The MT400 SWIFT Message is an advice of payment sent by the collecting bank to the remitting bank. A lot of things happen before the funds are collected and the MT400 message is sent. That is why in a previous article, we explained what documentary collections are and the roles that collecting and remitting banks […]
The SWIFT MT400 is an advice of payment sent by the collecting bank to the remitting bank. A lot of things happen before the funds are collected and the SWIFT MT400 message is sent. That is why in the previous article, we explained what documentary collections are and the roles that collecting and remitting banks […]
SWIFT category 4 messages (part 1) are about payment collections. In the SWIFT standards documentation, we read that these messages are exchanged between the collecting bank and the remitting bank. And unless you know what is a collecting bank and what is a remitting bank, it is not easy to understand those messages. So the purpose […]