SWIFT Reporting (international format)

How does it work?

1. Swift reporting is available for your account statements in the harmonised BNP Paribas standard. The communicated information is structured. Each transaction is allocated a code to allow partial or advanced automation, as well as reconciliation of the banking reports with your accounting or cash management software.
2. Swift is also used for multi-bank reporting. BNP Paribas Fortis can act here as:
   • Integrator (MBR IN), providing you with statements of your accounts held at third-party banks in Belgium or anywhere abroad; or
   • Sender (MBR OUT), communicating information on your accounts to another bank.
3. Depending on the case (point 1 or point 2) and the channel used, Swift reporting occurs by means of messages:
   • Displayed on screen (Isabel or Connexis Cash); or
   • Sent or received in the form of the following Swift messages:
     • MT 942: interim transactions that can be consulted on an intraday basis according to a predefined timetable;
     • MT 941: interim balances that can be consulted on an intraday basis;
     • MT 940: end of day statement;
     • MT 940 harmonised: structured file (see point 1).
4. The file may contain purely financial transactions (costs, sundry movements) but also details of payments and collections, debits and credits, relating to one or more accounts but not including details of global operations.
5. A Swift end of day report is generated each weekday evening or only when a transaction has been recorded on the account.

Advantages

• Standardisation: reporting using the internationally recognised Swift standard.
• Efficiency: tool allowing easy, fast and secure checking of foreign accounts.
• Time saving: daily information is processed in an instant: no more need to telephone, fax or mail.
• Partial or advanced automation with accounting and/or cash management packages.
• Reduced risk: fast and accurate information reduces response and decision-making times (e.g. suspending delivery in the event of late payment).
• Anticipation: the overview of all your accounts in Belgium and abroad facilitates your cash flow management.
• Security: compliance with the security requirements used within the Swift network to exchange messages between banks.

Good to know

• Harmonised Swift reporting is available for some 20 countries in which BNP Paribas is present.
• The Swift format is generally used for multi-bank reporting, but you can also use it for the reporting on your BNP Paribas Fortis accounts.
• Other structured reporting formats are available on Easy Banking Business, Isabel, Connexis Cash, SwiftNet FileAct and E-Link: XML (international format) or CODA (Belgian format).
• To take advantage of MBR IN, you need an Isabel, Connexis Cash, SwiftNet FileAct or E-Link contract with BNP Paribas Fortis.
• Since 01/10/2019, MT 942s are delivered every 15 minutes from 7:00 to 19:00, at HH:10, HH:25, HH:40 and HH:55 and one last time at 19:15.