MT 742 Reimbursement Claim

MT 742 is a swift message type that is sent by the paying/negotiating bank to the bank authorized to reimburse the Sender for its payments/negotiations.

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Swift is a provider of secure message platform for financial institutions mainly for banks.

Swift messages are being sent and received by banks in encrypted forms. As a result swift messages are accepted as a valid and reliable way of communication between banks.

For example, an issuing bank sends a swift message to an advising bank in order to inform issuance of a documentary credit. Similarly the advising bank sends its acknowledgement via a swift message.

Swift messages play a key role not only in letters of credit but also other payment methods in international trade such as cash in advance payment, documentary collections, open accounts and bank payment obligations.

What is MT 742 Reimbursement Claim?

MT 742 is a swift message type that is sent by the paying/negotiating bank to the bank authorized to reimburse the Sender for its payments/negotiations.

It is used to claim reimbursement of payment(s) or negotiation(s) under a documentary credit, as relevant to the reimbursing bank.

On below table you can find detailed explanations of the fields used under MT 742 Reimbursement Claim swift messages.

MT 742 Reimbursement Claim

StatusTagField Name
M20Claiming Bank's Reference
M21Documentary Credit Number
O31CDate of Issue
M52aIssuing Bank
M32BPrincipal Amount Claimed
O33BAdditional Amount Claimed as Allowed for in Excess of Principal Amount
M71BCharges
M34aTotal Amount Claimed
O57aAccount With Bank
O58aBeneficiary Bank
O72Sender to Receiver Information
O : Optinal      M : Mandatory

Sample: MT 742 Reimbursement Claim SWIFT Message

SWIFT Message
Sender : AMCONL2A
Message Type : 742
Receiver : OELBATSW

Message Text

20 : Claiming Bank’s Reference
LC543217890

21 : Documentary Credit Number
IM-DOC 123/2563789

31C : Date of Issue
130622

52A : Issuing Bank
ITSLBE55

32B : Principal Amount Claimed
EUR45000

71B : Charges
/COMM/EUR300,

34B : Total Amount Claimed
EUR45300

57A : Account With Bank
ROTTNL2A

58A : Beneficiary Bank
/700-122433 ROTTNL55
End of Message Text/Trailer