Indicator that determines whether a SWIFT MT message prefix should be output ("X") or not (" "). The prefix generally consists of three lines: The SWIFT code of the sending bank, the message number, and the SWIFT code of the recipient bank.
The payee bank can either be entered directly as a format parameter (field SWIFT code of the payee bank) or it can be read from DME house bank data (indicator Payee in DME house bank data in format parameters). With logical/physical individual payments (field Payment medium type: Collective, logical, or physical individual payments of format parameters) the payee bank is filled with the SWIFT code of the payee's bank when both named options are not chosen. With collective payments, if you do not choose one of the named options the payee bank field is not filled.