ISO 20022: Citi Mini Series & Reference Guide Part 2

3 | Treasury and Trade Solutions What is a pacs.008? A pacs.008 is a SWIFT payment message used for Financial Institution to Financial Institution (FI to FI) Customer Credit Transfer. How Does This Work? The Financial Institution To Financial Institution Customer Credit Transfer message (pacs.008) is sent by the Debtor Agent to the Creditor Agent, 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. What Does This Mean? • Used for Commercial Payments • MX equivalent of MT103 • Used specifically for cross-border/international wire transfers What is the Structure of a pacs.008? What Does This Mean? The Credit Transfer Transaction Information contains a set of elements providing information specific to the individual credit transfer(s). The Group Header would have information related to all of the individual credit transfers within the message. However, the number of transactions in CBPR+ usage guidelines is fixed to 1, so the Group Header only needs to relate to the single individual credit transfer transaction that the pacs.008 contains. The pacs.008 has two core sets of nested elements: • Group Header which contains a set of characteristics that relate to all individual transactions • Credit Transfer Transaction Information which contains elements providing information specific to the individual credit transfer transaction pacs.008 Group Header Credit Transfer Transaction Information Source: CBPR+ User Handbook