Routing instructions.

[dinesh2476]

Dear experts,

Since we don't handle EUR currency directly, we always insist banks to route the funds as below. In which the below highlighted is not clear to me, why do we ask to share the MT103 to us when the bank is sending out the MT202 directly to our EUR correspondence.

Please Pay EUR [amount] direct via MT103 to xxxxxx UAE (our bank )
for credit to [account name, account number], with separate cover message (MT202COV) via your
correspondent bank to xxxxxxxxx,London (OUR EUR correspondent) favour acct number A/C xxxxxx

Thanks & Regards
Dinesh Kumar.

[picant]

Hi Pal,

I dont understand, the presenting bank having no direct EUR Account will require to be credited with
a correspondent that will exchange the currency and properly credit the proceds.
In the past requiremnt to effect MT103 caused AML problems too.
Let us know, please?