What is Swift mt942?

Answer 1

MT 9xx category of messages are meant for Cash Management and Customer Status, like for instance, Conformation of Debit (MT 900), Conformation of Credit (MT 901) et.al. MT 942 stands for Interim Transaction Report. In a normal case you would receive a Customer Status Message (MT 940) the next morning of the day of business. But, the MT 942 gives a report of the debits/credits any given time of the day so that one can exercise better control. Other message under the same category would be the Balance Report (MT 941) which reports your intra-day balance. Hope this helped.