Swift profits

invests money back into security of its network

ISO 20022

an open global standard for financial information

ISO 20022 benefits

richer, better structured and more granular data, quality data, improved analytics, less manual intervention, supportive of end-to-end automation, modern technology usage, worldwide adoption

Reference

internal payment identififer

Debtor

Person or business sending funds

Creditor

Intended recipient

Account

Debtor or creditor account identififer

BIC

business identififer code

Currency

currency of payment

Value date

intended date for value or settlement

Address

debtor's or creditors address

Remittance

information explaining the payment

Tracking reference

identifier used to trace a payment

IBAN

a standardized identifier used to identify bank accounts in countries that adapted the system

Reference (validation check)

Present, unique where required, matches source record

Debtor (validation check)

Name and identity match the instruction

Creditor (validation check)

Name matches the source instructions

Account (validation check)

Correct account, required length and format, appropriate country rules

BIC (validation check)

Check format, institution identity and routing relevance

Currency (validation check)

Valid currency code, such as USD, EUR or GBP

Value date (validation check)

Valid date, consistent with payment terms and processing rules

Address (validation check)

Required components present and structured appropriately

Remittance (validation check)

Invoice or reference matches supporting documentation

Tracking reference (validation check)

Correct reference type, complete and consistent with tracking records

CBPR+ Project Navigator

allows you to plan, track and manage your migration with a structured step-by-step journey.

pacs.008

Financial to Financial Customer Credit Transfer

pacs.009

Financial Institutional Credit Transfer

pacs.002

Financial to Financial Payment Status Report

pacs.004

Payment Return

camt.053

Bank-to-Customer Statement