Starting 1 January 2019, we will implement an additional step to harmonize your reporting.
What will change?
Reporting for ING NL FCY accounts will include additional details and will use the same structured layout and code words used for ING NL EUR current accounts.
- MT94x tag 61 will include ING transaction code and original amount of transaction when different from reported amount in tag 61 sub5
- MT94x tag 86 (at entry level) will include code word CNTP to report counterparty details. Both BENM and ORDP will cease to be used.
- MT94x tag 86 (at entry level) code word REMI (remittance information) will contain subfield STRD (structured) or USTD (structured)
- camt.05x: bank transaction code tags will report the appropriate ISO transaction combination applicable e.g.:
PMNT ICDT/RCDT XCBT for foreign transfer
CAMT ACCB SWEP for cash management transactions
What actions should be taken?
To fully benefit from this change and improve reconciliation rate, we advise you to verify settings in your ERP system(s)
In case you do not have automatic reconciliation for ING NL FCY currency, you can now switch it on using the same settings as one of their ING NL EUR current account.
Where can I find additional details/description of the ING MT94x structured format?
The complete guideline for the ING MT94x format can be found at IBP ING MT940 structured - Format Guideline