Updated: July 2026
Statement and transaction records
MT940 is a tagged text format. Transaction details commonly begin with :61:, while additional information often appears in :86:. Other tags can contain balances, account identifiers and statement metadata.
Debit and credit indicators
A transaction line includes an indicator that identifies debit or credit. A useful CSV conversion normally represents debit transactions as negative amounts and credits as positive amounts.
Bank-specific extensions
Banks frequently add proprietary codes or structured text inside descriptions. A general converter can extract the main fields but may not decode every subfield. Preserve the reference and raw description where practical.
Handling dates
Transaction lines may include a value date and a shorter entry date. Confirm which date the converter exports and compare it with the bank statement period.
Validation matters
Count :61: records and compare that number with the CSV rows. Review statement balances separately because transaction extraction alone does not prove that every bank-specific record was interpreted correctly.
Useful tools
Bank Statement Converter · QuickBooks CSV Formatter · Xero CSV Formatter