Swift Message Types & Formats Flashcards
6 cards from real Swift practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Swift Message Types & Formats flashcards as text
Which SWIFT message category is used for documentary credits and guarantees?
Answer: Category 7 (MT7xx)
Category 7 messages (MT7xx) cover documentary credits, standby letters of credit, and bank guarantees.
What is the MT700 SWIFT message used for in trade finance?
Answer: Issuance of a documentary credit (Letter of Credit)
MT700 is used to issue a documentary credit (Letter of Credit) from an issuing bank to the advising bank.
Which SWIFT message is used to advise an amendment to a documentary credit?
Answer: MT707
MT707 is the Amendment to a Documentary Credit message sent by the issuing bank to notify the advising bank of changes.
What does the SWIFT MT760 message facilitate?
Answer: Issuance of a guarantee or standby letter of credit
MT760 is used to issue a guarantee or standby letter of credit from one bank to another.
In a SWIFT MT700 (Letter of Credit), which field specifies the expiry date?
Answer: Field 31D
Field 31D (Date and Place of Expiry) in MT700 specifies when and where the documentary credit expires.
What is the purpose of a SWIFT MT747 message?
Answer: Amendment to a guarantee or standby letter of credit
MT747 is used to advise an amendment to a guarantee or standby letter of credit previously issued via MT760.
How this page was made: written with AI tools and published by Nathan Beja, founder of Practice Test Geeks, who is responsible for its content. We have not yet matched this exam's facts to an official source, so confirm fees, dates and rules with the exam body. Not reviewed by a subject-matter expert. Editorial policy