Letter of Credit via SWIFT MT700 – Global Trade Security
Through Standardized Messaging UCP 600 Compliant | Bank-to-Bank Assurance | MT700 Structuring by NNRV
⚠️ Need a Secure, Globally Recognized Trade Payment Tool?
An exporter in Vietnam secured a $4.5M deal with a buyer in Canada. But the trust came only after the buyer’s bank issued a Letter of Credit via SWIFT MT700. NNRV structured the LC—compliant, clear, and confirmed.-
🧠 “The MT700 gave us real assurance. We saw the SWIFT confirmation and shipped immediately.” – Thanh N., Electronics Exporter
What Is a Letter of Credit via SWIFT MT700?
A SWIFT MT700 is the official electronic message format used by banks worldwide to issue a Documentary Letter of Credit (LC) under the rules of the ICC UCP 600. It standardizes and secures the transmission of LC instructions between issuing and advising banks. At NNRV, we specialize in drafting, reviewing, and coordinating MT700 messages through top-tier issuing banks, ensuring payment security and clarity for international trade partners.-
🧠 “We only trade under MT700 LCs now. With NNRV handling the message, there’s zero risk of miscommunication.” – Sonia P., Agro-exporter – Morocco
Key Benefits of Using MT700
✅ Global Bank Compatibility – Universally accepted format for LCs. ✅ Legal Security – Enforceable under UCP 600 rules. ✅ Instant Bank-to-Bank Transmission – Sent via SWIFT network. ✅ Verified Instructions – Reduces human error or manipulation. ✅ Required for Most Cross-Border LCs – Standard in 200+ countries.
NNRV Trade Partners
Montreal HQ • Global Desks
SWIFT MT700 Letters of Credit — End-to-End Issuance Support
We structure, draft, and coordinate UCP 600-compliant MT700 LCs with your bank and counterparties—minimizing discrepancies, accelerating shipments, and securing clean presentations.
UCP 600 • ISBP 745
KYC/AML & Sanctions
24–48h intake
100+ countries
How the MT700 LC Process Works
- Buyer & Seller sign a trade agreement (INCOTERMS, shipment windows, documents).
- Buyer requests issuance from their bank (applicant/issuing bank).
- Issuing bank transmits the LC via SWIFT MT700 to the advising bank.
- Seller reviews LC, ships goods, and presents documents per LC terms.
- Issuing bank examines documents and pays/accepts upon compliance.
Documents Needed for MT700
- Final sales contract including LC terms
- Buyer & seller KYC files (compliance/screening)
- Draft LC (by NNRV or buyer’s bank)
- Bank coordinates (SWIFT/BIC, IBAN/Account)
- Commercial docs (PI, invoice, packing list, B/L or AWB, insurance, COO)
We align every field to ISBP 745 to reduce discrepancy risk.
Why Use SWIFT MT700?
| 🔒 Feature | ✅ Benefit |
|---|---|
| Official SWIFT LC format | Trusted by banks worldwide |
| UCP 600 rule-set | Clear legal protection for both parties |
| Structured, field-by-field | Machine-parsable, reduces ambiguity |
| Trackable & timestamped | Full audit trail and message trace |
| Backbone for all major LCs | Required in most cross-border flows |
NNRV’s Structuring Process
- Drafting: We prepare a clean MT700 draft, field-by-field.
- Alignment: Match contract clauses, bank conditions, and document list.
- Transmission: Coordinate with issuing bank to send SWIFT to advising bank.
- Monitoring: Confirm arrival, advising/confirming actions, and any queries.
- Presentation: We coach on document preparation and follow payout through.
| SWIFT Type | Purpose | Payment Binding? |
|---|---|---|
| MT700 | Primary LC issuance | ✅ Yes |
| MT799 | Pre-advice / intent | ❌ No |
| MT760 | SBLC/Guarantee issuance | ✅ Yes |
| MT199/999 | Free-format instructions | ❌ No |
Trusted Banks That Issue MT700 (20+)
BIC/SWIFT references are indicative; exact branch codes vary by file. Click a code to copy.
