List of MT940
Transaction Type
Identification Codes 2
List of MT940 Transaction Type Identification Codes ([Link])
One of the most popular posts on this blog is the MT940 Format Overview.
The Mt940 overview has prompted all kinds of questions and one of the most
recurring requests is for a list of the Transaction Type codes – the official
term for these are the SWIFT Transaction Type Identification Codes or
sometimes they are called Business Transaction Codes (BTC). This post gives
you a quick rundown of the what the Transaction Type code is and the codes
that you should expect to see in your MT940 bank statement.
Why do i need to bother about
Transaction Type Codes?
As the name suggests the Transaction Type Codes help to identify the type of
transaction being reported on the bank statement. These codes help your
Treasury team identify the transaction on the bank statements and in turn
enables them to allocate the transaction appropriately during the bank
statement posting and reconciliation process.
Remember the bank statement indicates everything that is happening on a
given account, and it goes without saying that knowing what each
transaction represents is critical. Especially given the increase in actual, and
attempted, fraudulent payments. But as the recent SWIFT related
hacks revealed, with the right malware even a bank statement – or the bank
statement printed report – can be manipulated.
Where can i find the Transaction Type
Code
These Transaction Type codes are indicated in tag 61, sub-tag 6, and are
prefixed with either “N” or “F”
1. 6!n Value Date (YYMMDD)
2. [4!n] Entry Date (MMDD)
3. 2a Debit/Credit Mark
4. [1!a] Funds Code (3rd character of the currency code, if needed)
5. 15d Amount
6. 1!a3!c Transaction Type Identification Code
7. 16x Customer Reference
8. [//16x] Bank Reference
9. [34x] Supplementary Details (this will be on a new/separate line)
What Transaction Type Codes are being
used?
This is what you’re really looking for – I hope this helps you understand the
codes being used and what they mean:
Transaction Type Code – Description
BNK – Securities Related Item – Bank fees
BOE – Bill of exchange
BRF – Brokerage fee
CAR – Securities Related Item – Corporate Actions Related (Should only
be used when no specific corporate action event code is available)
CAS – Securities Related Item – Cash in Lieu
CHG – Charges and other expenses
CHK – Cheques
CLR – Cash letters/Cheques remittance
CMI – Cash management item – No detail
CMN – Cash management item – Notional pooling
CMP – Compensation claims
CMS – Cash management item – Sweeping
CMT – Cash management item -Topping
CMZ – Cash management item – Zero balancing
COL – Collections (used when entering a principal amount)
COM – Commission
CPN – Securities Related Item – Coupon payments
DCR – Documentary credit (used when entering a principal amount)
DDT – Direct Debit Item
DIS – Securities Related Item – Gains disbursement
DIV – Securities Related Item – Dividends
EQA – Equivalent amount
EXT – Securities Related Item – External transfer for own account
FEX – Foreign exchange
INT – Interest
LBX – Lock box
LDP – Loan deposit
MAR – Securities Related Item – Margin payments/Receipts
MAT – Securities Related Item – Maturity
MGT – Securities Related Item – Management fees
MSC – Miscellaneous
NWI – Securities Related Item – New issues distribution
ODC – Overdraft charge
OPT – Securities Related Item – Options
PCH – Securities Related Item – Purchase (including STIF and Time
deposits)
POP – Securities Related Item – Pair-off proceeds
PRN – Securities Related Item – Principal pay-down/pay-up
REC – Securities Related Item – Tax reclaim
RED – Securities Related Item – Redemption/Withdrawal
RIG – Securities Related Item – Rights
RTI – Returned item
SAL – Securities Related Item – Sale (including STIF and Time deposits)
SEC – Securities (used when entering a principal amount)
SLE – Securities Related Item – Securities lending related
STO – Standing order
STP – Securities Related Item – Stamp duty
SUB – Securities Related Item – Subscription
SWP – Securities Related Item – SWAP payment
TAX – Securities Related Item – Withholding tax payment
TCK – Travellers cheques
TCM – Securities Related Item – Tripartite collateral management
TRA – Securities Related Item – Internal transfer for own account
TRF – Transfer
TRN – Securities Related Item – Transaction fee
UWC – Securities Related Item – Underwriting commission
VDA – Value date adjustment (used with an entry made to withdraw an
incorrectly dated entry – it will be followed by the correct entry with the
relevant code)
WAR – Securities Related Item – Warrant
What is an MT940?
MT940 is an Electronic Bank Account Statement, developed by
SWIFT. It consists the details of all transactions done through a
bank account. It is used to import the transaction details from a
bank account to ERP system and is delivered in text format.
1st Sample MT940 File:
:20:20190731
:25:1122334/1234567890
:28C:001
:60F:D190731GBP1360,80
:61:1907310731CP3952,80FFPC913000381
:86:999/00FPC68354 X XXXXXX 913000381
/20BGCFrom: 09-01-18 20376333
:62F:C190731GBP2592,00
:64:C190731GBP2592,00
Meaning of these rows:
Header Details:
:20: – Statement Date
:25: – Account Identification Bank Key / Account Number, or It can also have IBAN number of
the Account for which the statement is generated.
:28C: – Bank Statement Number
:60F: – Opening Balance(D:Debit + Date:YYMMDD + Currency + Amount)
Transaction Details:
:61: – Transaction Line( Date:YYMMDD + PostingDate:MMDD + C:Credit +
3rdCharacterOfCurrency,P for GBP + Transaction Amount + SomeFixed Value)
:86: – Transaction Details (TransactionCode + Transaction Type + otherDetails
Footer Details:
:62F: – Closing Balance (C: Credit + DateYYMMDD + Currency + Amount)
:64: – Available Balance (C:Credit + Date:YYMMDD + Currency + Amount)
:60M: – Opening Balance(D:Debit + Date:YYMMDD + Currency + Amount)
:62M: – Closing Balance (C: Credit + DateYYMMDD + Currency + Amount)
F65 Forward Available Balance.
F60a Opening Balance, F62a Closing Balance (Booked Funds)
2nd Sample MT940 File: (example taken from this link)
{1:F01BPHKPLPKXXX0000000000}{2:I940BOFAUS6BXBAMN}{4:
:20:TELEWIZORY S.A.
:25:BPHKPLPK/320000546101
:28C:00084/001
:60F:C031002EUR5000,00
:61:0310201020D1088,41FTRFREF 12345678/2003//8327000090031790 Transfer
:86:020?00Wyplata/przelew?20DEUTSCHE ELEKTROAPPARATUR?21OBENSTRAS SE 4
MUNCHEN?22OCMT/EUR1088,41?23CHGS/SHA/EUR20,00?24FAKTURA 333 /2003 ZAPLATA
ZA?25FABRYKATY DO TUB 200 SZTUK?26GZX 76 I 300 SZT UK GZY 77 T?27RANZYSTORY 300
SZTUK BT34SX?28OPORNIKI 500 SZTUK W Q2?29232FX?30HYVEDEMM700?
31701890012872?38DE09700202701890012872
:62F:C031020EUR3891,59
-}
Meaning of these Rows:
1: 2: 4: – SWIFT Header
:20: – Short Name of Account Holder
:25: – Account Identification, same as described above.
In case you have any negative observation or recommendation for change, kindly suggest
by ..... date. Else we shall treat this as the new ...... format which will be made live from ....
date
