MT760 is the SWIFT category 7 message used to issue a demand guarantee or standby letter of credit (SBLC) from one bank to another. It is one of the most-faked SWIFT messages in commercial fraud, so understanding the real structure matters.
Functionally, MT760 establishes an irrevocable undertaking by the issuing bank to pay the beneficiary on first written demand (for a demand guarantee) or upon presentation of stipulated documents (for an SBLC under ISP98 or UCP 600).
Key fields: 27 (sequence), 20 (sender reference), 23 (further identification), 30 (date of issue), 26E (number of amendments), 40C (rules — usually URDG 758 or ISP98), 31C (date of issue), 31D (expiry), 50 (applicant), 59 (beneficiary), 32B (currency and amount), 77U (text of undertaking).
The pre-advice MT760 (used historically to "block funds" before formal issuance) was widely abused in fraud and is now rare. Modern practice goes straight to a final MT760.
A genuine MT760 is bank-to-bank only — it travels over SWIFT between the issuing bank's SWIFT terminal and the beneficiary bank's SWIFT terminal. Customers never receive an "MT760 PDF" — there is no such thing.
The most common scam: a counterparty offers to "issue MT760 in your favour" if you pay an upfront "issuance fee" to a private account. No legitimate bank issues guarantees on this basis. Real MT760 issuance requires a credit-approved client relationship and collateral / margin.
If you do receive a real MT760 (you are the beneficiary), your bank will receive the SWIFT message and notify you formally. Always verify via your bank, never via a PDF emailed by the counterparty.
No. Real bank guarantees are issued only against a credit-approved client of the issuing bank, normally with collateral. "Leased MT760" offers are fraudulent.
Call your bank. They can confirm whether they have received the SWIFT message in your favour and read the key terms back to you. A PDF is not verification.
MT700 issues a commercial documentary letter of credit (for goods). MT760 issues a guarantee or standby letter of credit (for performance or payment default).
No — GPI tracks customer credit transfers (MT103 / pacs.008). MT760 is a different message family and uses its own bilateral confirmations.