A Swift MT 998 is a code for a banking message. There are hundreds of codes in the message system. The particular Swift code MT 998 is considered to be a Proprietary Message.
What is the function of a MT998
Ah, happy little question! MT760 and MT998 are both types of messages used in the banking world, but they serve different purposes. MT760 is a stand-by letter of credit, ensuring payment if a contract is not fulfilled, while MT998 is a message used to confirm the receipt of a payment. Each one has its own unique role in helping transactions flow smoothly in the financial landscape. Just like in painting, understanding the different tools and techniques can help create a beautiful masterpiece in the world of banking.
Ah, the MT998 is a message type in the world of banking and finance, my friend. It's used to confirm the cancellation or amendment of a previous message, like a gentle brushstroke correcting a small mistake in a beautiful painting. Remember, mistakes happen to all of us, and it's important to address them with grace and understanding.
Oh, dude, like totally! A Swift MT998 message is authenticated because it requires a secure key to access it, so you can't just waltz in and read it without permission. It's like having a secret handshake to get into a cool club, but with banking messages. So yeah, it's legit in that sense.