Payment Purpose Code

The Payment Purpose Code is a mandatory field for certain types of payments. It defines the reason for the transaction and ensures compliance with local regulatory requirements.

When It Is Required:

Local MYR payments (within Malaysia)

SWIFT CNY payments (Chinese Yuan via SWIFT)

SWIFT payments to banks in Bahrain or the United Arab Emirates, regardless of currency

Purpose:

To provide the regulator or bank with the reason for the payment.

Helps avoid rejection of transactions due to missing or invalid purpose codes.

Ensures compliance with local and international payment regulations.