Wednesday, 3 June 2020

How to read MT940 bank statement format

In this post we will see in detail how to read a MT940 bank statement format in detail by ourselves.

MT940 bank statement file format/specification in detail

In this post we will see a sample MT940 bank statement in detail and will also see how to read a mt940 bank statement format in detail. We will also see all MT940 bank statement format specifications in details.

Sample MT940 bank statement format/Specifications

First of all lets see an example of sample MT940 bank statement file. How does MT940 bank statement/format file looks like.

Below is the sample MT940 bank statement file for oracle.

How to read MT940 bank statement format/ MT940 file format sample/example

Now Let us know How to read MT940 bank statement format in detail

All tags in above MT940 bank statement format/sample/example are explained below in detail

20 : This is transaction reference number

It has statement generation date along with few characters. This is mandatory tag.

25: This is Account number

This is bank Account number for the bank. This should exactly match the account number in system. This is also a mandatory tag.

28C: This is statement number Tag

This is automatic generated by bank and this is your bank statement number. This is also mandatory tag.

60F or 60M: This is opening balance Tag

This is a mandatory tag. This shows the the opening balance for that bank account.

You can read it like this C/D(credit or debit) followed by date, followed by currency, followed by amount

See the example for reference

C190913GBP997724,74 ( here C shows it’s credit balance then we have date at the time of this balance, then currency, then amount, “,” indicates .(decimal) and 74 comes after decimal ))

61: This is actual statement line Tag

:61:1909160916D3375,00NTRFFT19259JWXRF//FT19259JWXRF

How to read this : 190916 is date 19^th sep 2016, then we have month and year again, then D indicates it’s a debit amount i.e payment and then we have actual amount, then we have transaction type code “NTRF” then we have customer reference (used for reconciliation).

86: This is additional information tag

This will have any additional information relate to payment and receipts. This is Optional Tag.

62F or 63M: This is closing balance tag

This is mandatory tag. This will show the closing balance for the account.

64: This shows Funds available to the owner

This is optional tag. This shows the funds available to the owner