Message Explorer
Explore 27 MT and ISO 20022 messages field by field. Pick a message to see its business purpose, participants, structure, every field with whether it is mandatory, optional or conditional, scheme-specific rules, a valid and an invalid example, validation errors, related messages, and the processing and accounting implications. Where a message has several versions, pick a version to see which one applies. Base ISO 20022 messages are shown separately from scheme-specific implementations: the base message defines the structure, the scheme rules add or restrict elements for a rail.
Showing 27 messages. Pick one to see every field, the valid and invalid examples, and the processing and accounting implications.
MT103: Single Customer Credit Transfer
14 fields · Single version · Related messages listed below
MT103 carries a single customer credit transfer instruction from one bank to another through SWIFT. It tells the receiving bank to pay a named beneficiary a stated amount in a stated currency. Banks use it for cross-border customer payments, including trade, salary, invoice and personal transfers. The message holds ordering customer, beneficiary, value date, charges and remittance details needed for straight through processing.
Base message vs scheme implementation. This is a SWIFT MT (FIN) message. There is no single global scheme rulebook for MT messages: each bank and market practice defines its own format limits, cut-off times and usage rules on top of the SWIFT standard.
Sending and receiving participants. The sending participant is the bank holding the ordering customer account (the debtor agent). The receiving participant is the bank that will pay the beneficiary, either the beneficiary bank itself or the next bank in the correspondent chain.
Message structure. MT103 is a SWIFT MT (FIN) message made of blocks: header blocks 1 and 2, text block 4 with the tagged fields :20: to :77B:, and trailer block 5. Field :59a: names the beneficiary, :32A: carries value date, currency and amount, and :71A: states who pays the charges.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
:20: | Transaction Reference | M | A unique reference assigned by the sending bank to identify this payment through its whole life. It must not repeat for the same sender within the same business day in most banks. Operations teams use it to trace the payment, match confirmations and answer customer queries about status and value date. |
:23B: | Bank Operation Code | M | A four character code that tells the receiving bank how to handle the transfer. CRED means a normal credit transfer, SPAY means a SWIFT payment, SSTD means a standard payment and CRTS means a transfer related to a cheque. The code guides processing priority and the way charges and settlement are applied. |
:32A: | Value Date, Currency Code, Amount | M | The value date on which funds become available to the beneficiary, the three letter ISO currency code and the amount to be paid. For USD 25,000 on 5 November 2026 the field reads 261105USD25000,00. Value date, currency and amount must match the debit and the settlement instruction exactly. |
:33B: | Currency Code, Amount | O | The currency and amount in which the ordering customer instructed the payment, when that differs from the settlement currency in field 32A. It preserves the original instruction amount for reconciliation and customer reporting. It is used when a bank converts currency before sending the payment onward. |
:50a: | Ordering Customer | M | The customer who ordered the payment, identified by account number and name and address. Option K gives account, name and address in free text. Option F gives structured party details. Accurate ordering customer data is essential for sanctions screening, anti money laundering checks and beneficiary bank verification. |
:52a: | Ordering Institution | O | The financial institution that ordered the transfer when it is not the sender of the message. It is normally the bank holding the ordering customer account in a chain of banks. The field helps the receiver identify the true originator bank and route any return or query to the correct institution. |
:53a: | Sender's Correspondent | O | The account held by the sender with the receiver, or the correspondent bank through which settlement will occur. It tells the receiving bank where to debit the funds for this payment. Correct correspondent details prevent settlement delays and avoid the payment being held for account identification. |
:54a: | Receiver's Correspondent | O | The account held by the receiver with another bank, used when the receiver does not hold the sender account directly. It identifies the next bank in the settlement chain. The field is common in multi hop correspondent chains where funds pass through an intermediary before reaching the beneficiary bank. |
:57a: | Account With Institution | O | The bank where the beneficiary holds an account, when it is not the receiver of the MT103. It directs the receiving bank to forward the payment to the correct account with institution. Option A gives the BIC, option D gives name and address when no BIC is available. |
:59a: | Beneficiary Customer | M | The final recipient of the funds, identified by account number and name and address. Option A gives the account and BIC, option F gives structured name and address, and no letter option gives free text. The beneficiary bank credits this account on the value date after passing its own screening checks. |
:70: | Remittance Information | O | Free text information for the beneficiary explaining what the payment is for, such as an invoice number, contract reference or salary month. It is limited to four lines of 35 characters. Clear remittance information helps the beneficiary reconcile the receipt against open invoices and reduces queries to the sending bank. |
:71A: | Details of Charges | M | A three letter code stating who pays the transfer charges. OUR means the ordering customer pays all charges, BEN means the beneficiary pays all charges, and SHA means charges are shared between sender and receiver. The code drives fee deduction at each bank in the chain and must match the customer instruction. |
:72: | Sender to Receiver Information | O | Coded or free text instructions from the sender to the receiver, such as cover payment indicators, regulatory reporting codes or special handling notes. It can carry the phrase /INS/ for intermediary details or /ACC/ for account instructions. Operations teams read it before releasing the payment for further processing. |
:77B: | Regulatory Reporting | O | Regulatory information required by the authorities of the sending or receiving country, such as balance of payments codes or central bank reporting data. It is mandatory in some corridors and must follow local format rules. Missing regulatory data can cause the payment to be delayed or rejected by the receiving bank. |
Scheme-specific rules. MT103 is a SWIFT MT (FIN) message, not a base ISO 20022 message: there is no single global scheme rulebook, and each bank and market practice sets its own format limits and cut-off times on top of the SWIFT standard. Under SWIFT rules the ordering customer and beneficiary must be identified clearly enough for sanctions screening, and field :71A: must state OUR, BEN or SHA so every bank in the chain knows who bears the charges. Under CBPR+ new cross-border customer payments use pacs.008 instead of MT103, so MT103 now survives mainly on corridors not yet migrated.
Valid example. Meridian Bank London sends an MT103, reference MER1035521, for USD 25,000 value 5 November 2024 to Harbour Bank Singapore to pay Bright Logistics for invoice INV-1187. This is a pre-migration example, from before coexistence ended on 22 November 2025. Field :71A: is SHA, the beneficiary account is given in :59a:, and the payment settles on the value date.
Invalid example. An MT103 arrives with field :32A: showing a value date in the past and no beneficiary account in field :59a:. The receiving bank cannot identify where to credit the funds and rejects the message for repair (error: missing mandatory beneficiary account).
Validation errors.
- Missing mandatory field :59a: beneficiary customer: the receiving bank cannot identify the account to credit and rejects the message.
- Invalid value date in field :32A:: a past or non-business-day value date fails validation and the payment is repaired or rejected.
- Missing or invalid charge code in field :71A:: without OUR, BEN or SHA the banks in the chain cannot agree who pays the charges.
Related messages. MT202, pacs.008, MT900, pacs.002
Processing implications. The receiving bank validates the beneficiary, screens the ordering customer and beneficiary against sanctions lists, and checks the value date and charges code before crediting. A payment that fails screening is held for compliance review, and the sender is told the reason so it can correct and resend.
Accounting implications. The sending bank debits the ordering customer account and credits its nostro or settlement account on the value date. The receiving bank credits the beneficiary account and debits its nostro account with the sender. Charges are posted separately to the party named in field :71A:.
MT202: General Financial Institution Transfer
10 fields · Single version · Related messages listed below
MT202 carries a bank to bank transfer between financial institutions, with no customer beneficiary named in the message. Banks use it to move their own funds, settle a cover payment, fund a nostro account or pay another bank. It is the workhorse of interbank settlement and liquidity movement. The message holds sender, receiver, value date, amount and settlement account details needed to move bank funds cleanly.
Base message vs scheme implementation. This is a SWIFT MT (FIN) message. There is no single global scheme rulebook for MT messages: each bank and market practice defines its own format limits, cut-off times and usage rules on top of the SWIFT standard.
Sending and receiving participants. The sending participant is the financial institution moving its own funds (the debtor agent). The receiving participant is the beneficiary institution, or the next bank in the settlement chain that will pass the funds onward.
Message structure. MT202 is a SWIFT MT (FIN) message with header blocks 1 and 2, text block 4 with the tagged fields :20: to :72:, and trailer block 5. Field :58a: names the beneficiary institution, :32A: carries value date, currency and amount, and :21: links the transfer to a related customer payment when it is a cover.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
:20: | Transaction Reference | M | A unique reference assigned by the sending bank for this interbank transfer. It identifies the payment in the sender and receiver systems and in any related MT103 cover message. Operations teams use it to reconcile nostro movements, match settlement confirmations and investigate any value date or amount mismatch. |
:21: | Related Reference | O | The reference of a related message, most often the MT103 that this MT202 covers. Linking the cover to the customer payment lets the beneficiary bank and intermediaries match the two messages and reconcile the funds. It is essential in serial and cover payment models where customer and bank legs travel separately. |
:32A: | Value Date, Currency Code, Amount | M | The value date, ISO currency code and amount of the interbank transfer. For example 261105USD25000,00 means USD 25,000 value 5 November 2026. The amount must equal the customer payment it covers, after any agreed deductions. Settlement systems use this field to post the nostro debit and credit. |
:52a: | Ordering Institution | O | The financial institution ordering the transfer when it differs from the sender. In a cover payment this is the bank that sent the original customer instruction. It identifies the true source of funds in the chain and helps the receiver apply the correct nostro account and reporting treatment. |
:53a: | Sender's Correspondent | O | The correspondent account the sender uses for settlement with the receiver. It tells the receiver which account to debit. In nostro terms this is the account the sender holds with the receiver, or a third bank account named for settlement. Accurate data prevents settlement failures and manual repair. |
:54a: | Receiver's Correspondent | O | The correspondent account the receiver uses when it does not hold the sender account directly. It names the bank where the receiver expects to receive the funds. The field is used in chains where settlement passes through an intermediary bank before reaching the final receiving institution. |
:56a: | Intermediary Institution | O | An intermediary bank in the payment chain between sender and receiver. It is used when the sender has no direct account relationship with the receiver and must route through a third bank. The intermediary forwards the funds and the message, and its BIC or name and address must be accurate. |
:57a: | Account With Institution | O | The bank where the receiving institution holds the account to be credited. It directs the sender to the correct destination account for the funds. When the receiver is the account with institution, this field may be omitted, but in multi bank chains it prevents misrouting to the wrong branch or entity. |
:58a: | Beneficiary Institution | M | The financial institution that is the final recipient of the funds in this bank to bank transfer. Option A gives the BIC, option D gives name and address. The beneficiary institution credits its own account or uses the funds to settle the related customer payment on the stated value date. |
:72: | Sender to Receiver Information | O | Additional instructions from sender to receiver, such as cover payment linkage, settlement notes or handling codes. It can carry /BNF/ or /ACC/ coded information that guides the receiver. Operations teams check this field for any condition that changes normal straight through processing of the transfer. |
Scheme-specific rules. MT202 is a SWIFT MT (FIN) message, not a base ISO 20022 message: there is no single global scheme rulebook, and each bank sets its own settlement account and cut-off rules on top of the SWIFT standard. When MT202 is used as a cover, field :21: must carry the related MT103 reference so the beneficiary bank can match cover and customer legs. Under CBPR+ the cover model is replaced by pacs.009 COV in ISO 20022, so MT202 cover use survives only on corridors not yet migrated.
Valid example. Meridian Bank London sends an MT202, reference MER202118, for USD 25,000 value 5 November 2024 to Harbour Bank Singapore, with field :21: quoting the related MT103 reference MER1035521. This is a pre-migration example, from before coexistence ended on 22 November 2025. Harbour Bank matches the cover to the customer payment and releases the beneficiary credit.
Invalid example. An MT202 cover arrives with field :21: blank and an amount of USD 24,800 against a customer payment of USD 25,000. The beneficiary bank cannot match the cover to any MT103 and holds the funds as an unmatched receipt (error: cover amount mismatch).
Validation errors.
- Missing mandatory field :58a: beneficiary institution: the receiver cannot identify the final institution for the funds and rejects the message.
- Cover amount mismatch: when the MT202 amount differs from the related MT103 amount without an agreed charge deduction, the cover cannot be matched and is held.
- Missing related reference :21: on a cover payment: the beneficiary bank cannot link the cover to the customer payment and the funds sit unmatched.
Related messages. MT103, MT202 COV, pacs.009 COV, MT900
Processing implications. The receiving bank checks the beneficiary institution, matches the transfer to any related customer payment by reference and amount, and posts the nostro credit on the value date. An unmatched cover is held in a suspense account and investigated with the sender before it is applied or returned.
Accounting implications. The sending bank debits its nostro account with the receiver and credits its own settlement account. The receiving bank credits the nostro account of the sender and debits its settlement account when it applies the funds. A cover leg posts no customer account entries; the customer credit is posted from the related MT103 or pacs.008.
pacs.008: FI to FI Customer Credit Transfer
16 fields · Has version options · Related messages listed below
pacs.008 is the ISO 20022 message that replaces MT103 for customer credit transfers between financial institutions. It carries the full customer payment instruction in structured XML, with rich data for debtor, creditor, charges, remittance and settlement. Banks use it under CBPR+ for cross-border payments. Its structured fields improve screening, reconciliation and straight through processing compared with the free text MT format.
Base message vs scheme implementation. This is a base ISO 20022 message. The structure and fields below are the base definition; scheme-specific rules (CBPR+, SEPA, Fedwire, CHAPS, TIPS) may make an optional element mandatory, restrict a code set, or fix a version. Always check the scheme rulebook for the rail you are working on.
Sending and receiving participants. The sending participant is the debtor agent, the bank holding the debtor account. The receiving participant is the creditor agent, the bank holding the creditor account, with any intermediary agents in between.
Message structure. pacs.008 is an ISO 20022 XML message with a GroupHeader (GrpHdr) followed by one or more CreditTransferTransactionInformation blocks (CdtTrfTxInf). Each transaction block holds payment identification (PmtId), interbank settlement amount and date (IntrBkSttlmAmt, IntrBkSttlmDt), settlement information (SttlmInf), debtor and creditor agents and accounts, charges information (ChrgsInf), purpose (Purp) and remittance information (RmtInf).
Message version. Selected version: pacs.008.001.06. Field rules below are for the base message; scheme rules may add or restrict elements.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
GrpHdr | Group Header | M | The header of the message, holding the message identification, creation date and time, number of transactions and control sum. It identifies the file or message batch for tracking and reconciliation. A unique message identification prevents duplicate processing and lets the receiver confirm receipt of the complete group. |
PmtId | Payment Identification | M | The identification block holding instruction identification, end to end identification and transaction identification. End to end identification stays unchanged through the whole payment chain and lets the debtor and creditor track the payment. Instruction identification is unique per instructing agent and transaction. |
IntrBkSttlmAmt | Interbank Settlement Amount | M | The amount and currency settled between banks for this payment, for example USD 25,000. It is the amount the debtor agent transfers to the creditor agent. It may differ from the instructed amount when charges are deducted or currency conversion occurs, and settlement systems use it to post nostro entries. |
IntrBkSttlmDt | Interbank Settlement Date | O | The date on which settlement between banks takes place. It is the value date for the interbank leg and drives liquidity planning and nostro funding. The date must be a valid business day for the settlement currency and must match the date agreed with the correspondent or clearing system. |
SttlmInf | Settlement Information | M | Information about how settlement will occur, including the settlement method, settlement account and clearing system. Values include INDA for instructed agent settlement, INGA for instructing agent settlement and CLRG for clearing system settlement. It tells each bank which account and channel to use. |
Dbtr | Debtor | M | The customer who ordered the payment, with structured name, postal address and identification. Rich debtor data supports sanctions screening and anti money laundering checks. Under CBPR+ the debtor name and address must be complete, because truncated data can cause the payment to be stopped or returned. |
DbtrAcct | Debtor Account | O | The account of the debtor from which the payment is debited, identified by IBAN or other account identification. It links the payment to the correct customer account in the debtor agent system. Accurate account data is needed for debit posting, balance checks and customer statement reporting. |
DbtrAgt | Debtor Agent | M | The bank holding the debtor account and sending the payment instruction onward. It is identified by BIC and sometimes by name and address. The debtor agent is responsible for debiting the customer, applying charges, screening the payment and choosing the settlement route to the next bank. |
CdtrAgt | Creditor Agent | M | The bank holding the creditor account and receiving the payment for onward credit. It is identified by BIC and sometimes by name and address. The creditor agent screens the incoming payment, checks the creditor account and credits the beneficiary on the value date after its own controls pass. |
Cdtr | Creditor | M | The final beneficiary of the payment, with structured name, postal address and identification. The creditor agent credits this party on receipt of funds. Complete creditor data supports screening, fraud checks and beneficiary verification, and helps the creditor reconcile the receipt against expected payments. |
CdtrAcct | Creditor Account | O | The account of the creditor to be credited, identified by IBAN or other account identification. It tells the creditor agent exactly where to post the funds. A wrong account number is a common cause of returns and investigations, so banks validate the IBAN check digits before releasing the payment. |
ChrgsInf | Charges Information | O | Details of the charges applied to the payment, including the amount, currency, bearer and the agent that applied each charge. The bearer can be debtor, creditor, shared or following service level. Transparent charges data lets the creditor understand any deduction and supports gpi tracking of fees. |
Purp | Purpose | O | A coded purpose for the payment, such as SUPP for supplier payment, SALA for salary, or GDDS for goods. Purpose codes support regulatory reporting, sanctions screening and customer analytics. Banks map customer purpose descriptions to the ISO external purpose code list before sending the message. |
RmtInf | Remittance Information | O | Structured or unstructured information explaining what the payment is for, such as invoice numbers and dates. Structured remittance information lets the creditor reconcile automatically against open items. Unstructured text is limited in length and should carry only the key references the creditor needs. |
InstrForCdtrAgt | Instruction for Creditor Agent | O | An instruction from the debtor agent to the creditor agent, such as hold the payment for pickup or contact the creditor before crediting. It is free text with coded options. The creditor agent must read and follow it before crediting, because it can change the normal credit process. |
InstrForDbtrAgt | Instruction for Debtor Agent | O | An instruction for the debtor agent, normally carried from the original customer instruction. It can request a specific handling such as a telephone advice to the creditor. The debtor agent applies it before sending the payment onward and records it for audit and customer service. |
Scheme-specific rules. pacs.008 is a base ISO 20022 message: the structure and fields below are the base definition, and each scheme adds or restricts elements for its rail. Under CBPR+ the message must carry a UETR for end to end tracking, the debtor and creditor names and addresses must be fully structured, and the charge bearer may be DEBT, CRED or SHAR. Under SEPA SCT the charge bearer is SLEV only, the IBAN is mandatory for both accounts, and the 2025 implementation guides fix version pacs.008.001.08.
Valid example. Meridian Bank London sends a pacs.008.001.08 for USD 25,000 value 5 November 2026 to Harbour Bank Singapore, with a UETR, full structured debtor and creditor names and addresses, charge bearer SHAR, and remittance reference INV-1187. Harbour Bank screens the payment, credits Bright Logistics, and reports the status in a pacs.002.
Invalid example. A pacs.008 arrives under CBPR+ with no UETR and a truncated debtor address. The creditor agent cannot track the payment end to end or complete sanctions screening and rejects it (error: missing UETR).
Validation errors.
- Missing UETR under CBPR+: every pacs.008.001.08 must carry a Universally Unique Transaction Reference, and a message without one is rejected.
- Incomplete structured debtor or creditor address: CBPR+ requires full name and address data, and truncated party data causes rejection or repair.
- Invalid IBAN in the creditor account: a failed IBAN check digit means the creditor account cannot be validated and the payment is rejected.
Related messages. MT103, pacs.002, pacs.004, pain.001
Processing implications. The debtor agent debits the customer, screens the payment, and sends the pacs.008 to the next agent. Each agent validates the structure, screens the parties, and forwards or credits the payment. The creditor agent reports acceptance or rejection in a pacs.002, and a payment that cannot be credited is returned in a pacs.004.
