High Level FI to FI Customer Credit Transfer involved a serial leg in and out of a Use Case p.9.2.

5
cover method (pacs.009 COV)
4 7
1 2 3a
pacs.008 pacs.008
pacs.008
A pacs.002 B pacs.002 E pacs.002 F
3b

5 6
1 6
pacs.009 cov Agent D Nordea receives the payment
Debtor initiates a payment
and credits the account of Agent E.
instruction to the Debtor Agent
pacs.002 Agent D produces an end of day
Starling D
C account statement report. An optional
3a 4 Agent E Danske receives the payment
real time notification e.g. advice of
2 Debtor Agent (A) Starling initiates Agent B HSBC initiates a payment
instruction and process the payment
credit may have also been created at
using the cover method towards the the time of the credit posting
a payment using the serial method on to Agent F Blue Step. Alternatively
towards the Creditor Agent (F) Creditor Agent (F) Blue Step by
they may have chosen to await until
Blue Step sending a direct pacs.008 to Agent E
settlement occurred in Step 6 based
Danske who they have business
upon their risk appetite.
relationship with.
7
3b 5 Agent F Blue Step receives the
In parallel the Agent (B) HSBC initiates a Agent C RBS processes the payment payment and credits the account of
covering payment to credit the account on Agent D Nordea, using a the Creditor, and may optionally
of Agent (E) Danske with their correspondent banking business provide a notification e.g. credit
correspondent (Agent D) Nordea relationship notification.

REF 4567‐9663 125000 EUR 2022‐10‐20

Identifier Debtor A B C D E F Creditor

BIC SRLGGB2L MIDLGB21 RBOSGB2L NDEAFIHH HELSFIHH BPFNFI22
Name A Debiter Starling HSBC RBS plc Nordea Finland Danske Bank Blue Step G Oboe
Street 280 Bishopsgate Morricone Avenue
Town London Helsinki
Country GB FI

SWIFT © 2020. All rights reserved.

This publication contains SWIFT or third‐party confidential information. Do not disclose this publication outside your organisation without SWIFT’s prior written consent.
The use of this document is governed by the legal notices appearing at the end of this document. By using this document, you will be deemed to have accepted those legal notices.