Overview of SWIFT MT101 and 103,MT 940,942

Hi guys ,

Pls find below good article which is useful for Interviews BOB .

MT 940:
MT 940 in banking Terminology is SWIFT MT940 . which is a Customer Statement Message . If customer requests for Statement Bankers can generate MT 940 .

:1 ,:2,:4 - SWIFT header

: 20 - Short Name of Account Owner
: 25: IBAN,SWIFT BIC, Account Sort code information
:28C - Staement Sequence Number

60F: Opening Balance of Accoutn whether it is Credit or Debit

61 : statement Line
86 : info to acc owner

MT 942:
This is a message format used for Iterim Transaction Report

:1,:2,:4 - SWIFT header format

: 20 - Account Holder short name
: 28C : Satement sequence Number
:34 F : Floor amount Value
13D: Date and time when  info was created
61 : staement Line

90D: Credit Txn  summary
90C: Debit Txn summary
86 : info acc owner

MT 101 :

This is a message  type  used to request for transfer of Money
Lets Assume  One company is located in different countries . Lets take it as A  country  has Bank A , B country has a Bank B . So the owner is in A country . But just want to make a payments of employee salaries in Country B from Bank B . So that time he can request for Tranfer of money from A country .
This is exact scenario for generating MT 101

MT 103 :

This message type is used for transfer of money  between two different banks or institutions .

Enter you DOB ,Time and Place