QAPCQAQD

Payment Instructions

General instructions for international payments to banks in QATAR:

Information required by the Beneficiary: Remitter should obtain all required bank information from the Beneficiary (e.g., SWIFT BIC, IBAN, and beneficiary bank address).

Payment Formatting Rules for QAR:

• Ordering Customer (SWIFT MT103 F50): Include account number, full name (no initials), and address of the ordering customer. Use of initials can delay receipt of funds by the beneficiary.
• Beneficiary Customer (SWIFT MT103 F59): Include account number, full name (no initials), and address (street address, city, country) of the beneficiary customer. Use of initials may delay receipt of funds by the beneficiary. IBAN numbers for beneficiaries with accounts in Qatar must be included in the payment instructions.

Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with branch identifier (where required), full name, and address of the beneficiary bank. SWIFT BIC is key to routing payments to the beneficiary bank (SWIFT BIC is 8 or 11 alphanumeric characters: xxxxQAxx or xxxxQAxxxxx).

Reason for Payment (SWIFT MT103 F70): Purpose of payment is recommended.

Additional Information: The local market is closed on Fridays.

IBAN: In Qatar, the IBAN consists of 29 characters. The structure is QA2!n4!a21!c, which includes the country code 'QA', followed by a two-digit check number, four alphanumeric bank code characters, and a 21-character account number. Example of electronic format: QA98ABCD12345678912345ABCDEFG. Print Format Example: QA98 ABCD 1234 5678 9123 45AB CDEF G.

Correspondent Banks

Standard Settlement Instructions (SSI) contain the list of correspondent banks of QATAR PETROCHEMICAL COMPANY (QAPCO), Q.P.J.S.C for each currency.

Payment Tracking

To track a SWIFT cross-border payment to or from QATAR PETROCHEMICAL COMPANY (QAPCO), Q.P.J.S.C, you need a UETR code, reference number, amount, payment date, and currency. This information is typically found in an MT103 form.

Disclaimers

We are doing our best to demystify cross-border payments, however TrackMySwift is not responsible for any delays or losses related to usage of the information and services from our web site. Please contact your banks to receive a safe advise. Country-specific payment instructions have been prepared based on Global Wires Payments Formatting Requirements Guide from J.P.Morgan.