approved reasons for the transfer of funds from external accounts are:- Purchase of Ringgit asset/placement of fixed deposit.- Defraying administrative and statutory expenses in Malaysia- For the granting of financing to staff in Malaysia pursuant to the terms and conditions of service

- All other transfer requests will require the prior approval from the central bank, Bank Negara Malaysia (BNM). Additionally, the settlement of all international trade must be in a foreign currency. Therefore an importer may NOT pay the exporter in MYR even if the exporter may have a MYR external account with a bank in Malaysia. The reverse is true for an exporter.

16



IBAN Required

Maldives Rupee

MVR - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Malawian Kwacha

MWK - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Mexican Peso MXN - Purpose of payment must be stated- Ordering customer’s name and address must be supplied- The 18-digit CLABE account number for credit to all depository ac-counts in Mexico in F59

Mozambican Metical

MZN - NIB number - 21 digits or 25 characters (MZ59 + 21 digits)- Beneficiary shall be required to provide such documentation as may be requested by the Correspondent Bank or Beneficiary’s Bank in order to comply with the country’s Exchange Control Regulations and applicable local banking regulations

Namibian Dollar

NAD - Purpose of payment must be stated. Beneficiary may be required to provide such documentation as may be requested by the Correspon-dent Bank or Beneficiary’s Bank if it involves a loan or use of resident funds in order to comply with the country’s Exchange Control regula-tions and applicable local banking regulations

Nigerian Naira

NGN - Supporting documentation requirements exist mainly for Invest-ments and wherein there is an intention to repatriate Capital, Princi-pal, Dividends and Interest resulting from those investments

- Beneficiary may be required to provide such documentation as re-quested by the Correspondent Bank or Beneficiary’s Bank in order to comply with the country’s Exchange Control regulations and appli-cable local banking regulations

- The 10-character NUBAN (Nigerian Uniform Bank Account Number) account information is required

Nicaraguan Cordoba

NIO - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Norwegian Krone

NOK - IBAN: 15 characters (NOXX + 11 digits)

Nepalese Rupee

NPR - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

New Zealand Dollar

NZD - Full Beneficiary and Beneficiary Bank information is required- Beneficiary Bank’s SWIFT BIC in field 57A

Omani Rial OMR - Purpose of payment must be stated- Ordering customer’s name and address must be supplied- Beneficiary full address (street address, city, country)

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IBAN Required

Peruvian Nuevo Sol

PEN - Payor to indicate 20-digit CCI number in the ‘Transaction Details’ fields of the payment instruction

- Beneficiary Tax ID required: 11-digit RUC code or 8-digit DNI (Docu-mento Nacional de Identidad) or Carnet de Extranjeria (Foreign Regis-tration Card) for foreigners living in Peru

- Beneficiary may be required to provide such documentation as may be requested by the Correspondent Bank or Beneficiary’s Bank in order to comply with the country’s Exchange Control regulations and applicable local banking regulations

Papua New Guinean Kina

PGK - Purpose of payment must be stated- Ordering customer’s name and address must be supplied- Beneficiary may be required to provide such documentation as may be requested by the Correspondent Bank or Beneficiary’s Bank in order to comply with the country’s Exchange Control Regulations and applicable local banking regulations

Philippine Peso

PHP For PHP inbound payments we only support inward remittance of a freely convertible foreign exchange (FX). The PHP must be purchased from an authorized onshore (domestic) bank and they must clearly quote in their payment details field the reason for the payment (e.g. FX funding).Without a clear purpose of payment the inbound funding to your account could be delayed or rejected. All other types of inbound pay-ments are not permitted.All PHP outbound payments must be paid to a beneficiary bank lo-cated in the Philippines. Payments outside of the Philippines are not permitted. All payments must be related to commercial activity, such as the settlement of goods and services. The following information must be included in your payment instruction:

- The ordering customer’s name and address (including details of any third parties it being made on behalf of your customer)

- Beneficiary bank SWIFT BIC in F57A Please also include the full beneficiary bank branch address in the payment details field

- Beneficiary account number and name. It is recommended to include the beneficiaries telephone number, if provided, place it in the payment details field as it can assist with timely settlement.