Accounting implications. The debtor agent debits the debtor account and credits its nostro or settlement account for the interbank settlement amount. The creditor agent debits its nostro account and credits the creditor account. Charges are posted separately to the bearer named in the charges information, and the control sum in the group header must equal the sum of the transactions.
pacs.009 (Base): FI to FI Credit Transfer (Base)
12 fields · Has version options · Related messages listed below
Base message: pacs.009 is the base ISO 20022 Financial Institution Credit Transfer message. Under CBPR+ it has three implementation variants, each with its own explorer entry: pacs.009 Core (ordinary FI credit transfer), pacs.009 COV (cover payment) and pacs.009 ADV (advice of a cover payment). This entry describes the base message; use the variant entries for scheme-specific rules. pacs.009 is the ISO 20022 message that replaces MT202 for bank to bank credit transfers. It moves funds between financial institutions with no customer beneficiary named, for example to fund a nostro account, move bank liquidity, or settle a bank to bank obligation. It carries settlement amount, settlement date, debtor agent, creditor agent and any related customer payment reference. It is the interbank leg of a CBPR+ payment.
Base message vs scheme implementation. This is a base ISO 20022 message. The structure and fields below are the base definition; scheme-specific rules (CBPR+, SEPA, Fedwire, CHAPS, TIPS) may make an optional element mandatory, restrict a code set, or fix a version. Always check the scheme rulebook for the rail you are working on.
Sending and receiving participants. The sending participant is the debtor agent, the bank moving the funds. The receiving participant is the creditor agent, the bank receiving the funds, with any intermediary agents in between. No customer beneficiary is named in the base message.
Message structure. pacs.009 is an ISO 20022 XML message with a GroupHeader (GrpHdr) followed by one or more CreditTransferTransactionInformation blocks (CdtTrfTxInf). Each transaction block holds payment identification (PmtId), interbank settlement amount and date (IntrBkSttlmAmt, IntrBkSttlmDt), settlement information (SttlmInf), debtor and creditor agents, related payment information (RltdPmtInf) and purpose (Purp).
Message version. Selected version: pacs.009.001.06. Field rules below are for the base message; scheme rules may add or restrict elements.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
GrpHdr | Group Header | M | The header holding message identification, creation date and time, number of transactions and control sum. It identifies the message for tracking, duplicate detection and reconciliation. The message identification must be unique for the sender, and the control sum must equal the sum of the transaction amounts in the group. |
PmtId | Payment Identification | M | The identification block with instruction identification, end to end identification and transaction identification. End to end identification links this bank leg to the related customer payment. It lets operations teams match the pacs.009 cover to its pacs.008 and confirm that settlement and customer instruction agree. |
IntrBkSttlmAmt | Interbank Settlement Amount | M | The amount and currency settled between the debtor agent and the creditor agent, for example USD 25,000. Settlement systems post the nostro debit and credit from this amount. It must match the related customer payment amount after any agreed charges, or the cover will fail reconciliation at the creditor agent. |
IntrBkSttlmDt | Interbank Settlement Date | O | The date on which interbank settlement occurs. It drives nostro funding, liquidity planning and value dating of the related customer payment. The date must be a business day for the settlement currency and must be consistent with the settlement method and the clearing system cut off times. |
SttlmInf | Settlement Information | M | How settlement will occur, including settlement method and settlement account. INDA means settlement through the instructed agent, CLRG means through a clearing system, and COVE means a cover payment. The method tells each bank which account to debit and credit and which channel carries the funds. |
Dbtr | Debtor | O | The debtor in this bank to bank transfer, normally the debtor agent itself or the institution whose funds are moving. It is identified by name and BIC. The field distinguishes the legal debtor from the sending agent when a bank moves funds on behalf of another institution in the chain. |
DbtrAgt | Debtor Agent | M | The bank sending the funds and debiting its account for this transfer. It is identified by BIC. The debtor agent is responsible for funding the payment, choosing the settlement route and sending the message to the next agent in the chain on the stated settlement date. |
CdtrAgt | Creditor Agent | M | The bank receiving the funds and crediting its account. It is identified by BIC. The creditor agent checks the incoming funds against its expected receipts, screens the payment and uses the funds to settle the related customer payment or to fund its own account as instructed. |
Cdtr | Creditor | O | The creditor institution receiving the funds, normally the creditor agent itself. It is identified by name and BIC. The field confirms the final destination of the bank funds and supports reconciliation when the creditor agent and the creditor are different legal entities in a group. |
RltdRmtInf | Related Remittance Information | O | Remittance information related to the underlying customer payment, carried so the creditor agent can link the cover to the customer instruction. It can hold the end to end identification or the original remittance reference. Accurate linkage prevents the cover from being treated as an unmatched receipt. |
Purp | Purpose | O | A coded purpose for the bank transfer, such as a cover payment or a liquidity transfer. Purpose codes support reporting and internal accounting. Banks use them to classify nostro movements and to distinguish customer related covers from own account funding transfers in their ledgers. |
RltdPmtInf | Related Payment Information | O | Information about a related payment, most often the pacs.008 customer credit transfer that this pacs.009 covers. It can hold the related message identification and amount. The creditor agent uses it to match cover and customer legs and to release the customer payment only when both legs agree. |
Scheme-specific rules. pacs.009 is a base ISO 20022 message: the structure and fields below are the base definition, and each scheme adds its own rules for its rail. Under CBPR+ it has three implementation variants, each with its own explorer entry: pacs.009 Core for an ordinary FI transfer, pacs.009 COV for a cover payment carrying full customer details, and pacs.009 ADV for an advice of a cover payment. FedNow restricts pacs.009 to liquidity transfers only and forbids its use as a customer payment.
Valid example. Meridian Bank London sends a pacs.009.001.08 for USD 25,000 value 5 November 2026 to Harbour Bank Singapore to fund its nostro account, quoting the related funding instruction in RltdPmtInf. Harbour Bank credits the Meridian Bank nostro account on the value date.
Invalid example. A pacs.009 arrives with a settlement amount of USD 24,800 against a nostro funding instruction of USD 25,000 and no related payment information. The creditor agent cannot match the transfer to any funding instruction and holds the funds as an unmatched receipt (error: amount mismatch).
Validation errors.
- Missing mandatory creditor agent (CdtrAgt): the receiver cannot identify the bank to credit and rejects the message.
- Amount mismatch: when the settlement amount differs from the related instruction without an agreed charge deduction, the transfer cannot be matched.
- Missing related payment information on a cover: without the end to end identification the creditor agent cannot link the pacs.009 to its pacs.008.
Related messages. pacs.009 Core, pacs.009 COV, pacs.009 ADV, pacs.008, MT202
Processing implications. The debtor agent funds the transfer, screens the payment, and sends the pacs.009 to the next agent. The creditor agent matches the transfer to the related instruction by end to end identification and amount before applying the credit. An unmatched transfer is held in suspense and investigated with the sender.
Accounting implications. The debtor agent debits its nostro or settlement account and credits the settlement account for the transfer. The creditor agent credits its nostro account and debits its settlement account when it applies the funds. The base message posts no customer account entries.
pain.001: Customer Credit Transfer Initiation
15 fields · Has version options · Related messages listed below
pain.001 is the ISO 20022 message a corporate customer or payment initiator sends to its bank to instruct a credit transfer. It is the first message in the customer to bank payment chain. It carries payment information, debtor, creditor, amount, execution date and remittance details. Banks receive it through host to host files, APIs or payment hubs, validate it, and then create the interbank pacs.008 to execute the payment.
Base message vs scheme implementation. This is a base ISO 20022 message. The structure and fields below are the base definition; scheme-specific rules (CBPR+, SEPA, Fedwire, CHAPS, TIPS) may make an optional element mandatory, restrict a code set, or fix a version. Always check the scheme rulebook for the rail you are working on.
Sending and receiving participants. The sending participant is the initiating party, usually a corporate customer. The receiving participant is the debtor agent, the bank holding the debtor account, which validates the file and executes the payments.
Message structure. pain.001 is an ISO 20022 XML message with a GroupHeader (GrpHdr) followed by one or more PaymentInformation blocks (PmtInf). Each block groups payments sharing the same debtor, debtor account, execution date and charge bearer, and holds one or more CreditTransferTransactionInformation entries (CdtTrfTxInf) with creditor, creditor account, amount and remittance information.
Message version. Selected version: pain.001.001.03. Field rules below are for the base message; scheme rules may add or restrict elements.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
GrpHdr | Group Header | M | The header with message identification, creation date and time, number of transactions, control sum and initiating party. It identifies the file for the bank and the customer. The bank uses it to acknowledge receipt, detect duplicate files and reconcile the total amount against the sum of the individual payments. |
PmtInf | Payment Information | M | A block grouping payments that share the same debtor, debtor account, execution date and charges bearer. One pain.001 file can hold many payment information blocks. Grouping by common attributes simplifies validation and lets the bank process all payments in the block under one debit instruction. |
PmtInfId | Payment Information Identification | M | A unique identification for the payment information block, assigned by the customer. It lets the customer and the bank refer to the whole block in status reports and queries. It must be unique for the initiating party so the bank can detect a duplicate file or block. |
PmtMtd | Payment Method | M | The method used for the payment, normally TRF for a credit transfer, TRA for a transfer advice or CHK for a cheque. TRF is the standard value for a bank credit transfer. The method tells the bank which processing channel and clearing system to use for the payments in the block. |
ReqdExctnDt | Requested Execution Date | M | The date on which the customer asks the bank to execute the payment. The bank checks it against cut off times and business days and may move it to the next business day if it falls on a holiday. It drives value dating and the timing of the debit to the customer account. |
Dbtr | Debtor | M | The customer ordering the payment, with name, postal address and identification. The bank matches the debtor to its customer records and checks signing authority. Complete debtor data supports sanctions screening and lets the bank report the payment correctly on the customer statement. |
DbtrAcct | Debtor Account | M | The account from which the payment is debited, identified by IBAN or other account identification. The bank checks that the account exists, has sufficient funds and is authorised for the payment type. A wrong account number is a common cause of file rejection at validation stage. |
DbtrAgt | Debtor Agent | M | The bank holding the debtor account, identified by BIC. It is the bank receiving the pain.001 file. The debtor agent validates the file, screens the payments and creates the interbank messages needed to move the funds to each creditor agent. |
CdtrAgt | Creditor Agent | O | The bank holding the creditor account, identified by BIC when known. The customer may leave it blank and let the debtor agent derive it from the creditor IBAN. Accurate creditor agent data speeds routing and avoids the payment being sent to the wrong bank or held for repair. |
Cdtr | Creditor | M | The beneficiary of the payment, with name, postal address and identification. The bank screens the creditor against sanctions and fraud lists before execution. Complete creditor data reduces the chance of the payment being stopped at the creditor agent for missing beneficiary information. |
CdtrAcct | Creditor Account | M | The account to be credited, identified by IBAN or other account identification. The bank validates the IBAN format and check digits before accepting the file. A valid IBAN does not guarantee the account exists, but it prevents many format errors that cause returns. |
Amt | Amount | M | The amount and currency of the individual credit transfer, for example EUR 10,000. It is the amount the creditor receives before any charges. The sum of the amounts in a payment information block must equal the control sum in the group header or the bank rejects the file. |
ChrgBr | Charge Bearer | O | Who pays the charges, using DEBT for debtor, CRED for creditor, SHAR for shared or SLEV for service level. The value drives fee deduction and must match the agreement between the customer and the bank. It is carried forward into the pacs.008 that the bank creates for the interbank leg. |
RmtInf | Remittance Information | O | Information explaining the payment, such as invoice numbers, in structured or unstructured form. Structured remittance information lets the creditor reconcile automatically. Customers should keep it concise and use the creditor agreed format so the creditor system can match it without manual work. |
Purp | Purpose | O | A coded purpose for the payment, such as SUPP for supplier payment or SALA for salary. Purpose codes support regulatory reporting and help the bank apply the correct screening and pricing. The customer selects the code that best describes the underlying commercial reason for the payment. |
Scheme-specific rules. pain.001 is a base ISO 20022 message: the structure and fields below are the base definition, and each scheme adds its own rules for its rail. Under SEPA SCT the IBAN is mandatory for debtor and creditor accounts, the charge bearer is SLEV only, and the file must follow the SEPA implementation guide for the country of the debtor bank. Banks may also enforce their own file size limits, cut-off times and duplicate file checks on top of the scheme rules.
Valid example. Northgate Trading sends a pain.001 file to Meridian Bank London with one payment information block for 48 supplier payments totalling EUR 120,000, requested execution date 6 November 2026, charge bearer SLEV. The bank validates the file, debits the Northgate account, and reports acceptance in a pain.002.
Invalid example. A pain.001 file arrives with a control sum of EUR 120,000 but payment amounts totalling EUR 121,500, and one creditor IBAN that fails its check digit. The bank rejects the whole file for repair (error: control sum mismatch).
Validation errors.
- Control sum mismatch: the sum of the payment amounts in a block must equal the control sum in the group header, or the bank rejects the file.
- Invalid IBAN in a creditor account: a failed IBAN check digit means the creditor account cannot be validated and the item is rejected.
- Requested execution date in the past: a date that has already passed cannot be executed without an explicit instruction, so the block is rejected or moved.
Related messages. pain.002, pacs.008, MT101, camt.053
Processing implications. The bank validates the file structure, debtor account, balance and signing authority, then screens each payment before execution. Failed items are reported in a pain.002 so the customer can correct and resend only those items, while valid items proceed to settlement as pacs.008 messages.
Accounting implications. Each executed payment posts a debit to the debtor account on the execution date and a corresponding credit to the settlement or nostro account. Charges are posted separately to the debtor account. Rejected items post nothing, so the ledger only reflects payments that passed validation and were executed.
pain.002: Customer Payment Status Report
12 fields · Has version options · Related messages listed below
pain.002 is the ISO 20022 message a bank sends to its customer to report the status of payments instructed in a pain.001 file. It tells the customer whether each payment was accepted, rejected, pending or completed, with reason codes for any failure. Corporates use it to reconcile payment files, fix rejected items and confirm salaries and supplier payments reached the bank.
Base message vs scheme implementation. This is a base ISO 20022 message. The structure and fields below are the base definition; scheme-specific rules (CBPR+, SEPA, Fedwire, CHAPS, TIPS) may make an optional element mandatory, restrict a code set, or fix a version. Always check the scheme rulebook for the rail you are working on.
Sending and receiving participants. The sending participant is the bank that received the pain.001 file (the debtor agent). The receiving participant is the customer that sent the file (the initiating party), which uses the report to reconcile its payments.
Message structure. pain.002 is an ISO 20022 XML message with a GroupHeader (GrpHdr) followed by OriginalGroupInformationAndStatus (OrgnlGrpInfAndSts) for the whole file, then OriginalPaymentInformationAndStatus (OrgnlPmtInfAndSts) per block and TransactionInformationAndStatus (TxInfAndSts) per payment. Each status block carries a status code and, where needed, StatusReasonInformation (StsRsnInf).
Message version. Selected version: pain.002.001.03. Field rules below are for the base message; scheme rules may add or restrict elements.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
GrpHdr | Group Header | M | The header with message identification, creation date and time and initiating party. It identifies the status report and links it to the bank that produced it. The customer uses it to match the report to its own systems and to detect a duplicate or out of sequence status report. |
OrgnlGrpInf | Original Group Information | M | Information about the original pain.001 group, including its message identification and the group status. It tells the customer which file this report refers to. The group status can be accepted, partially accepted or rejected, and it summarises the outcome for the whole file. |
OrgnlGrpInfAndSts | Original Group Information and Status | M | The original group reference plus the status and any status reason for the whole group. It carries codes such as ACCP for accepted, RJCT for rejected or PART for partially accepted. The customer reads this first to know whether the file as a whole passed validation. |
OrgnlPmtInfAndSts | Original Payment Information and Status | O | Status information for one payment information block from the original file, with its identification and status. It lets the customer see which blocks were accepted and which were rejected. A block can be rejected for a bad execution date or a missing debtor account while other blocks succeed. |
OrgnlTxRef | Original Transaction Reference | O | Reference data from the original payment, such as amount, currency, debtor and creditor, copied into the status report. It helps the customer match the status to the correct payment in its own system when the payment identification alone is not enough to identify the item. |
TxInfAndSts | Transaction Information and Status | O | Status information for a single transaction, with its identification, status and reason. It is the most detailed level of the report. The customer uses it to identify exactly which supplier or salary payment failed and why, so it can correct and resend only that item. |
StsRsnInf | Status Reason Information | O | The reason for a status, with a coded reason and additional free text. Codes include NARR for narrative, DUPL for duplicate, AC01 for wrong account number and CUST for a customer requested rejection. Clear reason codes let the customer fix the root cause instead of guessing why the payment failed. |
NbOfTxsPerSts | Number of Transactions per Status | O | A count of transactions in each status, for example 48 accepted and 2 rejected. It gives the customer a quick summary of the file outcome without reading every transaction. Reconciliation teams compare the counts with their own file totals to confirm no transaction was lost. |
OrgnlPmtInfId | Original Payment Information Identification | O | The identification of the original payment information block, copied from the pain.001 file. It links the status block to the customer block. The customer uses it to update the status of all payments in that block in its enterprise resource planning system. |
OrgnlInstrId | Original Instruction Identification | O | The instruction identification of the original payment, copied from the pain.001 file. It links the status to one customer instruction. It is the key the customer system uses to mark a single payment as accepted, rejected or pending in its own ledger. |
OrgnlEndToEndId | Original End to End Identification | O | The end to end identification of the original payment, copied from the pain.001 file. It stays unchanged through the payment chain and lets the customer, the bank and the creditor all refer to the same payment. It is useful when a customer queries a payment by its own reference. |
ChrgsInf | Charges Information | O | Charges applied to the payment, when the bank reports them in the status message. It can show the amount and bearer of any fee deducted. The customer uses it to reconcile bank charges against its own fee schedule and to query any charge that does not match the agreed pricing. |
Scheme-specific rules. pain.002 is a base ISO 20022 message: the structure and fields below are the base definition, and each scheme adds its own rules for its rail. Under SEPA the status report must use the SEPA reason codes for rejected payments, and the bank must report the group status before the customer can treat the file as accepted. Banks may also agree bilateral reporting times and file delivery channels with each customer on top of the scheme rules.
Valid example. Meridian Bank London sends a pain.002 to Northgate Trading for file NGT-20261105: group status ACCP for 47 payments and one transaction status RJCT with reason AC01 for a wrong creditor account number. Northgate corrects the one account number and resends only that payment.
Invalid example. A pain.002 arrives quoting an original group identification that matches no file the customer ever sent. The customer cannot reconcile the report and must query the bank (error: unknown original group reference).
Validation errors.
- Unknown original group reference: a status report that quotes a pain.001 message identification the customer never sent cannot be matched and must be investigated.
- Missing transaction status for a rejected item: a RJCT status with no reason code leaves the customer unable to fix the payment.
- Status code outside the allowed set: a code other than ACCP, RJCT, PDNG or PART fails validation and the report is rejected by the customer system.
Related messages. pain.001, pacs.002, camt.053, pacs.008
Processing implications. The customer system matches the report to its original file by group identification, updates each payment to accepted, rejected or pending, and queues rejected items for correction. A partially accepted file needs item level tracking so one bad payment does not block the rest of the file.
Accounting implications. A pain.002 posts no accounting entries itself; it only reports the status of payments instructed in the pain.001. The customer ledger is updated from the report: accepted payments are marked as sent, rejected payments stay open as unpaid, and the bank statement in camt.053 remains the record of what actually posted.
pacs.002: FI to FI Payment Status Report
12 fields · Has version options · Related messages listed below
pacs.002 is the ISO 20022 message one financial institution sends to another to report the status of a payment instruction it received. It is the interbank equivalent of pain.002. It tells the sending bank whether a pacs.008 or pacs.009 was accepted, rejected, pending or completed, with reason codes for failures. Banks use it for gpi tracking, reconciliation and exception handling, so the sender always knows what happened to its payment.
Base message vs scheme implementation. This is a base ISO 20022 message. The structure and fields below are the base definition; scheme-specific rules (CBPR+, SEPA, Fedwire, CHAPS, TIPS) may make an optional element mandatory, restrict a code set, or fix a version. Always check the scheme rulebook for the rail you are working on.
