Why an MT799  Proof of Funds

Why an MT799 Proof of Funds

MT 799 Bank Instruments

MT799 is a simple text message, sent bank to bank. This is used for a bank to bank proof of funds, only. The MT799 is not a form of payment and it is not a bank undertaking or promise to pay. It is simply a bank to bank confirmation of the funds on deposit, nothing more. What does the SWIFT MT799 option provide? An account with the SWIFT MT799 capability allows bank-to-bank SWIFT electronic verification for Proof of Funds. 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. There is a $1 million minimum account size for a SWIFT MT799.

Jeffrey Lustbader
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