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MT940 and SWIFT MT940

Hi All,

whether the bank statement - Formats MT940 and SWIFT MT940 are same or do they differ from each other

Thank you and Kindest Regards

Srikaanth

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  • author's profile photo Former Member
    Former Member
    Posted on Apr 09, 2012 at 02:52 PM

    Hey,

    As far as my understanding goes.. MT940 and SWIFT MT940 are same.

    The MT940 (MT = Message Type) electronic account statement is an international standard developed by S.W.I.F.T.(Society for Worldwide Interbank Financial Telecommunication) in Brussels for the paperless transmission of account information. This standard is used by banks all over the world. In particular, MT940 is used to provide bank information to clients cash management, treasury systems and accounting applications.

    Regards,

    Lakshmi

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