SWIFT Message

SWIFT Message refers to standardized financial messages transmitted through the SWIFT network, widely used in international trade payments, letters of credit, remittances, collections, and other businesses. Its features include unified format, security and reliability, and efficient processing, making it a core tool for cross-border interbank settlement. Usage scenarios include: issuing/amending letters of credit (MT700/MT707), remittances (MT103), collections (MT400/MT410), etc. Notes: Once a SWIFT message is sent, it has legal effect and cannot be arbitrarily revoked; the message content must strictly follow SWIFT standards, and any discrepancy may lead to refusal of payment or delayed processing by the counterparty; unlike ordinary email or fax, SWIFT messages are transmitted through a dedicated network, offering high security and higher costs. Differences: SWIFT messages are standard interbank messages, while ordinary messages (such as TELEX) have been gradually replaced; a SWIFT message is not the payment itself, but only a payment instruction. Foreign trade practitioners need to pay attention to key fields in the message (such as 50/59 beneficiary, 32A amount, 71A charges, etc.) to ensure consistency with the contract.