The main difference between the mt760 swift message and the mt799 swift message is in when they are sent. The mt799 is sent before the mt760 and is a prelude to the sending of the mt760. Hence, the role of the mt799 is merely to notify and nothing else. This document is sent days or weeks before the sending of the mt760. It is important to note that the mt799 has no impact on the financial situation of an individual. This is another big difference that exists between the two documents.
The mt760 swift message will impact the financial condition of a client since it a verification of freezing of funds by one bank. The mt799 swift message will have no impact on the financial situation of an individual since it is sent before the funds are frozen. This is another difference between the two documents. Another difference between the two documents is that the mt760 swift is sent after the sending bank has set aside the required amount of money. The mt799 is sent before the sending bank freezes the required amount of money in the purchasing individual’s bank account.