Cash services - Argentina
Cash payments
Below you can find the necessary information to include and formats to use when instructing cash payments in Argentinian Pesos, ARS.
The mandatory requirements1 for payment instructions to be processed in the market are the following:
Book transfers (payments to another Citi account)
- Beneficiary bank to credit BIC of beneficiary bank
- For Swift type MT103 use field :57a:.
- For Swift type MT202 use field :56a:.
- For Xact Web Portal use the field Intermediary or Account with Institution, as applicable.
- Beneficiary account number to be credited by local participant bank, which should be the account number (10 digits) and not a BIC.
- For Swift type MT103 use field :59a:.
- For Swift type MT202 use field :57a:.
- For Swift type MT202 use field:58A:/333333 (Optional: Participant Code, only numbers).
- For Xact Web Portal use field Beneficiary Institution or Account with Institution, as applicable.
Bank transfer to local banks (for example for TPFX)
- Beneficiary bank to credit BIC of beneficiary bank
- For Swift type MT103 use field :57a:.
- For Swift type MT202 use field :56a:.
- For Xact Web Portal use field Intermediary or Account, as applicable.
- Beneficiary account number to be credited by local participant bank, which should be the account number (10 digits) and not a BIC.
- For Swift type MT103 – Not applicable.
- For Swift type MT202 use field :57a:.
- For Xact Web Portal use field Beneficiary Institution or Account with Institution, as applicable.
- Beneficiary Tax ID, beneficiary name and type of beneficiary (for example PEP, NO PEP)
- For Swift types MT202 or MT103 use the following format:
Field
:72:/REC/44444444444 (11-digit beneficiary bank Tax ID)
/NAME/XXXXXXXXXX (Name of Beneficiary)
/PEP/XXX (PEP/NO PEP). If blank, Clearstream Banking's CCB will consider “NO PEP” as default. - For Xact Web Portal use the narrative field to include the information in the narrative lines as follows:
/REC/44444444444 (11-digit beneficiary bank Tax ID)
/NAME/XXXXXXXXXX (Name of Beneficiary)
PEP/XXX (PEP/NO PEP). If blank, Clearstream Banking's CCB will consider “NO PEP” as default.
- For Swift types MT202 or MT103 use the following format:
Bank transfer to beneficiary within a local bank (with CBU)
- Beneficiary bank to credit BIC of beneficiary bank
- For Swift type MT103 use field :57a:.
- For Swift type MT202 use field :56a:.
- For Xact Web Portal use field Beneficiary Institution or Account with Institution, as applicable.
- CBU Code of Beneficiary (22 digits)
- For Swift type MT103 use field :59a:.
- For Swift type MT202 use field :57a:.
- For Swift type MT202 use field :58A:/333333 (Optional: Participant Code, only numbers).
- For Xact Web Portal use field Beneficiary Institution or Account with Institution, as applicable.
- Beneficiary Tax ID, beneficiary name and type of beneficiary (for example PEP, NO Pep)
- For Swift types MT202 or MT103 use the following format:
Field
:72:/REC/44444444444 (11-digit beneficiary bank Tax ID, only numbers)
/NAME/XXXXXXXXXX (Name of Beneficiary)
/PEP/XXX (PEP/NO PEP). If blank, Clearstream Banking's CCB will consider “NO PEP” as default. - For Xact Web Portal use the narrative field to include the information in the narrative lines as follows:
/REC/44444444444 (11-digit beneficiary bank Tax ID 11, only numbers)
/NAME/XXXXXXXXXX (name of beneficiary)
PEP/XXX (PEP/NO PEP). If blank, Clearstream Banking's CCB will consider “NO PEP” as default.
- For Swift types MT202 or MT103 use the following format:
Note: Field :32A: YYMMDD/Currency/Interbank Settled Amount is a mandatory field format that should be used for STP purposes.
_________________________
1. Although some mandatory information may not be in line with Swift standards, they remain mandatory in Argentina. It is important to mention that any change, extra character or even additional information included in the cash instructions will lead to non-STP processing.