Argentina: ARS cash transfers automation at Citibank Argentina – Reminder
Clearstream Banking1 informs clients that effective
immediately
Citibank Argentina acting as Clearstream Banking’s cash correspondent bank (CCB) for Argentina (ARS), applies an enhancement in its cash payment process: Swift MT202/103 messages received for cash payments at Citibank are processed on a straight-through processing (STP) basis.
Impact on clients
Clients are required to follow the updated formats provided below to ensure STP processing of cash instructions for ARS cash transfers. Messages not following this structured format will be processed manually until 28 February 2024, provided that all mandatory information is included.
Starting 1 March 2024, MT202 and MT103 instructions for interbank cash transfers and book-to-book payments that do not follow the cash instruction formats will be rejected at CCB level and clients will have to re-send instructions using the correct template.
Additionally, any change, extra character and additional information included in the cash instruction will lead to non-straight-through processing (STP) and therefore will be rejected.
Clients are required to follow the correct Swift MT202 and MT103 formatting to ensure full STP and to validate if they have any limitations to follow the mandatory instruction templates provided by Clearstream Banking’s CCB.
Book transfers
MT103
| :20: Transaction Reference Number | 16 characters maximum |
| :32A:190225ARS10 | ARS |
| :53A:1111111111 | Local cash account to be debited (10 digits, only numbers) |
| :57A:XXXXXXXX | BIC of beneficiary bank |
| :59A:/2222222222 | Credit account (10 digits, only numbers) |
MT202
:20: Transaction Reference Number | 16 characters maximum |
| :32A:190225ARS10 | ARS |
:53A:1111111111 | Local cash account to be debited (10 digits, only numbers) |
| :56A: XXXXXXXX | BIC of beneficiary bank (in this case CITIUS33ARR) |
:57A:/2222222222 | Credit account (10 digits, only numbers) |
:58A:/333333 | Participant code in ICSDs (only numbers) |
Bank transfers to local banks (for example, for TPFX)
MT103 or MT202 when beneficiary is the receiving bank
:20: Transaction Reference Number | 16 characters maximum |
| :32A:190225ARS10 | ARS |
:53A:1111111111 | Local cash account to be debited (10 digits, only numbers) |
| :72:/REC/44444444444 | Beneficiary bank tax ID (11 digits, only numbers) |
:57A:/22222222222222222222222 | CBU code of beneficiary (22 digits, only numbers) |
| /NAME/XXXXXXXXXX | Name of beneficiary bank |
| /PEP/XXX | PEP/NO PEP. If blank, CCB will take NO PEP as default. |
MT103
:20: Transaction Reference Number | 16 characters maximum |
:32A:190225ARS10 | ARS |
:53A:1111111111 | Local cash account to be debited (10 digits, only numbers) |
| :59A:/ 2222222222222222222222 | CBU (Unique Bank Code) of beneficiary (22 digits, only numbers) |
:57A:XXXXXXXX | BIC of beneficiary bank |
:72:/REC/44444444444 | Bank tax ID (11 digits, only numbers) |
/NAME/XXXXXXXXXX | Name of beneficiary |
/PEP/XXX | PEP/NO PEP. If blank, CCB will take NO PEP as default. |
MT202
:20: Transaction Reference Number | 16 characters maximum |
:32A:190225ARS10 | ARS |
:53A:1111111111 | Local cash account to be debited (10 digits, only numbers) |
:56A:XXXXXXXX | BIC of beneficiary bank |
:57A:/2222222222222222222222 | CBU (Unique Bank Code) of beneficiary (22 digits, only numbers) |
:58A:/333333 | Participant code in Euroclear or Clearstream (only numbers) |
:72:/REC/44444444444 | Beneficiary tax ID (11 digits, only numbers) |
/NAME/XXXXXXXXXX | Name of beneficiary |
/PEP/XXX | PEP/NO PEP. If blank, CCB will take NO PEP as default. |
Further information
For further information, please contact Clearstream Banking Client Services or your Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG clients using Creation accounts), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.