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, nothing more.
Proof Of Funds service is not a loan, but is a perfect, inexpensive and fast way to add strength to your current financial profile, show reserves or buy time in your transactions. PROCEDURE FOR PROOF OF FUNDS VIA MT799
Bank Responsible document.
Unique Message Number.
Two Bank Officers identified, one nominated.
MT799 is sent to your Receiving Bank.
MT799 transmission receipt from Issuing Bank (export copy) is sent to Escrow Agent.
FEE FOR PROOF OF FUNDS SWIFT MT799
Our fee to confirm your Proof of Funds with a SWIFT MT799 is 2% for each 30 day period plus the cost of sending the SWIFT. The term may be extended and the fee is negotiable for longer periods.