MT799 and MT760 are not interchangeable. One is a free-format bank-to-bank message used to communicate information. The other is a structured guarantee message used to issue a bank guarantee or standby-style undertaking under SWIFT. If you treat an MT799 like an issued guarantee, you will get burned.
MT799 is a free-format SWIFT message category used by banks to transmit text to another bank. It is commonly used to communicate non-standard information, including pre-advice statements, clarifications, or responses to queries.
MT760 is the SWIFT message format used to issue a bank guarantee or a standby-type undertaking through SWIFT. It carries structured fields that define parties, amount, expiry, claim conditions, governing rules, and other guarantee terms.
| Topic | MT799 | MT760 |
|---|---|---|
| Message type | Free-format narrative bank message | Structured guarantee issuance message |
| Primary purpose | Communicate information or pre-advice between banks | Issue a guarantee or standby-type undertaking |
| Legal effect | Depends on wording, often informational or conditional | Typically creates an enforceable bank undertaking, subject to terms |
| Verification | Verified as a SWIFT message, not as a guarantee issuance by default | Verified as an issued guarantee message through SWIFT and bank confirmation |
| Used as “proof of funds” | Should not be treated as POF | Not a POF, it is a guarantee instrument |
| Typical risk | Overreliance on vague claims or conditional language | Bad drafting of claim conditions, expiry, governing rules, and jurisdiction |
A receiving bank can confirm whether a SWIFT message was received and authenticated, but that is not the same as confirming a binding obligation exists or that funds are available. The only safe approach is to match the message to the underlying instrument and then verify issuance through bank-to-bank communication.
Practical rule:
'Treat MT799 as a communication. Treat MT760 as an issuance message. In both cases, verify directly bank-to-bank and match the message terms to the signed contract.'
In low-quality transactions, promoters try to sell an MT799 as if it were an issued guarantee, or they promise an MT760 “without underwriting” and ask for fees. A real issuing bank does not bypass compliance, does not issue to unnamed beneficiaries, and does not issue on fantasy timelines without documentation.
Do not write “send MT799/MT760” as a vague requirement. Define the instrument, the purpose, and the acceptance criteria, then let the issuing bank choose the correct SWIFT mechanics.
Better contractual wording:
'The Issuing Bank shall issue a bank guarantee in favor of the Beneficiary for USD [amount] with expiry on [date], subject to [URDG 758 or ISP98 as applicable], transmitted via authenticated bank-to-bank SWIFT. Any pre-advice may be sent by SWIFT message at the Issuing Bank’s discretion.'
Not by default. MT799 is a messaging format. It can describe an intent to issue or communicate conditions, but it is not the same thing as an issued guarantee undertaking.
No. Proof of funds is typically evidenced by bank statements, bank letters, or authenticated confirmations aligned to a specific purpose. MT799 is not designed as a balance confirmation instrument.
MT760 is commonly used for guarantee issuance through SWIFT, but the beneficiary still must verify the issuer, the terms, and the authenticity bank-to-bank. Drafting quality and jurisdiction matter.
Standby letters of credit are often issued as an SBLC instrument under ISP98 and commonly transmitted via SWIFT formats used for standbys. In some contexts, banks also issue standby-style undertakings as guarantee messages. The correct approach is to specify the instrument and rules, not to guess the message type.
Ask for bank-to-bank confirmation from the receiving bank to the issuing bank using authenticated channels, and match the message content to signed transaction documents. Avoid screenshots and forwarded emails.
Disclaimer: This explainer is for general information only and does not constitute legal advice. SWIFT message practices vary by bank, jurisdiction, and transaction type. Any guarantee or standby must be assessed under its governing rules and legal documentation, and verified through bank-to-bank authentication.
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