MT-TAG-59A

MT tag 59a identifies the Beneficiary Customer on an MT 103; sub-options 59 (free text), 59A (BIC), 59F (structured name + address).

Definition

Tag 59a is the symmetric counterpart of 50a on the beneficiary side. The structured 59F sub-option is required for EEA payments since FATF R.16 and SWIFT MT 2018. Format: IBAN on line 1 + lines 2-4 name and address.

Origin

Present since the earliest MT 103 specs. The structured 59F sub-option arrives in 2018 for AML.

Use

On an MT 103 to a German supplier: :59F:/DE89370400440532013000\n1/Lieferant GmbH\n2/Hauptstrasse 1\n3/DE/München. The Receiver bank credits this account after automatic AML checks.

Related terms

• MT tag 50a — ordering customer.
• IBAN — account format.
• ISO 20022 — ISO 20022 successor.
• CdtTrfTxInf — ISO 20022 equivalent.