- A clear and detailed purpose of payment in the payment details field

Please note the Beneficiary may be required to provide supporting documentation in order to comply with the Philippines exchange control regulations and applicable local banking regulations. To avoid delays we recommend you check that the beneficiary has agreed the receipt of funds with their bank before sending the payment.

18



IBAN Required

Pakistani Rupee

PKR For PKR inbound payments we only support inward remittance of a freely convertible foreign exchange (FX). The PKR must be purchased from an authorized onshore (domestic) bank and they must clearly quote in their payment details field the reason for the payment (e.g. FX funding).Without a clear purpose of payment the FX funding to your account could be delayed or rejected. All other types of inbound payments are not permitted.Al PKR outbound payments must be paid to a beneficiary bank located in Pakistan. Payments outside of Pakistan are not permit-ted. All payments must be related to commercial activity, such as the settlement of goods and services. The following information must be included in your payment instruction:- The ordering customer’s name and address (including details of any third parties if it is being made on behalf of your customer)

- Please include the full beneficiary bank branch address in the pay-ment details field

- Beneficiary IBAN and account name. Pakistan IBAN’s are 24 char-acters long and start with the prefix PK. It is also recommended to include the beneficiaries telephone number in the payment details.

- Beneficiary National Tax Number (NTN) must be provided in all MT103 payments (field 59 or 70) where the beneficiary is a Pakistani tax payer. The NTN consists of 8 digits (e.g. 0003456-2). The inclusion of this number is a regulatory requirement which is used for local central bank reporting (completion of Form R). The NTN is provided by the beneficiary.- MT202 payments, MT103 payments to individuals and MT103/202 payments to non- Pakistani tax payers do not require an NTN

- A written purpose of payment and related Purpose Code are required in all MT103 payments in the payment details field. The Purpose Code will be issued to you by the beneficiary who will agree with their bank which code to use. If you have not been provided with a Purpose Code please obtain one from the beneficiary before making your payment. A list of the codes found in the Pakistan Central Bank website are provided on the below link for reference information purposes only

Payment delays are dependent on the communication between the involved parties and the central bank reporting formalities could take between 3-7 days to complete. To facilitate the process, it is recom-mended you check that the beneficiary has agreed the receipt of funds with their bank before sending the payment and that you include all the applicable information from above.

Helpful Linkshttp://www.sbp.org.pk/fe_returns/cod7.pdf

Polish Zloty PLN - IBAN: 28 characters (PLXX + 24 digits)- Purpose of payment must be stated- Ordering customer’s name and address must be supplied

19



IBAN Required

Paraguayan Guarani

PYG - Purpose of payment must be stated- Beneficiary Bank SWIFT/BIC CODE- Beneficiary account number, full name, address- Beneficiary tax ID; for individuals this is a Cédula de Identidad and for companies it is aRUC

Qatari Rial QAR - IBAN : 29 characters must be stated in F53- Purpose of payment must be stated- Ordering customer’s name and address must be supplied- Beneficiary full address (street address, city, country)

Romanian Leu

RON - IBAN: 24 characters (ROXX + 20 characters) must be stated- NIF tax code mandatory if the final beneficiary is TREZROBU (Minis-try of Public Finance)


Serbian Dinar

RSD - Beneficiary will have to present to its local bank to authenticate a valid purpose for receipt of payment. The exact list of documents to be presented will depend upon the type of activity and source of pay-ment.


Russian Ruble

RUB - Payments for goods & services, and loans to Russian clients where val-ue exceeds 5,000 USD requires the Beneficiary to open a ‘passport’ for the transaction (passport sdelky) at the Beneficiary Bank. Individuals not registered as entrepreneurs or are Russian authorized banks are exempt from the requirement to open a passport for the transaction.

