Last reviewed: · Curated by Ohmyfin Organisation editorial.
pacs.009 (FinancialInstitutionCreditTransfer) is the ISO 20022 equivalent of the SWIFT MT202 — used by banks to settle between themselves, usually as the cover payment behind a pacs.008 customer transfer.
Details
pacs.009 has two variants: a "core" version for direct bank-to-bank settlement, and a "COV" version that carries the underlying customer details required for sanctions screening (the ISO 20022 successor to MT202COV).
Like all ISO 20022 messages, pacs.009 carries a UETR that links it to the customer-facing pacs.008 / MT103 it covers.
Key facts
ISO 20022 replacement for SWIFT MT202
Bank-to-bank only, not customer-facing
COV variant carries underlying customer data
Carries the same UETR as the customer payment it covers
Frequently asked questions
Will I see a pacs.009 on my statement?
No — pacs.009 is exchanged between banks. Your statement will reference the pacs.008 customer credit transfer.
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