MT940 Definition.

The SWIFT MT end-of-day account statement: long established and compact, but poorly structured, since transaction details sit in field 86 as semi-free text, which makes automation hard. The natively structured ISO 20022 camt.053 is gradually replacing it. Many corporate treasury teams still use it because their existing systems have not been migrated.

See also

→ camt.053→ SWIFT→ EBICS

Where this term appears

GuidePayments in GermanyGuidePayments in Germany, Austria, and SwitzerlandGuideReconciliation and reporting around the worldGuideReconciliation principlesGuideSwift MT and the MT940 statementGuideISO 20022 for statements: the camt messagesGuideFrance’s CFONB bank file formatsGuideImplementing reconciliationCourseReconciliation and bank file formatsCourseTreasury and cash management

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