MT202COV — Cover Payment with Underlying Customer Details
Last reviewed: · Curated by Ohmyfin Organisation editorial.
MT202COV is a variant of the MT202 bank-to-bank funds transfer that carries the underlying customer details (originator + beneficiary) for sanctions and AML screening. Mandated by the Wolfsberg Group and most regulators since 2009.
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Details
MT202COV is a variant of the MT202 bank-to-bank funds transfer that carries the underlying customer details (originator + beneficiary) for sanctions and AML screening. Mandated by the Wolfsberg Group and most regulators since 2009.
Who uses it: Banks routing customer cover payments through correspondents.
When it is sent: Always when an MT103 customer payment is covered by an MT202; classic plain MT202 is now rare for customer-related flows.
If you have received an MT103 or pacs.008 confirming a payment connected to a MT202COV flow, you do not need bank login or SWIFT credentials to verify it. Paste the UETR (32-character UUID with 4 dashes) into the Ohmyfin tracker and you will see the latest available SWIFT payment status — accepted, rejected, pending, or credited — in seconds.
Key facts
Message type: MT202COV
Used by: Banks routing customer cover payments through correspondents.
Trigger: Always when an MT103 customer payment is covered by an MT202; classic plain MT202 is now rare for customer-related flows.
Standard: SWIFT MT (gradually being replaced by ISO 20022 equivalents)
Trackable on Ohmyfin: yes — via the related payment UETR
Frequently asked questions
What is a MT202COV?
MT202COV is a variant of the MT202 bank-to-bank funds transfer that carries the underlying customer details (originator + beneficiary) for sanctions and AML screening. Mandated by the Wolfsberg Group and most regulators since 2009.
Who uses MT202COV?
Banks routing customer cover payments through correspondents.
Will I see a MT202COV as a customer?
Usually no — these are bank-to-bank messages. Your bank will give you the resulting status as a plain-English update.
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