What is an MT799?
MT799 is a free-format SWIFT message sent bank to bank. Because it has no fixed structure, it is used for communications that do not fit a defined message type: pre-advice of a credit, confirmation of readiness, or a statement about a customer's funds.
At a glance
| Term | MT-799 |
|---|---|
| Definition | SWIFT bank-to-bank message used as 'pre-advice' of a financial instrument. |
| Category | Payment & banking |
| Related terms | LC (Letter of Credit), MT-103, MT-700, T/T Payment, POF (Proof of Funds), BCL (Bank Comfort Letter), Performance Bond |
What it is used for
In commodity negotiations an MT799 is often requested as a signal of good faith — a buyer's bank confirming funds are available, or an issuing bank pre-advising that a credit will follow.
Key points
- Free-format text, authenticated between banks over SWIFT.
- Used for pre-advice of a documentary credit before the operative MT700 is sent.
- Sometimes used to convey a proof-of-funds statement from the buyer's bank.
- Requires an existing SWIFT relationship, or the message must be routed through correspondent banks.
What to watch for
- An MT799 is a message, not money. It transfers no funds and, on its own, creates no payment obligation.
- 'Send me an MT799 first' is a very common opening in trade fraud. Treat any deal whose structure depends on one with caution.
- Banks charge for these messages and many will decline to send one purely to satisfy a counterparty's curiosity.
Frequently asked questions
Is an MT799 a guarantee of payment?
No. It is an authenticated bank-to-bank message. Only an actual instrument — a documentary credit, standby credit or guarantee — creates a payment obligation.
What is the difference between MT799 and MT760?
MT760 issues a guarantee or standby letter of credit and creates a real obligation. MT799 is free-format text and does not.
Why do sellers ask for an MT799?
As comfort that the buyer's bank exists, knows the buyer and is engaged. It is weaker evidence than a documentary credit and should not replace one.
Related terms
Lodfy verifies every company on the platform — registration, ownership and sanctions screening — before they can trade.