MT940 Format Guide
Learn the SWIFT field structure, inspect a working MT940 example, validate statement controls, and understand how MT940 differs from MT942 and MT950.
Updated August 27, 2026 · Includes a synthetic parser-verified sample and primary SWIFT references
Parser-verified reference
MT940 vs MT942 vs MT950
These Category 9 messages overlap, but they are not interchangeable. The distinction is message purpose and reporting context—not merely the file extension a bank chooses.
| Message | SWIFT name | Timing | Typical reporting context | ISO 20022 counterpart |
|---|---|---|---|---|
| MT940 | Customer Statement Message | Booked statement reporting, commonly end of day | Customer and corporate account reporting arrangements | camt.053 |
| MT942 | Interim Transaction Report | Activity during a specified interim period | Intraday balance and transaction visibility before final reporting | camt.052 |
| MT950 | Statement Message | Booked statement reporting, commonly end of day | Account-owner reporting; often market-infrastructure or interbank contexts | camt.053 |
Reporting relationships and bank implementations vary. Terminology follows SWIFT’s cash-management message descriptions; confirm the receiver’s implementation guide before generating or consuming a message.
Download and validate the MT940 example
The downloadable .sta file is synthetic and is parsed by the same production engine used by the converters during every build.
- Transactions
- 2
- Currency
- EUR
- Debits / credits
- 1 / 1
- Net movement
- €3,110.50
MT940 validation checklist
- 1Identify the statement with
:20:, account with:25:, and statement sequence with:28C:. - 2Parse opening and closing balance fields (
:60F:/:60M:and:62F:/:62M:) with a valid date, currency, and comma-decimal amount. - 3Validate every
:61:statement line and associate its following:86:narrative using the bank’s own subfield rules. - 4Prove the control equation: opening balance + signed transaction movement = closing balance.
- 5Compare transaction count, debit total, credit total, and references after conversion before importing the output.
The PrimeConnect parser checks statement blocks and field syntax. It does not certify a bank’s proprietary :86: mapping or automatically prove the opening-to-closing balance equation.
Choose the output you actually need
PrimeConnect supports MT940 as an input. Pick a destination based on the receiving accounting system rather than renaming the source file.
MT940 to QBO
Generate a QuickBooks Web Connect file with stable transaction IDs.
Open converterMT940 to CSV
Create a reviewable table for Excel, Sheets, or downstream mapping.
Open converterMT940 to IIF
Create balanced QuickBooks Desktop transaction blocks.
Open converterLooking for QFX, OFX, QIF, or QBO to MT940? Those formats may not contain the statement controls an MT940 recipient expects. PrimeConnect does not currently publish a reverse MT940 generator.
MT940 format questions
What is the MT940 format?+
MT940 is a SWIFT customer-statement message. It is a tagged text format that carries an account identifier, statement number, opening and closing balances, transaction lines, and transaction narratives. Common fields include :20:, :25:, :28C:, :60F:, :61:, :86:, and :62F:.
What is the difference between MT940 and MT950?+
Both can report balances and transactions. SWIFT names MT940 the Customer Statement Message and MT950 the Statement Message. MT940 is associated with customer and corporate reporting arrangements, while SWIFT notes that MT950 is mostly used by market infrastructures. Both map to camt.053 in ISO 20022 reporting.
What is the difference between MT940 and MT942?+
MT940 is a statement message used for booked statement reporting, commonly at end of day. MT942 is an Interim Transaction Report for balance and transaction activity during a specified period before the final statement. In ISO 20022 reporting, MT940 maps to camt.053 while MT942 maps to camt.052.
How can I validate an MT940 file?+
Check that the statement has the expected core tags, that every :61: line follows the bank’s field rules, that dates and comma-decimal amounts parse, and that opening balance plus signed entries equals closing balance. PrimeConnect’s MT940 converters perform a local syntax and transaction-parse check, but a reviewer must still verify the balance equation and bank-specific :86: conventions.
Where can I download an MT940 sample file?+
This guide includes a synthetic .sta sample with two transactions, an opening balance, a closing balance, account identification, and transaction narratives. It contains no real bank or customer data and can be used to test a parser or conversion workflow.
Can QFX, OFX, QIF, or QBO be converted back to MT940?+
A technically generated MT940 file may be possible, but consumer interchange files often lack the statement number, balance controls, account-owner context, and bank-specific :86: structure expected by an MT940 recipient. PrimeConnect currently supports MT940 as an input and does not publish a reverse MT940 generator.
Overview
MT940 stands for "Message Type 940" within the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network. SWIFT assigns message type numbers to different categories of financial communication, and the 9xx series covers cash management and customer statements. MT940 specifically delivers end-of-day account statements from a bank to its corporate customers.
