9/14/2017 The Difference between a SWIFT ACK and SWIFT NACK

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The Di erence between a SWIFT ACK

and SWIFT NACK 12

14 Aug 2015   | SWIFT for Corporates Tags: payments · SWIFT for Corporates

Having explained the various SWIFT message types and the structure of a SWIFT message,
one of the other big questions that corporates contend with is what is the difference
between a SWIFT ACK (Acknowledgement) and SWIFT NACK or sometimes referred to as Recent Posts
SWIFT NAK (Negative Acknowledgement). Let’s get straight into it…
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The Structure of SWIFT Acknowledgements
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In the post Structure of a SWIFT Message post, I explain the 5 blocks that constitute a Financial Services
SWIFT message: {1:} Basic Header Block {2:} Application Header Block {3:} User Header
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Block {4:} Text Block {5:} Trailer Block Well, SWIFT Acknowledgements contain just 2 blocks:
2017
{1:} Basic Header Block {4:} Text Block The Basic Header Block is exactly as described in the
Structure of a SWIFT Message. The important thing to note in the Basic Header Block is ›   What The Heck Is A Payment Hub..?
that a SWIFT Acknowledgement message will start  {1:F21
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{1: Indicates that its the Basic Header Block 2017
F21 Indicates that it is an (Acknowledgement) ACK/NAK message
The rest of the Basic Header Block is as described in the Structure of a SWIFT Message
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Lets now go through the details of the text block, this is where the differences lie…
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A SWIFT ACK – {451:0} ›  What Is Blockchain in 6 Awesome
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A SWIFT ACK would typically look something like the following:  
›  The Structure Of A SWIFT Message,
{1:F21YOURCODEZABC1234567890}{4:{177:1508052359}{451:0}{108:ILOVESEPA}} Explained!

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Payment Services Directive
{4: – Text Block
{177: – Date Tag ›  Simple Guide to the SWIFT MT101 Format
150805 – Local date of the submitting user on to the SWIFT network
2359 – Local time of the submitting user on to the SWIFT network
} – End of Date Tag
{451: – Accept / Reject Tag Follow me on:
0 – Accepted by the SWIFT Network
} – End of Accept / Reject Tag
{108: – Message User Reference (MUR)

ILOVESEPA – Sent reference in the original outbound message
} – End of MUR Tag
} – End of Acknowledgement
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Ok, so to state the obvious – THE most important piece to focus on is {451:0} indicating ›  Fintech Companies ›  Payments News
the message has been successfully accepted by SWIFT
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9/14/2017 The Difference between a SWIFT ACK and SWIFT NACK

A SWIFT NACK or SWIFT NAK – {451:1} ›  SEPA

Implementation
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Payments

A SWIFT NACK would typically look something like the following: ›  SEPA Payments ›  Single Euro
Payments Area
{1:F21YOURCODEZABC1234567890}{4:{177:1508052359}{451:1}{405:T27}{108:ILOVESEPA}}
›  SWIFT for ›  Thoughts
Where: Corporates

{4: – Text Block

{177: – Date Tag
150805 – Local date of the submitting user on to the SWIFT network
2359 – Local time of the submitting user on to the SWIFT network
} – End of Date Tag
{451: – Accept / Reject Tag
1 - Rejected by the SWIFT Network
} – End of Accept / Reject Tag
{405: – Reject Reason
T27 – FIN Error Code – There are many, this is just an example – BIC incorrectly
formatted or invalid
} – End of Reject Reason
{108: – Message User Reference (MUR)
ILOVESEPA – Sent reference in the original outbound message
} – End of MUR Tag
} – End of Acknowledgement

Ok, so in the SWIFT NACK or NAK - the Accept / Reject Tag {451:1} equal 1, indicating the
message has been rejected by SWIFT. It then includes a tag indicating the Reject reason
{405:T27}

The Di erence Between a SWIFT ACK and SWIFT NACK

If we put the ACK and NACK alongside each other:

SWIFT ACK: {1:F21YOURCODEZABC1234567890}{4:{177:1508052359}{451:0}

{108:ILOVESEPA}}
SWIFT NACK: {1:F21YOURCODEZABC1234567890}{4:{177:1508052359}{451:1}{405:T27}
{108:ILOVESEPA}}

We can see that the SWIFT NACK Indicates a Rejected Status {451:1} and the Rejected
Reason Error Code {405:T27}

SWIFT FIN Error Codes

Now you’re probably thinking, “Great….! But how do I find out what a T27 or whatever
error code I get is in plain English…?”

Good question – SWIFT have published a list of all the error codes. I couldn’t find the
SWIFT document but check out IBM’s list of SWIFT Error Codes. Most of the errors for
corporates will be found in the Text Validation Error Codes section

Hope that helps…!!

Source:

SWIFT – System Messages – Advance Information

Related Posts:
1. The Structure Of A SWIFT Message, Explained!
2. Simple Guide to the SWIFT MT101 Format
3. 5 Reasons Why SWIFT Must Not Exclude Russian Banks

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