MT202 versus MT202 COV
MT202 carries a financial-institution transfer. MT202 COV supports the cover-payment method and includes underlying customer-transfer information so the institutions in the cover chain can identify the ordering customer and beneficiary.
Common fields
| Field | Purpose |
|---|---|
:20: | Transaction reference |
:21: | Related reference |
:32A: | Value date, currency and amount |
:52a: | Ordering institution |
:53a:–:57a: | Correspondent and intermediary chain |
:58a: | Beneficiary institution |
:50a: / :59a: | Underlying customer parties in a cover flow |
Operational review remains essential. Message variants, optional fields and network rules depend on the business flow and applicable SWIFT documentation.