Pacs.008

Credit Transfer Message or Clearing Message

A Pacs.008 message contains information about a funds transfer, including the parties involved, the amount and currency of the transfer, and any relevant payment references or additional information. The message is typically sent electronically between banks and can be used for both domestic and international transfers.

A sample payload of a Pacs.008 message is as follows:

<?xml version="1.0" encoding="UTF-8"?>
<Document xmlns="urn:iso:std:iso:20022:tech:xsd:pacs.008.001.02">
   <FIToFICstmrCdtTrf>
      <GrpHdr>
         <MsgId>12345678901234567890</MsgId>
         <CreDtTm>2023-04-16T10:34:56.000Z</CreDtTm>
         <NbOfTxs>1</NbOfTxs>
         <CtrlSum>100.00</CtrlSum>
         <InitgPty>
            <Nm>John Smith</Nm>
         </InitgPty>
      </GrpHdr>
      <CdtTrfTxInf>
         <PmtId>
            <EndToEndId>0001</EndToEndId>
         </PmtId>
         <Amt>
            <InstdAmt Ccy="EUR">100.00</InstdAmt>
         </Amt>
         <Cdtr>
            <Nm>Jane Doe</Nm>
         </Cdtr>
         <CdtrAcct>
            <Id>
               <IBAN>DE89370400440532013000</IBAN>
            </Id>
         </CdtrAcct>
         <CdtrAgt>
            <FinInstnId>
               <BIC>GENODEF1M04</BIC>
            </FinInstnId>
         </CdtrAgt>
         <RmtInf>
            <Ustrd>Payment for Invoice 123456</Ustrd>
         </RmtInf>
      </CdtTrfTxInf>
   </FIToFICstmrCdtTrf>
</Document>

In this schema, we can see several elements that provide information about the funds' transfer. For example:

• MsgId: This is a unique identifier for the message.

• CreDtTm: This is the date and time the message was created.

• NbOfTxs and CtrlSum: These elements provide information about the total number of transactions and the total amount being transferred.

• InitgPty: This element provides information about the initiating party (i.e., the person or organization sending the transfer).

• Cdtr and CdtrAcct: These elements provide information about the beneficiary (i.e., the person or organization receiving the transfer) and their account.

• CdtrAgt: This element provides information about the beneficiary's bank.

• RmtInf: This element provides any relevant additional information or payment references.