Create an MT101 Payment

  • 1. On your Payment management page, click Create payment to display the Create payment screen.

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    If you want to create a payment based on an existing payment, select Create from existing > Individual payment and enter the name of the MT101 payment you want to use in the box on the right or click Search to search for and select the payment you want

    If you want to create a payment based on an existing template, select Create from existing > Template and enter the name of the MT101 payment template you want to use in the box on the right or click Search to search for and select the template you want.

    If you want to create a freeform payment select MT101 from the drop down list in Payment type.

    2. Enter the following information in to the available fields:

    • Account number - Enter the sort code and account number of the account you want to make the payment from or click to search for and select the account.
    • Debit account reference - Enter a reference to identify this payment in your statement. This is a mandatory field.
    • Account name - The name of the registered account. This field will be pre-populated once you select the account number.
    • Friendly name - The name of the account used to identify it in Commercial Banking Online. This field will be pre-populated when the account number is selected
    • Bank ID - The ID of the bank where the account is held this will be automatically completed when you enter the account number.
    • BIC - The BIC code of the bank where the account is held. If applicable this will be automatically completed when you enter the account number.
    • Instructing Party - Complete this field with your details (optional)
    • Debit Party is Instructing Party - This will automatically be ticked.
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    Alert For your security, please check the beneficiary account details for each payment, even if you are using an existing payment or template.

    3. In the Beneficiary information section the screen is split in to four parts, the two boxes on the left contain information about the beneficiary and the two boxes on the right contain information about the beneficiaries' bank.

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    Beneficiary Details section

    • Beneficiary name - Input beneficiary name or click Search to search for and select the account in your beneficiary library
    • Account type - select 'IBAN' or 'Other' depending on the beneficiary account type.

    If you select IBAN, a valid IBAN must be entered into the Account Number field. This will populate the boxes on the right of the screen with the beneficiary's banks details. If you select 'Other' and do not use a beneficiary from the library then you must manually input the beneficiary banks details.

    • Account number - Enter the beneficiary account number you want to make the payment to.

    Beneficiary bank section

    • Code type - This will populate for IBAN accounts with the code type SWIFT selected automatically. If you are using 'Other' as the account identifier, then you need to select the correct country code.
    • Bank code - Enter the sort code of the beneficiary's bank or click to search for and select the beneficiary's bank sort code. This information will have been automatically added if you have chosen a beneficiary from the Beneficiary Library or you are using a valid IBAN.
    • Bank Name - This will be populated based on your choice of Bank code.

    Beneficiary address section (optional)

    • Enter the address details for the beneficiary if required, this information will be automatically completed if you chose a beneficiary from the beneficiary library

    Beneficiary bank address section

    • This will be populated based on your choice of Bank code in the Beneficiary bank section.

    4. If you have selected a beneficiary from your library then most of the beneficiary information will have automatically populated in the beneficiary information. If any of the information is wrong Reset the form and re-enter your payment details.

    5. If you have access to the Beneficiary Library, you can save the details of any new beneficiaries you add to the payment or save changes you've made to existing beneficiaries using the Beneficiary Library section. Any changes to a beneficiary record or new entries to the Beneficiary Library will need to be approved before you can submit the payment.

    • Do not update beneficiary record - Select this option so that existing beneficiary details are not updated, or that new beneficiary details are not added to the Beneficiary Library. This is the default option.
    • Add beneficiary record - Select this option to add the beneficiary details as a new record in the Beneficiary Library. After selecting click Update Beneficiary Library.
    • Update beneficiary record - Select this option to save any changes to an existing beneficiary record in the Beneficiary Library. After selecting click Update Beneficiary Library.

    Alert For your security, we recommend that any changes to the beneficiary record are required to have a separate approval by another user.

