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SWIFT message types are the format or schema used to send messages to financial institutions on the SWIFT network. The original message types were developed by SWIFT and a subset was retrospectively made into an ISO standard, ISO 15022.
MT940 is a specific SWIFT message type used by the SWIFT network to send and receive end-of-day bank account statements. [ 1 ] Message Type 940 is the SWIFT standard ( Banking Communication Standard ) for the electronic transmission of account statement data.
ISO 15022 is an ISO standard for securities messaging used in transactions between financial institutions. Participants in the financial industry need a common representation of the financial transactions they perform and this standard defines general message schema, which in turn are used by organizations to define messages in a complete and unambiguous way. [1]
The information used by the external site of societe generale is available or can be obtained from Swift external portal too. Hence i would suggest , this article carries the information pertaining to MT940 and societe general is not the owner of this MT message.
Difference between MT202 and MT202 COV [ edit ] As previously stated, MT202 was previously used to fund bank-to-bank payments, as well as cover payments made in conjunction with MT103 messages.
BAI, or the BAI file format, is a file format for performing electronic cash management balance reporting. The BAI format was developed and previously maintained by the Bank Administration Institute (BAI). [1]