- 20-digit account number starting with 4 must be stated in field 57 or 59 (MT103) or 58 (MT202)

- 20-character KORR number- 9-character BIK code- Taxpayer identification - INN code (10 characters for companies and 12 for residents)

- VO code for purpose of payment (“VO”+ 5 characters) must be stated in field 70 (MT103) or 72 (MT202)

- Patronymic name: if beneficiary is female, resident and natural-born citizen of Russian Federation

- Full Beneficiary address recommended – city name is sufficient- Branch name – if the bank account- Beneficiary will be required to provide such documentation as may be requested by the Correspondent Bank or Beneficiary’s Bank in order to comply with the country’s Exchange Control Regulations and applicable local banking regulations

Rwandan Franc

RWF - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Saudi Riyal SAR - IBAN: 24 characters (SAXX + 20 digits)- Purpose of payment must be stated- Ordering customer’s name and address must be supplied- Beneficiary full address (street address, city, country)

20



IBAN Required

Solomon Islands Dollar

SBD - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Seychelles SCR - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Swedish Krona

SEK - IBAN: 24 characters (SE + 20 digits)

Singapore Dollar

SGD - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Sierra Leonean

Leone

SLL - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Surinamese Dollar

SRD - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

South Sudanese

Pound

SSP - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Sao Tome & Principe

Dobra

STD - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Swaziland Lilangeni

SZL - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Thai Bhat THB - F50: Ordering Customer’s account #, full name (no initials) and ad-dress must be supplied

- F57: Bene Bank’s Swift BIC with Branch identifier, Full name and ad-dress

- F59: Beneficiary Customer’s account #, full name (no initials), address, tax ID (if applicable), and as best practice, telephone number

- MT103 F70 and MT202 F72: Purpose of payment must be stated as to the nature of payment (e.g. goods, management services, consultancy services). Providing a number without adequate guiding text is insuf-ficient- “BOTINFO” followed by the 6 character purpose code must always

be quoted in the appropriate field on payment instructions in one of the following formats for bank payments:

- * /BNF/BOTINFO 123456- * /BOTINFO/123456 Please note no spaces are allowed between the

“/” and the purpose code- or one of the following formats for non-bank payments:- * BOTINFO 123456- * /BOTINFO/123456 Please note no spaces are allowed between the

“/” and the purpose code

21



IBAN Required

Tunisian Dinar

TND For TND inbound payments we only support inward remittance of a freely convertible foreign exchange (FX). The TND must be purchased from an authorized onshore (domestic) bank and they must clearly quote in their payment details field the reason for the payment (e.g. FX funding).Without a clear purpose of payment the FX funding to your account could be delayed or rejected. All other types of inbound payments are not permitted.All TND outbound payments must be paid to a beneficiary bank locat-ed in Tunisia. Payments outside of Tunisia are not permitted. All pay-ments must be related to commercial activity, such as the settlement of goods and services. The following information must be included in your payment instruction:

- The ordering customer’s account (IBAN recommended), account name and address (including details of any third parties if it is be-ing made on behalf of your customer)

- Beneficiary bank SWIFT BIC in F57A- If beneficiary bank SWIFT BIC is not available, provide the full ben-

eficiary bank branch address in the payment details F57D- Beneficiary IBAN and name. Tunisia IBAN’s are 24 characters long

and start with the prefix TN. It is recommended to include the ben-eficiaries telephone number in the payment details field as it can assist with timely settlement.

- A clear and detailed purpose of payment in the payment details field

Please note the Beneficiary may be required to provide supporting documentation in order to comply with the Tunisian exchange control regulations for overseas receipts of TND. To avoid delays we recom-mend you check that the beneficiary has agreed the receipt of funds with their bank before sending the payment.

Due to Tunisian market practice the Beneficiary may experience a one business day delay in the funds being applied to their account. Tuni-sian beneficiary banks typically apply funds on the next business day after the requested value date.

Tonga Pa’anga

TOP - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Turkish Lira TRY - IBAN: 26 characters (TRXX + 22 digits)- Beneficiary bank SWIFT BIC in F57A- Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Trinidad & Tobago Dollar

TTD - Purpose of payment must be stated- Ordering customer’s name and address must be supplied- 12-digit account number is required for payments going to accounts held at SCOTIABANK TRINIDAD AND TOBAGO LTD

22



IBAN Required

Taiwan Dollar

TWD - TWD is restricted by the Taiwanese regulatory authorities. BNYM only supports TWD payments to Taiwanese beneficiary banks, as offshore movements of TWD are prohibited

- Beneficiary may be required to provide such documentation as requested by the correspondent bank or beneficiary’s bank in order to comply with the country’s exchange control regulations and appli-cable local banking regulations

- Beneficiary full address (street address, city, country)- Purpose of payment MUST always be stated- In your payment please provide the beneficiary name, address and telephone contact number