Sending and receiving participants. The sending participant is the bank reporting the status, usually the creditor agent or an intermediary agent. The receiving participant is the bank that sent the original payment, usually the debtor agent.
Message structure. pacs.002 is an ISO 20022 XML message with a GroupHeader (GrpHdr) followed by OriginalGroupInformationAndStatus (OrgnlGrpInfAndSts) and one or more TransactionInformationAndStatus blocks (TxInfAndSts). Each transaction block carries the original instruction, end to end and transaction identifications, the transaction status (TxSts) and StatusReasonInformation (StsRsnInf) where needed.
Message version. Selected version: pacs.002.001.03. Field rules below are for the base message; scheme rules may add or restrict elements.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
GrpHdr | Group Header | M | The header with message identification, creation date and time and instructing agent. It identifies the status report for tracking and duplicate detection. The receiving bank uses it to match the report to its own records and to confirm the report came from the expected agent in the chain. |
OrgnlGrpInfAndSts | Original Group Information and Status | O | Reference to the original message group plus its status and reason. It tells the sender whether the whole group was accepted, rejected or partially accepted. The group status gives a fast summary before the bank reads the detailed transaction statuses below it. |
TxInfAndSts | Transaction Information and Status | O | Status information for a single transaction, with its identification, status and reason. It is the core of the message for exception handling. The sender uses it to know exactly which payment failed, at which stage, and what action to take next with its customer. |
OrgnlInstrId | Original Instruction Identification | M | The instruction identification from the original payment message, copied into the status report. It links the status to the sender instruction. The sender system uses it to update the payment record from pending to accepted, rejected or completed without manual matching. |
OrgnlEndToEndId | Original End to End Identification | O | The end to end identification from the original payment, copied into the status report. It stays unchanged through the chain and lets all banks and the customer refer to the same payment. It is the key used in gpi tracking to follow the payment across every bank. |
OrgnlTxId | Original Transaction Identification | O | The transaction identification from the original payment, assigned by the instructing agent. It provides a third matching key alongside instruction and end to end identification. Banks use it when instruction identification alone is not unique across their systems. |
TxSts | Transaction Status | M | The status of the transaction, using codes such as ACCP for accepted, RJCT for rejected, PDNG for pending, ACSC for accepted settlement completed and ACCC for accepted settlement completed. The code drives the next action, whether that is to wait, to investigate or to inform the customer. |
StsRsnInf | Status Reason Information | O | The reason for the status, with a coded reason and additional text. Codes include AC01 for wrong account number, AM05 for duplicate payment and NARR for a narrative reason. The sender reads the reason first when a payment is rejected, because it tells it what to fix. |
OrgnlIntrBkSttlmAmt | Original Interbank Settlement Amount | O | The interbank settlement amount from the original payment, copied into the status report. It confirms which payment the status refers to when several payments have similar references. It also helps the sender reconcile the status against its nostro and settlement records. |
OrgnlIntrBkSttlmDt | Original Interbank Settlement Date | O | The interbank settlement date from the original payment, copied into the status report. It confirms the value date of the payment being reported on. The sender uses it to check that the status relates to the correct value date when it sends many payments on different dates. |
ChrgsInf | Charges Information | O | Charges applied by the reporting agent, with amount, currency and bearer. It lets the sender see any fee deducted by an intermediary or the creditor agent. Transparent charges data supports gpi tracking and helps the sender explain any difference between the instructed and received amount. |
AccptncDtTm | Acceptance Date Time | O | The date and time when the reporting agent accepted the payment for processing. It is a key timestamp for gpi tracking and for measuring processing speed. The sender compares it with its own sending time to see how long the next bank took to accept the instruction. |
Scheme-specific rules. pacs.002 is a base ISO 20022 message: the structure and fields below are the base definition, and each scheme adds its own rules for its rail. Under CBPR+ a pacs.002 must be sent for a rejected payment with a standard reason code, and the UETR must be quoted so the status can be tracked end to end in gpi. Under CHAPS and TARGET T2 the status report follows the clearing system timetable, and settlement completed is reported as ACSC or ACCC.
Valid example. Harbour Bank Singapore sends a pacs.002 to Meridian Bank London for the pacs.008 with end to end identification MER-20261105-1187: transaction status ACCP, accepted for processing. Meridian Bank updates its tracker and tells Bright Logistics the payment is on its way.
Invalid example. A pacs.002 arrives with transaction status RJCT but no status reason information and no original end to end identification. The sender cannot tell which payment failed or why, and must query the reporting bank (error: missing status reason).
Validation errors.
- Missing status reason on a rejection: a RJCT status with no StsRsnInf leaves the sender unable to fix the payment.
- Unknown original instruction identification: a status that quotes an OrgnlInstrId the sender never sent cannot be matched to any payment.
- Invalid transaction status code: a TxSts value outside the allowed set (ACCP, RJCT, PDNG, ACSC, ACCC) fails validation.
Related messages. pacs.008, pacs.009 (Base), pain.002, pacs.004
Processing implications. The sender matches the report to its payment by instruction and end to end identification, updates the payment record, and acts on the status: wait on PDNG, investigate on RJCT, and confirm completion on ACSC or ACCC. Rejected payments are corrected and resent, or the customer is told the payment cannot be made.
Accounting implications. A pacs.002 posts no accounting entries itself; it only reports status. The sender keeps the original payment as pending until an ACSC or ACCC status confirms settlement, and reverses or rebooks the entry only when a pacs.004 return arrives for the same payment.
pacs.004: Payment Return
12 fields · Has version options · Related messages listed below
pacs.004 is the ISO 20022 message used to return a payment that was already settled but cannot be credited to the beneficiary. It reverses the original credit transfer and sends funds back to the debtor agent. Banks use it when the creditor account is closed, the account number is wrong, or the creditor agent cannot apply the funds. It carries the original reference and a coded return reason.
Base message vs scheme implementation. This is a base ISO 20022 message. The structure and fields below are the base definition; scheme-specific rules (CBPR+, SEPA, Fedwire, CHAPS, TIPS) may make an optional element mandatory, restrict a code set, or fix a version. Always check the scheme rulebook for the rail you are working on.
Sending and receiving participants. The sending participant is the bank returning the payment, usually the creditor agent that could not credit the beneficiary. The receiving participant is the bank that sent the original payment, usually the debtor agent.
Message structure. pacs.004 is an ISO 20022 XML message with a GroupHeader (GrpHdr) followed by one or more TransactionInformation blocks. Each block carries the original instruction, end to end and transaction identifications, the returned interbank settlement amount and date (RtrdIntrBkSttlmAmt, RtrdIntrBkSttlmDt), ReturnReasonInformation (RtrRsnInf) and the original transaction reference (OrgnlTxRef).
Message version. Selected version: pacs.004.001.02. Field rules below are for the base message; scheme rules may add or restrict elements.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
GrpHdr | Group Header | M | The header with message identification, creation date and time, number of transactions and control sum. It identifies the return message for tracking and reconciliation. The message identification must be unique, and the control sum must equal the sum of the returned amounts in the group. |
OrgnlGrpInf | Original Group Information | O | Information about the original payment message, including its message identification and creation date. It links the return to the original pacs.008 or pacs.009. The debtor agent uses it to find the original payment record and match the return against it in its systems. |
OrgnlInstrId | Original Instruction Identification | M | The instruction identification of the original payment, copied into the return. It is the primary key the debtor agent uses to find the original payment. Without an accurate original instruction identification the return cannot be matched automatically and will need manual investigation. |
OrgnlEndToEndId | Original End to End Identification | O | The end to end identification of the original payment, copied into the return. It stays unchanged through the chain and lets the customer and all banks refer to the same payment. It is the reference the debtor shows the customer when explaining why the payment came back. |
OrgnlTxId | Original Transaction Identification | O | The transaction identification of the original payment, assigned by the instructing agent. It gives the debtor agent a further matching key. Banks use it to confirm the return relates to the correct transaction when instruction identification alone could match more than one item. |
RtrdIntrBkSttlmAmt | Returned Interbank Settlement Amount | M | The amount and currency being returned to the debtor agent, for example USD 25,000. It is normally the full original settlement amount, but it can be less if charges were deducted. Settlement systems use it to post the nostro credit back to the debtor agent account. |
RtrdIntrBkSttlmDt | Returned Interbank Settlement Date | O | The date on which the returned funds are settled back to the debtor agent. It is the value date for the return leg. The debtor agent uses it to plan liquidity and to tell the customer when the funds will be available again in the debtor account. |
RtrRsnInf | Return Reason Information | M | The reason for the return, with a coded reason and additional text. Codes include AC01 for wrong account number, AC04 for closed account, BE04 for missing creditor address and MS03 for a reason not specified. The reason tells the debtor what to fix before resending the payment. |
OrgnlTxRef | Original Transaction Reference | O | Reference data from the original payment, such as amount, currency, debtor and creditor, copied into the return. It helps the debtor agent match the return when the identification fields alone are not enough. It also gives the customer service team the details to explain the return. |
RtrdInstdAmt | Returned Instructed Amount | O | The instructed amount being returned, when it differs from the returned interbank settlement amount. It shows the original customer amount before any charges. The debtor agent compares it with the returned settlement amount to work out what charges were deducted on the return journey. |
CdtrAgt | Creditor Agent | O | The creditor agent that is returning the payment, identified by BIC. It is the bank that could not credit the beneficiary and is sending the funds back. The debtor agent uses it to confirm the return came from the expected bank in the chain and not from an unrelated party. |
DbtrAgt | Debtor Agent | O | The debtor agent receiving the returned funds, identified by BIC. It is the bank that sent the original payment. On receipt it credits the debtor account, informs the customer of the return reason and offers to correct the details and resend the payment if the customer wishes. |
Scheme-specific rules. pacs.004 is a base ISO 20022 message: the structure and fields below are the base definition, and each scheme adds its own rules for its rail. Under SEPA a return must use one of the SEPA return reason codes, and the full amount must be returned without deducting charges. Under CBPR+ the return must quote the original UETR so the debtor agent can match it, and the return reason must come from the ISO return reason code list.
Valid example. Harbour Bank Singapore sends a pacs.004.001.09 to Meridian Bank London returning USD 25,000 for the pacs.008 with end to end identification MER-20261105-1187, reason AC04, closed creditor account. Meridian Bank credits the debtor and tells Bright Logistics the payment was returned.
Invalid example. A pacs.004 arrives returning USD 24,950 for an original payment of USD 25,000, with reason MS03 (reason not specified) and no original end to end identification. The debtor agent cannot match the return or explain it to the customer (error: return amount mismatch).
Validation errors.
- Return amount mismatch: a returned amount that differs from the original settlement amount without an agreed charge deduction cannot be matched automatically.
- Missing return reason: a pacs.004 with no RtrRsnInf leaves the debtor unable to tell the customer why the payment came back.
- Unknown original instruction identification: a return that quotes an OrgnlInstrId the debtor agent never sent cannot be matched and needs manual investigation.
Related messages. pacs.008, pacs.002, camt.056, MT103
Processing implications. The debtor agent matches the return to the original payment by instruction and end to end identification, credits the debtor account, and informs the customer of the return reason. The customer corrects the beneficiary details and resends, or accepts that the payment cannot be made.
Accounting implications. The return posts a credit to the debtor account and a debit to the nostro or settlement account for the returned amount. The original debit is not deleted from the ledger; the return is a separate entry, so the audit trail shows both the payment and its return. Any charges deducted on the return journey are posted separately.
camt.053: Bank to Customer Statement
12 fields · Has version options · Related messages listed below
camt.053 is the ISO 20022 message a bank sends to its customer as an account statement. It lists all entries posted to an account over a statement period, with opening and closing balances. Corporates use it for daily reconciliation, matching each bank entry to their own ledger. It carries booking date, value date, amount, currency, debtor, creditor and remittance data for every transaction.
Base message vs scheme implementation. This is a base ISO 20022 message. The structure and fields below are the base definition; scheme-specific rules (CBPR+, SEPA, Fedwire, CHAPS, TIPS) may make an optional element mandatory, restrict a code set, or fix a version. Always check the scheme rulebook for the rail you are working on.
Sending and receiving participants. The sending participant is the bank holding the account (the account servicer). The receiving participant is the account owner, usually a corporate customer, which loads the statement into its reconciliation system.
Message structure. camt.053 is an ISO 20022 XML message with a GroupHeader (GrpHdr) followed by one or more Statement blocks (Stmt). Each statement holds the account (Acct), opening and closing balances (Bal), and one Entry (Ntry) per posting, each with booking date, value date, amount, credit debit indicator, status and entry details (NtryDtls).
Message version. Selected version: camt.053.001.02. Field rules below are for the base message; scheme rules may add or restrict elements.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
GrpHdr | Group Header | M | The header with message identification, creation date and time and the account owner. It identifies the statement for tracking and duplicate detection. The customer system uses it to confirm it received the correct statement for the correct account and period before loading the entries. |
Stmt | Statement | M | The statement block holding the account, statement identification, creation date and time and the period covered. One camt.053 can hold several statements for different accounts. The statement identification must be unique so the customer can detect a missing or duplicate statement in sequence. |
Acct | Account | M | The account the statement covers, identified by IBAN or other account identification, with the currency and the account owner name. It tells the customer system which ledger account to reconcile. A statement must never be loaded against the wrong account, so this field is checked first. |
Bal | Balance | M | Balance information for the account, including opening balance, closing balance and sometimes interim balances. Each balance carries a type, amount, currency and date. The customer compares the closing balance with its own ledger to confirm that all entries were received and posted correctly. |
Ntry | Entry | O | One entry in the statement, representing a single debit or credit to the account. It carries booking date, value date, amount, currency, status and references. A statement can hold many entries. The customer matches each entry to an expected payment or receipt in its own system. |
BookgDt | Booking Date | M | The date on which the entry was booked to the account in the bank system. It may differ from the value date when an entry is booked late or back valued. Reconciliation teams use the booking date to know when the entry appeared on the statement and to track late postings. |
ValDt | Value Date | O | The date on which the funds become available for a credit or are taken for a debit. It drives interest calculation and cash flow forecasting. A value date in the future means the funds are not yet available, and the customer must not treat the entry as cleared cash. |
Amt | Amount | M | The amount and currency of the entry, with a credit or debit indicator. For example a credit of USD 25,000 appears as a positive amount with a credit indicator. The customer sums the amounts to check the movement from opening to closing balance and to spot any missing entry. |
CdtDbtInd | Credit Debit Indicator | M | A code showing whether the entry is a credit or a debit to the account. CRDT means money was added, DBIT means money was taken. It is essential for reconciliation, because the same amount can be a receipt or a payment depending on this indicator alone. |
Sts | Status | M | The status of the entry, normally BOOK for a booked entry or PDNG for a pending entry. BOOK means the entry is final and included in the balance. PDNG means the entry is expected but not yet final, and the customer should not reconcile against it until it becomes booked. |
NtryDtls | Entry Details | O | Detailed information about the entry, including transaction details, debtor, creditor, remittance information and charges. It gives the customer the data needed to match the entry to an invoice or payment instruction. Rich entry details reduce manual reconciliation work sharply. |
AddtlNtryInf | Additional Entry Information | O | Free text additional information about the entry, such as the bank reference or a narrative description. It can carry the end to end identification or the remittance reference. The customer uses it as a fallback matching key when structured details do not match automatically. |
Scheme-specific rules. camt.053 is a base ISO 20022 message: the structure and fields below are the base definition, and each scheme adds its own rules for its rail. Under CBPR+ the statement must carry the full structured remittance data for each entry so the customer can reconcile automatically. Banks agree the statement frequency and delivery channel bilaterally with each customer, and daily statements must balance: opening balance plus entries must equal the closing balance.
Valid example. Meridian Bank London sends a camt.053.001.08 daily statement to Northgate Trading for account GB29NWBK60161331926819, period 5 November 2026: opening balance EUR 120,000, 48 entries including the EUR 25,000 supplier payment, closing balance EUR 95,000. Northgate matches all 48 entries to its ledger.
Invalid example. A camt.053 arrives with an opening balance of EUR 120,000, entries totalling EUR 25,000, and a closing balance of EUR 100,000. The statement does not balance and the customer system rejects the file for investigation (error: statement out of balance).
Validation errors.
- Statement out of balance: opening balance plus entries must equal the closing balance, or the statement is rejected.
- Missing mandatory balance: a statement with no opening or closing balance cannot be reconciled and is rejected.
- Duplicate statement identification: a statement whose message identification repeats an earlier statement is treated as a duplicate and ignored.
Related messages. camt.052, camt.054, MT940, pain.002
Processing implications. The customer system loads the statement, matches each entry to its ledger by amount, value date and remittance reference, and flags unmatched entries for investigation. A statement that fails to balance is held and queried with the bank rather than loaded.
Accounting implications. A camt.053 is a report, not a posting instruction: it reflects entries already posted to the account. The customer ledger is reconciled against it, and any entry on the statement that is missing from the ledger, or in the ledger but missing from the statement, is an unreconciled item to investigate.
camt.056: FI to FI Payment Cancellation Request
12 fields · Has version options · Related messages listed below
camt.056 is the ISO 20022 message one bank sends to another to request cancellation of a payment instruction it already sent. It is used when the customer asks to stop a payment, when the payment was sent in error, or when fraud is suspected. It carries the original payment reference and a coded cancellation reason. Cancellation is not guaranteed once the payment has been executed or settled.
Base message vs scheme implementation. This is a base ISO 20022 message. The structure and fields below are the base definition; scheme-specific rules (CBPR+, SEPA, Fedwire, CHAPS, TIPS) may make an optional element mandatory, restrict a code set, or fix a version. Always check the scheme rulebook for the rail you are working on.
Sending and receiving participants. The sending participant is the bank that sent the original payment and now wants it stopped, usually the debtor agent. The receiving participant is the bank holding the payment, usually the creditor agent or an intermediary agent.
Message structure. camt.056 is an ISO 20022 XML message with an Assignment block (Assgnmt) followed by an Underlying block (Undrlyg) that identifies the original payment. It carries the original instruction, end to end and transaction identifications, the original settlement amount and date, CancellationReasonInformation (CxlRsnInf) and, where needed, a Case block for the investigation.
Message version. Selected version: camt.056.001.01. Field rules below are for the base message; scheme rules may add or restrict elements.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
Assgnmt | Assignment | M | The assignment block holding the identification of the cancellation request, the assigner and the assignee. It identifies the request for tracking and audit. The assigner is the bank requesting cancellation and the assignee is the bank that received the original payment instruction. |
Undrlyg | Underlying | M | The underlying transaction block holding the original payment reference and details. It tells the receiving bank exactly which payment the cancellation refers to. It carries the original instruction identification, end to end identification and transaction identification from the pacs.008 or pacs.009. |
OrgnlGrpInf | Original Group Information | O | Information about the original message group, including its message identification and creation date. It helps the receiving bank find the original message in its archive. Accurate group information speeds the search, especially when the bank processes many payments from the same sender each day. |
OrgnlInstrId | Original Instruction Identification | M | The instruction identification of the original payment, copied into the cancellation request. It is the primary key the receiving bank uses to find the payment. A wrong instruction identification means the bank may cancel the wrong payment or fail to find the payment at all. |
OrgnlEndToEndId | Original End to End Identification | O | The end to end identification of the original payment, copied into the cancellation request. It stays unchanged through the chain and lets all parties refer to the same payment. It is the reference the customer uses when asking the bank to stop a payment it already instructed. |
OrgnlTxId | Original Transaction Identification | O | The transaction identification of the original payment, assigned by the instructing agent. It gives the receiving bank a further matching key. Banks use it to confirm the cancellation refers to the correct transaction when instruction identification alone is not unique in their systems. |
OrgnlIntrBkSttlmAmt | Original Interbank Settlement Amount | O | The interbank settlement amount of the original payment, copied into the request. It confirms which payment is being cancelled when several payments share similar references. The receiving bank compares it with its own record before acting on the cancellation request. |
OrgnlIntrBkSttlmDt | Original Interbank Settlement Date | O | The interbank settlement date of the original payment, copied into the request. It confirms the value date of the payment to be cancelled. The receiving bank uses it to judge whether the payment is still cancellable or has already settled and therefore needs a return instead. |
CxlRsnInf | Cancellation Reason Information | M | The reason for the cancellation, with a coded reason and additional text. Codes include DUPL for duplicate payment, FRAD for fraud, CUST for customer request and TECH for technical error. The reason tells the receiving bank why the payment must stop and supports its audit and reporting. |
OrgnlTxRef | Original Transaction Reference | O | Reference data from the original payment, such as amount, currency, debtor and creditor, copied into the request. It helps the receiving bank match the cancellation when the identification fields alone are not enough. It also gives operations staff the details to verify the request. |
Case | Case | O | Case information for the cancellation, including the case identification and the creator of the case. It links the cancellation request to an investigation or customer query case in the requesting bank. The case reference is used in later status messages about the cancellation outcome. |
CtrlData | Control Data | O | Control data for the cancellation request, such as the number of transactions covered. It is used when one request covers several payments. The receiving bank checks the control data against the number of underlying transactions to confirm it received the complete request. |
Scheme-specific rules. camt.056 is a base ISO 20022 message: the structure and fields below are the base definition, and each scheme adds its own rules for its rail. Under SEPA a recall may only use the reasons DUPL, TECH or FRAD, and the creditor bank must answer within the SEPA recall timetable. Under CBPR+ a cancellation is a request, not an instruction: the receiving bank is not obliged to cancel a payment that has already been executed or settled.
