Guide To MT400–MT499 And SWIFT Messages For Documentary Collections

Guide To MT400–MT499 And Related SWIFT Messages For Documentary Collections

Guide To MT400–MT499 And Related SWIFT Messages For Documentary Collections

Bottom line: CAD, DP, and DA use SWIFT Category 4. The flow is simple: acknowledge receipt, present, advise acceptance or payment, chase, report fate, and amend if needed. Pick the right MT4xx at each step and pair with payment messages only when funds must move. URC 522 requires timely advices of payment, acceptance, and non-payment.

Which SWIFT Message Do You Need

Two quick inputs. Get the correct MT code for CAD, DP, or DA events.

Step 1 of 3

MT400–MT499 Quick Index

Code Purpose Who Sends To Whom
MT400 Advice of payment under a collection. Can also settle proceeds. Collecting bank to Remitting bank
MT405 Clean collection instruction or advice. Remitting bank and Collecting bank
MT410 Acknowledgement of receipt of collection. Collecting bank to Remitting bank
MT412 Advice of acceptance of draft under DA. Includes maturity. Collecting bank to Remitting bank
MT416 Advice of non-payment or non-acceptance. Collecting bank to Remitting bank
MT420 Tracer to enquire about fate of documents. Remitting bank to Collecting bank
MT422 Advice of fate and request for instructions. Collecting bank to Remitting bank
MT430 Amendment of collection instructions. Remitting bank to Collecting bank
MT450/455/456 Cash letter credit, adjustments, and advice of dishonor. As per bank cash letter process
MT490/491 Advice or request for charges, interest, expenses. Between involved banks
MT492 Request for cancellation. Sending bank to counterparty bank
MT495/496 Queries and answers on collections. Between involved banks
MT498/499 Proprietary and free-format trade messages when no specific type fits. Between involved banks

CAD, DP, DA: Message Flow In Practice

  1. Receipt Acknowledged. Collecting bank confirms documents arrived with MT410.
  2. Presentation To Buyer. Bank presents under URC 522. If the buyer accepts a draft under DA, send MT412 with maturity.
  3. Payment Or Non-Payment. On CAD or DP payment, send MT400. If the buyer refuses, send MT416 and follow with MT422 for fate and instructions.
  4. Chasing. Use MT420 tracers if status stalls.
  5. Amend Or Cancel. Change instructions with MT430. Cancel with MT492 if allowed.

When You Need Payment Messages

Category 4 reports fate. It does not always move money. If proceeds must move through correspondents, banks may pair the collection advice with a payment message. MT103 covers a customer credit transfer. MT202 COV is the bank-to-bank cover that moves funds behind the MT103. Use them only when settlement is required.

Message Use Case Notes
MT103 Customer Credit Transfer Final leg to credit the exporter’s account when funds travel as a customer payment. Often used with documentary collections when proceeds are remitted across correspondents.
MT202 COV FI Cover Transfer Moves funds bank-to-bank to cover an MT103 instruction in a cover payment chain. Traceable cover supports compliance and AML requirements.

Related Trade Messages If You Switch To An LC

If CAD or DP/DA is not enough, move to a documentary credit. The LC family sits in Category 7. Core types include MT700 issue, MT707 amendment, MT734 refusal, and MT754 advice of payment or negotiation. For guarantees and standbys, banks use MT760.

Fields That Cause Delays If Wrong

  • References. Keep Sender’s Reference and Related Reference consistent across MT410, MT412, MT416, and MT400 so the chain reconciles.
  • Amounts And Maturity. In MT412, include the correct amount and maturity for accepted drafts. In MT400, show deductions and disposal of funds clearly.
  • Narratives. Use field 72 only for short, clear instructions. Do not add LC-style conditions to collections. URC 522 is the rule set.
Electronic Presentation: if parties agree to eURC, set the format and channel in advance between remitting and collecting banks. Do not mark a collection as eURC unless that bilateral setup exists.

Need The Right Route And Messages

Send your draft invoice, transport plan, and buyer bank. We will confirm the MT flow and settlement path.

Request A Term Sheet

This guide is for corporate users. It summarizes public SWIFT standards and URC 522 practice. Banks apply their own tariffs, formats, and KYC rules.

Get Started With Us

Submit Your Deal & Receive a Proposal Within 1-3 Working Days

Submit your deal using our secure intake form, and receive a quote within 1-3 business days. Existing clients can connect with their relationship manager through our secure web portal.


All submissions are promptly reviewed, and all communications are conducted through the intake form or the client portal for a seamless and secure process.

Express Application Submit Your Deal
Request a Proposal
Request a Proposal / Submit a Deal

Thank you for considering working with us. A nominal fee of US$500 is required upon completion of each form. This fee covers the time and effort we invest in reviewing your submission and crafting a thorough proposal. We receive numerous inquiries and prioritize those that carry this fee, ensuring serious applicants receive prompt attention.

Trade Finance

Tap into solutions like letters of credit, bank guarantees, and payment facilitation. We address the challenge of global transaction risk through structured strategies that foster cross-border growth. Complete the form to unlock streamlined funding aligned with your commercial objectives.

Submit a Request

Project Finance

Access non-recourse funding for infrastructure, renewable energy, or other capital-intensive ventures. We mitigate capital constraints by isolating project assets and focusing on risk management. Provide your details to receive a structure that drives growth and maximizes returns.

Submit a Request

Acquisitions

Secure financing for business or real estate acquisitions. We ease transaction hurdles by reviewing cash flow, synergy opportunities, and exit plans. Complete the form for a customized proposal that supports your strategic investment objectives.

Submit a Request

For Banks

Financely assists banks facing Basel III pressures by distributing trade finance deals and providing collateral for letters of credit. We reduce capital burdens while preserving client relationships and fostering service expansion. Submit your request to optimize your trade finance offerings.

Submit a Request

Once we receive your submission, our team will review your information to determine feasibility. If eligible, you will receive a proposal or term sheet within 1–3 business days. Visit our FAQ and Procedure pages for more information.

Disclaimer: Financely provides financing based on due diligence and feasibility. Approval is not guaranteed, and past performance does not predict future outcomes. All terms are subject to review. Financely primarily assists with structuring and distribution. Qualified parties carry out the project if the client approves the proposal.

Still Have Questions? Schedule a Consultation

If you still have questions after visiting our FAQ and Procedure pages, we invite you to book a paid consultation for personalized guidance. A $250 USD fee applies per session.