Glossary

MT760 Explained

In dealing in Bank Guarantees, one may hear the phrase ‘MT760’. This is the SWIFT message type banks use to issue or advise demand guarantees and standby letters of credit. When sending a Bank Guarantee by SWIFT, the SWIFT Operator will enter the details on this Message Type relating to the specifics of the Guarantee.

Bank guarantees and standby letters of credit are sent with this message type.

It is important not to get caught up in inter-bank jargon, and we would advise that this phrase is not used when discussing Bank Guarantees as it concerns neither the client nor the recipient. Its meaning is strictly inter-bank communication and nothing else.