Unlike interchange formats such as OFX and QBO, MT940 uses a structured text format with tagged fields. Each field is identified by a colon-delimited tag number (like :20:, :25:, :61:), followed by the field data in a precisely defined format. This compact, text-based approach made MT940 efficient for transmission over the SWIFT network, where message size historically mattered.
MT940 has been the backbone of corporate treasury operations for decades. Companies use these statements to automate cash positioning, reconcile bank accounts, and feed transaction data into ERP systems like SAP and Oracle. A single MT940 file can contain all transactions for a given account on a given day, along with opening and closing balances.
CAMT.053 is the ISO 20022 counterpart to MT940 for statement reporting. SWIFT's published roadmap lists MT940 reporting as deprecated but still supported after November 2025, so businesses may need to handle both formats for some time. Converting MT940 to QBO format with PrimeConnect lets you bring these international bank statements into QuickBooks® without manual re-entry.
Key Features
SWIFT Standard
Defined and maintained by SWIFT as part of their FIN messaging framework. Used by 11,000+ financial institutions across 200+ countries for standardized statement delivery.
Structured Field Tags
Uses numbered tags (:20: for reference, :25: for account, :60F: for opening balance, :61: for transactions, :62F: for closing balance, :86: for details) ensuring consistent parsing.
Global Coverage
The dominant bank statement format in Europe, Asia-Pacific, Middle East, and Africa. Particularly entrenched in countries with strong corporate banking infrastructure like Germany, Netherlands, and Singapore.
Legacy Compatible
Text-based format that works with older systems and can be processed by virtually any programming language or ERP system without XML parsing libraries.
MT940 File Structure
An MT940 message consists of tagged fields, each prefixed with a colon and a tag number. The format is strict — each tag has a defined position and data format. Here is a simplified example:
:20:STMT20260215 :25:DEUTDEFF/DE89370400440532013000 :28C:00125/001 :60F:C260214EUR12500,00 :61:2602150215D89,50NTRFNONREF//BANK-REF-001 Electric Utility Payment :86:020?00Electric Utility Co?20Monthly bill ?21Account 4456789?30COBADEFF?31DE123456 :61:2602150215C3200,00NTRFNONREF//BANK-REF-002 Payroll Deposit :86:020?00Client Corp GmbH?20Invoice 2026-0042 ?21Payment received?30COBADEFF?31DE987654 :62F:C260215EUR15610,50 :64:C260215EUR15610,50
Key tags: :20: Transaction reference, :25: Account identification, :60F: Opening balance, :61: Statement line (transaction), :86: Information to account owner, :62F: Closing balance.
Understanding MT940 Fields
The :61: tag is the core of every MT940 statement — it represents a single transaction. The field packs date, amount, transaction type, and references into a compact string. For example, 2602150215D89,50NTRFNONREF means: value date February 15, 2026; entry date February 15; Debit; amount 89.50; transaction type NTRF (transfer); reference NONREF.
The :86: tag that follows each :61: line provides human-readable details about the transaction. Banks use sub-fields (prefixed with ?) to structure this information: ?20-?29 for remittance details, ?30 for the counterparty bank BIC, and ?31 for the counterparty account number.
Balance tags use a specific format: C or D (credit/debit), followed by the date in YYMMDD format, the currency code, and the amount with a comma as the decimal separator (European convention). The :60F: opening balance and :62F: closing balance must mathematically reconcile with the sum of all :61: transactions.
Compatible Systems
MT940 is natively supported by enterprise financial systems and can be converted for use with accounting software:
SAP ERP / S/4HANA
All editions
Oracle Financials
Cloud & on-premise
Microsoft Dynamics
365 Finance
Treasury Systems
Kyriba, GTreasury, etc.
Banking Portals
Most European banks
QuickBooks® (via QBO)
Convert with PrimeConnect
Note: CAMT.053 is the ISO 20022 statement counterpart to MT940. SWIFT continues to support legacy reporting messages after the payment-message coexistence milestone, so migration timing depends on the bank and reporting service. New implementations should evaluate CAMT.053 while maintaining MT940 where required.
MT940 vs CAMT.053
Format
MT940 uses structured text with colon-delimited tags. CAMT.053 uses ISO 20022 XML with nested elements. XML provides richer data structures and is easier for modern systems to parse.
Data Richness
MT940's :86: field is limited to 6 lines of 65 characters. CAMT.053 offers structured remittance information with dedicated XML elements for creditor/debtor details, references, and purpose codes.
Character Set
MT940 is restricted to the SWIFT character set (Latin letters, digits, limited special characters). CAMT.053 supports full Unicode via XML encoding, handling international characters natively.
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