SWIFT products

S.W.I.F.T. (Society for Worldwide Interbank Financial Telecommunication) is a co-operative established to standardise exchanges of messages between financial institutions via its own telecommunication network.

UniCredit Bank takes full advantage of the possibilities that SWIFT provides and offers these also to its clients. The services directly bear the type designation of the respective SWIFT messages: MT940, MT942 and MT101.

SWIFT MT940, MT942

SWIFT MT940 messages are used for transferring information regarding operations in client current accounts made on the closed accounting day (previous bank day).

SWIFT MT942 messages are used for transferring information regarding operations in client current accounts made during the current day.

UniCredit Bank enables its clients to use messages of the MT94X type in both directions, i.e.:

• to send MT940 and MT942 messages from accounts maintained at UniCredit Bank
  
• to receive MT940 and MT942 messages from accounts maintained at other banks and send them to clients through MultiCash or BusinessNet Professional
  

SWIFT MT101

SWIFT MT101 messages are used for submitting payment orders to debit a client account held at another bank. They are generally used when the client has no possibility of direct communication with the bank maintaining its account or when the parent company transacts with funds in the accounts of its subsidiary that are held with a bank that is geographically or functionally inaccessible.

UniCredit Bank enables its clients to use messages of the MT101 type in both directions, i.e.:

• to send SWIFT MT101 messages to the executing bank (based on the client’s instruction given through the MultiCash product) – the delivering bank’s function
  
•  to make domestic and foreign payments based on incoming SWIFT MT101 messages – the executing bank’s function