ANZ SWIFT Reporting - MT940
ANZ provides your organisation with a service called ANZ SWIFT Reporting - MT940. ANZ SWIFT Reporting - MT940 is an electronic bank statements that are formatted in an internationally recognised standard and transmitted via the SWIFT network. This international standard allows customers who hold accounts with multiple banks the ability to have a standardised way of sending statement information on their bank accounts.
Summary of Changes
There are four changes to the message related to this service:
- Block number 3 – Message reference will now populate
- Tag :28C: - Statement Number / Sequence Number will no longer contain preceding zeros, e.g., 68/1
- Tag :61: - Statement Line will include different transaction type ID codes in some instances and enriched data
- Tag :86: - Supplementary details will include enriched data along with customer and bank reference
The changes to the ANZ SWIFT Reporting - MT940 service have the following benefits:
- Enriched transaction data: Additional details are included in the transaction narrative, allowing improved reporting and better-informed decision-making.
- Opportunity to upgrade to the global ISO file standard: As a result of upgrading to the latest ANZ SWIFT Reporting - MT940 Host-to-Host service, customers can upgrade to the future standard file structure - ISO20022, which provides flexibility and even greater data enrichment.
Currently, the ISO20022 file format is not available. Please contact your Account Manager if this upgrade interests your organisation.
What is in the message
The ANZ SWIFT Reporting - MT940 message contains 4 blocks in the SWIFT message, and a number of Tags which include Field Name, Field Description and SWIFT Values.
All customers will be migrated to the currently registered ANZ SWIFT Reporting - MT940 message type.
Frequency and Timing
The electronic messages are sent once a day. The timing and frequencies remain the same.
The ANZ Swift Reporting - MT940 consist of details of all transactions processed on your bank account. The messages are sent via Fileactive and are delivered to your organisation system via the SWIFT network.