- For payments greater than 1 Million USD equivalent; supporting documentation (invoice etc) to be provided by the beneficiary. If this information is not provided this may result in local banks delaying the credit to the beneficiary’s account

- TWD will be remitted by BNYM using the MT103 serial payment method of payment. TWD remitted via the direct and cover method of payment (MT202COV) is not allowed due to local Taiwan FX payment reporting regulations

- Payments to Chunghwa Post are not supported

Tanzanian Shilling

TZS - Beneficiary may be required to provide such documentation as may be requested by the Correspondent Bank or Beneficiary’s Bank in order to comply with the country’s Exchange Control regulations and applicable local banking regulations

Ugandan Shilling

UGX - Purpose of payment must be stated- Ordering customer’s name and address must be supplied- Currently UYU payments can only be made to HSBC and Citi Uruguay

Uruguayan Peso

UYU - Purpose of payment must be stated- Ordering customer’s name and address must be supplied- Type of account (checking or savings) must be indicated- Identification number for individuals (8 digits) / RUT for companies/organizations (12 digits)

Please note, however, that not all banks in Uruguay have a bank branch/agency number. The following banks must include the bank branch/agency number:

- Banco Republica- Banco Bandes- Banco Santander- Scotiabank

The following banks do not need a bank branch/agency number:- Banco BBVA- Banco Itau- Banco Heritage- Citibank- DiscountBank

23



IBAN Required

Vietnamese Dong

VND - Beneficiary Bank address is required except when tag A and BIC are included

- The bank branch name is required in F72 with a prefix such as BANK BRANCH NAME

- All payments to non-residents necessarily must indicate reason/pur-pose of payment

- Beneficiary full address required (street address, city, country)- “Remittance from overseas” should be added to F72 of MT103 only- Beneficiary may be required to provide such documentation as may be requested by the Correspondent Bank or Beneficiary’s Bank in order to comply with the country’s Exchange Control regulations and applicable local banking regulations

- Payments cannot be made to Foreign Indirect Investment Accounts (FIIAs)

Vanuatu Vatu VUV - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Samoan Tala WST - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Central African

States CFA Franc BEAC

XAF - Beneficiary may be required to provide such documentation as may be requested by the Correspondent Bank or Beneficiary’s Bank in order to comply with the country’s Exchange Control regulations and applicable local banking regulations

- The account numbers are IBAN (Country Code XX + 23 digits)

East Caribbean

Dollar

XCD - A Source of Funds form is required from the payor for all incoming XCD transfers/payments

- Full Beneficiary address required

West African States CFA

Franc BCEAO

XOF - Beneficiary may be required to provide such documentation as may be requested by the Correspondent Bank or Beneficiary’s Bank in order to comply with the country’s Exchange Control regulations and applicable local banking regulations

- Account Number: 24 digits

French Pacific Franc

XPF - IBAN: 27 characters (FR76 + 23 digits)- Purpose of payment must be stated- Ordering customer’s name and address must be supplied

Yemeni Rial YER - Purpose of payment must be stated- Ordering customer’s name and address must be supplied

24



IBAN Required

South African Rand

ZAR - Purpose of payment must be stated- Ordering customer’s name and address must be supplied- Need 6-digit transit number or BIC and Beneficiary Bank and address in F57A

(57A: //ZA(6-digit clearing code) BIC Code- Please note that payment delays may occur due to Central Bank regulations to contact the beneficiary bank to verify the purpose of payment. This is mandatory for all institution to institution payments (Remitter is XYZ Bank paying to XYZ Bank, FFC bene) and all wires > ZAR 50K.

- Payments to individuals < ZAR 50K, please include “For repatriation of investment allowance” in Field 72 (bank Information field) or in-clude purpose of payment.

- To facilitate this process, it is recommended that you include the specific beneficiary bank name and branch address, along with the beneficiary’s contact details (Phone# and/or email Address)

Zambian Kwacha

ZMW - For payments going to Barclays Bank Zambia, branch code required. This code is 2 to 6 characters (e.g. 02 00 17 bank code 02, area code 00 and bank branch code 17)

- Full Beneficiary address recommended- Purpose of payment must be stated- Ordering customer’s name and address must be supplied

If you have any questions, contact your Client Support Specialist.

Updated 01/2019

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