Third-party bank solution

MT101 payment order (request for transfer): the ideal tool for cash management

• Standardized communication and messaging (SWIFT)
• Postal account management via a third-party bank
• For quick and simple credit transfers in Switzerland and abroad
• Incoming delivery of MT101 messages with immediate execution (same day)
• Security provided by the international SWIFT network

MT940/MT942 electronic account statement: the electronic account statement in SWIFT format

• Standardized communication and messaging (SWIFT)
• Delivery of account statements to a third-party bank for accounting purposes
• Structured account statement – with booking codes upon request
• Delivery via SWIFT, Telebanking Server and FDS

1. You send a payment order to your bank
2. The contracted bank forwards your payment order to PostFinance via the SWIFT network
3. PostFinance transfers the relevant amount to the beneficiary
4. Account statements in MT940 format are sent to the third-party financial institution once a day and statements in MT942 format are sent according to customer preferences

Before MT101s can be exchanged, the following preconditions must be met:

Contract between PostFinance and your contracting bank

Your contracted bank must have concluded a bilateral agreement with PostFinance. Under this agreement PostFinance is obliged to execute the MT101s sent by the contracted bank.

Contract with your contracting bank

Before you can execute payment orders in MT101 format, you must sign a contract with your contracting bank. In this contract, you instruct the financial institution to transfer your payment orders with an MT101 via the SWIFT network.

Business account at PostFinance

As the receiving bank, PostFinance is ready to receive and process MT101s. Your payment orders are charged to your postal account.

Contract between PostFinance and the account holder

As an account holder, you sign a contract (registration) with PostFinance. Under this contract PostFinance is obliged to execute your orders that are sent from the contracting bank via the SWIFT network. Only business accounts listed in the registration form are debited.

The following parties are required to execute SWIFT MT101 payment orders:

• You as the sender with your bank (IP, instructing party)
• You or your branch as the holder of the account at PostFinance (OP, ordering party)
• The sender bank that sends the MT101 for you (in this case, the contracting bank)
• The executing bank that executes the MT101 (namely PostFinance)

Transaction prices

These prices apply for transactions within Switzerland.

Data submission (payment order)

MT101s and MT101s with immediate execution (same day) are free of charge.

Data delivery (account notification)

MT940s (with/without booking code) and MT942s (with booking code) are free of charge.