Bank Instrument : MT760 And MT799

Today we will speak about MT799 and MT760 which can benefit you in a financial process. With a MT760 it may look like this

S.W.I.F.T. MT760 – WIRE FORMAT EXAMPLE
NOTIFICATION :
DELIVERY STATUS :
PRIORITY / DELIVERY :
MESSAGE INPUT REFERENCE :

 -----------------------MESSAGE HEADER------------------

SWIFT INPUT : MT760 CONFIRMATION OF BLOCKED FUNDS
SENDER :
BANK NAME :
BANK ADDRESS :
SWIFT CODE :
BANK OFFICER :
AMOUNT :
ACCOUNT NAME :
ACCOUNT NUMBER :
RECEIVER :
BANK NAME :
BANK ADDRESS :
SWIFT CODE :
BANK OFFICER :
ACCOUNT NAME :
ACCOUNT NUMBER :
IN FAVOR OF :

  ----------------------SWIFT MESSAGE TEXT-------------------

TRANSACTION CODE :
TRANSACTION NUMBER :
WE, [INSERT NAME & LOCATION OF SENDING BANK] ON BEHALF OF OUR CLIENT [INSERT NAME OF ACCOUNT HOLDER/SIGNATORY], HEREBY PRESENT OUR CONFIRMATION OF FUNDS IN THE AMOUNT OF [INSERT WRITTEN AMOUNT]UNITED STATES DOLLARS (USD $XXX,XXX,000.00) IN ACCOUNT NUMBER [XXXXXXXX] AS OF THE DATE OF THIS TRANSMISSION.
BY VIRTUE OF THIS INSTRUMENT WE [INSERT NAME & LOCATION OF SENDING BANK] CONFIRM WE HAVE PLACED SAID FUNDS ON ADMINISTRATIVE HOLD FOR A PERIOD OF [INSERT WRITTEN NUMBER] (XX) [INSERT TIME PERIOD] IN FAVOR OF THE BENEFICIARY LISTED ABOVE
THIS INSTRUMENT IS IRREVOCABLE AND VALID FOR A PERIOD OF SIXTY (60) DAYS, AND THE FUNDS SHALL REMAIN UNENCUMBERED FROM ANY OTHER BENEFICIARIES.
WE, ---INSERT NAME & LOCATION OF SENDING BANK--- CONFIRM THE FUNDS IN OUR CUSTODY WILL NOT BE CHANGED, ALTERED, AMENDED OR PLEDGED FOR A PERIOD OF [INSERT WRITTEN NUMBER] (XX) [INSERT TIME PERIOD] FROM THE DATE OF THIS TRANSMISSION.
BANK OFFICER, TITLE: BANK OFFICER, TITLE:
PIN: PIN

 Now a MT760 An account with the SWIFT MT760 capability allows bank-to-bank SWIFT electronic verification of the account, and will include a blocked funds provision. There is no other bank guarantee provision available in the SWIFT instructions. There is a $50 million minimum account size for this SWIFT wire communication. Additional costs may apply with a MT760.

 Now with a MT799 it may look like:

S.W.I.F.T. – WIRE FORMAT MT799:
NOTIFICATION :
DELIVERY STATUS :
PRIORITY / DELIVERY :
MESSAGE INPUT REFERENCE :

 -----------------MESSAGE HEADER-----------------

SWIFT INPUT : MT799 PROOF OF FUNDS
SENDER :
BANK NAME :
BANK ADDRESS :
SWIFT CODE :
BANK OFFICER :
AMOUNT :
ACCOUNT NAME :
ACCOUNT NUMBER :
RECEIVER :
BANK NAME :
BANK ADDRESS :
SWIFT CODE :
BANK OFFICER :
ACCOUNT NAME :
ACCOUNT NUMBER :
IN FAVOR OF :

--------------------SWIFT MESSAGE TEXT------------------

TRANSACTION CODE :
TRANSACTION NUMBER :
WE, ---INSERT NAME & LOCATION OF SENDING BANK--- REPRESENTED BY THE UNDERSIGNED OFFICERS, HERBY CONFIRM, WITH FULL BANK RESPONSIBILITY AND LIABILITY ON BEHALF OF OUR ACCOUNTHOLDER ---INSERT NAME OF ACCOUNT HOLDER/SIGNATORY---, CASH FUNDS IN THE AMOUNT OF ---INSERT AMOUNT IN WORDS--- MILLION UNITED STATES DOLLARS (USD $XX,000,000.00) IN ACCOUNT NUMBER ______________ AS OF THE DATE OF THIS TRANSMISSION.
DATE RECORDED : (INSERT DATE)
BANK OFFICER: BANK OFFICER:
PIN: PIN

An account with the SWIFT MT799 capability allows bank-to-bank SWIFT electronic verification for Proof of Funds in the account. Often there is a misconception that a particular circumstance requires a SWIFT MT760 message, when in fact, the SWIFT MT799 format provides the required bank confirmation for the application and additional costs may apply. Now with a MT799 and a MT760 may be involved in your financial process, so the key is to find the right source for information.

Now if you visit Banking Message  you can get more information on  MT799 and MT760, and also help you with other matters that are important to you and your finances in business.