What is the difference between MT200 and MT202?

In an MT200 the beneficiary is always the Sender: it only moves its own funds between correspondents, so there is no field 58a. An MT202 pays a beneficiary institution named in 58a, which can be another bank or, for book transfers, the Sender’s own account at the same Receiver.

What is the difference between MT200 and MT201?

The MT201 was the multiple version: one message with two to ten own-account transfers and a total in field 19. It was removed from the Swift network on 22 November 2025, so each transfer is now sent on its own.

Who receives the money in an MT200?

The Sender itself. The institution in field 57a credits the Sender’s account there, usually after receiving an MT205 or a local clearing payment from the Receiver.

Can an MT200 be cancelled with an MT292?

No. The common group rules exclude the MT200 from cancellation by MTn92. The Sender asks the account with institution to transfer the funds back instead.

What is the ISO 20022 equivalent of MT200?

The core pacs.009, Financial Institution Credit Transfer, the same message that replaces the MT202 and MT205.

Category 2: Financial institution transfers

MT200 Financial Institution Transfer for its Own Account

Written and maintained by ZagTrader. Last reviewed 21 October 2026. How this page is sourced and checked

The MT200 is the Swift message a bank sends to one of its correspondents to move its own money from the account that correspondent keeps for it to the bank’s own account at another institution, in the same currency. The Sender is always the beneficiary: the funds stay the Sender’s and only change location. Treasury and nostro teams use it to shift liquidity between correspondents, for example to fund a settlement account before a large payment.

Message type: MT200
Category: 2
Structure: 6 fields listed
ISO 20022: pacs.009

When MT200 is used

A bank that holds accounts in the same currency with several correspondents uses the MT200 to move money between them. Typical cases: moving surplus USD from one nostro to the account where tomorrow’s payments will be made, funding a cash account at a custodian or settlement bank before securities or FX settlement, and consolidating balances at the end of the day. All parties in the message must be financial institutions.

The Sender is the account owner and the Receiver is the account servicing institution that holds the funds today. The Receiver debits the Sender’s account and pays the account with institution named in field 57a, normally in the same country, with an MT205 or through the local clearing system. The account with institution credits the Sender’s account and usually confirms with an MT910 or on the next MT950 statement.

There is no beneficiary field. Because the beneficiary is always the Sender, the MT200 has no field 58a, no ordering institution and no related reference. When the Receiver passes the transfer on in an MT205, it quotes the MT200’s field 20 in field 21 and names the Sender as both ordering institution (52a) and beneficiary institution (58a).

The MT200 is not used for a book transfer between two of the Sender’s accounts at the same Receiver, or to credit one of several accounts the Sender keeps at the account with institution: those transfers use the MT202. The multiple versions of these messages, the MT201 and MT203, were removed from the Swift network on 22 November 2025, so each own-account transfer now goes in its own message.

Since 22 November 2025, cross-border payment instructions between financial institutions on Swift are delivered in ISO 20022, so an own-account transfer between correspondents travels as a pacs.009. The MT200 layout still matters for reading archives and for systems that produce MT-style data internally.

MT200 format: sequences and fields

Message text (block 4)Mandatory

Six fields and no sequences. There are no network validated rules across fields.

Tag	Name	Status	Format	Meaning
20	Transaction Reference Number	M	16x	The Sender’s reference for this transfer. It must not start or end with a slash or contain two slashes in a row (T26). The Receiver quotes it in field 21 of the MT205 it sends on.
32A	Value Date, Currency Code, Amount	M	6!n3!a15d	Value date (YYMMDD), ISO currency code and amount to transfer, with a comma as the decimal mark. The metal codes XAU, XAG, XPD and XPT are not allowed (C08). See how to read 32A.
53B	Sender's Correspondent	O	[/1!a][/34x] [35x]	The Sender’s account to debit, written as the party identifier only (for example `/0012345678`). Use it only when the Sender holds several accounts in this currency with the Receiver; leave it out when there is a single account.
56a	IntermediaryOptions A or D	O	A: [/1!a][/34x] 4!a2!a2!c[3!c] D: [/1!a][/34x] 4*35x	An institution between the Receiver and the account with institution through which the funds must pass. A clearing code such as `//FW` or `//RT` may be given in the party identifier.
57a	Account With InstitutionOptions A, B or D	M	A: [/1!a][/34x] 4!a2!a2!c[3!c] B: [/1!a][/34x] [35x] D: [/1!a][/34x] 4*35x	The institution that holds the Sender’s other account and receives the funds. Option A with a BIC whenever possible; option D only when the institution has no BIC or a name and address is required.
72	Sender to Receiver Information	O	6*35x	Coded information, one code between slashes per item: /ACC/ (for the account with institution), /INT/ (for the intermediary), /PHON/, /PHONIBK/, /TELE/ and /TELEIBK/ (advise by phone or the fastest means). Uncoded text usually stops automated processing.

Format notation: n digits, a upper-case letters, c upper-case letters and digits, x any character of the Swift character set, d a decimal number with a comma, ! fixed length, [ ] optional, 4*35x up to 4 lines of 35 characters. M mandatory, O optional, C conditional (a rule decides).

