MT760 vs MT799: what each SWIFT message really means
Commodity offers are full of SWIFT message numbers: MT760, MT799, MT700, MT103. Some commit a bank to pay; some are just messages. Mixing them up is how many buyers and sellers get trapped.
The messages you will see
| Message | What it is | Does it commit money? |
|---|---|---|
| MT700 | Issue of a documentary Letter of Credit | Yes. The bank pays against compliant documents. |
| MT760 | Issue of a guarantee or standby LC (SBLC) | Yes, under its terms, if the client defaults. |
| MT799 | Free-format message between banks | No. It's text, not a payment promise. |
| MT103 | Customer credit transfer (a payment) | It is a payment, but a copy of an MT103 proves nothing on its own. |
Why "MT799 proof of funds" is a red flag
An MT799 lets one bank send a message to another in free text. It can say almost anything. It does not block, reserve or guarantee any money.
So when an offer says "buyer to provide MT799 proof of funds" or "seller will send MT799 confirming product", treat it with caution. Real proof of funds is a confirmation your own bank can authenticate, and it comes from the buyer, never the seller. The seller provides proof of product.
MT760 done properly
A genuine MT760:
- is sent from the issuing bank to your bank, not emailed to you as a PDF;
- names the correct applicant (your counterparty) and beneficiary (you);
- states the rules (URDG 758, ISP98 or UCP 600), the amount, the expiry date and how to claim.
Your bank will confirm whether it received an authenticated MT760. A screenshot is not confirmation.
Got an offer with an SBLC, MT760 or MT799? Check it free →Quick checks before you act
- Screenshots and PDFs of SWIFT messages prove nothing. Ask your own bank.
- Check that the sender bank is real and that the beneficiary is your company.
- Watch for "MT799 proof of funds", "MT760 lease", "pre-advice before contract" or upfront fees.
- Run the offer through a free Vanguard Verify check.
FAQ
Is MT799 a guarantee? No. It's a free-format message with no payment obligation.
What is the difference between MT760 and MT799? MT760 issues a guarantee or SBLC that can be claimed. MT799 is just a message.
Can I verify an MT760 online? No website can confirm a SWIFT message. Only the receiving bank can. Vanguard Verify checks the surrounding offer and documents for fraud signs.
Is an MT103 copy proof of payment? A copy can be edited. Confirm receipt with your own bank before shipping or releasing documents.
Educational information only, not legal or financial advice. Vanguard Trade Capital Goods Wholesalers DWC-LLC, Dubai South.