Swift is a provider of secure message platform for financial institutions mainly for banks.
Swift messages are being sent and received by banks in encrypted forms. As a result swift messages are accepted as a valid and reliable way of communication between banks.
For example, an issuing bank sends a swift message to an advising bank in order to inform issuance of a documentary credit. Similarly the advising bank sends its acknowledgement via a swift message.
Swift messages play a key role not only in letters of credit but also other payment methods in international trade such as cash in advance payment, documentary collections, open accounts and bank payment obligations.
What is MT 730 Acknowledgement?
MT 730 is a special swift message type that is used used to acknowledge receipt of any documentary credit message.
When applicable, it may also explicitly indicate that the message has been forwarded according to instructions.
This message type may also be used: to account for bank charges and to advise of acceptance or rejection of an amendment of a credit.
MT 730 Acknowledgement
| Status | Tag | Field Name |
|---|---|---|
| M | 20 | Sender's Reference |
| M | 21 | Receiver's Reference |
| O | 25 | Account Identification |
| M | 30 | Date of Message Being Acknowledged |
| O | 32a | Amount of Charges |
| O | 57a | Account With Bank |
| O | 71B | Charges |
| O | 72 | Sender to Receiver Information |
| O : Optinal          M : Mandatory |
MT 730 Network Validated Rules
- C1 Either field 25 or 57a, but not both, may be present.
- C2 If field 32D is present, field 57a must not be present.
Sample 1: MT 730 Acknowledgement SWIFT Message
SWIFT Message
Sender : EXPOBA2L
Message Type : 730
Receiver : IMBANL2A
Message Text20: Sender’s Reference
IMP12565821: Receiver’s Reference
ZAP8212330: Date of Message Acknowledged
02062172: Sender to Receiver Information
AT BENEFICIARY’S REQUEST WE ADDED OUR CONFIRMATION WE SHALL SETTLE OUR CHARGES LATER.
End of Message Text/Trailer
Sample 2 : MT 730 Acknowledgement SWIFT Message
SWIFT Message
Sender : AMCONL2A
Message Type : 730
Receiver : OELBATSW
Message Text
20 : Sender’s Reference
IMP14532221 : Receiver’s Reference
EXP5432130 : Date of Message Acknowledged
13082132B : Amount of Charges
EUR42057A : Account With Bank
CORBATSW71B : Charges
/COMM/EUR400,/CABLE/EUR20,72 : Sender to Receiver Information
WE ADDED OUR CONFIRMATION PLEASE PAY FOR ACCOUNT NUMBER 75016375 AT CORBATSW.
End of Message Text/Trailer