Rules worth knowing

There are no network validated rules for the MT200; only the format of each field is checked.
The beneficiary of an MT200 is always the Sender. To pay another financial institution, use an MT202.
The Receiver and the account with institution are normally in the same country.
To move funds between two accounts the Receiver services for the Sender (a book transfer), or to credit one of several accounts the Sender holds at the account with institution, use the MT202, not the MT200.
Field 53B carries only an account number, and only when the Sender has more than one account in the currency with the Receiver. With a single account, 53B must not be present.
When a clearing code such as //FW, //AU, //CP, //IN or //RT is used, it should appear once, in the first of fields 56a and 57a that is present. //RT is binding for the Receiver.
In field 72, each item starts with a code between slashes at the start of a line, and continuation text starts with //. A first line starting with /REJT/ or /RETN/ must follow the payments reject and return guidelines (T80).
An MT292 may not be used to cancel an MT200. To get the funds back, the Sender sends a new message to the account with institution asking it to transfer them back.

MT200 example

ZagTrader Test Bank, Dubai (ZAGTAEADXXX), holds two USD accounts with BANKUS33XXX in New York and a USD cash account with its custodian CUSTUS33XXX. Ahead of a large securities settlement on 22 October 2026, it moves USD 5,000,000.00 from its second account at BANKUS33 to its own account at the custodian.

{1:F01ZAGTAEADAXXX0000000000}{2:I200BANKUS33XXXXN}{4:
:20:ZT2610200101
:32A:261022USD5000000,00
:53B:/0012345678
:57A:CUSTUS33XXX
-}

Decode this example in the parser

Line by line

Line	What it says
{1:F01ZAGTAEADAXXX0000000000}{2:I200BANKUS33XXXXN}{4:	Sender ZAGTAEADXXX (the account owner), input MT200 to BANKUS33XXX (the account servicer) at normal priority. No user header is needed.
:20:ZT2610200101	ZagTrader’s reference. BANKUS33 will quote it in field 21 of its MT205.
:32A:261022USD5000000,00	Value 22 October 2026, USD 5,000,000.00. The decimal mark is a comma.
:53B:/0012345678	Which of ZagTrader’s two USD accounts at BANKUS33 to debit: party identifier only.
:57A:CUSTUS33XXX	Account with institution: the custodian where ZagTrader’s own USD account is to be credited. There is no beneficiary field: the beneficiary is the Sender.
-}	End of block 4.

BANKUS33 debits account 0012345678 and pays CUSTUS33 with an MT205 (or through the local clearing system). CUSTUS33 credits ZagTrader and confirms with an MT910 or on its statement.

BICs, account numbers and references are made up.

Common errors and rejects

MT200 used to pay another bank
An MT200 has no beneficiary institution field, so the money always lands on the Sender’s own account at the institution in 57a. To pay a counterparty bank, for example to settle an FX deal, send an MT202 with that bank in field 58a.
Book transfer sent as an MT200
Moving funds between two of your accounts at the same correspondent, or to one of several accounts you hold at the account with institution, needs an MT202. An MT200 for this goes to manual repair or is queried.
Wrong account debited (53B)
With several accounts in the same currency at the Receiver, leaving out 53B lets the Receiver pick the default account. With only one account, 53B must be left out. Put the account number alone after a slash, with no BIC or name.
Amount or currency format in 32A (T40, T43, C03, C08, T52)
The amount needs a comma as decimal mark, at least one digit before it and no more decimals than the currency allows; the currency must be a valid ISO code and not a metal code such as XAU.
How to fix it
BIC in 56a or 57a not valid (T27, T28, T29, T45, C05)
The BIC must exist in the directory and belong to a financial institution. A corporate BIC is refused.
How to fix it
Cancellation requested with an MT292
The common group rules do not allow an MT292 to cancel an MT200. If the transfer has gone out, ask the account with institution, by a new message, to transfer the funds back to your account at the Receiver.

MT200 in ISO 20022

The ISO 20022 equivalent is the core pacs.009 (Financial Institution Credit Transfer). Bank migration guides list the MT200 with the MT202 and MT205 among the category 2 messages the core pacs.009 replaces. The cross-border usage rules (CBPR+) define three pacs.009 usage guidelines, core, cover (COV) and advice (ADV), and none is reserved for own-account transfers.

Since 22 November 2025, cross-border payment instructions between financial institutions on Swift are delivered in ISO 20022. BNY’s end-of-coexistence notice lists the MT200, with the MT202 and MT205, among the messages Swift converts to pacs.009 in its contingency processing when a bank still sends them. In a pacs.009 the transfer carries a UETR in its payment identification, which the MT200 did not carry.

The confirmation of the credit at the account with institution moves from the MT910 to camt.054, and the statement from the MT950 to camt.053.

MT200 questions

What is an MT200?: A Swift message in which a bank asks one of its correspondents to move the bank’s own money from the account that correspondent holds for it to the bank’s account at another institution, in the same currency.
What is the difference between MT200 and MT202?: In an MT200 the beneficiary is always the Sender: it only moves its own funds between correspondents, so there is no field 58a. An MT202 pays a beneficiary institution named in 58a, which can be another bank or, for book transfers, the Sender’s own account at the same Receiver.
What is the difference between MT200 and MT201?: The MT201 was the multiple version: one message with two to ten own-account transfers and a total in field 19. It was removed from the Swift network on 22 November 2025, so each transfer is now sent on its own.
Who receives the money in an MT200?: The Sender itself. The institution in field 57a credits the Sender’s account there, usually after receiving an MT205 or a local clearing payment from the Receiver.
Can an MT200 be cancelled with an MT292?: No. The common group rules exclude the MT200 from cancellation by MTn92. The Sender asks the account with institution to transfer the funds back instead.
What is the ISO 20022 equivalent of MT200?: The core pacs.009, Financial Institution Credit Transfer, the same message that replaces the MT202 and MT205.

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