What is MT 799?

MT799 is a simple text message, sent bank to bank. This is used for a bank to bank proof of funds, only

The MT799 is not a form of payment and it is not a bank undertaking or promise to pay. It is simply a bank to bank confirmation of the funds on deposit and nothing more, contrary to some popular claims that any instrument can be blocked by MT 799. The reasons for this are manifold, including the reluctance of banks especially in East and Far East to provide MT 760. There is a cost to issuance of MT 760 and more often than not investors try to avoid this sort of payment and avail FREE BENEFITS. KINDLY NOTE THAT IN INTERNATIONAL TRADE THERE IS NO FREE LUNCH.

Especially in the case of any SKR that needs to be put into international trade, the MT 799 and MT 760 costs account for upto 3.5% (in extreme cases) of the instrument face value.

Another typical question that's usually asked: Can't my funds/instruments be blocked using MT 799? Why do I need MT 760?

Any instrument that is not a cash-backed instrument (e.g. SKR) needs MT 760 administrative hold prior to entering trade. For cash backed instruments some platforms don't require MT 760.

In other words:
The overwhelming answer is “NO”. The MT 799 is a swift message used between banks to communicate in written form, and is usually referred to as “pre‐advice”. Typically, the MT 799 will be needed directly before the MT 760 is issued, and there may be small fees. Despite what most brokers may claim, the MT 799 is NOT used as collateral, and can NOT be used to enter a private placement program.

MT 799 Verbiage
Bank name: Name OF TRADER’S Bank
ABA number:
Bank officer:
Account name:
Account no.:

Bank name: name of FUNDING BANK
Bank address:
Swift code:
Bank officers:
Account name:
Account no.:
Transaction code:

We are ready to proceed with the Transaction code: xxxxxxxxxxxx. We hereby confirm that an 
irrevocable, transferable, divisible and conditional bank pay order is available to the above mentioned 
client’s account in the sum of USD xxxxx Million (USDxxx,000,000) upon receiving your authenticated 
Confidential document. No Unauthorized Circulation. For further information please contact us for 
further details by email:

Swift transmission confirming availability of bank guarantee for a face value of USD XXX HUNDRED 
million (USDXXX,000,000) as per agreed format by our client. 
This confirmation is valid for XXXXXX international banking days to be verified on a bank‐to‐bank 

Bank officer1 name __________________

Bank officer2 name __________________

BANK SEAL ___________________