ACH Transfers: Address data transmitted?

[Tepesch]

1. If you create a recipient at some US Emis, you have to enter the recipient's address, if you send an ACH transfer to this recipient for example. Is the address you entered for the recipient also transmitted in the ACH transfer? (matched against the address the recipient has on file at his bank account?)
2. Is address information transmitted on SEPA transfers?
3. Is address information transmitted on international wire transfers (SWIFT transfers)?

 

[Martin Everson]

Tepesch said:
2. Is address information transmitted on SEPA transfers?
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SEPA follows ISO 20022 so I would say yes.

Tepesch said:
3. Is address information transmitted on international wire transfers (SWIFT transfers)?
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Not mandatory if MT103 field 50 option A is used instead of option F or K. But banks prefer option F which includes address as they have to comply with Wolfsberg Group's Payment Transparency Standards and FATF Recommendation 16, which asks for name, address and account number.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Tepesch]

Martin Everson said:
SEPA follows ISO 20022 so I would say yes.




Not mandatory if MT103 field 50 option A is used instead of option F or K. But banks prefer option F which includes address as they have to comply with Wolfsberg Group's Payment Transparency Standards and FATF Recommendation 16, which asks for name, address and account number.
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Thank you! Do you know if address information is transmitted in ACH transfers?

 

[Martin Everson]

Tepesch said:
Thank you! Do you know if address information is transmitted in ACH transfers?
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No sorry.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Suzy Emerald]

Martin Everson said:
No sorry.
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Yes it does

 

[zzzzzz]

Both payer and beneficiary have their own address fields in SEPA transfer.

XML tags:

<PstlAdr>
<Ctry>GB</Ctry>
<AdrLine>OXFORD STREET 1</AdrLine>
<AdrLine>LONDON</AdrLine>
</PstlAdr>

Just checked all three types of payments:

ACH: no address tag in XML (unless they write it in TransactionDescription tag)
SEPA: payer and beneficiary address tag in XML
SWIFT: payer and beneficiary address tag in XML

Last edited: Apr 25, 2023

 

[Marie Manila]

Tepesch said:
2. Is address information transmitted on SEPA transfers?
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Yes it is.
I know of at least one bank that includes the sender's address on the bank statement for every SEPA transfer.

 

[Tepesch]

Thanks Everyone for answering!

zzzzzz said:
Both payer and beneficiary have their own address fields in SEPA transfer.

XML tags:

<PstlAdr>
<Ctry>GB</Ctry>
<AdrLine>OXFORD STREET 1</AdrLine>
<AdrLine>LONDON</AdrLine>
</PstlAdr>

Just checked all three types of payments:

ACH: no address tag in XML (unless they write it in TransactionDescription tag)
SEPA: payer and beneficiary address tag in XML
SWIFT: payer and beneficiary address tag in XML
Click to expand...

Thanks! So for ACH the transaction Description tag, is the same field where you as a customer can write something( payment reference field) or is this a different field that only the bank can fill?

 

[zzzzzz]

That is the field for additional info, nature or purpose of the payment... dividend, invoice number...etc.