SWIFT MT799 POF: What a Proof-of-Funds Message Really Proves
By the Vanguard Verify desk · Published 2026-10-24 · Updated 2026-11-02
Short answer: an MT799 is a free-format SWIFT message sent from one bank to another. A buyer's bank can use it to confirm that its client holds funds — that is a proof of funds (POF). But an MT799 is not a payment, not a guarantee and does not block or reserve money unless the bank's text explicitly says so. It only means something if it arrives bank-to-bank and your own bank confirms it.
Who gives what
In a normal commodity deal the buyer gives POF (evidence it can pay) and the seller gives POP (proof of product — evidence it controls the goods). An MT799 is one possible channel for a buyer's POF; it is never a seller's obligation to send money or fees to obtain one.
MT799 vs other messages
| Message | Purpose | Moves or commits money? |
|---|---|---|
| MT799 | Free-format text between banks (Category 7) | No — information only, unless its wording creates a commitment |
| MT760 | Issue a guarantee or standby letter of credit | Creates a bank undertaking |
| MT700 | Issue a documentary letter of credit | Creates a bank undertaking |
| MT103 | Single customer credit transfer | Yes — a payment |
How to verify an MT799 POF
- Give your bank's details, not your email. The message must be addressed to your bank's BIC. Ask your relationship manager to confirm it was received over SWIFT.
- Ignore PDFs and screenshots. Anyone can type an "MT799" into a document. Only receipt by your bank counts.
- Check the sender BIC. Your bank can confirm it belongs to the bank named, not a look-alike.
- Read the wording. Does it name the buyer, an amount and currency, a date, and the signing officer? Does it say funds are "available", "blocked" or "reserved" — and for how long? "Ready, willing and able" language confirms nothing.
- Verify the account holder. Confirm the buyer company exists and is active in its official registry and in GLEIF; the account name should match it.
- Move on to a real instrument. A POF opens the conversation. Payment security comes from a DLC, SBLC or escrow agreed in the contract.
Red flags
- A seller demands an MT799 POF before giving any POP or a firm offer.
- Fees requested to "send" or "receive" an MT799.
- "MT799 from a top 25 bank" offered by a third party who is not the buyer.
- Claims that an MT799 can be "monetised" or discounted.
- Buyer refuses any verification beyond an emailed copy.
More: MT799 meaning and MT760 vs MT799.
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FAQ
Is an MT799 a guarantee of payment?
No. It is a free-format message. It creates an obligation only if the bank's wording expressly does so; guarantees and standbys are normally issued by MT760.
Who provides POF in a commodity deal?
The buyer provides proof of funds; the seller provides proof of product.
Can I verify an MT799 myself?
Only through your own bank. Ask it to confirm the message was received over SWIFT from the named sender BIC.
What is SWIFT MT799 proof of funds?
It is a free-format MT799 message in which the buyer's bank tells the seller's bank that its client holds funds. It confirms a balance on a date; it does not move, reserve or guarantee that money.
Can an MT799 block funds?
No. An MT799 cannot block or earmark funds by itself. If a bank really reserves money it says so in its own wording, and only your own bank can confirm that over SWIFT.
Vanguard Verify is run by Vanguard Trade Capital Goods Wholesalers DWC-LLC, Dubai South, Licence 14282. This answer is general information, not legal or financial advice.