Thursday, December 21, 2017

MT 940 Customer Statement Message

This message type is:
  • sent by an account servicing institution (reporting institution) to a financial institution (concentrating institution), which has been authorised by the account owner to receive it.
  • sent by an account servicing institution (reporting institution) to a financial institution account owner.
  • sent by an account servicing institution to a non-financial institution account owner or party authorised by the account owner to receive the information.
  • sent by a concentrating institution to a non-financial institution account owner or party authorised by the account owner to receive the information.
It is used to transmit detailed information about all entries booked to the account.

MT 940 Format Specifications

Status Tag Field Name Content/Options No.
M 20 Transaction Reference Number 16x 1
O 21 Related Reference 16x 2
M 25a Account Identification No letter option or P 3
M 28C Statement Number/Sequence Number 5n[/5n] 4
M 60a Opening Balance F or M 5
----->
O 61 Statement Line 6!n[4!n]2a[1!a]15d1!a3!c16x[//16x]
[34x]
6
O 86 Information to Account Owner 6*65x 7
-----|
M 62a Closing Balance (Booked Funds) F or M 8
O 64 Closing Available Balance (Available Funds) 1!a6!n3!a15d 9
----->
O 65 Forward Available Balance 1!a6!n3!a15d 10
-----|
O 86 Information to Account Owner 6*65x 11

MT 940 Network Validated Rules

  • C1 If field 86 is present in any occurrence of the repetitive sequence, it must be preceded by a field 61. In addition, if field 86 is present, it must be present on the same page (message) of the statement as the related field 61 (Error code(s): C24).
  • C2 The first two characters of the three character currency code in fields 60a, 62a, 64 and 65 must be the same for all occurrences of these fields (Error code(s): C27).

MT 940 Usage Rules

  • This message should only be used if the account owner(s) have authorised the financial institutions to transmit such information. It must be used according to agreed criteria.
  • Financial institutions which receive this message must not use the information for their own purposes.
  • It is important that amounts be identical to those of the original transaction. For identification purposes, deductions, for example, charges above and beyond those previously accounted for, shall appear separately with the appropriate code. They shall use the same TRN as the original transaction, or other suitable reference if no TRN is available.
  • Since the length of a SWIFT message is restricted to the maximum input message length, several messages may be required to accommodate all the information for one statement.
SWIFT Documentation
Created: 23-May-2016

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