MT940 is a specific
SWIFT message type used by the
SWIFT
Swift or SWIFT most commonly refers to:
* SWIFT, an international organization facilitating transactions between banks
** SWIFT code
* Swift (programming language)
* Swift (bird), a family of birds
It may also refer to:
Organizations
* SWIF ...
network to send and receive end-of-day
bank account statement
A bank statement is an official summary of financial transactions occurring within a given period for each bank account held by a person or business with a financial institution. Such statements are prepared by the financial institution, are nu ...
s.
Message Type 940 is the
SWIFT
Swift or SWIFT most commonly refers to:
* SWIFT, an international organization facilitating transactions between banks
** SWIFT code
* Swift (programming language)
* Swift (bird), a family of birds
It may also refer to:
Organizations
* SWIF ...
standard (
Banking Communication Standard) for the electronic transmission of account statement data. In various
online banking
Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institut ...
programs, MT940 is used as an
interface
Interface or interfacing may refer to:
Academic journals
* ''Interface'' (journal), by the Electrochemical Society
* '' Interface, Journal of Applied Linguistics'', now merged with ''ITL International Journal of Applied Linguistics''
* '' Inter ...
to other programs (e.g. for
accounting
Accounting, also known as accountancy, is the process of recording and processing information about economic entity, economic entities, such as businesses and corporations. Accounting measures the results of an organization's economic activit ...
), with which the account statement data are processed further.
The MT formats (Message Types, MT) currently used in the SWIFT community, which also include MT940, are to be replaced in the long term by the
XML
Extensible Markup Language (XML) is a markup language and file format for storing, transmitting, and reconstructing data. It defines a set of rules for encoding electronic document, documents in a format that is both human-readable and Machine-r ...
formats described in the
ISO 20022
ISO 20022 is an ISO standard for electronic data interchange between financial institutions. It describes a metadata repository containing descriptions of messages and business processes, and a maintenance process for the repository content. T ...
standard to achieve global unification (see also
:de:Camt-Format).
External links
MT940 (format specifications)
References
Society for Worldwide Interbank Financial Telecommunication
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