Argentina: ARS cash transfers automation at Citibank Argentina
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 format templates 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 templates 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 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-to-book cash transfer instructions
MT202 template for book-to-book transfers
:20:1111111111111111 | Client's transaction reference number (16 characters maximum) |
:32A:YYMMDDARS00,00 | Value date, currency code, amount |
:53A:1111111111 | Sender's cash account number (local Citi cash account to be debited; 10 digits, only numbers) |
:56A:CITIUS33ARR | BIC of beneficiary bank, here: Citibank Argentina’s BIC |
:57A:/2222222222 | Beneficiary's cash account (local Citi cash account to be credited; 10 digits, only numbers) |
MT103 template for book-to-book transfers
:20:1111111111111111 | Client's transaction reference number (16 characters maximum) |
:32A:YYMMDDARS00,00 | Value date, currency code, amount |
:53A:1111111111 | Local cash account to be debited (10 digits, only numbers) – mandatory |
:57A: BIC | BIC of beneficiary bank |
| :59:/2222222222 | Credit account (10 digits, only numbers) |
Book cash transfer instructions
MT202 template for interbank transfers – bank transfer to local banks
:20:1111111111111111 | Client's transaction reference number (16 characters maximum) |
:32A:YYMMDDARS00,00 | Value date, currency code, amount |
:53A:1111111111 | Sender's cash account number (local Citi cash account to be debited; 10 digits, only numbers) |
:56A:BIC | BIC of beneficiary bank |
:57A:/22222222222222222222222 | CBU code of beneficiary (22 digits, only numbers) |
:72:/REC//44444444444 | Beneficiary's tax ID (11 digits, only numbers) |
/NAME/XXXXXXXXX | Beneficiary's name |
/PEP/XXX (PEP/NO PEP) | If left blank, Clearstream Banking will take NO PEP as default. |
MT103 template for interbank transfers – bank transfer to local banks
:20:1111111111111111 | Client's transaction reference number (16 characters maximum) |
:32A:YYMMDDARS00,00 | Value date, currency code, amount |
:53A:1111111111 | Local cash account to be debited (10 digits, only numbers) |
:57A:BIC | BIC of beneficiary bank |
| :59A:/2222222222222222222 | CBU code of beneficiary (22 digits, only numbers) |
:72:/REC//44444444444 | Bank's tax ID (11 digits, only numbers) |
/NAME/XXXXXXXXX | Beneficiary's name |
/PEP/XXX (PEP/NO PEP) | If left blank, Clearstream Banking will take NO PEP as default. |
MT202 or MT103 template for interbank transfers – when beneficiary is the receiving bank
:20:1111111111111111 | Client's transaction reference number (16 characters maximum) |
:32A:YYMMDDARS00,00 | Value date, currency code, amount |
:53A:1111111111 | Local cash account to be debited (10 digits, only numbers) |
:72:/REC//44444444444 | Bank's tax ID (11 digits, only numbers) |
/NAME/XXXXXXXXX | Beneficiary's name |
/PEP/XXX (PEP/NO PEP) | If left blank, Clearstream Banking 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 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.