Can I convert a CSV file directly to MT940?

Bank Statement Engine converts your bank data to MT940 from the most reliable sources: PDF bank statements, OFX files, and QFX files. If your data is already in CSV, the recommended path is: go back to the original source (PDF statement or bank OFX download) and convert directly to MT940 — this preserves running balance data that MT940 requires and CSV typically lacks. If you only have CSV, use the PDF path: most banks that export CSV also offer PDF statements for the same period.

Why convert to MT940 instead of CSV or Excel?

SAP, Oracle, and other ERP systems use MT940 for automated bank statement processing because it carries structured SWIFT tags that ERPs parse natively — account identifiers, opening/closing balances, transaction codes. CSV imports require manual column mapping and often fail on amount formatting or date format mismatches. MT940 eliminates that mapping step and brings structured data the ERP understands directly.

How do I convert a PDF bank statement to MT940?

Upload your bank statement PDF to Bank Statement Engine. Select MT940 as the output format. The engine extracts all transactions, constructs properly structured MT940 SWIFT tags (:20: reference, :25: account, :60F: opening balance, :61: transactions, :86: narratives, :62F: closing balance), and downloads a .sta file ready for SAP or Oracle import.

What input formats does the MT940 converter accept?

Bank Statement Engine accepts PDF bank statements (most common — any bank, any country), MT940 files (.sta, .mt940, .txt), OFX files (.ofx), QFX files (.qfx — Quicken format), QIF files (.qif), and plain text files (.txt). It does not directly accept raw CSV as MT940 input because CSV lacks the opening/closing balance data that MT940 requires.

What MT940 tags are generated in the output?

:20: — Transaction reference. :25: — Account identifier (IBAN or account number). :28C: — Statement number / sequence. :60F: — Opening balance (currency, date, amount). :61: — Individual transaction lines (value date, booking date, D/C indicator, amount, type code, reference). :86: — Transaction narrative / description. :62F: — Closing balance.

Which ERP systems accept MT940?

SAP (transaction FF_5 / FEBP / F-53 bank statement upload), Oracle Financials (Bank Statement Open Interface / Automated Bank Reconciliation), Microsoft Dynamics 365 (bank statement import via MT940), Sage X3, Infor M3, JD Edwards, and most other enterprise finance systems support MT940 natively or via connector.

How does MT940 differ from MT942?

MT940 is a final (end-of-day) bank statement — it carries confirmed, settled transactions and a confirmed closing balance. MT942 is an intraday statement — it carries pending/unconfirmed transactions and does not carry a final closing balance. ERPs use MT940 for daily reconciliation and MT942 for real-time liquidity monitoring. Bank Statement Engine produces MT940 from bank statement PDFs.

Can I convert a UK bank statement to MT940?

Yes. Bank Statement Engine supports UK bank statements from Barclays, HSBC, Lloyds, NatWest, Santander, Monzo, Starling, and others. Upload the PDF and download a valid MT940 .sta file. UK account references are formatted as IBAN or sort-code/account-number in the :25: tag.

Can I convert HDFC or ICICI bank statements to MT940?

Yes — Bank Statement Engine has dedicated extractors for HDFC Bank and ICICI Bank PDF statements, including both savings and current account formats. Upload your Indian bank statement PDF and download MT940 format for import into SAP or Oracle running on Indian business entities.

Is the MT940 converter free?

Yes — 100% free. No signup, no watermarks, no limits on file count. Convert as many bank statements to MT940 as you need.

CSV to MT940 Converter — Convert Bank Data to MT940 Format Free

Why MT940 — Not CSV — for Your ERP

MT940 is the SWIFT standard for bank statement exchange — the format SAP, Oracle, Microsoft Dynamics, and other ERP systems use to process bank transactions automatically. If your ERP's bank statement import rejects your CSV, or if you're setting up automated bank reconciliation in SAP (FF_5 / FEBP), MT940 is what you need.

The core difference: CSV is just rows of numbers with no structure the ERP understands without manual mapping. MT940 carries structured SWIFT tags — account identifiers, opening balances, transaction codes, narratives, and closing balances — that ERPs parse natively with no configuration.

Note on CSV → MT940: Raw CSV files typically lack the opening/closing balance data that MT940 requires (:60F: and :62F: tags). For best results, convert from the original PDF bank statement or OFX/QFX file — these sources include balance data. If you only have CSV, use the PDF path: most banks that export CSV also provide PDF statements for the same period.

