Clearing & Settlement (pacs)Replaces MT 103Migration milestone
pacs.008
FI to FI Customer Credit Transfer
A pacs.008 carrying fully unstructured debtor/creditor postal addresses will be rejected once each rail enforces structured (or hybrid) addresses. The single 14 Nov 2026 cutover no longer holds: Fedwire moved to November 2027, Swift deferred CBPR+ enforcement (new date by December 2026), and the EPC's 15 Nov 2026 SEPA end-date stands pending its 9 September decision. Swift reported over 60% of traffic still carrying unstructured addresses in April 2026 — keep migrating.
Enforcement dates differ by rail — see the migration status table (verified 2026-09-04).
Overview
pacs.008 replaces the MT 103 as the interbank customer credit transfer. It carries the full party chain — debtor, debtor agent, intermediary agents, creditor agent, creditor — plus settlement amount and date, charge bearer, purpose codes, and structured remittance information.
Compared with the MT 103's free-format fields 50/59, pacs.008 parties carry structured name, postal address, identification (LEI, account), and country sub-elements. This structure is exactly what the structured-address rules bite on: once a rail enforces them, fully unstructured addresses are rejected. Enforcement dates now differ by rail — Fedwire in November 2027, Swift CBPR+ deferred pending a new date, SEPA still targeting 15 November 2026 at last check.
Key elements
| Element | Name | Notes |
|---|---|---|
| GrpHdr/MsgId | Message identification | — |
| GrpHdr/SttlmInf/SttlmMtd | Settlement method | INDA / INGA / COVE / CLRG. |
| CdtTrfTxInf/PmtId/UETR | UETR | End-to-end gpi tracking reference — mandatory. |
| CdtTrfTxInf/IntrBkSttlmAmt | Interbank settlement amount | With Ccy attribute; MT 103 field 32A. |
| CdtTrfTxInf/ChrgBr | Charge bearer | DEBT / CRED / SHAR — MT 103 field 71A. |
| CdtTrfTxInf/Dbtr / Cdtr | Debtor / creditor | Structured or hybrid postal address (at minimum town name + country) once each rail enforces — see the migration status table. |
| CdtTrfTxInf/RmtInf | Remittance information | Structured (Strd) strongly preferred over unstructured (Ustrd). |
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Other messages
head.001Business Application Header (BAH)pacs.009FI Credit Transferpacs.002FI to FI Payment Status Reportpacs.004Payment Returnpain.001Customer Credit Transfer Initiationpain.002Customer Payment Status Reportpain.008Customer Direct Debit Initiationcamt.052Bank to Customer Account Reportcamt.053Bank to Customer Statementcamt.054Bank to Customer Debit/Credit Notificationcamt.056FI to FI Payment Cancellation Requestcamt.029Resolution of Investigationcamt.110Investigation Requestcamt.111Investigation Response