SWIFT is the Society for Worldwide Interbank Financial Telecommunication. It provides a network to allow financial and non-financial institutions (e.g. corporates) to transfer financial transactions through a 'financial message'. SWIFT message types are identified with the literal "MT" (Message Type), followed by a 3-digit number (e.g. MT304).
SWIFT messages consist of five blocks of data including three headers, message content, and a trailer. Message types are crucial to identifying content.
All SWIFT messages include the literal "MT" (Message Type). This is followed by a 3-digit number that denotes the message category, group and type.