What an MT940 represents
An MT940 is a customer account statement in tagged SWIFT text. The message combines statement-level fields with repeated transaction lines. Exact content can vary because banks often apply proprietary rules to transaction codes and narrative information.
Common MT940 fields
| Field | Purpose | What to check |
|---|---|---|
:20: | Transaction reference | Use the reference to identify and trace the statement. |
:25: | Account identification | Confirm the account or IBAN matches the expected statement. |
:28C: | Statement/sequence number | Check continuity and whether multiple pages belong together. |
:60F: | Final opening balance | Read debit/credit mark, date, currency and amount together. |
:60M: | Intermediate opening balance | Used when a statement continues across messages. |
:61: | Statement transaction | Inspect dates, debit/credit direction, amount, transaction code and references. |
:86: | Information to account owner | Interpret using the bank's specification where proprietary subfields appear. |
:62F: | Final closing balance | Confirm currency and balance continuity. |
:62M: | Intermediate closing balance | Expect another statement message or page. |
:64: | Closing available balance | Do not confuse available balance with booked balance. |
How to read field 61
Field 61 compresses several values into one transaction line. It can include value date, entry date, debit or credit mark, funds code, amount, transaction type, customer reference and bank reference. The exact split depends on the permitted field syntax and the bank's implementation.
Why field 86 varies
Field 86 supplies additional information about the preceding field 61 entry. Some banks use unstructured narrative, while others use proprietary codes and delimiters for counterparties, references or remittance information. A generic parser should preserve the original value even when it presents a readable interpretation.
Balancing the statement
Opening and closing balances identify their debit or credit position, date, currency and amount. A reconciliation workflow should compare those balances with the signed total of transaction entries and account for statement pages, reversals and any bank-specific treatment.
Fastest way to inspect MT940
Paste a redacted statement into the MT940 viewer to see its available balances, entries and references, or use the MT940 to CAMT.053 converter to create a reviewable ISO 20022 draft.