This SWIFT message gives assurance that sufficient funds are currently in the buyer’s account to complete the transaction. There is no hold put on the funds, and they are not earmarked in any way for any specific transaction.
This SWIFT message also confirms to the seller that sufficient funds are in the buyer’s account, but the MT760 puts a hold on said funds and earmarks them for the specific transaction turning it into an actually negotiable instrument.
This SWIFT message is exactly the same as the MT799, except for the fact that it offers a higher level of security. The MT799 is sent encoded along with a key to decode the message upon arrival. The MT999 is sent without a key code.
Request for Transfer-MT101 is an alternative way to transfer and/or pool cash using SWIFT MT101 messages. SWIFT MT101 messages are requests for remittances/credit transfers that are sent to Piraeus Bank by the account servicing bank responsible for managing your cash assets or from your SWIFT BIC, if your business has joined the SWIFT Standardised Corporate Environment.
Piraeus Bank receives instructions via a SWIFT MT101 message and then follows the instructions in that message to either:
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