Mapping of ALERT Fields to SWIFTs
Through discussions with different entities, we have tried to share the most common practice for mapping the ALERT fields to MT103, MT202, and MT202COV. We do acknowledge that certain parties vary this mapping and hence have offered this only a suggestion, keeping our key focus on the change in mandatory fields.
Cash Parties Definitions
| ALERT Field | Description |
|---|---|
| Cash Settlement Party Data: Receiving Agent Data | |
| A/C# @ Receiving Agent/IBAN |
Account number held at the local (receiving) agent. Note: Confer with your local receiving agent to confirm if the IBAN is mandatory. When settling in Thailand, populate this field with the NRBA (Non-Resident Baht Account) number. If the A/C# is not available, populate with a single full stop/period mark. |
| Receiving Agent BIC | BIC of local (receiving) agent. (generic name field: Local agent BIC) |
| Alt A/C # @ Receiving Agent/IBAN |
Alternate cash account number/IBAN. When an alternate currency can be used for settlement, populate the alternate account number/IBAN. |
| Alternate Currency | Alternate currency in which settlement can take place. |
| Beneficiary/ Custodian Data | |
| Beneficiary Inst. BIC | BIC of the institution to which the payment is made. (generic name field: Custodian BIC) |
| Beneficiary Inst Name |
Name of the institution to which the payment is made (generic field name: Custodian Name). If the Beneficiary Inst BIC is populated, this field gets automatically populated with the related BIC name. |
| Final Beneficiary A/C # / IBAN | Final Beneficiary A/C Number at the Global Custodian |
|
Beneficiary Inst Address Postcode/Zip Code |
Beneficiary Address Note: Mexico (MX)and Canada (CA)* mandate this information. *It is not recommended to use ALERT for storing the ultimate beneficiary information on Canadian money movements. This specific piece of information resides with our clients’ know your client (KYC) master information. ALERT is downstream from the KYC master records. Per SWIFT’s PMPG (Payments Market Practice Group), the “golden source for party data” resides in the Debtor’s KYC files, LEIs, and Debtor’s ERP (enterprise resource planning) software. |
| Intermediary Data | |
| Intermediary BIC | BIC of the institution to which the payment is made acting as an Intermediary. |
| Intermediary Name |
Name of the institution to which the payment is made (generic field name: Custodian Name). If the Intermediary BIC is populated, this field gets automatically populated with the related BIC name. |
| Intermediary A/C#/IBAN | Intermediary A/C Number |
|
Intermediary Address Postcode/Zip Code |
Intermediary Address Per SWIFT’s PMPG (Payments Market Practice Group), the “golden source for party data” resides in the Debtor’s KYC files, LEIs, and Debtor’s ERP (enterprise resource planning) software. |
| Relationship | Set to Correspondent - c. |
| Institution/Executing Broker Data | |
| Institution/Executing Broker BIC | BIC of the investment manager or the executing broker/dealer, whichever is applicable. |