SWIFT SERVICES
Swift Service
With the increasing usage of SWIFT by corporations, corporate clients are requesting that their banks provide SWIFT corporate services giving the corporate client the ability to send payment instructions and receive balance reporting information (end of day and intraday) from their banks either via FIN or FileAct Messages services (MT or MX). MONETEC helps financial institutions, corporate and private clients to provide all types of SWIFT messaging services for trade transactions.
Access to SWIFT, a secure messaging network used by banks, financial institutions and corporates, is essential for sending and receiving urgent, high-value and secured communication.
As a SWIFT bureau services, we enable corporate clients to gain access to the SWIFT and use SWIFTNet services (FIN, InterAct, FileAct and Browse) as well benefit from the support of our third parties partners RMA Management list and other SWIFT related services. This enables our customers to securely transmit messages and instructions via SWIFT for their day-day trade finance transaction.
Swift Service Bureau
SWIFT Financial Messaging is a very powerful tool for banks and corporations alike. Its messaging capabilities include Payments, Securities, Trade Finance, FX/Treasury and Market Infrastructure. For corporations, this connection allows for streamlined access to your financial data using the ISO20022 and MT formatted messages. Benefits available are receiving intraday balance reporting, importing/exporting letters of credit and FX confirmations.
Connecting to the SWIFT Network is easy. We understand the needs of banks as well as corporations and want to help you choose the service level that serves your needs.
We offer a competitive alternative to both pricing and service, not to mention our additional products that optimize your SWIFT Connection. To assure the highest levels of security, reliability and technical support, our SWIFT Messaging solutions are maintained by SWIFT Certified Engineers. Our goal is to provide our clients with Peace of Mind as it relates to their connectivity and messaging needs.
Swift Certified Connectivity
Every three years, SWIFT audits companies that offer their connectivity solutions. This means that a Service Bureau must maintain the highest levels of security, reliability, confidentiality and directly supports “Failure is Not an Option”.
By working with us, you are assured of:
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Enablement of full SWIFTNet messaging services.
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FIN
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InterAct
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FileAct
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WebAccess/Browse
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Swift Message Categories
Category 1 - Customer Payments and Cheques
Category 2 - Financial Institution Transfers
Category 3 - Foreign Exchange, Money Markets, and Derivatives
Category 4 - Collections and Cash Letters
Category 5 - Securities Markets
Category 6 - Commodities, Syndication and Reference Data
Category 7 - Documentary Credits and Guarantees
Category 8 - Travellers Cheques
Category 9 - Cash Management and Customer Status
Swift Message Types - examples
MT103 Instructs a funds transfer
MT198 Proprietary Message
MT199 Free Format Message
MT540 Receive Free
MT542 Deliver Free
MT546 Deliver Free Confirmation
MT600 Precious Metal Trade Confirmation
MT604 Precious Metal Transfer/Delivery Order
MT700 Issue of a Documentary Credit
MT701 Issue of a Documentary Credit
MT705 Pre-Advice of a Documentary Credit
MT720 Transfer of a Documentary Credit
MT760 Issue of a Guarantee / SBLC
MT799 Free Format Message