All terms

Payment instrumentsmt799

MT799

A free-format SWIFT message often misrepresented as a payment guarantee; a recurring instrument in instrument-fraud schemes.

MT799 is a free-format SWIFT message type for bank-to-bank text communication. It is NOT a payment instrument and carries no financial obligation, despite being routinely demanded in scam procedures as a "pre-advice" or "soft probe" before an MT700 LC or MT760 guarantee. Any procedure that hinges on an MT799 "proving" funds or commitment is a red flag — the MT799 conveys text, not money.

Related: MT700, MT760, POF.

Frequently asked

What does MT799 mean in oil and commodity trading?
A free-format SWIFT message often misrepresented as a payment guarantee; a recurring instrument in instrument-fraud schemes.
How do I check a counterparty that uses MT799 in a deal?
The term itself is not enough to clear or condemn a deal. What matters is the counterparty behind the pitch. Screen that name for free against 8 sanctions lists plus PEP and OilFlow's first-party cluster corpus in seconds, or order the full 7-step dossier for $25, and confirm identity documents and banking details independently before you transact.

See also

mt700mt760

Seen this term in a live pitch?

These terms show up in real deal pitches — some legitimate, some not. OilFlow screens the counterparty behind the pitch against 8 sanctions lists + PEP and a first-party-investigated fraud-cluster corpus, with a clearance verdict in under 30 seconds.