Processing of MT 204 will be having the following steps:

• Initial format validations & parsing of the message
• Verify whether the agreement exists for the sender BIC (8/11)
• Field 72 codewords validation for sequence A
• If the validation fails the message is moved to Business Override queue
• Splitting the message into individual debit requests - A new Inbound MT 204 Message Browser will be provided which lists the MT 204 messages received. The individual debit requests received in each message can be viewed in the browser.
• Agreement validation at individual request level –MT 204 agreement validation is done for the allowed BIC and debit account combination received in 53a.
• If account is not specified in 53a, system debits the account linked to the debit institution BIC in the maintenance. If multiple accounts are found, the debit is done to the primary account.
• If the agreement is not available or if the limit validations fail, the debit record is logged in Business Override queue.
• Field 72 Codeword validation – For each record the codeword validation is done for Sequence B Field 72 codeword.
• Network Resolution – Networks of payment types Cross border, RTGS, Book Transfer and Fedwire are allowed. Based on the Network and payment type derived outbound credit transfers are booked.
• Sending the requests to respective payment processor if activation date is current date:
  • D2A conversion is part of the individual transaction processing
  • Processing cutoff validation will be at transaction level. Duplicate check will be part of individual transaction processing. Sanction scanning will be done as part of transaction processing.
  • Charging-Payments generated out of MT 204 is provided with a specific source code so that separate price values can be maintained for the source for each Network.
  • Field 72 details in sequence B is copied in outbound MT 202 generated. If field 72 is not present in sequence B, sequence A field 72 details will be copied. The codewords will further be validated during MT 202 processing.
• Sanction Scanning for future - Sanction scanning is at each debit request level. Sequence A details will be part of the sanctions request. In case of seizure of funds, account will be debited and Seizure GL will be credited.

STP job performs the below mentioned validations before splitting an MT 203 message:

• The amount in field 19 must be equal to the sum of the amounts in all occurrences of field 32B.
• The currency code in the amount field 32B should be the same for all occurrences of this field in the message.
• The repetitive sequence must appear at least twice but not more than ten times.
• If field 56a is present in a transaction, then, field 57a should also be present.