What is the difference between a CAMT.053 and a CAMT.054 file?

Modified on Tue, 4 Aug at 8:54 AM

CAMT.053 and CAMT.054 are XML file formats based on the ISO 20022 standard used to exchange banking information with your accounting software.

Although they are similar, they serve different purposes.

CAMT.053	CAMT.054
Electronic bank statement	Debit or credit notification
Contains all booked account transactions for a given period (typically one day)	Contains the details of one or more specific incoming or outgoing payments
Used for bank reconciliation and posting bank transactions	Mainly used for the automatic processing of incoming payments, especially QR invoice payments
Equivalent to the daily bank statement	Notification of an individual transaction or a batch of transactions

When should I use a CAMT.053 file?

Use a CAMT.053 file when you want to:

import your bank account transactions into Peppermint;
perform your bank reconciliation;
post bank transactions;
view the opening and closing account balances.

The file contains all booked transactions for the selected period, as well as the opening and closing balances of the account.

When should I use a CAMT.054 file?

Use a CAMT.054 file when you want to:

retrieve the details of incoming payments;
automatically match payments with QR invoices;
identify the QR references associated with received payments.

A CAMT.054 file does not replace a complete bank statement. It only provides information about specific credit or debit notifications, often related to QR invoice payments or direct debits.

Summary

CAMT.053 = Complete bank statement → used for accounting and bank reconciliation.
CAMT.054 = Payment notification → used to automate the processing and matching of incoming payments, particularly QR invoice payments.

In Peppermint, CAMT.053 files are used to import bank transactions (Reconciliate bank statements), while CAMT.054 files are mainly used to automate the processing of QR invoice payments and simplify the automatic matching of customer payments (QR payments collection).