Cover matching of incoming MT 103/MT 202 using incoming MT940/950/942

Cover Matching is supported for MT 103 / MT 202 with MT 940 / MT 950 / MT 942. Web service mode is supported for MT 940 / MT 950 / MT 942 uploads.

On receiving new credit entries, system initiates the matching of the new entries with inbound MT 103 messages pending for cover matching.

Account Owner Reference received for the credit entry is matched with the field 20 of the inbound MT 103 received. If the reference is matched, currency and amount are verified. If all values are matching the inbound payment is marked as matched and can be released for further processing. The statement credit entry is also be marked as matched. Matched statement entries cannot be used for cover matching again.

Whenever cover matching (Auto/Manual) is done for an inbound payment received, the credit statement entries which are yet to be matched will be considered for matching.

The manual cover match in Inbound Message STP Queue allows selecting the pending credit statement entries of the same currency. In the Manual Match screen, the cover messages cannot be displayed for this case. Instead, system displays the message ‘Account statement entry received’ in message population field.

- For MT103, below listed fields are compared against pacs.009 COVER message fields for cover matching: