STP requirements
STP (Straight-through processing) is an automatic processing of transactions and/or payment transfers from beginning to end, including instruction’s automatic creation and confirmation, clearing and settlement.
For sending MT103 transfers to Lithuania the beneficiary’s account shall be given IBAN format in the first line of field 59. We recommend indicating beneficiary’s bank BIC in field 57A. If this code is not indicated the transfer will be carried out according to IBAN.
For sending MT103 transfers in EUR to other countries the correctly formatted MT103 message shall be as follows:
- Beneficiary’s bank (field 57A) and, if necessary, its intermediary (field 56A) are identified by BIC (SWIFT code).
- If the beneficiary’s domicile is in EU country the correctly formatted IBAN shall be indicated in the beneficiary’s account field.
- Field 72 Sender to Receiver Information shall be left blank.
- MT200 form shall be used for interbank transfers to own account in another correspondent bank. Field 72 Sender to Receiver Information shall be left blank.
MT202 form shall be used for all interbank transfer orders. All parties involved in the interbank transfer shall be identified by indicating their BIC in a respective field. Field 72 Sender to Receiver Information shall be left blank. Messages sent by or on behalf of the ordering institution on the same day may not carry the same Transaction Reference Number indicated in field 20.
If Ūkio bankas maintains mutual accounts in the same currency with a correspondent bank sending a message, the correspondent account number must be indicated in field 53B of the message
