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MT to MX migration
MT to MX migration is the move of cross-border payments and reporting on Swift from legacy MT messages, such as MT 103 and MT 202, to ISO 20022 (MX) messages under the CBPR+ guidelines. Coexistence for payment instructions ended in November 2025; later steps cover MT 101, structured addresses and investigations in 2026 and 2027.
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This is a brief definition. A full explanation with a worked example is being written.
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Updated 31 Oct 2026.
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.
MT 103 (single customer credit transfer)MT 103 is the legacy Swift message for a single customer credit transfer between banks, with fields such as 50 (ordering customer), 59 (beneficiary), 70 (remittance information) and 71A (charges). In cross-border payments pacs.008 has replaced it, and banks still meet MT 103 data in archives, translations and investigations.
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.
CBPR+ (Cross-Border Payments and Reporting Plus)CBPR+ is the set of ISO 20022 usage guidelines, agreed by a Swift community group, for cross-border payments and cash reporting between banks on the Swift network. It defines how messages such as pacs.008, pacs.009 and camt.053 must be filled in, including rules on structured addresses and character sets.