How to Convert a Bank Statement to MT940 — 3 Steps

Get your bank statement

Download the PDF from your bank's online portal — or use an OFX/QFX export if available

Upload & convert

Upload the file above. Select MT940 as output. Transactions are extracted and balance-verified

Download .sta file

Get a valid MT940 with all SWIFT tags — import into SAP, Oracle, or your ERP

MT940 File Structure — What Our Converter Produces

Here is a sample of the MT940 output our converter generates:

:20:BSE20260702            ← Transaction reference
:25:GB29NWBK60161331926819  ← Account identifier (IBAN)
:28C:00001/001              ← Statement number
:60F:C260701GBP42500,00     ← Opening balance: Credit, 01 Jul 2026, GBP, 42500.00
:61:2607020702CR8750,00NTRFREF00123
                            ← Transaction: 02 Jul, Credit, 8750.00, ref REF00123
:86:SALARY JULY 2026
:61:2607030703DR2340,50NTRFREF00124
:86:OFFICE SUPPLIES LTD
:62F:C260731GBP48909,50     ← Closing balance: Credit, 31 Jul 2026, GBP, 48909.50

MT940 Tag Reference

MT940 Tag	Content	Required For ERP?
:20:	Transaction reference number	Yes
:25:	Account identifier (IBAN or account number)	Yes — ERP matches this to a GL account
:28C:	Statement / sequence number	Yes
:60F:	Opening balance (currency + date + amount)	Yes — required for reconciliation
:61:	Transaction line (date, D/C flag, amount, type code, reference)	Yes — one per transaction
:86:	Transaction narrative / description	Recommended
:62F:	Closing balance (currency + date + amount)	Yes — required for reconciliation

Supported ERP Systems

SAP

Import your MT940 file via SAP transaction FF_5 (Bank Statement Import) or FEBP (Electronic Bank Statement Posting). SAP uses the :25: tag to match the statement to a bank master record, and :61: tags to create bank accounting documents. Our MT940 output follows the SAP-compatible format with correct D/C indicators and amount formatting.

Oracle Financials / Oracle Cloud

Oracle's Bank Statement Open Interface accepts MT940 via the CE_STATEMENT_HEADERS and CE_STATEMENT_LINES tables. Upload via the Bank Statement Import program (CEXIEBIS). Our MT940 uses the ISO date format and signed amounts Oracle expects.

Microsoft Dynamics 365

Dynamics 365 Finance supports MT940 bank statement import under Cash and Bank Management → Reconciliation → Bank statements → Import. The MT940 must follow the correct SWIFT structure — our output is compatible.

Sage X3 & Sage 50

Sage X3 accepts MT940 for automated bank matching. Sage 50 (UK) also imports MT940 for bank reconciliation. Upload the .sta file through the bank statement import module.

Bank Coverage for MT940 Output

India — SAP-Heavy Market

India's large manufacturing and IT firms run SAP extensively. Bank Statement Engine supports HDFC Bank, ICICI Bank, SBI, Axis Bank, Kotak Mahindra, Bank of Baroda, Punjab National Bank, Canara Bank, and 50+ other Indian banks for PDF-to-MT940 conversion — with dedicated extractors that produce clean, balance-verified MT940 output.

United Kingdom

Convert Barclays, HSBC, Lloyds, NatWest, Santander, and other UK bank statements to MT940. UK IBANs are formatted correctly in the :25: tag (GB prefix, sort-code embedded).

Europe

SEPA-zone banks that issue MT940 exports can be re-processed through our converter. European IBANs (DE, FR, NL, ES, IT, etc.) are handled correctly in :25: tag formatting.

MT940 vs CSV — Why ERP Teams Choose MT940

Feature	MT940	CSV
SAP / Oracle native import	✅ Yes	Requires custom mapping
Opening / closing balance	✅ Included (:60F:/:62F:)	Often missing
Transaction type codes	✅ SWIFT codes (:61:)	Free-text only
Structured account ID	✅ IBAN in :25:	Column value only
Automated bank reconciliation	✅ Full ERP matching	Manual mapping required
Open in Excel	After CSV conversion	✅ Directly

Frequently Asked Questions

What is MT940 format and who needs it?

MT940 is the SWIFT standard for electronic bank statements — tagged text files used by SAP, Oracle, Dynamics 365, and other ERP systems for automated bank reconciliation. Finance teams, treasury departments, and ERP administrators at mid-to-large businesses need MT940 to feed bank transactions into their ERP without manual entry.

Can I convert CSV directly to MT940?

The best path is PDF or OFX → MT940. CSV typically lacks the opening/closing balance data MT940 requires. If you have the original bank statement PDF or OFX file, use that for a complete, balance-verified MT940 output. Most banks that export CSV also offer PDF statements for the same period.

How do I import MT940 into SAP?

In SAP, use transaction FF_5 (Bank Statement Import) or FEBP. Upload the .sta file, specify the format as MT940, and SAP matches the :25: account tag to your bank master record. The :61: transaction lines create bank accounting documents for posting.

What input formats does the converter accept?

PDF bank statements (any bank, any country), OFX files, QFX files, existing MT940 files, QIF files, and plain text files. PDF is recommended as it includes running balance data for full MT940 output.

Does it work with Indian bank statements for SAP?

Yes — dedicated extractors for HDFC Bank, ICICI Bank, SBI, Axis Bank, Kotak, and 50+ Indian banks produce clean MT940 output suitable for SAP India implementations.

Is it free?

Yes — 100% free. No signup required. A free account removes any daily conversion cap.

Related Format Converters

PDF to MT940 Converter MT940 to CSV Converter OFX to QBO Converter QFX to CSV Converter Bank Statement to CSV Auto Bank Reconciliation Excel Free Bank Reconciliation Software HDFC Bank to Excel