Payment Classification


 

Payment Classification:

  • Credit Transfer Initiation (CCTI): classification used for payments that are received from an initiating party. The classification is used to request movement of funds from the debit party account to a credit party. The classification is used for, for example, SWIFT MT101 and PAIN.001 messages.
  • (FI2FI Customer) Credit Transfer: classification used for payments exchanged between the debit party agent and credit party agent, directly or through other agents and/or a payment clearing and settlement system. It is used to move funds from a debit party account to a credit party. The classification is used for, for example, SWIFT MT103, MT102 and PACS.008 messages.
  • Financial Institution Credit Transfer: classification used for payments exchanged between a debit party financial institution to a credit party financial institution, directly or through other agents and/or a payment clearing and settlement system. It is used to move funds from a debit party account to a credit party, where both debit party and credit party are financial institutions. system. It is used to move funds from a debit party account to a credit party. This classification is used for SWIFT MT202 and PACS.009 messages.


 



 





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