SWIFT message types: MT103, MT202, MT760 and ISO 20022

SWIFT is a secure financial-messaging network, not a bank account or a universal settlement system. A message may instruct, confirm or describe a transaction; its existence is not proof that funds reached the beneficiary.

Common legacy MT messages

MT103: customer credit transfer instruction.
MT202: financial-institution transfer; MT202 COV supported cover-payment flows.
MT300: confirmation of a foreign-exchange transaction.
MT700: issue of a documentary credit.
MT760: issue of a guarantee or standby letter of credit in applicable contexts.
MT940: bank account statement.
MT199/MT299: free-format correspondence in relevant workflows; rules and permitted uses vary over time.

Why ISO 20022 matters now

The CBPR+ coexistence period for cross-border payment instructions ended in November 2025. Modern interbank payment messages include pacs.008 for customer transfers, pacs.009 for institution transfers, pacs.002 for status reports and pacs.004 for returns. Some MT representations remain visible in bank files or contingency processes, so distinguish a document's format from its underlying processing route.

What to use to track a transfer

A genuine UETR is more useful for payment-status investigation than the mere label MT103. Request the UETR from the sending bank and review the available status with appropriate caution. Only the relevant bank can confirm account-level settlement and investigate missing funds.