Valid example. Meridian Bank London sends a camt.056.001.08 to Harbour Bank Singapore to cancel the pacs.008 with end to end identification MER-20261105-1187, reason DUPL, duplicate payment sent twice by the customer. Harbour Bank confirms the payment has not yet been credited and stops it.
Invalid example. A camt.056 arrives asking to cancel a payment that settled three days ago, with reason code CUST and no original transaction identification. The receiving bank cannot find the payment and cannot cancel a settled payment, so it rejects the request (error: payment already settled).
Validation errors.
- Payment already settled: a cancellation request for a payment that has been executed or credited cannot be honoured and is rejected.
- Invalid cancellation reason under SEPA: a SEPA recall with a reason other than DUPL, TECH or FRAD fails scheme validation.
- Unknown original instruction identification: a request that quotes an OrgnlInstrId the receiving bank never saw cannot be matched to any payment.
Related messages. pacs.008, pacs.004, camt.029, MT103
Processing implications. The receiving bank checks whether the payment is still held, stops it if it has not been credited, and replies with a camt.029 stating whether the cancellation was accepted or rejected. If the payment has already been credited, the debtor agent must ask the creditor to return the funds instead, usually by a pacs.004.
Accounting implications. A camt.056 posts no accounting entries itself; it only requests cancellation. If the payment is stopped before posting, nothing is booked. If the payment was already posted, the return is booked as a separate credit entry, and the original debit stays on the ledger for the audit trail.
MT101: Request for Transfer
14 fields · Single version · Related messages listed below
MT101 is a request for transfer that a customer sends to its bank to instruct one or more payments from its account. The bank receives the request, checks the debtor account and the payment details, and then executes each transfer through its own systems. It is used for bulk customer payments and standing instructions. The message carries ordering customer, beneficiary, value date, amount and remittance details for each payment.
Base message vs scheme implementation. This is a SWIFT MT (FIN) message. There is no single global scheme rulebook for MT messages: each bank and market practice defines its own format limits, cut-off times and usage rules on top of the SWIFT standard.
Sending and receiving participants. The sending participant is the customer that instructs the payment, usually a corporate. The receiving participant is the bank holding the debtor account, which validates the request and executes the transfers.
Message structure. MT101 has a header block with the transaction reference, then one or more transfer blocks. Each block holds ordering customer, beneficiary, value date, amount, charges and remittance information. A trailer block closes the message with control totals.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
:20: | Transaction Reference | M | A unique reference assigned by the customer or the sending bank to identify this request through its whole life. It must not repeat for the same sender on the same day. Operations teams use it to trace the request, match confirmations and answer customer queries about status. |
:21R: | Customer Specified Reference | O | A reference supplied by the customer to identify the payment in its own systems, such as an invoice batch number. It is carried through to the executed payment and the statement. It helps the customer reconcile the bank confirmation against its own ledger without manual matching. |
:28D: | Statement Number and Sequence Number | M | The statement number and sequence number that identify this request within a series of MT101 messages. They let the bank detect a missing or duplicate request in the sequence. The numbers must increase in order so the receiving bank can confirm it holds the complete set. |
:30: | Requested Execution Date | M | The date on which the customer asks the bank to execute the transfers in the request. The bank checks it against cut off times and business days and may move it to the next business day when it falls on a holiday. It drives the debit timing and value dating. |
:50a: | Ordering Customer | M | The customer ordering the payment, identified by account number and name and address. Option C gives account and name, option F gives structured party details, option K gives free text. Accurate ordering customer data is essential for sanctions screening and for matching the debtor account. |
:52a: | Account Servicing Institution | O | The bank servicing the ordering customer account when it differs from the receiver of the message. It identifies the institution that holds the debtor account in a multi bank arrangement. The field helps the receiver route the request and apply the correct account controls. |
:56a: | Intermediary Institution | O | An intermediary bank in the payment chain between the ordering bank and the beneficiary bank. It is used when no direct account relationship exists and funds must route through a third bank. Its BIC or name and address must be accurate to avoid misrouting the transfer. |
:57a: | Account With Institution | O | The bank where the beneficiary holds an account, when it is not the receiver of the executed payment. It directs the executing bank to forward the funds to the correct institution. Option A gives the BIC and option D gives name and address when no BIC exists. |
:59a: | Beneficiary Customer | M | The final recipient of the funds, identified by account number and name and address. The executing bank credits this account on the value date after screening checks pass. A wrong account number is a common cause of repair, so banks validate the format before execution. |
:32B: | Currency Code and Amount | M | The currency and amount of the transfer, for example EUR 48,250.00. It is the amount the beneficiary receives before any charges agreed in the request. The amount must match the debtor account currency or the agreed conversion, or the bank will hold the item for repair. |
:70: | Remittance Information | O | Free text information for the beneficiary explaining what the payment is for, such as an invoice number or contract reference. It is limited to four lines of 35 characters. Clear remittance information helps the beneficiary reconcile the receipt and reduces queries to the ordering customer. |
:71A: | Details of Charges | O | A code stating who pays the transfer charges, using OUR, BEN or SHA. OUR means the ordering customer pays all charges, BEN means the beneficiary pays, and SHA means charges are shared. The code drives fee deduction and must match the customer instruction and the bank agreement. |
:72: | Sender to Receiver Information | O | Coded or free text instructions from the sender to the receiver, such as regulatory codes or special handling notes. It can carry phrases that guide processing priority or reporting treatment. Operations teams read it before executing the transfer because it can change normal processing. |
:77B: | Regulatory Reporting | O | Regulatory information required by the authorities of the sending or receiving country, such as balance of payments codes. It is mandatory in some corridors and must follow local format rules. Missing regulatory data can delay the transfer or cause rejection by the executing bank. |
Scheme-specific rules. MT101 is a legacy customer to bank message with no single global scheme rulebook. Each bank defines its own format limits, cut off times and file handling for the message. Domestic use continues in some markets, while cross-border customer payments now use pain.001 and pacs.008 under CBPR+ instead of MT101 for new flows.
Valid example. Meridian Bank receives an MT101 from a corporate customer, reference MER101778, instructing a payment of EUR 48,250.00 on 6 November 2026 to Harbour Bank for the account of a supplier in Madrid. The debtor account is funded, the beneficiary IBAN is valid, and the bank executes the transfer on the requested value date.
Invalid example. An MT101 arrives with a value date in the past, a beneficiary account number that fails the IBAN check, and no transaction reference. The bank cannot identify the payment, cannot validate the beneficiary account, and rejects the whole request for repair.
Validation errors.
- Missing mandatory field :20: transaction reference causes rejection because the bank cannot identify or trace the payment instruction.
- Invalid IBAN in field :59: beneficiary customer causes rejection because the creditor account cannot be validated or credited.
- Value date in the past causes rejection or repair because settlement cannot be back valued without an explicit instruction.
Related messages. pain.001, MT103, pacs.008, MT900
Processing implications. The receiving bank validates the debtor account, balance, signing authority and each beneficiary before execution. Failed items are reported to the customer for correction, while valid items proceed to settlement. Bulk files need item level tracking so one bad payment does not block the rest.
Accounting implications. Each executed transfer posts a debit to the debtor account on the value date and a corresponding credit to the settlement or nostro account. Charges are posted separately to the debtor account. Rejected items post nothing, so the ledger only reflects transfers that passed validation and were executed.
MT202 COV: General Financial Institution Transfer, Cover Payment
14 fields · Single version · Related messages listed below
MT202 COV is the cover leg of a bank to bank transfer that accompanies a customer payment sent by a separate route. The ordering bank sends the customer instruction to the beneficiary bank, while the MT202 COV moves the funds through the correspondent chain. It carries the ordering customer and beneficiary details so every bank in the chain can screen the payment. It links cover and customer legs by reference.
Base message vs scheme implementation. This is a SWIFT MT (FIN) message. There is no single global scheme rulebook for MT messages: each bank and market practice defines its own format limits, cut-off times and usage rules on top of the SWIFT standard.
Sending and receiving participants. The sending participant is the ordering bank that moves the settlement funds. The receiving participants are the intermediary and beneficiary banks in the correspondent chain, which screen the payment and apply the funds to the customer instruction.
Message structure. MT202 COV follows the MT202 block layout with a transaction reference, related reference, settlement amount, ordering and beneficiary institutions, and a mandatory sequence B. Sequence B holds the underlying customer payment details, including ordering customer, beneficiary customer and remittance information, for screening.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
:20: | Transaction Reference | M | A unique reference assigned by the sending bank for this cover transfer. It identifies the cover in the sender and receiver systems and links it to the related customer payment. Operations teams use it to trace the funds, match confirmations and investigate any settlement mismatch. |
:21: | Related Reference | M | The reference of the related customer payment, normally the transaction reference of the MT103 sent directly to the beneficiary bank. Linking cover and customer legs lets every bank match the two messages and reconcile the funds. A wrong related reference breaks the match and triggers an investigation. |
:32A: | Value Date, Currency Code, Amount | M | The value date, ISO currency code and amount of the cover transfer, for example 261106USD367574,90. The amount must fund the customer payment after any agreed deductions. Settlement systems post the nostro debit and credit from this field and use it to reconcile the cover against the customer leg. |
:52a: | Ordering Institution | O | The financial institution ordering the cover transfer when it differs from the sender. In a cover payment this is the bank that sent the original customer instruction. It identifies the true source of funds and helps the receiver apply the correct nostro account and reporting treatment. |
:53a: | Sender's Correspondent | O | The correspondent account the sender uses for settlement with the receiver. It tells the receiver which account to debit for the cover funds. Accurate correspondent details prevent settlement delays and avoid the cover being held for account identification by the receiving bank. |
:54a: | Receiver's Correspondent | O | The correspondent account the receiver uses when it does not hold the sender account directly. It names the bank where the receiver expects to receive the cover funds. The field is used in chains where settlement passes through an intermediary before reaching the beneficiary bank. |
:56a: | Intermediary Institution | O | An intermediary bank in the cover chain between sender and receiver. It forwards the funds and the message and must screen sequence B before releasing the payment onward. Its BIC or name and address must be accurate so the chain routes correctly and screening is complete. |
:57a: | Account With Institution | O | The bank where the receiving institution holds the account to be credited with the cover funds. It directs the sender to the correct destination account. In multi bank chains it prevents misrouting to the wrong branch or entity when the receiver is not the final account holder. |
:58a: | Beneficiary Institution | M | The financial institution that is the final recipient of the cover funds, normally the beneficiary bank of the customer payment. Option A gives the BIC and option D gives name and address. It credits its account on the value date and matches the cover to the customer instruction. |
:72: | Sender to Receiver Information | O | Additional instructions from sender to receiver, such as cover payment linkage and settlement notes. It can carry coded information that guides the receiver on matching and handling. Operations teams check it for any condition that changes normal straight through processing of the cover transfer. |
:50a: | Ordering Customer | M | The customer who ordered the underlying payment, carried in sequence B of the MT202 COV. It gives the account number and name and address of the originator. Intermediaries use it for sanctions screening, because a cover without ordering customer data cannot be screened or processed. |
:59a: | Beneficiary Customer | M | The final beneficiary of the underlying customer payment, carried in sequence B of the MT202 COV. It gives the account number and name and address of the recipient. Intermediaries screen it and the beneficiary bank uses it to credit the correct account when the cover is matched. |
:70: | Remittance Information | O | Remittance information for the underlying customer payment, carried in sequence B. It explains what the payment is for, such as an invoice number. It helps the beneficiary bank and the beneficiary reconcile the receipt once the cover and customer legs are matched together. |
:71A: | Details of Charges | O | A code stating who pays the charges on the underlying customer payment, using OUR, BEN or SHA. It is carried in sequence B so each bank in the cover chain applies the agreed charge treatment. It must match the customer instruction or the beneficiary receives a different amount than expected. |
Scheme-specific rules. MT202 COV follows the SWIFT cover payment rules, which require full ordering customer and beneficiary data in sequence B so intermediaries can screen the underlying payment. Under CBPR+ the cover model is replaced by pacs.009 COV in ISO 20022 for cross-border flows. MT202 COV remains in use only for domestic legs and corridors not yet migrated.
Valid example. BNP Paribas Paris sends an MT202 COV for USD 367,574.90 value 6 November 2024 to Banco Santander Madrid, covering a customer payment from a Paris corporate to a Madrid supplier. This is a pre-migration example, from before coexistence ended on 22 November 2025. Sequence B names the ordering customer and the beneficiary, the related reference matches the customer instruction, and Santander applies the funds on receipt.
Invalid example. An MT202 COV arrives without sequence B, so no ordering customer or beneficiary is named. The intermediary bank cannot screen the underlying customer payment, cannot match the cover to the customer instruction, and holds the funds pending complete information from the ordering bank.
Validation errors.
- Missing sequence B causes a hold or rejection because intermediaries cannot screen the underlying customer payment without ordering customer and beneficiary data.
- Related reference in field :21: not matching the customer instruction causes a reconciliation break because cover and customer legs cannot be linked.
- Settlement amount differing from the customer payment amount causes an exception because the cover must fund the customer payment in full after agreed charges.
Related messages. MT103, MT202, pacs.009 COV, pacs.008
Processing implications. Each bank in the chain screens sequence B against sanctions and anti money laundering lists before forwarding the funds. The beneficiary bank matches the cover to the customer instruction by related reference before crediting the beneficiary. Unmatched covers sit in a suspense queue until the customer leg arrives or is traced.
Accounting implications. The cover posts a debit to the ordering bank nostro account and a credit to the beneficiary bank account on the value date. The beneficiary bank holds the funds in a settlement account until the customer leg is matched. Only after matching does it post the credit to the beneficiary customer account.
MT900: Confirmation of Debit
10 fields · Single version · Related messages listed below
MT900 is a confirmation that a bank has debited an account, sent to the account owner. It tells the receiver that a stated amount in a stated currency was taken from a named account on a stated value date. Banks use it to confirm settlement of a payment, a charge, or a nostro movement. The message carries the debit amount, value date, account and the reference of the underlying instruction.
Base message vs scheme implementation. This is a SWIFT MT (FIN) message. There is no single global scheme rulebook for MT messages: each bank and market practice defines its own format limits, cut-off times and usage rules on top of the SWIFT standard.
Sending and receiving participants. The sending participant is the bank that posted the debit, normally the account servicing bank. The receiving participant is the account owner, or another bank in the settlement chain, which needs confirmation that the debit was applied.
Message structure. MT900 is a short single block message with a transaction reference, related reference, account identification, value date with currency and amount, and ordering institution details. An optional sender to receiver information field can add narrative. There are no repeating blocks, since each MT900 confirms one debit only.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
:20: | Transaction Reference | M | A unique reference assigned by the sending bank for this debit confirmation. It identifies the confirmation in both banks systems and lets operations teams trace it. It must not repeat for the same sender on the same day, so duplicate confirmations can be detected and ignored. |
:21: | Related Reference | M | The reference of the underlying instruction that caused the debit, such as the transaction reference of the original payment. It links the confirmation to the payment or charge it confirms. Without it the receiver must match by amount and date alone, which is slower and less reliable. |
:25: | Account Identification | M | The account that was debited, identified by account number and sometimes by the account owner name. It tells the receiver exactly which account the debit hit. A wrong account number is the most common cause of MT900 exceptions and must be corrected by the sender promptly. |
:32A: | Value Date, Currency Code, Amount | M | The value date, ISO currency code and amount of the debit, for example 261106USD367574,90. The receiver compares it with its own expected debit to confirm settlement. Any difference in amount or value date creates a reconciliation break that operations must investigate before close of business. |
:52a: | Ordering Institution | O | The institution that ordered the underlying transfer, when it differs from the sender of the MT900. It identifies the true originator of the debit instruction. The field helps the receiver understand the chain and route any query about the debit to the correct institution. |
:72: | Sender to Receiver Information | O | Additional information from sender to receiver, such as a narrative explaining the debit or a code for the debit type. It can carry the reason for a charge or a fee reference. Operations teams read it when the debit does not match an expected item and needs manual review. |
:50a: | Ordering Customer | O | The customer who ordered the underlying payment, when the debit relates to a customer instruction. It gives the account and name of the originator. The receiver uses it to link the debit to the customer account and to answer customer queries about the amount taken. |
:59a: | Beneficiary Customer | O | The beneficiary of the underlying payment, when the debit relates to a customer transfer. It gives the account and name of the recipient. The receiver uses it to confirm the debit funded the intended beneficiary and to support reconciliation of the payment chain. |
:71B: | Details of Charges | O | Details of any charges included in the debit, with the charge type and amount in free text. It explains why the debit amount differs from the original instruction amount. The receiver uses it to reconcile charges against its fee agreement and to query any charge it does not recognise. |
:77B: | Regulatory Reporting | O | Regulatory information related to the debit, when required by local rules. It can carry reporting codes for the underlying transaction. The receiver keeps it for its own regulatory reporting, and missing codes in some corridors can delay the acceptance of the confirmation. |
Scheme-specific rules. MT900 follows the SWIFT message rules for debit confirmations and remains in use for account reporting alongside camt.054 in ISO 20022 flows. No CBPR+ rule replaces it for customer reporting, because it confirms an account posting rather than a payment instruction. Banks agree bilaterally whether to send MT900, camt.054, or both for the same debit.
Valid example. Harbour Bank sends an MT900 to Meridian Bank confirming a debit of USD 367,574.90 on 6 November 2026 from Meridian account 88012345, reference COV77812. The related reference matches the cover payment, the value date matches the settlement date, and Meridian reconciles the debit against its expected nostro movement.
Invalid example. An MT900 arrives quoting an account number that Meridian Bank does not hold and a value date one week in the future. The receiving bank cannot match the debit to any account or expected movement, so it raises an exception and asks the sender to confirm the account and value date.
Validation errors.
- Unknown account number in field :25: causes a reconciliation break because the receiver cannot match the debit to any account it holds.
- Value date missing or invalid in field :32A: causes a hold because the receiver cannot post or reconcile the debit to the correct business day.
- Related reference in field :21: not matching any instruction causes an exception because the debit cannot be linked to the payment it confirms.
Related messages. MT910, MT202, MT950, camt.054
Processing implications. The receiver matches the MT900 against its expected debits by account, amount, value date and related reference. Matched confirmations close the settlement item automatically. Unmatched confirmations go to an exceptions queue for manual review, and the receiver may send a query to the sender before the value date passes.
Accounting implications. The MT900 itself posts nothing, since the debit was already posted by the sender. The receiver uses it to confirm its own ledger entry for the same debit, matching amount and value date. Any difference in amount or date creates a reconciliation break that must be resolved before the books can close.
