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
A MT304 message is considered an "Advice/Instruction of a Third Party Deal" and it used to advise of or instruct the settlement of a third party foreign exchange deal. For example, an asset manager who executed a FX transaction with a broker would send a MT304 instruction to the custodian bank of the client.
Example 2
MT103
A MT103 message is considered a "Single Customer Credit Transfer" and is used to instruct a funds transfer.

Overview of SWIFT MT categories

The table below shows the different categories and the message type descriptions.
CategoryMessage typeDescriptionNumber of message types
0MT0System messages-
1MT1Customer payments and cheques19
2MT2Financial institution transfers18
3MT3Treasury markets27
4MT4Collection and cash letters17
5MT5Securities Markets60
6MT6Treasury markets – metals and syndications22
7MT7Documentary credits and guarantees29
8MT8Traveller's cheques11
9MT9Cash management and customer status21

ISO 15022 MT

Although ISO 15022 message types are different in their structure than the SWIFT MT, the naming convention remains the same.