A Practical Guide to the Bank Statement CAMT.053 Format 23

Following on from the posts about the BAI2 and MT940 bank statement formats, I have had a few requests to provide an overview of the camt.053 format. I will not go into the details of each tag within the CAMT.053 format – for that you should ask your bank(s) to provide you with a detailed CAMT.053 ...

List of the NCC – National Clearing Codes 18

In the post a Simple Guide to the SWIFT MT101 Format there is reference to tag 57 – Account with Institution. On the whole, you should use 57A which requires the BIC value. But for some domestic transactions you need to use the 57C option, and must indicate the National Clearing Code. Sometimes if you wish ...

List of MT940 Transaction Type Identification Codes 8

One of the most popular posts on this blog is the MT940 Format Overview. The Mt940 overview has prompted all kinds of questions and one of the most recurring requests is for a list of the Transaction Type codes – the official term for these are the SWIFT Transaction Type Identification Codes or sometimes they are ...

10 Key Benefits of XML Payments for Corporates 3

XML payments are increasingly becoming – if not already – THE global standard format for corporate to bank payments. There are many reasons for the growing XML adoption rates and in this post i thought i would explain 10 of the key benefits of XML payments. XML Payments – A Quick Introduction Regular readers of ...

MT940 Format Overview 23

It is fair to say that most SEPA implementations are focusing on SEPA compliance, and rightly so! This focus will ensure that corporate payments and direct debit collections can continue to happen uninterrupted after the SEPA deadline. The spotlight for now is very much on the corporate to bank space. Less attention is being given ...