MT910: Confirmation of Credit
10 fields · Single version · Related messages listed below
MT910 is a confirmation that a bank has credited an account, sent to the account owner. It tells the receiver that an amount in a stated currency was added to a named account on a stated value date. Banks use it to confirm receipt of settlement funds, a customer payment, or a nostro credit. The message carries the credit amount, value date, account and the reference of the underlying instruction.
Base message vs scheme implementation. This is a SWIFT MT (FIN) message. There is no single global scheme rulebook for MT messages: each bank and market practice defines its own format limits, cut-off times and usage rules on top of the SWIFT standard.
Sending and receiving participants. The sending participant is the bank that posted the credit, normally the account servicing bank. The receiving participant is the account owner, or another bank in the settlement chain, which needs confirmation that the expected funds arrived and were credited.
Message structure. MT910 is a short single block message with a transaction reference, related reference, account identification, value date with currency and amount, and ordering institution details. An optional sender to receiver information field can add narrative. There are no repeating blocks, since each MT910 confirms one credit only.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
:20: | Transaction Reference | M | A unique reference assigned by the sending bank for this credit confirmation. It identifies the confirmation in both banks systems and lets operations teams trace it. It must not repeat for the same sender on the same day, so duplicate confirmations can be detected and ignored. |
:21: | Related Reference | M | The reference of the underlying instruction that caused the credit, such as the transaction reference of the original payment. It links the confirmation to the payment it confirms. Without it the receiver must match by amount and date alone, which is slower and less reliable. |
:25: | Account Identification | M | The account that was credited, identified by account number and sometimes by the account owner name. It tells the receiver exactly which account received the funds. A wrong account number is the most common cause of MT910 exceptions and must be corrected by the sender promptly. |
:32A: | Value Date, Currency Code, Amount | M | The value date, ISO currency code and amount of the credit, for example 261106USD367574,90. The receiver compares it with its own expected credit to confirm receipt. Any difference in amount or value date creates a reconciliation break that operations must investigate before close of business. |
:52a: | Ordering Institution | O | The institution that ordered the underlying transfer, when it differs from the sender of the MT910. It identifies the true originator of the credit instruction. The field helps the receiver understand the chain and route any query about the credit to the correct institution. |
:56a: | Intermediary Institution | O | An intermediary bank in the chain that handled the funds before they reached the crediting bank. It identifies the previous bank in the settlement route. The receiver uses it to trace the funds when the credit does not match an expected receipt and needs investigation. |
:72: | Sender to Receiver Information | O | Additional information from sender to receiver, such as a narrative explaining the credit or a code for the credit type. It can carry the reason for the funds or a reference for matching. Operations teams read it when the credit does not match an expected item and needs manual review. |
:50a: | Ordering Customer | O | The customer who ordered the underlying payment, when the credit relates to a customer instruction. It gives the account and name of the originator. The receiver uses it to link the credit to the customer account and to answer queries about the funds received. |
:59a: | Beneficiary Customer | O | The beneficiary of the underlying payment, when the credit relates to a customer transfer. It gives the account and name of the recipient. The receiver uses it to confirm the credit reached the intended beneficiary and to support reconciliation of the payment chain. |
:71B: | Details of Charges | O | Details of any charges deducted before the credit, with the charge type and amount in free text. It explains why the credited amount differs from the original instruction amount. The receiver uses it to reconcile charges against its fee agreement and to query any charge it does not recognise. |
Scheme-specific rules. MT910 follows the SWIFT message rules for credit confirmations and remains in use for account reporting alongside camt.054 in ISO 20022 flows. No CBPR+ rule replaces it for customer reporting, because it confirms an account posting rather than a payment instruction. Banks agree bilaterally whether to send MT910, camt.054, or both for the same credit.
Valid example. Banco Santander Madrid sends an MT910 to BNP Paribas Paris confirming a credit of USD 367,574.90 on 6 November 2026 to account 44098712, reference COV77812. The related reference matches the cover payment, the value date matches the settlement date, and BNP Paribas reconciles the credit against its expected nostro receipt.
Invalid example. An MT910 arrives for USD 367,574.90 but the receiving bank expected USD 367,574.90 on a different value date and cannot find a matching account. The credit cannot be reconciled to any expected receipt, so it sits in an unapplied funds queue until the sender confirms the account and date.
Validation errors.
- Unknown account number in field :25: causes a reconciliation break because the receiver cannot match the credit to any account it holds.
- Credit amount differing from the expected receipt causes an exception because the receiver cannot confirm full settlement of the underlying payment.
- Related reference in field :21: not matching any instruction causes a hold because the credit cannot be linked to the payment it confirms.
Related messages. MT900, MT202, MT950, camt.054
Processing implications. The receiver matches the MT910 against expected credits by account, amount, value date and related reference. Matched confirmations close the receipt item and release any held customer payment. Unmatched credits go to an unapplied funds queue, and the receiver queries the sender before applying them to an account.
Accounting implications. The MT910 itself posts nothing, since the credit was already posted by the sender. The receiver uses it to confirm its own ledger entry for the same credit, matching amount and value date. Any difference creates a reconciliation break, and unapplied credits must be investigated before the books can close for the day.
MT940: Customer Statement Message
14 fields · Single version · Related messages listed below
MT940 is a customer statement message that a bank sends to its account owner at the end of a statement period. It lists all entries posted to the account during the period, with opening and closing balances. Corporates use it for daily reconciliation, matching each bank entry to their own ledger. It carries value date, amount, currency, entry type and narrative for every transaction posted.
Base message vs scheme implementation. This is a SWIFT MT (FIN) message. There is no single global scheme rulebook for MT messages: each bank and market practice defines its own format limits, cut-off times and usage rules on top of the SWIFT standard.
Sending and receiving participants. The sending participant is the account servicing bank that holds the customer account. The receiving participant is the account owner, usually a corporate, which loads the statement into its reconciliation system.
Message structure. MT940 opens with a transaction reference and account identification, then a statement number, opening balance, a repeating block of statement lines with supplementary details, and a closing balance. Optional control totals for debit and credit entries close the message. Each statement line describes one debit or credit.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
:20: | Transaction Reference | M | A unique reference assigned by the sending bank for this statement message. It identifies the statement for tracking and duplicate detection. The customer uses it to confirm it received the correct statement and to detect a missing or duplicate statement in the sequence. |
:21: | Related Reference | O | The related reference linking this statement to a prior request or agreement, when the statement was sent on request. It helps the customer match the statement to its own request. It is often a copy of the reference from the customer request for an interim statement. |
:25: | Account Identification | M | The account the statement covers, identified by account number with the account owner name. It tells the customer system which ledger account to reconcile. A statement must never be loaded against the wrong account, so this field is checked before any entry is processed. |
:28C: | Statement Number and Sequence Number | M | The statement number and sequence number that identify this statement in a series. They let the customer detect a missing or duplicate statement. The numbers must increase in order, and a gap in the sequence means a statement was not received and must be requested again. |
:60F: | Opening Balance First | M | The opening balance of the account for the statement period, with the credit or debit mark, value date, currency and amount. It is the closing balance of the previous statement. The customer compares it with its own opening balance to confirm no entry was missed between statements. |
:60M: | Opening Balance Intermediate | O | An additional opening balance when the statement covers an intraday period or a balance was corrected. It carries the same format as the first opening balance. The customer uses it when the statement opens with a balance that differs from the previous closing balance after an adjustment. |
:61: | Statement Line | O | One entry in the statement, representing a single debit or credit with value date, entry date, amount, funds code and narrative. A statement can hold many entries. The customer matches each entry to an expected payment or receipt in its own system for reconciliation. |
:86: | Information to Account Owner | O | Supplementary details for a statement line, giving extra information such as the end to end reference or a narrative description. It can carry the beneficiary name or the invoice reference. The customer uses it as a fallback matching key when the statement line alone does not match. |
:62F: | Closing Balance First | M | The closing balance of the account for the statement period, with the credit or debit mark, value date, currency and amount. It is the opening balance plus all entries in the statement. The customer compares it with its own ledger closing balance to confirm the reconciliation is complete. |
:62M: | Closing Balance Intermediate | O | An additional closing balance when the statement covers an intraday period or a balance was corrected. It carries the same format as the first closing balance. The customer uses it when the statement closes with a balance that will be adjusted by a later correction entry. |
:64: | Closing Available Balance | O | A forward available balance showing funds expected to be available on a future date, with the credit or debit mark, date, currency and amount. It helps the customer forecast liquidity. It is not a booked balance and must not be treated as cleared cash in the ledger. |
:65: | Forward Available Balance | O | A forward available balance for a later date, with the same format as the first available balance. It shows the expected balance after future dated entries are applied. The customer uses it for cash flow planning and to confirm that future payments are covered by expected receipts. |
:90D: | Number and Sum of Debit Entries | O | The number and total amount of debit entries in the statement, used as a control total. The customer compares it with its own count and sum of debits. A difference means an entry is missing or duplicated and the statement must be investigated before reconciliation can close. |
:90C: | Number and Sum of Credit Entries | O | The number and total amount of credit entries in the statement, used as a control total. The customer compares it with its own count and sum of credits. A difference means an entry is missing or duplicated and the statement must be investigated before reconciliation can close. |
Scheme-specific rules. MT940 follows the SWIFT statement rules and remains widely used for customer account reporting, even where ISO 20022 reporting is available. Many banks still send MT940 daily because corporate reconciliation systems are built around it. CBPR+ does not replace it, since it reports account activity rather than carrying a payment instruction.
Valid example. Meridian Bank sends an MT940 to a corporate customer for account 77012345 covering 5 November 2026, opening balance EUR 120,000.00, with 14 entries including a credit of EUR 48,250.00 for a supplier receipt. The closing balance is EUR 168,250.00, the control totals agree, and the customer reconciles every entry to its ledger.
Invalid example. An MT940 arrives where the opening balance does not match the previous statement closing balance and two statement lines are missing their value dates. The customer cannot reconcile the account, so it holds the statement and asks Meridian Bank to resend a corrected statement with the missing entries.
Validation errors.
- Opening balance not matching the previous closing balance causes a reconciliation break because the customer cannot prove no entry was missed.
- Statement sequence gap causes a missing statement exception because the customer cannot confirm it holds the complete set of statements.
- Statement line with an invalid value date causes a load failure because the reconciliation system cannot post the entry to the correct period.
Related messages. MT950, MT942, camt.053, MT900
Processing implications. The customer system loads the statement, checks the sequence number and opening balance, then matches each statement line to an expected item. Matched lines close automatically and unmatched lines go to an exceptions queue. Missing statements are detected by a gap in the sequence and requested again.
Accounting implications. MT940 entries drive the customer ledger directly, since each entry posts a debit or credit to the account. The customer must reconcile every entry against its own records before closing the period. Unmatched entries stay open as breaks, and the closing balance must agree with the ledger before the period can be closed.
MT942: Interim Transaction Report
10 fields · Single version · Related messages listed below
MT942 is an interim transaction report that a bank sends to its account owner during the day, between final statements. It lists entries posted since the last statement, with an opening and interim closing balance. Corporate treasuries use it to watch intraday cash, confirm expected receipts, and manage liquidity. It carries value date, amount, currency and narrative for each entry posted so far.
Base message vs scheme implementation. This is a SWIFT MT (FIN) message. There is no single global scheme rulebook for MT messages: each bank and market practice defines its own format limits, cut-off times and usage rules on top of the SWIFT standard.
Sending and receiving participants. The sending participant is the account servicing bank that holds the customer account. The receiving participant is the account owner, usually a corporate treasury team, which uses the intraday entries to manage liquidity during the day.
Message structure. MT942 opens with a transaction reference and account identification, then a statement number, opening balance, a repeating block of interim statement lines with supplementary details, and an interim closing balance. Optional control totals for debit and credit entries close the message. Each line describes one intraday debit or credit.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
:20: | Transaction Reference | M | A unique reference assigned by the sending bank for this interim report. It identifies the report for tracking and duplicate detection. The customer uses it to confirm it received the correct report and to detect a duplicate intraday report sent in error. |
:21: | Related Reference | O | The related reference linking this interim report to a prior request or agreement, when the report was sent on request. It helps the customer match the report to its own request. It is often a copy of the reference from the customer request for intraday reporting. |
:25: | Account Identification | M | The account the interim report covers, identified by account number with the account owner name. It tells the customer system which account the intraday entries relate to. A report must never be loaded against the wrong account, so this field is checked before any entry is processed. |
:28C: | Statement Number and Sequence Number | M | The statement number and sequence number that identify this interim report in a series. They let the customer detect a missing or duplicate report. The numbers must increase in order, and a gap in the sequence means a report was not received and must be requested again. |
:60F: | Opening Balance First | M | The opening balance of the account at the start of the intraday period, with the credit or debit mark, value date, currency and amount. It is the balance from the last final statement. The customer compares it with its own balance to confirm the report starts from a known position. |
:61: | Statement Line | O | One interim entry in the report, representing a single debit or credit posted since the last statement, with value date, entry date, amount and narrative. A report can hold many entries. The customer uses each entry to update its intraday cash position and forecast the end of day balance. |
:86: | Information to Account Owner | O | Supplementary details for an interim entry, giving extra information such as the end to end reference or a narrative description. It can carry the beneficiary name or the invoice reference. The customer uses it to identify an entry before it appears on the final statement. |
:62F: | Closing Balance First | M | The interim closing balance of the account at the time of the report, with the credit or debit mark, date, currency and amount. It is the opening balance plus all interim entries. The customer compares it with its forecast balance to spot unexpected movements during the day. |
:90D: | Number and Sum of Debit Entries | O | The number and total amount of debit entries in the interim report, used as a control total. The customer compares it with its own count and sum of intraday debits. A difference means an entry is missing or duplicated and the report must be checked before the cash forecast is trusted. |
:90C: | Number and Sum of Credit Entries | O | The number and total amount of credit entries in the interim report, used as a control total. The customer compares it with its own count and sum of intraday credits. A difference means an entry is missing or duplicated and the report must be checked before the cash forecast is trusted. |
Scheme-specific rules. MT942 follows the SWIFT interim reporting rules and remains in use for intraday liquidity reporting, even where ISO 20022 reporting is available. Many treasuries still rely on MT942 because their cash management systems are built around it. CBPR+ does not replace it, since it reports intraday account activity rather than carrying a payment instruction.
Valid example. Meridian Bank sends an MT942 to a corporate customer at 13:00 on 6 November 2026 for account 77012345, opening balance EUR 168,250.00, showing a credit of EUR 25,000.00 received that morning. The interim closing balance is EUR 193,250.00, and the treasury team uses it to confirm a supplier payment can be released that afternoon.
Invalid example. An MT942 arrives at midday with no statement number and a closing balance that does not equal the opening balance plus the listed entries. The treasury team cannot trust the intraday cash position, so it discards the report and asks Meridian Bank for a corrected intraday report.
Validation errors.
- Missing statement number in field :28C: causes a sequence break because the customer cannot confirm the report fits the intraday series.
- Interim closing balance not equal to opening balance plus entries causes a load failure because the report is internally inconsistent.
- Statement line with an invalid funds code causes a repair because the treasury system cannot classify the entry as a debit or credit.
Related messages. MT940, MT950, camt.052, MT900
Processing implications. The customer treasury system loads the report and updates its intraday cash position with each entry, marking them provisional until the final statement arrives. Entries are matched to expected receipts and payments. A mismatch between the report balance and the forecast triggers a check with the bank before further payments are released.
Accounting implications. MT942 entries are intraday and provisional, so they must not post to the customer ledger as final entries. The customer uses them only for liquidity forecasting. Final postings come from the MT940 or MT950 statement, and any difference between the intraday report and the final statement creates a reconciliation item to clear.
MT950: Statement Message
12 fields · Single version · Related messages listed below
MT950 is a statement message that a bank sends to its account owner at the end of a statement period. It is the bank to bank equivalent of MT940, used when the account owner is another financial institution. It lists all entries posted to the account during the period, with opening and closing balances. Banks use it for nostro reconciliation, matching each entry to their own settlement records.
Base message vs scheme implementation. This is a SWIFT MT (FIN) message. There is no single global scheme rulebook for MT messages: each bank and market practice defines its own format limits, cut-off times and usage rules on top of the SWIFT standard.
Sending and receiving participants. The sending participant is the account servicing bank that holds the customer account. The receiving participant is the account owner, usually a corporate, which loads the statement into its reconciliation system.
Message structure. MT950 opens with a transaction reference and account identification, then a statement number, opening balance, a repeating block of statement lines with supplementary details, and a closing balance. Optional control totals for debit and credit entries close the message. Each statement line describes one debit or credit.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
:20: | Transaction Reference | M | A unique reference assigned by the sending bank for this statement message. It identifies the statement for tracking and duplicate detection. The customer uses it to confirm it received the correct statement and to detect a missing or duplicate statement in the sequence. |
:25: | Account Identification | M | The account the statement covers, identified by account number with the account owner name. It tells the customer system which ledger account to reconcile. A statement must never be loaded against the wrong account, so this field is checked before any entry is processed. |
:28C: | Statement Number and Sequence Number | M | The statement number and sequence number that identify this statement in a series. They let the customer detect a missing or duplicate statement. The numbers must increase in order, and a gap in the sequence means a statement was not received and must be requested again. |
:60F: | Opening Balance First | M | The opening balance of the account for the statement period, with the credit or debit mark, value date, currency and amount. It is the closing balance of the previous statement. The customer compares it with its own opening balance to confirm no entry was missed between statements. |
:60M: | Opening Balance Intermediate | O | An additional opening balance when the statement covers an intraday period or a balance was corrected. It carries the same format as the first opening balance. The customer uses it when the statement opens with a balance that differs from the previous closing balance after an adjustment. |
:61: | Statement Line | O | One entry in the statement, representing a single debit or credit with value date, entry date, amount, funds code and narrative. A statement can hold many entries. The customer matches each entry to an expected payment or receipt in its own system for reconciliation. |
:86: | Information to Account Owner | O | Supplementary details for a statement line, giving extra information such as the end to end reference or a narrative description. It can carry the beneficiary name or the invoice reference. The customer uses it as a fallback matching key when the statement line alone does not match. |
:62F: | Closing Balance First | M | The closing balance of the account for the statement period, with the credit or debit mark, value date, currency and amount. It is the opening balance plus all entries in the statement. The customer compares it with its own ledger closing balance to confirm the reconciliation is complete. |
:62M: | Closing Balance Intermediate | O | An additional closing balance when the statement covers an intraday period or a balance was corrected. It carries the same format as the first closing balance. The customer uses it when the statement closes with a balance that will be adjusted by a later correction entry. |
:64: | Closing Available Balance | O | A forward available balance showing funds expected to be available on a future date, with the credit or debit mark, date, currency and amount. It helps the customer forecast liquidity. It is not a booked balance and must not be treated as cleared cash in the ledger. |
:90D: | Number and Sum of Debit Entries | O | The number and total amount of debit entries in the statement, used as a control total. The customer compares it with its own count and sum of debits. A difference means an entry is missing or duplicated and the statement must be investigated before reconciliation can close. |
:90C: | Number and Sum of Credit Entries | O | The number and total amount of credit entries in the statement, used as a control total. The customer compares it with its own count and sum of credits. A difference means an entry is missing or duplicated and the statement must be investigated before reconciliation can close. |
Scheme-specific rules. MT950 follows the SWIFT statement rules for bank to bank accounts and remains in use for nostro reconciliation, even where ISO 20022 reporting is available. Many banks still exchange MT950 daily because their nostro systems are built around it. CBPR+ does not replace it, since it reports account activity rather than carrying a payment instruction.
Valid example. Harbour Bank sends an MT950 to Meridian Bank for nostro account 99012345 covering 5 November 2026, opening balance USD 2,400,000.00, with 22 entries including a debit of USD 367,574.90 for a cover payment. The closing balance is USD 2,032,425.10, the control totals agree, and Meridian reconciles every entry to its nostro ledger.
Invalid example. An MT950 arrives where the closing balance is EUR 10,000.00 higher than the opening balance plus the listed entries, and one statement line has no amount. The customer cannot close its books, so it holds the statement and asks Harbour Bank to investigate and resend a corrected statement.
