camt.054 is the ISO 20022 message a bank sends to notify a customer of individual debits or credits on its account, often in near real time or with the detail of a batch. Companies use it to match incoming payments to invoices and to see the content of bulk payments. It replaces the Swift MT 900 and MT 910.
camt.053 (bank to customer statement)camt.053 is the ISO 20022 end-of-day account statement a bank sends to a customer, with opening and closing balances and every booked entry, including structured references and remittance data. It replaces the Swift MT 940 and MT 950 and feeds automated reconciliation in treasury and accounting systems.
camt.052 (intraday account report)camt.052 is the ISO 20022 bank-to-customer account report sent during the day, showing balances and entries booked so far. It replaces the Swift MT 942 and helps treasury teams update cash positions and forecasts before the end-of-day statement arrives.
Remittance informationRemittance information is the data in a payment that tells the payee what the payment is for, such as invoice numbers. It can be unstructured free text (140 characters in SEPA) or structured, such as a creditor reference under ISO 11649 starting with RF. Good remittance data lets the payee match payments to invoices automatically.
Virtual accounts (virtual IBANs)Virtual accounts are sub-ledger account numbers, often virtual IBANs, that a bank issues on top of a real account so that each customer, subsidiary or invoice gets its own payment reference. Incoming funds land in the real account and are matched automatically. The 2024 EU anti-money laundering package brings virtual IBANs into national bank account registers.
ISO 20022ISO 20022 is the international standard for financial messages, built from a common business dictionary and usually expressed in XML. Payment messages are grouped as pain (customer to bank), pacs (bank to bank) and camt (cash management, such as statements). It is the format of SEPA, T2, CHAPS and Swift cross-border payments.
Swift (network)Swift is a cooperative, owned by its member institutions, that runs a secure messaging network for payment, securities and trade messages between banks and other institutions worldwide. Swift carries instructions only: it holds no accounts, and the money settles on the books of banks or in central bank systems. Members must meet its Customer Security Programme controls.