MT299 — Free Format Message (Category 2)

The MT199 equivalent for interbank flows: free-text communication around an MT202, MT202 COV or MT205, between correspondent banks.

Purpose of the message

MT299 is the interbank counterpart of MT199. Where MT199 is used for customer payment flows (MT103), MT299 serves the FI-transfer flows of Category 2:

• confirm execution of an MT202 / MT205;
• ask the correspondent bank for the status of a settlement;
• flag an exception on a cover payment (MT202 COV);
• process the financial balance of a correspondent chain;
• exchange instructions linked to nostro / vostro accounts (reconciliation, adjustment).

MT299 is heavily used between correspondent banking desks for investigation and interbank reconciliation flows. Since ISO 20022 on SWIFTNet (November 2025), it is replaced by pacs.002 (status report) and camt.029 (resolution of investigation) cross-border.

Block 4 structure

Same minimalist structure as MT199, adapted for interbank flows:

Tags in detail

• :20: — unique MT299 reference on the sending bank side. Stored in the correspondent reconciliation system.
• :21: — reference of the originating MT202 / MT205 or parent investigation case.
• :79: — formal English narrative. Should identify the context (MT type, amount, currency, counterparty BICs) and the requested action or communicated information.
• :11S: — useful to point to a past-dated MT202 (helpful in long-running investigation cases).

Real example

BNP Paribas Paris confirms to Deutsche Bank Frankfurt the execution of a cover MT202 settling EUR 12,500 in favour of Hans Mueller GmbH, via Deutsche Bank's nostro at BNP:

{1:F01BNPAFRPPAXXX0000000000}{2:I299DEUTDEFFXXXXN}{3:{121:2b3c4d5e-6f70-8190-bcde-f12345678901}}{4:
:20:STA20260514BNPP
:21:COV20260514002
:79:WE REFER TO YOUR MT202 COV REF COV20260514002 DATED 14 MAY 2026
FOR EUR 12500,00 BENEFICIARY HANS MUELLER GMBH.
SETTLEMENT VIA NOSTRO ACCOUNT DE89370400440532013000
HAS BEEN COMPLETED. EXECUTED 14 MAY 2026 11:42 CET.
GPI REF UETR 1A2B3C4D-5E6F-7890-ABCD-EF1234567890.
REGARDS, BNP PARIBAS CORRESPONDENT BANKING
-}{5:{CHK:DEF456789012}}

• {1:F01BNPAFRPPAXXX...} — sender BNP Paribas Paris.
• {2:I299DEUTDEFFXXXXN} — recipient Deutsche Bank Frankfurt.
• :20:STA20260514BNPP — sender reference of the MT299 (STA = Status).
• :21:COV20260514002 — reference of the originating MT202 COV.
• :79: — execution confirmation message, with timestamp, nostro reference and gpi UETR.

Common pitfalls

• MT199 vs MT299 confusion — category is dictated by the nature of the chain, not by the :79: content. A free message referencing an MT103 = MT199. Referencing an MT202 = MT299.
• UETR not propagated — for gpi chains, the UETR must follow the entire case, including investigation MT299s. Otherwise, the gpi tracker cannot correlate.
• No :21: — an MT299 without Related Reference cannot be matched on the receiver side. Always carry the MT202 / MT205 / parent case reference.
• Non-standard BICs in :79: — textual BICs in the narrative must be uppercase and in the standard 8 or 11 char format, otherwise OCR / ML parsing on the receiver side fails.
• Mixing client and nostro flows — an MT299 about a customer amount (in favour of Hans Mueller) must round-trip with the originating MT103/MT199, not directly enter the nostro conversation.
• Character set x — like MT199, accents and extended characters are rejected. Pre-validate.

MX equivalents

Related messages

• MT202 — general interbank transfer.
• MT202 COV — cover payment tied to an MT103.
• MT205 — financial institution transfer.
• MT292 / MT295 / MT296 — structured Category 2 cancellation / queries / answers.
• MT199 — Category 1 equivalent (customer payments).
• pacs.009, pacs.002, camt.029 — ISO 20022 equivalents.