MT204 ↔ pacs.010
1 pair on this page · Use case: FI transfer
Business purpose
Financial Markets Direct Debit Message — sent by an exchange, clearing house, or FI to instruct the debtor's agent to move funds from one or more debtor accounts to one or more creditors, where both debtor and creditor are financial institutions. Most commonly used for CCP margin calls; SWIFT's own training material names the ISO module 'Interbank Direct Debit — Margin Collection (pacs.010)'.
What does NOT map cleanly
Unlike MT200/202/205, MT204 is explicitly excluded from the November 2025 CBPR+ cutover: SWIFT's bulletin lists direct-debit messages (MT104/MT107/MT204) as 'Out-of-Scope,' continuing to be supported 'until a date is defined by SWIFT.' That is why this pair is tiered close-functional rather than direct — pacs.010 is not an enforced CBPR+ substitute, the two formats simply coexist indefinitely. No formal CBPR+-style usage guideline for pacs.010 comparable to pacs.008/009 could be located; field-level mapping detail is less mature/verified than for pacs.009. No public MT204 traffic-volume data was found — do not treat MT204 as confirmed either rare or heavily used; only its continued (non-deprecated) support status is confirmed.
Migration notes
No forced migration date has been set for MT204 as of this compilation. A central-bank source (Deutsche Bundesbank / T2) independently confirms the MT204-to-pacs.010 message-level correspondence in its own RTGS gap analysis.
Sources
- Deutsche Bundesbank / T2 — Overview of messages for the future RTGS (June 2018) ·MT204 DirectDebit maps to pacs.010 FinancialInstitutionDirectDebit, categorised as 'ISO Message (no CR needed)' in the T2/RTGS future-services gap analysis (confirmed)
- BNY — Update on ISO 20022 End of Co-existence ·Direct Debit messages (MT104/MT107/MT204) are Out-of-Scope for the 22 November 2025 CBPR+ cutover and will continue to be supported until a date is defined by SWIFT (confirmed)