What is MT940? Format and uses explained

MT940 is the SWIFT message for a customer account statement: a plain text file of numbered tags that holds an account's opening balance, its transactions and the closing balance. Banks write it in their own variants, so an MT940 file that one program reads may not suit another.

What is in an MT940 file?

Tag	Holds
`:20:`	statement reference
`:25:`	account identification, which may be an IBAN
`:28C:`	statement number
`:60F:`	opening balance, with date and currency
`:61:`	one transaction: date, debit or credit, amount, type
`:86:`	the transaction's description, in a bank-specific layout
`:62F:`	closing balance

The standard is published by SWIFT (SWIFT); the layout of the :86: field differs by bank. Files often end in .sta, .mt940 or .txt.

When is MT940 used?

To load bank transactions into accounting software that does not connect to the bank directly. Some software accepts only MT940 files that come from the bank itself; Moneybird, for example, says self-made MT940 files often fail and accepts only official bank files (Moneybird). Check your software's import rules first.

What can Klarbon do with MT940?

Klarbon reads MT940 files and writes MT940 from supported structured bank statements. It checks that the balances reconcile before download; the same unlock includes CSV, Excel, CAMT.053 and OFX. Reading PDF statements is not available yet.

Frequently asked questions

What does an MT940 file look like?

Plain text with numbered tags. For example, :60F: holds the opening balance, :61: a transaction, :86: its description and :62F: the closing balance.

Why does my software reject an MT940 file?

Banks write MT940 in their own variants, especially in the :86: description field, and some software accepts only files that come straight from a bank. Check what your software accepts first.

Is MT940 being replaced?

CAMT.053 is an ISO 20022 XML statement alternative. Which one to use depends on what your bank exports and your software imports.

What is MT940?