SWIFT Services

SWIFT Services

A single connection to seamlessly and securely connect with UOB and all your banking partners.

Benefits

Streamlined

Streamlined

A streamlined communication channel to send collection/payment instructions.

Optimal

Optimal

Visibility over your accounts allows you to manage cash balances optimally.

Flexible

Flexible

Onboard a new banking provider or switch between providers easily.

Efficient

Efficient

Have the ability to automate your operation and reduce connectivity risks.

Ready to apply?

Ready to apply?

Leave us your details and we will get in touch with you as soon as possible. Alternatively, you may like to reach out to your Relationship Manager.

Frequently asked questions

What is SWIFT For Corporates?
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SWIFT Standard Corporate Environment (SCORE) is a closed user group administered by SWIFT, where corporates can interact with Financial Institutions.

In order to transact with UOB over SWIFT, the corporate needs a member of SWIFT and have given your SWIFT Business Identification Code (BIC).

SWIFT SCORE membership criteria can be found on the official SWIFT website - https://www.swift.com/join-swift

UOB supports the following products over the respective SWIFT Messaging Services.

FIN

​​​​​For sending single standard SWIFT message, one at a time. Limited to 10k characters (including spaces).

  • MT 101 (Request for Transfer) - for request of funds transfer between customer or third party accounts domestically or internationally.
  • ​MT 900 (Confirmation of Debit) / MT 910 (Confirmation of Credit) - for notifying account owner when incoming / outgoing payment has been debited / credited.
  • MT 940 (Customer Statement Message) / MT 942 (Interim Transaction Report) - detailed information about all debit and credit entries to customer account.​​

FileAct

​​​For sending multiple messages in one file with no character limits. Ideal for bulk transactions.​

  • Bulk Payments - Both ISO 20022 Customer Credit Transfer Initiation V3 and UOB Proprietary Formats are acceptable.

Payment services include:

    • ​Telegraphic Transfer (TT)
    • Real-Time Gross Settlement (RTGS)
    • Fast and Secure Transfer (FAST)​
    • Automated Clearing House (ACH)
    • Cashier Order (CO)
    • Corporate Cheque (CCHQ)
  • Bulk Collections (Direct Debit Instructions)
  • Statements and Reports:
    • ​​ISO 20022 Cust​omer Payment Status Report V3
    • MT940 - Customer Statement Message
    • MT942 - Interim Transaction Report
    • CAMT053 – Bank to Customer Statement Report
    • CAMT052 – Bank to Customer Account Report

It is suitable for Corporates who are members of SWIFT, have high transaction volumes and looking for a single channel to connect to UOB and other bank partners.

Additional information

How does SWIFT for corporates work?
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How does SWIFT for corporates work?

How does SWIFT for corporates work?

A standard gateway to communicate with your nominated banks through SWIFT instead of having to adopt multiple proprietary channels to communicate with each of your nominated banks.

 

Initiate payment instructions or receive account statements through SWIFT in the following formats:
  • FIN Message MT101 (Request for your bank to make a payment)
  • Payment and collection files in bank accepted formats via FileAct (for bulk payment requests)
  • MT940 and MT942 (daily and intraday account statements)
  • MT300 (Foreign exchange confirmation)
  • MT320 (Fixed deposit confirmation)
Modes of transaction with UOB through SWIFT SCORE FileAct

Modes of transaction with UOB through SWIFT SCORE FileAct

Direct Straight-Through-Processing
In this mode, bulk payment / collection files are fully authorised in Customers’ own ERP system before they are sent to UOB. UOB will process the files without further authorisation from the Customer.

 

Interoperability with UOB Infinity
In this mode, bulk payment / collection files are routed to Infinity as Transactions Pending client’s Authorisation. The appointed Approvers in Infinity are required to log in, review and approve these bulk transactions to be released to the bank for processing.

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