Validation errors.
- Opening balance not matching the previous closing balance causes a reconciliation break because the bank cannot prove no nostro entry was missed.
- Statement sequence gap causes a missing statement exception because the bank cannot confirm it holds the complete set of statements.
- Closing balance not equal to opening balance plus entries causes a load failure because the statement is internally inconsistent.
Related messages. MT940, MT942, camt.053, MT900
Processing implications. The customer system loads the statement, checks the sequence number and opening balance, then matches each statement line to an expected item. Matched lines close automatically and unmatched lines go to an exceptions queue. Missing statements are detected by a gap in the sequence and requested again from the bank.
Accounting implications. MT950 entries post directly to the customer ledger, since the statement is the final record for the period. The customer reconciles every entry and must agree the closing balance with its ledger before closing the books. Any unmatched entry stays open as a break until the bank confirms the posting or issues a correction.
MT400: Advice of Payment
11 fields · Single version · Related messages listed below
MT400 is an advice of payment that a bank sends when it has paid a cheque or a collection. It tells the presenting bank that the funds were paid and gives the amount, currency, value date and reference. Banks use it in collections and cheque clearing, where the paying bank must confirm payment before the beneficiary bank releases the credit. The message carries the collection reference and the beneficiary details.
Base message vs scheme implementation. This is a SWIFT MT (FIN) message. There is no single global scheme rulebook for MT messages: each bank and market practice defines its own format limits, cut-off times and usage rules on top of the SWIFT standard.
Sending and receiving participants. The sending participant is the bank that paid the cheque or collection. The receiving participant is the beneficiary bank that presented the collection, which needs confirmation that the funds were paid and can be credited.
Message structure. MT400 is a short single block message with a transaction reference, related reference, value date with currency and amount, ordering institution, and beneficiary details. An optional sender to receiver information field can add narrative about the cheque or collection. There are no repeating blocks, since each MT400 advises one payment only.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
:20: | Transaction Reference | M | A unique reference assigned by the sending bank for this advice. It identifies the advice in both banks systems and lets operations teams trace it. It must not repeat for the same sender on the same day, so duplicate advices can be detected and ignored by the receiver. |
:21: | Related Reference | M | The reference of the original collection or cheque instruction that this advice relates to. It links the payment advice to the collection the beneficiary bank is expecting. Without it the receiver must match by amount and date alone, which is slower and less reliable. |
:25: | Account Identification | O | The account that was credited with the payment, identified by account number. It tells the receiver exactly which account received the funds. A wrong account number is a common cause of MT400 exceptions and must be corrected by the sender promptly. |
:32A: | Value Date, Currency Code, Amount | M | The value date, ISO currency code and amount of the payment, for example 261106EUR48250,00. The receiver compares it with its expected collection amount to confirm payment. Any difference in amount or value date creates a reconciliation break that operations must investigate. |
:52a: | Ordering Institution | O | The institution that ordered the payment, when it differs from the sender of the MT400. It identifies the true originator of the payment instruction. The field helps the receiver understand the chain and route any query about the payment to the correct institution. |
:53a: | Sender's Correspondent | O | The bank that presented the cheque or collection for payment. It identifies the presenting bank in the collection chain. The receiver uses it to confirm the payment came from the expected presenter and to route any query about the collection to that bank. |
:50a: | Ordering Customer | O | The drawer of the cheque or the party that issued the collection instruction. It gives the name and account of the party whose funds were used. The receiver uses it to link the payment to the original drawer and to answer queries about the collection. |
:59a: | Beneficiary Customer | M | The beneficiary of the payment, identified by account number and name. The receiving bank credits this party on the value date. The field confirms the funds reached the intended beneficiary and supports reconciliation of the collection chain. |
:72: | Sender to Receiver Information | O | Additional information from sender to receiver, such as a narrative explaining the payment or a code for the payment type. It can carry the cheque number or the collection reference. Operations teams read it when the payment does not match an expected item and needs manual review. |
:71B: | Details of Charges | O | Details of any charges deducted from the payment, with the charge type and amount in free text. It explains why the advised amount differs from the original collection amount. The receiver uses it to reconcile charges against its agreement and to query any charge it does not recognise. |
:30: | Payment Date | O | The date on which the cheque or collection was paid, when it differs from the value date in field 32A. It tells the receiver when the payment was actually made. The field helps the receiver reconcile the payment date against the collection maturity date. |
Scheme-specific rules. MT400 follows the SWIFT collection and cheque advice rules and remains in use for documentary collections and cheque clearing, which have no ISO 20022 equivalent in general use. Domestic cheque clearing often uses local formats instead, while cross-border collections still rely on MT400. CBPR+ does not replace it, since it advises a collection payment rather than carrying a credit transfer.
Valid example. Harbour Bank sends an MT400 to Meridian Bank advising payment of EUR 48,250.00 on 6 November 2026 for collection reference COLL99214, drawn on a Madrid corporate. The related reference matches the outstanding collection, the value date matches the payment date, and Meridian credits the beneficiary and closes the collection.
Invalid example. An MT400 arrives advising payment of EUR 48,250.00 but the beneficiary bank expected EUR 48,250.00 under a different related reference and cannot find the collection. The advice cannot be matched, so the funds sit unapplied until the sender confirms the collection reference and the drawer details.
Validation errors.
- Related reference in field :21: not matching any outstanding collection causes an exception because the payment cannot be linked to the item it settles.
- Payment amount differing from the collection amount causes a hold because the receiver cannot confirm full payment of the collection.
- Beneficiary in field :59: missing or invalid causes a repair because the receiver cannot credit the funds to the correct account.
Related messages. MT103, MT202, MT910, MT950
Processing implications. The receiving bank matches the MT400 against its outstanding collections by related reference, amount and value date. Matched advices close the collection automatically and release the credit to the beneficiary. Unmatched advices go to an exceptions queue, and the bank queries the sender before applying the funds to an account.
Accounting implications. The MT400 advises a payment that was already made, so the beneficiary bank records a credit to the beneficiary account and a debit to the settlement account. The drawer bank records the cheque or collection as paid. Any difference between the advised amount and the collection amount creates a reconciliation item for both banks to clear.
pacs.003: FI to FI Customer Direct Debit
16 fields · Has version options · Related messages listed below
pacs.003 is the ISO 20022 message a creditor agent sends to a debtor agent to collect a direct debit. It carries the mandate reference, creditor, debtor, amount and collection date for one or more debits. Banks use it for recurring collections such as utility bills, subscriptions and loan repayments. The debtor agent checks the mandate, debits the debtor account on the due date, and credits the creditor.
Base message vs scheme implementation. This is a base ISO 20022 message. The structure and fields below are the base definition; scheme-specific rules (CBPR+, SEPA, Fedwire, CHAPS, TIPS) may make an optional element mandatory, restrict a code set, or fix a version. Always check the scheme rulebook for the rail you are working on.
Sending and receiving participants. The sending participant is the creditor agent that instructs the collection. The receiving participant is the debtor agent that holds the debtor account, checks the mandate, and debits the account on the due date.
Message structure. pacs.003 has a group header with message identification and control sum, then one or more payment information blocks. Each block holds creditor, debtor, mandate related information, instructed amount and remittance details. The document outline follows the standard ISO 20022 direct debit structure with repeating transaction blocks.
Message version. Selected version: pacs.003.001.02. Field rules below are for the base message; scheme rules may add or restrict elements.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
GrpHdr | Group Header | M | The header holding message identification, creation date and time, number of transactions and control sum. It identifies the message for tracking and duplicate detection. The message identification must be unique for the sender, and the control sum must equal the sum of the transaction amounts. |
PmtInf | Payment Information | M | A block grouping direct debits that share the same creditor, creditor account, due date and charges bearer. One pacs.003 can hold many payment information blocks. Grouping simplifies validation and lets the debtor agent process all debits in the block under one collection instruction. |
PmtInfId | Payment Information Identification | M | A unique identification for the payment information block, assigned by the creditor agent. It lets the creditor and the debtor agent refer to the whole block in status reports and queries. It must be unique so the debtor agent can detect a duplicate file or block. |
PmtMtd | Payment Method | M | The method used for the collection, normally DD for direct debit. It tells the debtor agent which processing channel and clearing system to use. The method must match the mandate type, since a direct debit sent with the wrong method can be rejected by the scheme. |
ReqdColltnDt | Requested Collection Date | M | The date on which the debtor agent is asked to debit the debtor account, known as the collection date. The debtor agent checks it against cut off times and business days. It drives the debit timing, the creditor credit, and the refund window that starts on this date. |
Cdtr | Creditor | M | The creditor that will receive the collected funds, with name, postal address and identification. The debtor agent screens the creditor before debiting. Complete creditor data supports sanctions screening and lets the debtor identify the originator of the collection. |
CdtrAcct | Creditor Account | M | The account of the creditor to be credited with the collected funds, identified by IBAN. It tells the creditor agent exactly where to post the funds. A wrong account number causes the collection to fail reconciliation, so banks validate the IBAN check digits before processing. |
CdtrAgt | Creditor Agent | M | The bank holding the creditor account and sending the collection instruction onward. It is identified by BIC. The creditor agent is responsible for collecting the mandate, checking the collection details, and sending the instruction to the debtor agent on the due date. |
Dbtr | Debtor | M | The debtor whose account will be debited, with name, postal address and identification. The debtor agent matches the debtor to its customer records and checks the mandate. Complete debtor data supports screening and lets the debtor recognise the collection on its statement. |
DbtrAcct | Debtor Account | M | The account of the debtor to be debited, identified by IBAN. The debtor agent checks that the account exists and has sufficient funds on the collection date. A wrong account number is a common cause of return, so the IBAN is validated before the debit is attempted. |
DbtrAgt | Debtor Agent | M | The bank holding the debtor account, identified by BIC. It is the bank that debits the customer and checks the mandate before releasing the funds. The debtor agent screens the collection, applies the debit, and reports any return to the creditor agent. |
MndtRltdInf | Mandate Related Information | M | The mandate that authorises the creditor to collect direct debits from the debtor account. It carries the mandate identification, date of signature, and the scheme reference. Without a valid mandate the debtor agent must return the collection, so the mandate data is checked first. |
InstdAmt | Instructed Amount | M | The amount and currency of the individual direct debit, for example EUR 1,250.00. It is the amount debited from the debtor and credited to the creditor. The sum of the amounts in a payment information block must equal the control sum in the group header. |
ChrgBr | Charge Bearer | O | Who pays the charges, using CRED for creditor, DEBT for debtor, SHAR for shared or SLEV for service level. The value drives fee deduction and must match the agreement between creditor and bank. It is carried into the settlement so each agent applies the agreed charge treatment. |
RmtInf | Remittance Information | O | Information explaining the collection, such as an invoice number, in structured or unstructured form. Structured remittance lets the debtor reconcile automatically. Customers should keep it concise and use the agreed format so the debtor system can match it without manual work. |
Purp | Purpose | O | A coded purpose for the collection, such as a utility bill or a subscription payment. Purpose codes support regulatory reporting and help the debtor agent apply the correct screening. The creditor selects the code that best describes the underlying commercial reason for the debit. |
Scheme-specific rules. pacs.003 is the base ISO 20022 direct debit message, and each scheme adds its own rules on top. SEPA Core gives the debtor an eight week refund right and SEPA B2B gives no refund right but requires a mandate check before debit. CBPR+ does not define a direct debit scheme, so pacs.003 is used mainly in domestic and SEPA collections.
Valid example. Harbour Bank, as creditor agent, sends a pacs.003 to Meridian Bank for EUR 1,250.00 due 6 November 2026, collecting a monthly utility bill from a debtor account under mandate UTL884120. The mandate is valid, the debtor account is funded, Meridian debits the account on the due date, and Harbour credits the utility company.
Invalid example. A pacs.003 arrives with a mandate reference that the debtor bank cannot find and a collection date in the past. The debtor agent cannot confirm the creditor is authorised to collect, so it returns the debit unpaid and reports the failure to the creditor agent for correction.
Validation errors.
- Mandate reference not found causes a return because the debtor agent cannot confirm the creditor is authorised to collect from the account.
- Collection date in the past causes rejection because the debit cannot be back valued without an explicit scheme exception.
- Instructed amount exceeding the mandate limit causes a return because the collection breaches the maximum amount the debtor authorised.
Related messages. pain.008, pacs.004, pacs.002, camt.054
Processing implications. The debtor agent validates the mandate, the debtor account and the collection date before debiting. Valid debits settle on the due date and the creditor is credited. Invalid or unauthorised debits are returned with a reason code, and the debtor may claim a refund within the scheme window after the debit.
Accounting implications. Each direct debit posts a debit to the debtor account on the due date and a credit to the creditor account, with the creditor agent holding the funds in a settlement account until clearing. Returned debits reverse both postings. Charges for the collection are posted separately to the creditor account under the scheme agreement.
pacs.009 Core: FI to FI Credit Transfer, Core
12 fields · Has version options · Related messages listed below
pacs.009 Core is the standard ISO 20022 bank to bank credit transfer used for the interbank leg of a customer payment. It moves funds between financial institutions with no customer beneficiary named, to settle a cover payment or fund a nostro account. It carries settlement amount, settlement date, debtor agent, creditor agent and the related customer payment reference. It is the main interbank leg under CBPR+.
Base message vs scheme implementation. This is a CBPR+ scheme-specific implementation of the base pacs.009 message, not the base message itself. The base message defines the structure; the CBPR+ rules for this variant add or restrict elements, for example mandatory structured party data. See the pacs.009 (Base) entry for the base definition.
Sending and receiving participants. The sending participant is the debtor agent that moves the bank funds. The receiving participant is the creditor agent that receives the funds, checks them against expected receipts, and applies them to the related customer payment.
Message structure. pacs.009 Core has a group header, a payment identification block, settlement amount and date, settlement information, debtor agent and creditor agent blocks, and optional related payment information. The document outline follows the standard ISO 20022 credit transfer structure with one transaction per message in CBPR+ use.
Message version. Selected version: pacs.009.001.06. Field rules below are for the base message; scheme rules may add or restrict elements.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
GrpHdr | Group Header | M | The header holding message identification, creation date and time, number of transactions and control sum. It identifies the message for tracking and duplicate detection. The message identification must be unique for the sender, and the control sum must equal the sum of the transaction amounts. |
PmtId | Payment Identification | M | The identification block with instruction identification, end to end identification and transaction identification. End to end identification links this bank leg to the related customer payment. It lets operations teams match the pacs.009 Core to its pacs.008 and confirm settlement and instruction agree. |
IntrBkSttlmAmt | Interbank Settlement Amount | M | The amount and currency settled between the debtor agent and the creditor agent, for example USD 367,574.90. Settlement systems post the nostro debit and credit from this amount. It must match the related customer payment amount after any agreed charges, or the cover will fail reconciliation. |
IntrBkSttlmDt | Interbank Settlement Date | O | The date on which interbank settlement occurs. It drives nostro funding, liquidity planning and value dating of the related customer payment. The date must be a business day for the settlement currency and must be consistent with the settlement method and the clearing system cut off times. |
SttlmInf | Settlement Information | M | How settlement will occur, including settlement method and settlement account. INDA means settlement through the instructed agent, CLRG means through a clearing system, and COVE means a cover payment. The method tells each bank which account to debit and credit and which channel carries the funds. |
Dbtr | Debtor | O | The debtor in this bank to bank transfer, normally the debtor agent itself. It is identified by name and BIC. The field distinguishes the legal debtor from the sending agent when a bank moves funds on behalf of another institution in the chain. |
DbtrAgt | Debtor Agent | M | The bank sending the funds and debiting its account for this transfer. It is identified by BIC. The debtor agent is responsible for funding the payment, choosing the settlement route and sending the message to the next agent in the chain on the stated settlement date. |
CdtrAgt | Creditor Agent | M | The bank receiving the funds and crediting its account. It is identified by BIC. The creditor agent checks the incoming funds against its expected receipts, screens the payment and uses the funds to settle the related customer payment or to fund its own account. |
Cdtr | Creditor | O | The creditor institution receiving the funds, normally the creditor agent itself. It is identified by name and BIC. The field confirms the final destination of the bank funds and supports reconciliation when the creditor agent and the creditor are different legal entities in a group. |
RltdPmtInf | Related Payment Information | O | Information about a related payment, most often the pacs.008 customer credit transfer that this pacs.009 Core covers. It can hold the related message identification and amount. The creditor agent uses it to match cover and customer legs and to release the customer payment only when both agree. |
RltdRmtInf | Related Remittance Information | O | Remittance information related to the underlying customer payment, carried so the creditor agent can link the cover to the customer instruction. It can hold the end to end identification or the original remittance reference. Accurate linkage prevents the cover being treated as an unmatched receipt. |
Purp | Purpose | O | A coded purpose for the bank transfer, such as a cover payment or a liquidity transfer. Purpose codes support reporting and internal accounting. Banks use them to classify nostro movements and to distinguish customer related covers from own account funding transfers in their ledgers. |
Scheme-specific rules. pacs.009 Core is the base CBPR+ usage for bank to bank transfers, with mandatory structured debtor and creditor agent data and a related payment link for covers. It is distinct from COV, which carries full customer details for screening, and from ADV, which only advises a payment. Domestic schemes may use the same base message with local settlement method rules.
Valid example. BNP Paribas Paris sends a pacs.009 Core for USD 367,574.90 value 6 November 2026 to Banco Santander Madrid, settling a customer payment from a Paris corporate to a Madrid supplier. The end to end identification matches the pacs.008, the settlement date is a business day, and Santander applies the funds and credits the beneficiary.
Invalid example. A pacs.009 Core arrives with a settlement amount of USD 367,574.90 but no related payment information and a settlement date that is not a business day. The creditor agent cannot link it to the customer payment, so the funds sit unapplied until the debtor agent sends the missing linkage and a valid date.
Validation errors.
- Settlement amount not matching the related customer payment causes a reconciliation break because the cover cannot fund the customer payment in full.
- Missing related payment information causes a suspense hold because the creditor agent cannot link the bank leg to the customer instruction.
- Settlement date on a non business day causes rejection because settlement cannot occur when the currency clearing system is closed.
Related messages. pacs.008, pacs.009 COV, pacs.009 ADV, MT202
Processing implications. The creditor agent matches the Core leg to the related customer payment by end to end identification before releasing the credit. Matched legs settle automatically and the customer payment is released. Unmatched legs sit in a suspense queue until the customer instruction arrives or the debtor agent provides the missing reference.
Accounting implications. The Core leg posts a debit to the debtor agent nostro account and a credit to the creditor agent account on the settlement date. The creditor agent then credits the beneficiary customer account. Charges are posted separately, and the settlement amount must agree with the customer payment it funds.
pacs.009 COV: FI to FI Credit Transfer, Cover
15 fields · Has version options · Related messages listed below
pacs.009 COV is the ISO 20022 cover leg that moves settlement funds through the correspondent chain while the customer instruction travels directly to the beneficiary bank. It carries the full debtor and creditor details so every intermediary can screen the underlying payment. It links cover and customer legs by end to end identification. It is the CBPR+ replacement for the MT202 COV cover model.
Base message vs scheme implementation. This is a CBPR+ scheme-specific implementation of the base pacs.009 message, not the base message itself. The base message defines the structure; the CBPR+ rules for this variant add or restrict elements, for example mandatory structured party data. See the pacs.009 (Base) entry for the base definition.
Sending and receiving participants. The sending participant is the debtor agent that moves the settlement funds. The receiving participants are the intermediary and creditor agents in the correspondent chain, which screen the full customer details and apply the funds to the customer instruction.
Message structure. pacs.009 COV has a group header, payment identification, settlement amount and date, settlement information, full debtor and creditor blocks with accounts, debtor agent and creditor agent blocks, and optional intermediary and charges blocks. The document outline mirrors pacs.009 Core with the customer party details added for screening.
