ISO 20022: Citi Mini Series & Reference Guide Part 2

19 | Treasury and Trade Solutions What is a pacs.009? A pacs.009 is a SWIFT payment message used for Financial Institution Credit Transfer. How Does This Work? The Financial Institution Credit Transfer message is sent by a Debtor Financial Institution to a Creditor Financial Institution, directly or through other agents and/or a payment clearing and settlement system. It is used to move funds from a debtor account to a creditor, where both Debtor and Creditor are Financial Institutions. What Does This Mean? • Used for Treasury Payments • MX equivalent of MT202 • Used specifically for cross-border/international wire transfers What is the Structure of a pacs.009? The pacs.009 has two main use cases: • As a core Financial Institution Credit Transfer message • As a cov where it is used as cover of (to settle) a pacs.008. The pacs.009 cov therefore contains information of the underlying Customer Credit Transfer (pacs.008) for use in the cover scenario, which is the key attribute to differentiate between these two use cases. pacs.009 (core) Credit Transfer Transaction Information Group Header Source: CBPR+ User Handbook pacs.009 (cov) Group Header Underlying Customer Credit Transfer (pacs.008) Credit Transfer Transaction Information