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MT798 is an authenticated message that is used by Corporates in lieu of the MT 760 to send financial instruments such as Safekeeping Receipts, Import Letters of Credit, Export Letters of Credit and Standby Letters of Credit to member Banks of the SWIFT system.
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K.O/Accra-Ghana
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Related Questions
Can we treat MT700 received through MT798 as an authenticated message from issuing bank?
Never, MT798 was always and remains as Free Format Message!
Can we treat MT707 received through MT798 as an authenticated message from issuing bank?
No, an MT707 received through MT798 cannot be considered an authenticated message from the issuing bank. The MT798 is a free-format message that does not carry the same level of authentication and security as standard SWIFT messages. For an MT707 to be considered authentic, it should be received directly from the issuing bank via the appropriate SWIFT channels, ensuring its integrity and authenticity.
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