SWIFT message types

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" (message type/text). 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 (3) represents the category. A category denotes messages that relate to particular financial instruments or services such as precious metals (6), treasury (3), or traveller's cheques (8). The category denoted by 3 is treasury markets
• The second digit (0) represents a group of related parts in a transaction life cycle. The group indicated by 0 is a financial institution transfer.
• The third digit (4) is the type that denotes the specific message. There are several hundred message types across the categories. The type represented by 4 is a notification.

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

• The first digit (1) represents the category. The category denoted by 1 is customer payments and cheques.
• The second digit (0) represents a group of related parts in a transaction life cycle. The group indicated by 0 is a financial institution transfer.
• The third digit (3) 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.

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.

ISO 15022 MT

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

Legal status

The Courts in England and Wales have held that the header of a SWIFT message amounts to a valid form of electronic signature.

References

References

1. McGill, R.. (2008). "Global Custody and Clearing Services". Springer.
2. swift.com {{Full citation needed. (June 2025)
3. "List of all SWIFT Messages Types".
4. Gill, C., [https://www.walkermorris.co.uk/comment-opinion/law-commission-report-on-electronic-signatures/ Law Commission report on electronic signatures], ''Walker Morris'', published on 26 September 2019, accessed on 18 June 2025