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MT103
It is part of the SWIFT payment system.
An MT103 is a detailed and standardized document that is generated when you complete an international wire transfer at a bank. It is part of the SWIFT payment system, and it is meant to act as a confirmation of payment, much like a receipt. It is the ‘proof’ that payment was made.
Related Glossaries
Payment cycle
A payment cycle refers to the interval of time from the end of one payment date to the next.
Hybrid organization
A Hybrid Organization is one that adopts both remote and in-office working arrangements.
Remote hiring
Process whereby all interviews are conducted not in person, but rather over platforms such as zoom.
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