Message version. Selected version: pacs.009.001.06. Field rules below are for the base message; scheme rules may add or restrict elements.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
GrpHdr | Group Header | M | The header holding message identification, creation date and time, number of transactions and control sum. It identifies the message for tracking and duplicate detection. The message identification must be unique for the sender, and the control sum must equal the sum of the transaction amounts. |
PmtId | Payment Identification | M | The identification block with instruction identification, end to end identification and transaction identification. End to end identification links this cover to the related customer payment sent directly to the beneficiary bank. It lets every bank match the cover and customer legs by the same reference. |
IntrBkSttlmAmt | Interbank Settlement Amount | M | The amount and currency settled between the debtor agent and the creditor agent, for example USD 367,574.90. Settlement systems post the nostro debit and credit from this amount. It must fund the customer payment after any agreed deductions, or the cover will fail reconciliation at the beneficiary bank. |
IntrBkSttlmDt | Interbank Settlement Date | O | The date on which interbank settlement occurs. It drives nostro funding, liquidity planning and value dating of the related customer payment. The date must be a business day for the settlement currency and must be consistent with the settlement method and the clearing system cut off times. |
SttlmInf | Settlement Information | M | How settlement will occur, including settlement method and settlement account. COVE means a cover payment and tells each bank that a separate customer instruction travels directly to the beneficiary bank. The method tells each bank which account to debit and credit and which channel carries the funds. |
Dbtr | Debtor | M | The customer who ordered the underlying payment, carried in the cover so every bank can screen it. It gives the account number, name and address of the originator. Intermediaries use it for sanctions screening, because a cover without ordering customer data cannot be screened or processed. |
DbtrAcct | Debtor Account | O | The account of the debtor from which the underlying payment is funded, identified by IBAN or other account identification. It links the cover to the correct customer account in the debtor agent system. Accurate account data is needed for debit posting and customer statement reporting. |
DbtrAgt | Debtor Agent | M | The bank holding the debtor account and sending the cover onward. It is identified by BIC. The debtor agent is responsible for debiting the customer, applying charges, screening the payment and choosing the settlement route to the next bank in the chain. |
Cdtr | Creditor | M | The final beneficiary of the underlying customer payment, carried in the cover so every bank can screen it. It gives the account number, name and address of the recipient. Intermediaries screen it and the beneficiary bank uses it to credit the correct account when the cover is matched. |
CdtrAcct | Creditor Account | O | The account of the creditor to be credited, identified by IBAN or other account identification. It tells the beneficiary bank exactly where to post the funds once the cover is matched. A wrong account number is a common cause of returns, so banks validate the IBAN check digits before release. |
CdtrAgt | Creditor Agent | M | The bank holding the creditor account and receiving the cover for onward credit. It is identified by BIC. The creditor agent screens the incoming cover, checks the creditor account and credits the beneficiary on the value date after the customer leg is matched. |
IntrmyAgt1 | Intermediary Agent 1 | O | An intermediary bank in the cover chain between debtor agent and creditor agent. It forwards the funds and screens the full customer details before releasing the payment onward. Its BIC must be accurate so the chain routes correctly and screening is complete at each step. |
ChrgsInf | Charges Information | O | Details of the charges applied to the underlying payment, including the amount, currency and bearer. The bearer can be debtor, creditor or shared. Transparent charges data lets the creditor understand any deduction and supports tracking of fees across the correspondent chain. |
RmtInf | Remittance Information | O | Structured or unstructured information explaining what the underlying payment is for, such as invoice numbers. Structured remittance lets the creditor reconcile automatically against open items. It is carried in the cover so the beneficiary bank can pass it to the beneficiary on credit. |
RltdPmtInf | Related Payment Information | O | Information about a related payment, most often the customer credit transfer that this cover settles. It can hold the related message identification and amount. The beneficiary bank uses it to match cover and customer legs and to release the customer payment only when both agree. |
Scheme-specific rules. pacs.009 COV follows the CBPR+ cover payment rules, which require full structured debtor and creditor data so intermediaries can screen the underlying customer payment. It is distinct from Core, which carries no customer beneficiary, and from ADV, which only advises. Domestic schemes do not normally use COV, since a direct pacs.008 suffices within one clearing system.
Valid example. BNP Paribas Paris sends a pacs.009 COV for USD 367,574.90 value 6 November 2026 to Banco Santander Madrid, covering a customer payment from a Paris corporate to a Madrid supplier. The debtor and creditor names and addresses are complete, the end to end identification matches the customer instruction, and Santander screens, matches and applies the funds.
Invalid example. A pacs.009 COV arrives without the debtor name and address, so the intermediary bank cannot screen the underlying customer payment. The funds are held in the intermediary nostro account, the cover cannot be forwarded, and the ordering bank must send a corrected message with full debtor details.
Validation errors.
- Missing debtor name and address causes a hold because intermediaries cannot screen the underlying customer payment without complete party data.
- End to end identification not matching the customer instruction causes a reconciliation break because cover and customer legs cannot be linked.
- Settlement amount differing from the customer payment amount causes an exception because the cover must fund the customer payment in full after agreed charges.
Related messages. pacs.008, pacs.009 Core, MT202 COV, pacs.002
Processing implications. Each bank in the chain screens the debtor and creditor details against sanctions and anti money laundering lists before forwarding the cover. The beneficiary bank matches the cover to the customer instruction by end to end identification before crediting the beneficiary. Unmatched covers sit in a suspense queue until the customer leg arrives.
Accounting implications. The COV leg posts a debit to the ordering bank nostro account and a credit to the beneficiary bank account, with the funds held in a settlement account until the customer leg is matched. Only after matching does the beneficiary bank post the credit to the beneficiary customer account, so the ledger shows the two stage settlement clearly.
pacs.009 ADV: FI to FI Credit Transfer, Advice
13 fields · Has version options · Related messages listed below
pacs.009 ADV is the ISO 20022 advice leg that tells a bank funds are on their way, without moving the funds itself. It carries the settlement amount, settlement date, debtor agent, creditor agent and the related customer payment reference. Banks use it when the customer instruction and the funds travel by different routes, so the receiving bank can screen and prepare the credit. It is the advice variant of pacs.009.
Base message vs scheme implementation. This is a CBPR+ scheme-specific implementation of the base pacs.009 message, not the base message itself. The base message defines the structure; the CBPR+ rules for this variant add or restrict elements, for example mandatory structured party data. See the pacs.009 (Base) entry for the base definition.
Sending and receiving participants. The sending participant is the debtor agent that will move the funds. The receiving participant is the creditor agent that expects the funds, screens the payment in advance, and prepares to credit the beneficiary when settlement arrives.
Message structure. pacs.009 ADV has a group header, payment identification, advised settlement amount and date, settlement information, debtor agent and creditor agent blocks, and full debtor and creditor blocks. The document outline mirrors pacs.009 Core, with the settlement method marked as advice rather than a live settlement instruction.
Message version. Selected version: pacs.009.001.06. Field rules below are for the base message; scheme rules may add or restrict elements.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
GrpHdr | Group Header | M | The header holding message identification, creation date and time, number of transactions and control sum. It identifies the message for tracking and duplicate detection. The message identification must be unique for the sender, and the control sum must equal the sum of the advised amounts. |
PmtId | Payment Identification | M | The identification block with instruction identification, end to end identification and transaction identification. End to end identification links this advice to the related customer payment. It lets the receiving bank match the advice to the expected funds before they arrive. |
IntrBkSttlmAmt | Interbank Settlement Amount | M | The amount and currency that will be settled between the debtor agent and the creditor agent, for example USD 367,574.90. The receiving bank uses it to expect the incoming funds and to plan liquidity. It must match the related customer payment amount after any agreed charges. |
IntrBkSttlmDt | Interbank Settlement Date | O | The date on which interbank settlement is expected to occur. It drives liquidity planning and value dating of the related customer payment. The date must be a business day for the settlement currency and must be consistent with the settlement method and the clearing system cut off times. |
SttlmInf | Settlement Information | M | How settlement will occur, including settlement method and settlement account. ADV means an advice of a payment and tells the receiver that funds will follow through a separate leg. The method tells the receiver which account and channel the funds will use when they arrive. |
DbtrAgt | Debtor Agent | M | The bank sending the advice and debiting its account when the funds move. It is identified by BIC. The debtor agent is responsible for funding the payment, choosing the settlement route and sending the advice to the next agent before the funds arrive. |
CdtrAgt | Creditor Agent | M | The bank receiving the advice and expecting the funds. It is identified by BIC. The creditor agent checks the advice against its expected receipts, screens the payment and prepares to credit the beneficiary when the settlement funds arrive on the stated date. |
Dbtr | Debtor | M | The customer who ordered the underlying payment, carried in the advice so the receiver can screen it. It gives the name and address of the originator. The receiver uses it for sanctions screening before the funds arrive, so the payment can be released without delay on settlement. |
Cdtr | Creditor | M | The final beneficiary of the underlying customer payment, carried in the advice so the receiver can screen it. It gives the name and address of the recipient. The receiver uses it to prepare the credit and to check the beneficiary account before the funds arrive. |
CdtrAcct | Creditor Account | O | The account of the creditor to be credited when the funds arrive, identified by IBAN or other account identification. It tells the creditor agent exactly where to post the funds. A wrong account number is a common cause of delay, so banks validate the IBAN check digits on receipt of the advice. |
RltdPmtInf | Related Payment Information | O | Information about a related payment, most often the customer credit transfer that this advice refers to. It can hold the related message identification and amount. The creditor agent uses it to match the advice to the expected funds and to release the customer payment when the funds arrive. |
RmtInf | Remittance Information | O | Structured or unstructured information explaining what the underlying payment is for, such as invoice numbers. It is carried in the advice so the beneficiary bank can pass it to the beneficiary on credit. Clear remittance information helps the beneficiary reconcile the receipt once funds arrive. |
Purp | Purpose | O | A coded purpose for the advised payment, such as a cover payment or a liquidity transfer. Purpose codes support reporting and internal accounting. Banks use them to classify expected receipts and to distinguish customer related advices from own account funding advices in their ledgers. |
Scheme-specific rules. pacs.009 ADV follows the CBPR+ advice rules, which require full debtor and creditor data so the receiving bank can screen before funds arrive. It is distinct from Core, which settles funds, and from COV, which settles funds through the correspondent chain. Domestic schemes rarely use ADV, since settlement within one clearing system needs no separate advice leg.
Valid example. BNP Paribas Paris sends a pacs.009 ADV for USD 367,574.90 value 6 November 2026 to Banco Santander Madrid, advising that settlement funds for a customer payment from a Paris corporate to a Madrid supplier will arrive that day. Santander screens the debtor and creditor, checks the beneficiary account, and prepares the credit for release on receipt of funds.
Invalid example. A pacs.009 ADV arrives advising USD 367,574.90 but the end to end identification matches no expected payment and the creditor account is closed. The receiving bank cannot prepare the credit, so it holds the advice in an exceptions queue and asks the debtor agent to confirm the reference and the beneficiary account.
Validation errors.
- End to end identification matching no expected payment causes a suspense hold because the advice cannot be linked to the payment it refers to.
- Creditor account closed or invalid causes a repair because the receiving bank cannot prepare the credit for the beneficiary.
- Settlement date in the past causes an exception because the advised funds are already overdue and the receiver must query the debtor agent.
Related messages. pacs.008, pacs.009 Core, pacs.009 COV, MT202
Processing implications. The receiving bank screens the advice on receipt and pre checks the beneficiary account, so the credit can be released quickly when funds arrive. If the funds do not arrive on the stated date, the advice stays open and the bank queries the debtor agent. Advices never settle funds on their own.
Accounting implications. The ADV leg posts no settlement entry, since it only advises that funds will arrive. The receiving bank may record a memo entry for the expected receipt, but the ledger is not affected. The real debit and credit post only when the settlement funds arrive through the separate cover or direct leg.
pain.008: Customer Direct Debit Initiation
15 fields · Has version options · Related messages listed below
pain.008 is the ISO 20022 message a creditor customer sends to its bank to instruct direct debit collections. It is the first message in the customer to bank direct debit chain. It carries payment information, creditor, debtor, mandate, amount and collection date for each debit. Banks receive it through host to host files or payment hubs, validate it, and then create the interbank pacs.003 to collect the funds.
Base message vs scheme implementation. This is a base ISO 20022 message. The structure and fields below are the base definition; scheme-specific rules (CBPR+, SEPA, Fedwire, CHAPS, TIPS) may make an optional element mandatory, restrict a code set, or fix a version. Always check the scheme rulebook for the rail you are working on.
Sending and receiving participants. The sending participant is the creditor customer that instructs the collections, usually a utility or subscription business. The receiving participant is the creditor agent bank, which validates the file and creates the interbank collections.
Message structure. pain.008 has a group header with message identification and control sum, then one or more payment information blocks. Each block holds creditor, debtor, mandate related information, instructed amount and remittance details. The document outline follows the standard ISO 20022 direct debit initiation structure with repeating transaction blocks.
Message version. Selected version: pain.008.001.02. Field rules below are for the base message; scheme rules may add or restrict elements.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
GrpHdr | Group Header | M | The header with message identification, creation date and time, number of transactions, control sum and initiating party. It identifies the file for the bank and the customer. The bank uses it to acknowledge receipt, detect duplicate files and reconcile the total amount against the sum of the individual collections. |
PmtInf | Payment Information | M | A block grouping collections that share the same creditor, creditor account, collection date and charges bearer. One pain.008 file can hold many payment information blocks. Grouping by common attributes simplifies validation and lets the bank process all collections in the block under one instruction. |
PmtInfId | Payment Information Identification | M | A unique identification for the payment information block, assigned by the customer. It lets the customer and the bank refer to the whole block in status reports and queries. It must be unique for the initiating party so the bank can detect a duplicate file or block. |
PmtMtd | Payment Method | M | The method used for the collection, normally DD for direct debit. It tells the bank which processing channel and clearing system to use. The method must match the mandate type, since a direct debit sent with the wrong method can be rejected by the scheme. |
ReqdColltnDt | Requested Collection Date | M | The date on which the customer asks the bank to collect the direct debit from the debtor account. The bank checks it against cut off times and business days. It drives the debit timing, the creditor credit, and the refund window that starts on this date. |
Cdtr | Creditor | M | The creditor that will receive the collected funds, with name, postal address and identification. The bank matches the creditor to its customer records and checks the mandate. Complete creditor data supports sanctions screening and lets the bank report the collection correctly. |
CdtrAcct | Creditor Account | M | The account of the creditor to be credited with the collected funds, identified by IBAN. The bank checks that the account exists and is authorised for direct debit collections. A wrong account number is a common cause of file rejection at validation stage. |
CdtrAgt | Creditor Agent | M | The bank holding the creditor account, identified by BIC. It is the bank receiving the pain.008 file. The creditor agent validates the file, checks the mandates and creates the interbank pacs.003 messages needed to collect from each debtor agent. |
Dbtr | Debtor | M | The debtor whose account will be debited, with name, postal address and identification. The bank screens the debtor before collection. Complete debtor data reduces the chance of the collection being returned by the debtor agent for missing debtor information. |
DbtrAcct | Debtor Account | M | The account of the debtor to be debited, identified by IBAN. The bank validates the IBAN format and check digits before accepting the file. A valid IBAN does not guarantee the account exists, but it prevents many format errors that cause returns. |
DbtrAgt | Debtor Agent | O | The bank holding the debtor account, identified by BIC when known. The customer may leave it blank and let the creditor agent derive it from the debtor IBAN. Accurate debtor agent data speeds routing and avoids the collection being sent to the wrong bank. |
MndtRltdInf | Mandate Related Information | M | The mandate that authorises the creditor to collect direct debits from the debtor account. It carries the mandate identification, date of signature, and the scheme reference. Without a valid mandate the collection must not be sent, so the mandate data is checked before the file is accepted. |
InstdAmt | Instructed Amount | M | The amount and currency of the individual direct debit, for example EUR 1,250.00. It is the amount debited from the debtor and credited to the creditor. The sum of the amounts in a payment information block must equal the control sum in the group header. |
ChrgBr | Charge Bearer | O | Who pays the charges, using CRED for creditor, DEBT for debtor, SHAR for shared or SLEV for service level. The value drives fee deduction and must match the agreement between the customer and the bank. It is carried forward into the pacs.003 that the bank creates. |
RmtInf | Remittance Information | O | Information explaining the collection, such as an invoice number, in structured or unstructured form. Structured remittance lets the debtor reconcile automatically. Customers should keep it concise and use the agreed format so the debtor system can match it without manual work. |
Scheme-specific rules. pain.008 is the base ISO 20022 customer direct debit initiation message, and each scheme adds its own rules on top. SEPA Core requires the creditor identifier and gives the debtor an eight week refund right, while SEPA B2B requires the debtor bank to check the mandate before debit. Domestic schemes may add local mandate formats and collection timing rules.
Valid example. A utility company sends a pain.008 to Harbour Bank with 400 collections for EUR 1,250.00 each, due 6 November 2026, under mandate references starting UTL884120. The control sum matches, every mandate is valid, Harbour accepts the file, and it creates pacs.003 messages to collect each debit from the debtor banks.
Invalid example. A pain.008 arrives with a control sum that does not match the sum of the instructed amounts and a mandate reference that is missing for two collections. The bank cannot accept the file as a whole, so it rejects the file and asks the creditor to correct the control sum and the mandate data.
Validation errors.
- Control sum not matching the sum of instructed amounts causes file rejection because the bank cannot confirm it received the complete file.
- Missing mandate related information causes rejection because the bank cannot confirm the creditor is authorised to collect from the debtor.
- Invalid debtor IBAN causes item rejection because the debtor account cannot be validated or debited by the debtor agent.
Related messages. pacs.003, pain.002, pacs.004, MT101
Processing implications. The bank validates the file structure, the control sum, each mandate and each debtor IBAN before accepting it. Valid collections are converted into pacs.003 messages and sent to the debtor agents. Rejected items are reported in a pain.002 status report so the creditor can correct and resend only those items.
Accounting implications. The pain.008 itself posts nothing, since it is only an instruction file. The bank posts the debit to the debtor account and the credit to the creditor account only when it creates the pacs.003 collection. Rejected instructions post nothing, so the ledger only reflects collections that passed validation and were executed.
camt.029: Resolution of Investigation
12 fields · Has version options · Related messages listed below
camt.029 is the ISO 20022 message a bank sends to resolve an investigation into a payment. It answers a claim raised about a missing, duplicated or wrongly credited payment and states whether the claim is accepted or rejected. It carries the case reference, the original payment details and the resolution outcome. Banks use it to close payment investigations and to agree any return of funds.
Base message vs scheme implementation. This is a base ISO 20022 message. The structure and fields below are the base definition; scheme-specific rules (CBPR+, SEPA, Fedwire, CHAPS, TIPS) may make an optional element mandatory, restrict a code set, or fix a version. Always check the scheme rulebook for the rail you are working on.
Sending and receiving participants. The sending participant is the bank that investigated the payment dispute. The receiving participant is the bank that raised the investigation, which needs the outcome to inform its customer and close the case.
Message structure. camt.029 has an assignment block with the resolution identification, a case block with the investigation reference, a status block with the outcome and reason, and an underlying block with the original payment details. The document outline follows the standard ISO 20022 investigation structure with one resolution per message.
