MT940 bank statement format and import errors
An MT940 file is an electronic account statement represented as tagged text. It commonly carries the statement reference, account identification, opening and closing balances, transaction lines, and descriptive information needed by treasury, ERP, and reconciliation systems.
When an MT940 import fails, do not assume that the file is simply “invalid.” The problem can be in the tag sequence or data, a bank-specific MT940 variant, a transformation step, or the destination system’s import profile. Determine which layer rejected the statement before editing financial data.
Current CorrectBankFile scope: CorrectBankFile provides bounded structural diagnosis for recognizable MT940 statements. It checks supported core tags, ordering, dates, amount shapes, balances, and transaction-line structure. It does not certify a bank profile, exhaustively validate SWIFT messages, diagnose ERP configuration, or repair the file.
Check an MT940 statement before changing source data. Keep the original export and evaluate any reported issue against the bank and destination profiles.
Recognize the main MT940 records
The exact profile varies, but an MT940 statement commonly includes tags such as:
:20:— transaction reference number for the message:25:— account identification:28C:— statement number and, where used, sequence number:60F:or a related:60tag — opening balance:61:— transaction statement line:86:— information associated with an entry:62F:or a related:62tag — closing balance
ING’s current reporting-format directory links bank-specific MT940 descriptions that illustrate these fields and their subfields. A bank or ERP may implement a narrower profile, add conventions within free-text fields, or expect particular optional tags.
Why an MT940 file fails to import
The statement is incomplete or the tag order is unexpected
A truncated download can omit the closing balance or the end of the last transaction. A transformation can also split or merge lines incorrectly. Check that the statement has coherent account and statement identifiers, an opening balance, its transaction records, and a closing balance in the order expected by the destination profile.
Do not “repair” a missing closing balance by copying another amount. Re-export the statement or confirm the correct value against the bank’s source record.
Account and statement identifiers do not match the destination
The account in :25: must be associated with the target bank account. Importers may also use statement numbers and sequence numbers to detect duplicates or order partial statements. A value can be syntactically readable but still fail because the ERP expects an IBAN, a domestic account number, or a configured bank account identifier.
If one account in a multi-account workflow fails while others succeed, compare the account master and import mapping before changing the file.
Opening and closing balances do not reconcile
Balance tags include date, currency, credit/debit direction, and amount. Imports can fail or reconcile incorrectly when:
- the opening balance does not equal the previous statement’s closing balance;
- currency differs from the configured bank account;
- the credit/debit indicator is interpreted as an amount sign;
- decimal formatting does not match the MT940 profile;
- transaction totals do not explain the movement between balances.
A balanced-looking file can still fail destination checks when the selected date range overlaps a statement already imported.
A :61: transaction line has bad dates, amounts, or references
Transaction lines are compact and positional. A malformed value date, optional booking-date component, debit/credit mark, amount, transaction type, or reference can shift the way the rest of the line is parsed. Inspect the first failing transaction rather than bulk-editing every entry.
Also compare a failing statement with a known-good export from the same bank and account. Bank-specific subfields and reference conventions are often more useful than a generic sample from another institution.
Multiline descriptions were changed
Transaction information can continue into associated :86: lines, and banks use those fields differently. Middleware may wrap lines, replace line endings, convert character sets, or flatten structured subfields. An importer can then attach the description to the wrong transaction or reject an unexpected continuation.
Keep the original byte-level export. Opening and resaving an MT940 file in a word processor can introduce smart punctuation or change its encoding.
The bank and importer use different MT940 variants
“MT940” does not guarantee one identical implementation everywhere. Country, bank, channel, and ERP profiles can differ. SAP’s own guidance notes that the available MT940 variants depend on the country and bank relationship. A file that imports in one system may therefore fail in another without being universally malformed.
Ask for the destination’s expected MT940 profile, sample layout, character encoding, and account-identification rules. Then compare those requirements with the bank’s export specification.
A safe troubleshooting sequence
- Keep the original bank export unchanged.
- Confirm that it is text and actually contains MT940 tags rather than HTML, CSV, or a portal error.
- Identify the bank, account, export channel, statement period, and destination import profile.
- Check the account and statement identifiers.
- Compare opening and closing balances, currency, and statement dates.
- Inspect the first transaction that fails, including adjacent
:86:information. - Compare with a known-good file from the same bank—not an unrelated generic sample.
- Test with a copy in a non-production import environment before retrying a full statement.
MT940 or CAMT.053?
MT940 is a compact, established tagged-text statement format. CAMT.053 is an ISO 20022 XML statement with more explicitly structured account, balance, entry, and reference data. Neither is universally preferable: availability and compatibility depend on the bank, country, ERP, treasury platform, and implementation profile.
If your bank offers both, read CAMT.053 vs MT940 before switching an existing reconciliation flow. CorrectBankFile can perform bounded structural diagnosis for both CAMT.053 and MT940. The result does not replace the bank’s profile or the destination’s import requirements.
For an MT940 integration question, use the contact form and include the destination system, bank profile, and a redacted description of the failing stage. Do not send live account or transaction data through an ordinary support message.
Check your bank file before you import again
Upload the export and get practical diagnostics for finance-file import failures.