The SWIFT MT940 is called Customer Statement Message. It is basically an account statement and therefore provide detailed information about all entries booked to an account. It can be sent: either directly to the account owner – In the SWIFT world account owners are banks or corporations. or to financial institution authorised by account owner […]
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SWIFT MT950 Statement Message – Detailed analysis
The SWIFT MT950 is an account statement sent by a Bank to its customer. We are all familiar with account statements, so it is easy to understand the content of a SWIFT MT950 Statement message. An account statement contains an opening balance, the debit and credit entries booked to the account and a closing balance. […]