SWIFT message types
SWIFT message types are the format or schema used to send messages to financial institutions on the SWIFT network. The original message types were developed by SWIFT and a subset was retrospectively made into an ISO standard, ISO 15022. In many instances, SWIFT message types between custodians follow the ISO standard. This was later supplemented by a XML based version under ISO 20022.
Composition of MT number
SWIFT messages consist of five blocks of data including three headers, message content, and a trailer. Message types are crucial to identifying content.All SWIFT messages include the literal "MT". This is followed by a three-digit number that denotes the message category, group and type. Consider the following two examples.
Example 1
MT304
- The first digit represents the category. A category denotes messages that relate to particular financial instruments or services such as precious metals, treasury, or traveller's cheques. The category denoted by is treasury markets
- The second digit represents a group of related parts in a transaction life cycle. The group indicated by is a financial institution transfer.
- The third digit is the type that denotes the specific message. There are several hundred message types across the categories. The type represented by is a notification.
Example 2
MT103
- The first digit represents the category. The category denoted by 1 is customer payments and cheques.
- The second digit represents a group of related parts in a transaction life cycle. The group indicated by 0 is a financial institution transfer.
- The third digit is the type that denotes the specific message. There are several hundred message types across the categories. The type represented by 3 is a notification.
Overview of SWIFT MT categories
The table below shows the different categories and the message type descriptions.| Category | Message type | Description | Number of message types |
| 0 | MT0 | System messages | - |
| 1 | MT1 | Customer payments and cheques | 19 |
| 2 | MT2 | Financial institution transfers | 18 |
| 3 | MT3 | Treasury markets | 27 |
| 4 | MT4 | Collection and cash letters | 17 |
| 5 | MT5 | Securities Markets | 60 |
| 6 | MT6 | Treasury markets – metals and syndications | 22 |
| 7 | MT7 | Documentary credits and guarantees | 29 |
| 8 | MT8 | Traveller's cheques | 11 |
| 9 | MT9 | Cash management and customer status | 21 |