1. Cross Border User Guide
  2. Cross Border Maintenances
  3. Correspondents Maintenances
  4. External Correspondent

External Correspondent

The External Correspondent screen allows users to maintain the details of accounts serviced by the External Correspondents for MT 210 message .

MT 210 is supported for both own account transfers and bank transfers. If the account owner is available as the beneficiary institution in field 58 of the MT 202 sent, which is different from the currency correspondent, it is required to send MT 210 to the account owner notifying the transfer details.

  1. On Homepage, specify PMDEXCOR in the text box, and click next arrow.
    External Correspondent Detailed screen is displayed.

    Figure 3-5 External Correspondent Detailed


    Description of Figure 3-5 follows
    Description of "Figure 3-5 External Correspondent Detailed"

  2. Click New button on the Application toolbar.
  3. On External Correspondent Detailed screen, specify the fields.

    For more information on fields, refer to the field description below:

    Table 3-3 External Correspondent Detailed - Field Description

    Field Description
    Host Code System defaults the Host Code of transaction branch on clicking ‘New’.
    Account Owner Specify the Account Owner BIC from the list of values. All the valid BIC’s of the account Owners are listed.
    Account Serving Institution Specify the Account Serving Institution (ASI) BIC from the list of values. All the valid BIC’s of the ASI are listed.
    External Account Specify the valid External Account Number. This is the Account number, the account owner is holding with the ASI External Account.
    MT 210 generation is supported in the following cases for the outbound cross-border bank transfers MT 202:

    Case 1

    • Debit account is a Nostro Account or GL and the External correspondent maintenance PMDEXCOR is available.
    • The maintenance is to be available with
      • Beneficiary Institution (field: 58) BIC/Account as Account Owner BIC/Account
      • Account with Institution BIC (field: 57) as ASI BIC.
    • Receiver of MT210 will be Beneficiary Institution BIC in field 58 of MT 202 (Account owner BIC)

    Case 2

    • If the payment is for the credit of a Nostro account and the message is forwarded to a receiver bank other than AWI. The following conditions are checked in this case:
      • Debit account is a Nostro account
      • Account with Institution BIC is a Nostro correspondent and MT 210 is enabled in the Currency correspondent maintenance
      • Receiver BIC is different from AWI BIC.
      • External Account No of the Debit Nostro Account is populated in F58
    • Receiver of MT210 will be Account with Institution BIC in field 57 of MT 202.

    Example:

    Bank XYZ is having the following Nostro accounts with the USD currency correspondents, refer Table 3-*:
    • Bank XYZ sends MT 202 to Bank B for transferring funds from Account B1 to Account A1 held with Bank A. (In the outbound MT 202, field 57 - Bank A and field 58 - Bank XYZ BIC indicating the account to be credited as Account A1.If multiple accounts are existing with Bank B, Account B1 will be mentioned in field 53B.)
    • In this case MT 210 will be generated with Bank A as receiver advising the transfer of funds to Account A1.
    Correspondents Bank Bank
    Currency Correspondents Bank A Bank B
    Accounts with the Correspondents AccountA1 AccountB1

Parent topic: Correspondents Maintenances