Overview

Scope

The management of bank accounts and mandates is currently very manual and paper based, leading to high costs, long delays and inefficiencies for both corporates and banks. SWIFT, on request of its community, has automated this process by developing messaging standards and a SWIFT Solution.

This set of messages allows an organisation to open, maintain and close cash accounts serviced by a financial institution. It is designed for existing customers that have an established relationship with a bank or for a new legal entity of this customer. It covers mandates, allows electronic signature, and references to supporting documents. Business scenarios have been addressed by 15 different ISO 20022 XML messages: each business scenario is represented by a standardised workflow and a fixed number of standardised messages. Each workflow ends with a report message to ensure both parties that they have the same understanding of the features of the account(s).

List of Messages

1. AccountOpeningRequest <acmt.007.001.01>

   The AccountOpeningRequest message is sent from an organisation to a financial institution as part of the account opening process. It is the initial request to open an account.

2. AccountOpeningAmendmentRequest <acmt.008.001.01>

   The AccountOpeningAmendmentRequest message is sent from an organisation to a financial institution as part of the account opening process. It is sent in response to a request from the financial institution to provide additional information.

3. AccountOpeningAdditionalInformationRequest <acmt.009.001.01>

   The AccountOpeningAdditionalInformationRequest message is sent from a financial institution to an organisation as part of the account opening process. This message is sent in response to an opening request message from the organisation, if the business content is valid, but additional information is required.

4. AccountRequestAcknowledgement <acmt.010.001.01>

   The AccountRequestAcknowledgement message is sent from a financial institution to an organisation. This message is sent in response to a request message from the organisation. It is sent after the request has been validated from an authentication and authorization point of view. The business content has not yet been validated at this stage.

5. AccountRequestRejection <acmt.011.001.01>

   The AccountRequestRejection message is sent from a financial institution to an organisation. This message is sent in response to a request message from the organisation, if the business content is not valid.

6. AccountAdditionalInformationRequest <acmt.012.001.01>

   The AccountAdditionalInformationRequest message is sent from a financial institution to an organisation as part of maintenance process. This message is sent in response to a request message from the organisation, if the business content is valid, but additional information is required.

7. AccountReportRequest <acmt.013.001.01>

   The AccountReportRequest message is sent from an organisation to a financial institution for reporting purposes. It is a request for an account report.

8. AccountReport <acmt.014.001.01>

   The AccountReport message is sent from a financial institution to an organisation for reporting purposes.

9. AccountExcludedMandateMaintenanceRequest <acmt.015.001.01>

   This AccountExcludedMandateMaintenanceRequest message is sent from an organisation to a financial institution as part of the account maintenance process. It is the initial request message to update an account.

10. AccountExcludedMandateMaintenanceAmendmentRequest <acmt.016.001.01>

    The AccountExcludedMandateMaintenanceAmendmentRequest message is sent from an organisation to a financial institution as part of the account maintenance process. It is sent in response to a request from the financial institution to send additional information.

11. AccountMandateMaintenanceRequest <acmt.017.001.01>

    The AccountMandateMaintenanceRequest message is sent from an organisation to a financial institution as part of the account maintenance process. It is the initial request message to update an account. This update is only about mandate information.

12. AccountMandateMaintenanceAmendmentRequest <acmt.018.001.01>

    The AccountMandateMaintenanceAmendmentRequest message is sent from an organisation to a financial institution as part of the account maintenance process. It is sent in response to a request from the financial institution to send additional information. This update is only about mandate information.

13. AccountClosingRequest <acmt.019.001.01>

    The AccountClosingRequest message is sent from an organisation to a financial institution as part of the account closing process. It is the initial request message to close an account.

14. AccountClosingAmendmentRequest <acmt.020.001.01>

    The AccountClosingAmendmentRequest message is sent from an organisation to a financial institution as part of the account closing process. It is sent in response to a request from the financial institution to send additional information.

15. AccountClosingAdditionalInformationRequest <acmt.021.001.01>

    The AccountClosingAdditionalInformationRequest message is sent from a financial institution to an organisation as part of the account closing process. It is sent if the request message was valid, but additional information is needed.