    6. The layout of the Payment details section will depend on whether the Debit and Credit accounts are in the same currency:

     

    If Debit and Credit accounts are the same currency:

     

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    • Credit amount - enter the amount you want to transfer from the debit account to the credit account.
    • Currency code - the currency of the account, this will automatically populate with currency of your accounts.
    • Requested Execution Date - the requested execution date is the day on which you want the MT101 to be executed. Click Calendar to select the date you want the request to take place.
    • Transaction date - the date the payment will be made, this will automatically populate when you select a requested execution date.
    • Charges - Select how the transfer charges are to be applied:
      • BEN - (beneficiary) transfer charges are paid by the beneficiary.
      • SHA - (shared) charges are split between you and the beneficiary.
      • OUR - transfer charges are paid from your account.
       
    • Charges account - if you wish for the charges account to be different from the debit account populate the charges account details here

    If Debit and Credit accounts are different currencies:

    Please note Credit is the current available option.

    • Select the currency code of the currency you want to receive the credit in. This will then open a new field for a Debit amount. You can choose to either input your credit or debit amount.
    • Credit amount - enter the amount you want to transfer in the currency of the credit account. This will be indicated in the Currency code box.
    • Debit amount - enter the amount you want to transfer in the currency of the debit account. This will be indicated in the Currency code box.
    • Requested Execution Date - the date the money will arrive in the credit account. Click Calendar to select the date you want the transaction to take place.
    • Transaction date - the date the payment will be made, this will automatically populate when you select a value date.
    • Charges - Select how the transfer charges are to be applied:
      • BEN - (beneficiary) transfer charges are paid by the beneficiary.
      • SHA - (shared) charges are split between you and the beneficiary.
      • OUR - transfer charges are paid from your account.
       
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    Please note neither an FX Contract ID nor Exchange Rate provided in these fields will be validated.


    7. In the Additional information section:

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    Intermediary Bank

    Intermediary bank information is used to route funds between the executing bank and the beneficiary bank when no direct relationship is established.

    • Code type: this is already determined from the payment information above.
    • Bank Code - Enter the sort code or BIC of the intermediary bank or click to search for and select the intermediary bank sort code.
    • Bank name - The intermediary bank should automatically populate when you chose the bank code.
    • Intermediary address - The intermediary bank address should automatically populate when you chose the bank code.

    Regulatory Reporting

    This field specifies the codes for the statutory and/or regulatory information required by the authorities in the country of the Receiver or the Sender/originating customer. Applies to Sweden, Latvia, Poland and Norway.

    Available options are;

    BENEFRES – Residence of beneficiary customer

    ORDERRES – Residence of ordering customer

    Instructions section:

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    • Beneficiary reference (optional) - Enter the reference that will appear in the beneficiary's statement.
    • Instruction codes (optional) - This field specifies instructions to be used between the ordering customer and the account servicer. You can use more than one code but should not use the same code twice in the one payment. Some combinations cannot be used, for more information see the table below:
    Instruction Code Description Do not use in conjuncture with:
    CHQB This transaction contains a request that the beneficiary be paid by issuing a cheque. NETS, RTGS, URGP
    INTC This transaction contains an intra-company payment, i.e., a payment between two companies belonging to the same group.  
    NETS This transaction contains a payment that should be settled via a net settlement system, if available. CHQB, RTGS
    RTGS This transaction contains a payment that should be settled via a real time gross settlement system, if available. CHQB, NETS
    URGP This transaction contains a urgent payment which should be executed in as soon as possible. CHQB

    Originator

    • This contains your account information which will be automatically populated when you choose your account in the Debit account information section. The address fields will populate with the registered details for the account number being used.

    Alert For your security, we recommend that you check the beneficiary details are correct before submitting the payment.

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    8. When you're ready, submit the payment for approval. Depending on your user set up, you may have more than one approval required for the payment to accepted.

    If you're not ready to submit the payment yet, then you can save the payment as a draft.

    If you want to remove all the details you have entered and start the payment again click Reset or click Cancel to return to the Payment management screen.

    We recommend you check with the receiving bank to ensure the MT101 instruction has been received and actioned.

     
     

Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.

Lloyds Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Telephone: 020 7626 1500.

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.

We subscribe to the Lending Code; copies of the Code can be obtained from www.lendingstandardsboard.org.uk.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.