|SWIFT provides mechanisms for electronic inter-bank messaging and funds transfer. SWIFT messages are used
legitimately to conduct business between transactional partners.
|An account with the SWIFT MT999 capability allows bank-to-bank SWIFT electronic verification for Proof of
Funds in the account, with no further comment. This SWIFT format is an appropriate message for a simple Proof of Funds communication
and it is part of the Common Group of SWIFT formats providing a General Free Format for SWIFT messaging.
|An account with the SWIFT MT799 capability allows bank-to-bank SWIFT electronic verification for Proof of
Funds in compliance with the SWIFT Category 7 "Treasury Markets & Syndication" message types. 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.
|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.
|SWIFT MT542 messages are related to a SKR (Safekeeping Receipt) and related collateral. Our POF service
does not accomodate these message types.