Message version. Selected version: camt.029.001.03. Field rules below are for the base message; scheme rules may add or restrict elements.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
Assgnmt | Assignment | M | The assignment block holding the identification of the resolution, the assigner and the assignee. It identifies the investigation response for tracking and audit. The assigner is the bank that investigated the case and the assignee is the bank that raised the original investigation. |
Case | Case | M | The case information for the investigation, including the case identification and the creator of the case. It links the resolution to the investigation raised in a camt.028 or a claim. The case reference is used in later messages about the same payment dispute. |
Sts | Status | M | The status of the investigation, using codes such as RJCR for rejected, ACCP for accepted, or PDNG for pending. It tells the requesting bank whether its claim was accepted. The status drives the next action, whether that is to return the funds, to close the case, or to escalate it. |
Undrlyg | Underlying | M | The original payment reference and details for the payment under investigation. It carries the original instruction identification, end to end identification and transaction identification. It tells the receiving bank exactly which payment the resolution refers to in its systems. |
OrgnlInstrId | Original Instruction Identification | M | The instruction identification of the original payment, copied into the resolution. It is the primary key the requesting bank uses to find the payment. A wrong instruction identification means the resolution may be applied to the wrong payment or fail to match at all. |
OrgnlEndToEndId | Original End to End Identification | O | The end to end identification of the original payment, copied into the resolution. It stays unchanged through the chain and lets all parties refer to the same payment. It is the reference the customer uses when asking about the outcome of the investigation. |
OrgnlTxId | Original Transaction Identification | O | The transaction identification of the original payment, assigned by the instructing agent. It gives the receiving bank a further matching key. Banks use it to confirm the resolution refers to the correct transaction when instruction identification alone is not unique in their systems. |
OrgnlIntrBkSttlmAmt | Original Interbank Settlement Amount | O | The interbank settlement amount of the original payment, copied into the resolution. It confirms which payment is being resolved when several payments share similar references. The receiving bank compares it with its own record before acting on the resolution outcome. |
RsltnInf | Resolution Information | O | The resolution outcome details, including whether the payment will be returned, corrected, or left as settled. It can carry the return amount and the value date of the return. The requesting bank uses it to inform the customer and to post any agreed return to the account. |
StsRsnInf | Status Reason Information | O | The reason for the resolution outcome, with a coded reason and additional free text. Codes explain why a claim was accepted or rejected, such as no error found or payment already credited. Clear reason codes let the requesting bank explain the outcome to its customer. |
ChrgsInf | Charges Information | O | Charges related to the investigation, when the resolving bank applies a fee for its work. It can show the amount and bearer of the fee. The requesting bank uses it to reconcile investigation charges against its fee schedule and to query any charge it does not recognise. |
CtrlData | Control Data | O | Control data for the resolution, such as the number of transactions covered. It is used when one resolution covers several payments in the same case. The receiving bank checks the control data against the number of underlying transactions to confirm it received the complete resolution. |
Scheme-specific rules. camt.029 is the base ISO 20022 investigation resolution message, used across CBPR+ and domestic schemes with the same structure. CBPR+ requires the resolution within the scheme investigation time limit, while domestic schemes may set shorter limits. The message itself carries no scheme specific party rules, since it reports an outcome rather than instructing a payment.
Valid example. Banco Santander Madrid sends a camt.029 to BNP Paribas Paris resolving case INV55210 about a payment of USD 367,574.90 that the customer said was missing. Santander confirms the funds were credited to the beneficiary on 6 November 2026, rejects the claim with reason no error found, and BNP Paribas informs the customer and closes the case.
Invalid example. A camt.029 arrives with a case identification that matches no open investigation and no original instruction identification. The requesting bank cannot link the resolution to any payment it queried, so it rejects the message and asks the resolving bank to resend it with the correct case and payment references.
Validation errors.
- Case identification matching no open investigation causes rejection because the resolution cannot be linked to any payment dispute.
- Original instruction identification missing causes a matching failure because the bank cannot confirm which payment the resolution refers to.
- Status code invalid or missing causes a hold because the receiving bank cannot tell whether the claim was accepted or rejected.
Related messages. camt.028, camt.056, pacs.004, pacs.002
Processing implications. The receiving bank matches the resolution to its open case by case identification and original payment reference. Accepted claims trigger a return or correction of the payment, while rejected claims close the case with the reason given. The outcome is reported to the customer, and the case is archived with the resolution attached.
Accounting implications. The camt.029 itself posts nothing, since it only reports the outcome of an investigation. The underlying payment entries were already posted when the original payment settled. A return agreed in the resolution posts a reverse entry, while a rejection leaves the original entries unchanged and the investigation is closed.
camt.050: Liquidity Credit Transfer
12 fields · Has version options · Related messages listed below
camt.050 is the ISO 20022 message used to move liquidity between accounts held within the same bank or banking group. Treasury teams use it to fund a nostro account, sweep balances to a central account, or cover a shortfall before a payment run. It carries the source account, destination account, amount and execution date. It moves bank funds only and never carries a customer payment.
Base message vs scheme implementation. This is a base ISO 20022 message. The structure and fields below are the base definition; scheme-specific rules (CBPR+, SEPA, Fedwire, CHAPS, TIPS) may make an optional element mandatory, restrict a code set, or fix a version. Always check the scheme rulebook for the rail you are working on.
Sending and receiving participants. The sending participant is the treasury team or system that instructs the liquidity movement. The receiving participant is the account servicing system that holds the source and destination accounts and executes the transfer between them.
Message structure. camt.050 has a group header, a debtor account block, a creditor account block, a transferred amount block, an execution date, and agent blocks for both sides. The document outline follows the standard ISO 20022 liquidity transfer structure with one transfer per message and no repeating transaction blocks.
Message version. Selected version: camt.050.001.02. Field rules below are for the base message; scheme rules may add or restrict elements.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
GrpHdr | Group Header | M | The header holding message identification, creation date and time and the instructing agent. It identifies the liquidity transfer for tracking and duplicate detection. The message identification must be unique for the sender, so a duplicate transfer can be detected and ignored. |
DbtrAcct | Debtor Account | M | The account from which liquidity is moved, identified by IBAN or other account identification. It tells the receiving system exactly which account to debit. A wrong account number is a common cause of failure, so the account is checked against the treasury account list before execution. |
CdtrAcct | Creditor Account | M | The account to which liquidity is moved, identified by IBAN or other account identification. It tells the receiving system exactly which account to credit. The account must belong to the same bank or group, since camt.050 moves liquidity internally rather than to an external customer. |
TrfdAmt | Transferred Amount | M | The amount and currency of the liquidity transfer, for example EUR 5,000,000.00. It is the amount moved between the two accounts. The amount must not exceed the available balance in the source account, or the transfer will be rejected for insufficient funds. |
ExctnDt | Execution Date | M | The date on which the liquidity transfer is executed. It is normally the same business day the instruction is sent. The date drives the value dating of both account postings and must be a business day for the currency involved. |
DbtrAgt | Debtor Agent | M | The bank holding the debtor account and instructing the transfer, identified by BIC. It is responsible for checking the source balance, applying the debit and sending the instruction to the system that holds the destination account. |
CdtrAgt | Creditor Agent | M | The bank holding the creditor account, identified by BIC. It receives the instruction, checks the destination account and applies the credit. In most camt.050 flows the debtor and creditor agents are the same bank or members of the same group. |
Purp | Purpose | O | The purpose of the liquidity transfer, using a coded value such as a funding transfer or a sweep. Purpose codes support treasury reporting and help the bank classify the movement. The code must match the treasury instruction or the transfer may be posted to the wrong internal account. |
AddtlInf | Additional Information | O | Additional information about the transfer, such as the treasury instruction reference or a narrative description. It can carry the reference the treasury team uses to reconcile the movement. The receiving system uses it as a fallback matching key when the account data alone does not match. |
InstrId | Instruction Identification | M | The identification of the liquidity transfer instruction, assigned by the instructing treasury team. It lets the treasury system track the transfer through execution and settlement. It must be unique so a duplicate instruction can be detected before the funds move twice. |
EndToEndId | End to End Identification | O | The end to end identification for the transfer, which stays unchanged through the whole movement. It lets the treasury team and both account systems refer to the same transfer. It is useful when a transfer is queried by its own reference rather than by account or amount. |
ChrgsInf | Charges Information | O | Charges applied to the liquidity transfer, when the bank charges for the internal movement. It can show the amount and bearer of the fee. Treasury uses it to reconcile internal charges against its cost schedule and to query any charge it does not recognise. |
Scheme-specific rules. camt.050 is the base ISO 20022 liquidity transfer message, used mainly for internal treasury movements with no external scheme rulebook. CBPR+ does not define a liquidity scheme, so banks apply their own internal rules for cut off times, balance checks and authorisation. Domestic clearing systems may restrict camt.050 to accounts held within the same legal entity.
Valid example. Meridian Bank treasury sends a camt.050 to move EUR 5,000,000.00 from its central euro account to its nostro account at Harbour Bank on 6 November 2026, funding the afternoon payment run. The source balance is sufficient, the destination is an internal nostro account, and both accounts update at once on execution.
Invalid example. A camt.050 arrives instructing EUR 5,000,000.00 from an account that holds only EUR 2,000,000.00, with a creditor account outside the bank group. The transfer cannot be funded and the destination is not an internal account, so the instruction is rejected for insufficient funds and invalid destination.
Validation errors.
- Insufficient funds in the source account causes rejection because the transfer cannot be funded without breaching the account balance.
- Creditor account outside the bank group causes rejection because camt.050 moves liquidity internally and cannot pay an external account.
- Execution date on a non business day causes a hold because the transfer cannot be value dated when the currency system is closed.
Related messages. camt.052, camt.053, MT202, pacs.009 Core
Processing implications. The receiving system checks the source balance, the destination account and the execution date before applying the transfer. Valid transfers post immediately and both accounts update at once. Failed transfers are reported to the treasury team, which corrects the amount or account and resends the instruction.
Accounting implications. The liquidity transfer posts a debit to the source account and a credit to the destination account within the same bank or group, with no customer entry involved. Treasury records it as an internal movement between its own accounts. The entries must net to zero across the group, or the liquidity position will be misstated.
camt.052: Bank to Customer Account Report
12 fields · Has version options · Related messages listed below
camt.052 is the ISO 20022 bank to customer account report that a bank sends during the day, between final statements. It lists entries posted since the last statement, with opening and interim balances. Corporate treasuries use it to watch intraday cash, confirm expected receipts, and manage liquidity. It carries booking date, value date, amount, currency and status for each entry posted so far.
Base message vs scheme implementation. This is a base ISO 20022 message. The structure and fields below are the base definition; scheme-specific rules (CBPR+, SEPA, Fedwire, CHAPS, TIPS) may make an optional element mandatory, restrict a code set, or fix a version. Always check the scheme rulebook for the rail you are working on.
Sending and receiving participants. The sending participant is the account servicing bank that holds the customer account. The receiving participant is the account owner, usually a corporate treasury team, which uses the intraday entries to manage liquidity during the day.
Message structure. camt.052 has a group header, then one or more report blocks. Each report block holds the account, report identification, period covered, balance blocks, and a repeating block of entries with entry details. The document outline follows the standard ISO 20022 account report structure with entries grouped by account.
Message version. Selected version: camt.052.001.02. Field rules below are for the base message; scheme rules may add or restrict elements.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
GrpHdr | Group Header | M | The header with message identification, creation date and time and the account owner. It identifies the report for tracking and duplicate detection. The customer system uses it to confirm it received the correct report for the correct account and period before loading the entries. |
Rpt | Report | M | The report block holding the account, report identification, creation date and time and the period covered. One camt.052 can hold several reports for different accounts. The report identification must be unique so the customer can detect a missing or duplicate report in sequence. |
Acct | Account | M | The account the report covers, identified by IBAN or other account identification, with the currency and the account owner name. It tells the customer system which ledger account to check. A report must never be loaded against the wrong account, so this field is checked first. |
Bal | Balance | M | Balance information for the account, including opening balance, interim balance and closing balance. Each balance carries a type, amount, currency and date. The customer compares the balances with its own ledger to confirm that all entries were received and posted correctly. |
Ntry | Entry | O | One entry in the report, representing a single debit or credit to the account. It carries booking date, value date, amount, currency, status and references. A report can hold many entries. The customer matches each entry to an expected payment or receipt in its own system. |
BookgDt | Booking Date | M | The date on which the entry was booked to the account in the bank system. It may differ from the value date when an entry is booked late or back valued. Reconciliation teams use the booking date to know when the entry appeared and to track late postings. |
ValDt | Value Date | O | The date on which the funds become available for a credit or are taken for a debit. It drives interest calculation and cash flow forecasting. A value date in the future means the funds are not yet available, and the customer must not treat the entry as cleared cash. |
Amt | Amount | M | The amount and currency of the entry, with a credit or debit indicator. For example a credit of EUR 25,000.00 appears as a positive amount with a credit indicator. The customer sums the amounts to check the movement from opening to closing balance. |
CdtDbtInd | Credit Debit Indicator | M | A code showing whether the entry is a credit or a debit to the account. CRDT means money was added, DBIT means money was taken. It is essential for reconciliation, because the same amount can be a receipt or a payment depending on this indicator alone. |
Sts | Status | M | The status of the entry, normally BOOK for a booked entry or PDNG for a pending entry. BOOK means the entry is final and included in the balance. PDNG means the entry is expected but not yet final, and the customer should not reconcile against it until it becomes booked. |
NtryDtls | Entry Details | O | Detailed information about the entry, including transaction details, debtor, creditor, remittance information and charges. It gives the customer the data needed to match the entry to an invoice or payment instruction. Rich entry details reduce manual reconciliation work sharply. |
AddtlNtryInf | Additional Entry Information | O | Free text additional information about the entry, such as the bank reference or a narrative description. It can carry the end to end identification or the remittance reference. The customer uses it as a fallback matching key when structured details do not match automatically. |
Scheme-specific rules. camt.052 is the ISO 20022 equivalent of the MT942 interim report, used for intraday account reporting under CBPR+ and domestic reporting schemes. Each bank agrees the reporting frequency and intraday cut off times with the customer. The message reports account activity rather than carrying a payment instruction, so no payment scheme rules apply to its content.
Valid example. Meridian Bank sends a camt.052 to a corporate customer at 13:00 on 6 November 2026 for account 77012345, opening balance EUR 168,250.00, showing a credit of EUR 25,000.00 received that morning. The interim closing balance is EUR 193,250.00, and the treasury team uses it to confirm a supplier payment can be released that afternoon.
Invalid example. A camt.052 arrives at midday with no report identification and a closing balance that does not equal the opening balance plus the listed entries. The treasury team cannot trust the intraday position, so it discards the report and asks Meridian Bank for a corrected intraday report.
Validation errors.
- Missing report identification causes a sequence break because the customer cannot confirm the report fits the intraday series.
- Interim closing balance not equal to opening balance plus entries causes a load failure because the report is internally inconsistent.
- Entry with an invalid value date causes a repair because the treasury system cannot post the entry to the correct period.
Related messages. camt.053, MT942, camt.054, MT940
Processing implications. The customer treasury system loads the report and updates its intraday cash position with each entry, marking them provisional until the final statement arrives. Entries are matched to expected receipts and payments. A mismatch between the report balance and the forecast triggers a check with the bank before further payments are released.
Accounting implications. The camt.052 itself posts nothing, since it only reports account activity. The entries it lists were already posted to the ledger when they settled. The customer uses the report to check its intraday position, and any difference between the report and the ledger creates a reconciliation item to investigate.
camt.054: Bank to Customer Debit Credit Notification
12 fields · Has version options · Related messages listed below
camt.054 is the ISO 20022 bank to customer debit credit notification that a bank sends when a single entry is posted to an account. It tells the customer that a stated amount was debited or credited on a stated value date. Corporates use it for real time reconciliation, matching each notification to an expected payment or receipt. It carries booking date, value date, amount, currency and entry details.
Base message vs scheme implementation. This is a base ISO 20022 message. The structure and fields below are the base definition; scheme-specific rules (CBPR+, SEPA, Fedwire, CHAPS, TIPS) may make an optional element mandatory, restrict a code set, or fix a version. Always check the scheme rulebook for the rail you are working on.
Sending and receiving participants. The sending participant is the account servicing bank that posted the debit or credit. The receiving participant is the account owner, usually a corporate, which needs immediate notice that a specific entry was posted to its account.
Message structure. camt.054 has a group header, then one or more notification blocks. Each notification block holds the account, notification identification, and a repeating block of entries with entry details and an optional balance. The document outline follows the standard ISO 20022 notification structure with one entry per notification in most use.
Message version. Selected version: camt.054.001.02. Field rules below are for the base message; scheme rules may add or restrict elements.
| Field | Name | M/O/C | Meaning |
|---|---|---|---|
GrpHdr | Group Header | M | The header with message identification, creation date and time and the account owner. It identifies the notification for tracking and duplicate detection. The customer system uses it to confirm it received the correct notification for the correct account before processing the entry. |
Ntfctn | Notification | M | The notification block holding the account, notification identification, creation date and time. One camt.054 can hold several notifications for different accounts. The notification identification must be unique so the customer can detect a missing or duplicate notification in sequence. |
Acct | Account | M | The account the notification covers, identified by IBAN or other account identification, with the currency and the account owner name. It tells the customer system which ledger account the debit or credit relates to. A notification must never be loaded against the wrong account. |
Ntry | Entry | M | One entry in the notification, representing a single debit or credit to the account. It carries booking date, value date, amount, currency, status and references. A notification normally holds one entry, but it can hold several entries for the same account and period. |
BookgDt | Booking Date | M | The date on which the entry was booked to the account in the bank system. It may differ from the value date when an entry is booked late or back valued. Reconciliation teams use the booking date to know when the entry appeared and to track late postings. |
ValDt | Value Date | O | The date on which the funds become available for a credit or are taken for a debit. It drives interest calculation and cash flow forecasting. A value date in the future means the funds are not yet available, and the customer must not treat the entry as cleared cash. |
Amt | Amount | M | The amount and currency of the entry, with a credit or debit indicator. For example a credit of USD 367,574.90 appears as a positive amount with a credit indicator. The customer sums the amounts to check the movement and to spot any missing entry. |
CdtDbtInd | Credit Debit Indicator | M | A code showing whether the entry is a credit or a debit to the account. CRDT means money was added, DBIT means money was taken. It is essential for reconciliation, because the same amount can be a receipt or a payment depending on this indicator alone. |
Sts | Status | M | The status of the entry, normally BOOK for a booked entry or PDNG for a pending entry. BOOK means the entry is final and included in the balance. PDNG means the entry is expected but not yet final, and the customer should not reconcile against it until it becomes booked. |
NtryDtls | Entry Details | O | Detailed information about the entry, including transaction details, debtor, creditor, remittance information and charges. It gives the customer the data needed to match the entry to an invoice or payment instruction. Rich entry details reduce manual reconciliation work sharply. |
AddtlNtryInf | Additional Entry Information | O | Free text additional information about the entry, such as the bank reference or a narrative description. It can carry the end to end identification or the remittance reference. The customer uses it as a fallback matching key when structured details do not match automatically. |
Bal | Balance | O | Balance information for the account after the notified entry, including the closing balance with type, amount, currency and date. The customer compares the balance with its own ledger to confirm that the entry was posted correctly and no other entry was missed. |
Scheme-specific rules. camt.054 is the ISO 20022 equivalent of the MT900 and MT910 confirmations, used for real time debit and credit notifications under CBPR+ and domestic reporting schemes. Each bank agrees with the customer whether to send camt.054, MT900, MT910, or both for the same entry. The message reports an account posting rather than carrying a payment instruction.
Valid example. Banco Santander Madrid sends a camt.054 to BNP Paribas Paris notifying a credit of USD 367,574.90 on 6 November 2026 to account 44098712, reference COV77812. The value date matches the settlement date, the amount matches the expected cover receipt, and BNP Paribas reconciles the credit and releases the customer payment.
Invalid example. A camt.054 arrives notifying a credit of USD 367,574.90 but the receiving customer expected the credit on a different value date and cannot find a matching account. The notification cannot be reconciled, so it sits unmatched until Meridian Bank confirms the account number and the value date.
Validation errors.
- Unknown account number causes a reconciliation break because the customer cannot match the notification to any account it holds.
- Credit amount differing from the expected receipt causes an exception because the customer cannot confirm full settlement of the underlying payment.
- Notification identification duplicated causes a duplicate warning because the customer system cannot tell whether the entry was posted once or twice.
Related messages. camt.053, camt.052, MT900, MT910
Processing implications. The customer system matches the notification against expected receipts and payments by account, amount, value date and reference. Matched notifications close the expected item automatically. Unmatched notifications go to an exceptions queue, and the customer queries the bank before treating the entry as a confirmed receipt or payment.
Accounting implications. The camt.054 itself posts nothing, since the debit or credit was already posted by the bank. The customer uses it to confirm its own ledger entry for the same movement, matching amount and value date. Any difference creates a reconciliation break that must be resolved before the books can close.