💳 SWIFT MT‑104 – Direct Debit and Request for Debit Transfer (STP)
US Capital Private Bank Knowledge Base
MT‑104 is a SWIFT Category 1 message used primarily for direct debit instructions and requests for debit transfers between financial institutions. The MT‑104 (STP) variant supports Straight Through Processing (STP), enabling automated and efficient processing of debit transactions.
📘 What is MT‑104?
-
Purpose:
Initiates a debit transfer or direct debit instruction, authorizing a financial institution to debit an account and transfer funds accordingly. -
Use Cases:
-
Direct debit collection of funds for bills or payments
-
Interbank debit transfer requests
-
Scheduled or one-time debit instructions
-
-
Enables banks to efficiently manage debit payment flows.
⚙️ Message Structure & Key Fields
| Field | Description |
|---|---|
| :20: | Transaction Reference Number |
| :21: | Related Reference |
| :25: | Account Identification |
| :28D: | Message Index / Sequence Number |
| :50H: | Ordering Customer |
| :52A: | Ordering Institution |
| :59: | Beneficiary Customer |
| :70: | Remittance Information |
| :71A: | Details of Charges (OUR, SHA, BEN) |
🧩 Features & Benefits
-
Supports Straight Through Processing (STP): Enables fully automated debit transactions without manual intervention.
-
Improves Operational Efficiency: Reduces errors and processing times.
-
Supports Recurring and One-time Debits: Flexible for various business needs.
-
Ensures Secure and Traceable Transactions: Transmitted over the secure SWIFT network.
🔐 Compliance & Security
-
Adheres to SWIFT messaging standards and formats.
-
Compatible with AML and KYC compliance frameworks.
-
Provides audit trails for regulatory and internal review.
✅ Best Practices
-
Use unique transaction references to prevent duplication.
-
Clearly specify ordering and beneficiary details for accuracy.
-
Provide detailed remittance information for reconciliation.
-
Confirm charges code to clarify fee responsibilities.
📞 Contact US Capital Private Bank
📧 Email: customerservice@uscapitalprivatebank.com
🌐 Website: https://uscapitalprivatebank.com
📞 Phone: +971 52 992 6005
🎥 Watch: USCPBGOLD Explained
Banking platform registration: To help us serve you more efficiently, please complete your U.S. Capital Private Bank banking platform registration and account-opening profile at https://uscapitalprivatebank.com at your earliest convenience, where applicable.
The CRM Portal at https://www.uscapitalprivatebank.com/crm is used for communication, support tickets, service coordination, and status follow-up. The banking platform provides the secure account environment needed for onboarding, document verification, account setup, transaction preparation, and more organized client service.
Registration does not guarantee approval, funding, transaction completion, instrument issuance, compliance clearance, or activation of any banking service. All services remain subject to review, documentation, verification, compliance screening, internal approval, and applicable banking procedures.
Banking platform reminder: The CRM Portal is used for communication, support, and service coordination. For secure onboarding, document verification, account setup, transaction preparation, and more efficient client service, please also register on the U.S. Capital Private Bank banking platform at www.uscapitalprivatebank.com as soon as your CRM Portal registration is complete.