| Bank Name | SWIFT Code | Strengths | Challenges | Fees Range | Issuance Time | Min. Deal | LC Types |
|---|---|---|---|---|---|---|---|
| HSBC Hong Kong | HSBCHKHHXXX | Fast global SWIFT; UCP 600 experts | Higher compliance scrutiny | 1%–9% | 1–5 days | $500K | MT700, Confirmed |
| BNP Paribas Hong Kong | BNPAHKHHXXX | EU–Asia corridors | May require draft pre-approval | 1.2%–8.3% | 2–6 days | $500K | MT700, Transferable |
| Credit Foncier GmbH | CFEGDE82 | EU structuring accuracy | Slower non-EU flows | 1.3%–9% | 2–7 days | $500K | MT700, Irrevocable |
| Standard Commerce Bank (USA) | STDMDMDMXXX | Americas corridors | Complex KYC | 1.1%–8.7% | 2–6 days | $500K | MT700, Confirmed |
| ABC Banking Corporation | ABCKMUMU | SME/Africa friendly | Restricted currencies | 1.2%–8.5% | 2–5 days | $250K | MT700, Usance |
| JPMorgan Chase | CHASUS33 | Global reach | Strict compliance | 1%–7% | 2–5 days | $1M | MT700, Confirmed |
| Citi | CITIUS33 | Multi-currency hubs | Documentation rigor | 1%–7% | 2–5 days | $1M | MT700, Sight/Usance |
| Bank of America | BOFAUS3N | North America strength | Strict eligibility | 1%–7% | 2–6 days | $1M | MT700 |
| BNP Paribas (France) | BNPAFRPP | EU leadership | High documentation quality | 1%–7% | 2–6 days | $1M | MT700, Transferable |
| Crédit Agricole | AGRIFRPP | EU trade/Agri | Conservative terms | 1%–7% | 2–6 days | $1M | MT700 |
| Société Générale | SOGEFRPP | Structured trade | Detailed KYC | 1%–7% | 2–6 days | $1M | MT700, Confirmed |
| Deutsche Bank | DEUTDEFF | Global network | Complex AML | 1%–8% | 2–6 days | $1M | MT700 |
| Commerzbank | COBADEFF | EU SMEs | Weekends limited | 1%–7% | 2–4 days | $500K | MT700, Usance |
| Barclays | BARCGB22 | UK corridors | Strict docs | 1%–7% | 2–5 days | $750K | MT700 |
| NatWest Markets | NWBKGB2L | UK/EU trade | Conservative wording | 1%–7% | 2–5 days | $750K | MT700 |
| HSBC London | MIDLGB22 | Asia–EU bridge | Pre-checks heavy | 1%–8% | 1–4 days | $1M | MT700, Confirmed |
| DBS (Singapore) | DBSSSGSG | APAC expertise | Strict timelines | 1.2%–7% | 2–5 days | $500K | MT700 (Sight/Usance) |
| OCBC (Singapore) | OCBCSGSG | ASEAN corridors | Conservative LC text | 1.2%–7% | 2–5 days | $500K | MT700 |
| UOB (Singapore) | UOVBSGSG | ASEAN supply chains | Detailed doc check | 1.2%–7% | 2–5 days | $500K | MT700 |
| Bank of China | BKCHCNBJ | Global China network | Strict LC wording | 1%–7% | 2–6 days | $1M | MT700, Transferable |
| ICBC | ICBKCNBJ | Large project flows | Longer approvals | 1%–7% | 3–7 days | $1M | MT700 |
| China Construction Bank (HK) | CCBQHKAX | HK gateway | Formality in docs | 1%–7% | 2–6 days | $750K | MT700 |
| Standard Chartered (Dubai) | SCBLAEAD | MENA/Africa hub | Regional alignment | 1.2%–7% | 2–4 days | $500K | MT700, Confirmed |
| Emirates NBD | EBILAEAD | GCC trade | Doc conservatism | 1.2%–7% | 2–5 days | $500K | MT700 |
| First Abu Dhabi Bank | NBADAEAA | Energy/O&G | Pre-KYC strict | 1.2%–7% | 2–5 days | $1M | MT700 |
| Qatar National Bank | QNBAQAQA | GCC projects | Regional criteria | 1.2%–7% | 2–5 days | $1M | MT700 |
| RBC (Canada) | ROYCCAT2 | CAD/USD corridors | Eligibility checks | 1%–7% | 2–5 days | $500K | MT700 |
| Scotiabank (Canada) | NOSCCATT | Americas networks | Doc precision | 1%–7% | 2–5 days | $500K | MT700 |
| TD (Canada) | TDOMCATT | North America | Conservative terms | 1%–7% | 2–5 days | $500K | MT700 |
| UniCredit | UNCRITMM | EU industrial | Detailed LC text | 1%–7% | 2–6 days | $750K | MT700 |
| Santander (Spain) | BSCHESMM | EU/LatAm bridge | Higher scrutiny | 1%–7% | 2–6 days | $750K | MT700 |
| PG Asia Investment Bank | AINEMY22 | APAC agility | Recognition varies | 1%–7% | 2–5 days | $250K | MT700 |
| Dushanbe City Bank | LCMDTJ22 | Frontier markets | Lower visibility | 1%–8% | 3–7 days | $250K | MT700 |
| Asia Pacific Investment Bank | ASPMMYKL | Growing APAC | Less EU acceptance | 1%–7% | 2–5 days | $300K | MT700 |
| Unibanque (UK) | UNBQGB22 | SME-friendly | Strong documentation | 1%–7% | 2–6 days | $500K | MT700, Transferable |
Secure LC Intake (Buyer/Applicant or Seller/Exporter)
All submissions are encrypted in transit. We may decline files that present elevated compliance or reputational risk.
Client Reviews (10)
A. Chen — APAC Components ★★★★★
“Field-perfect MT700 draft, zero discrepancies.”
M. Diallo — Agro SSA ★★★★★
“Advising bank aligned in hours, not days.”
R. Patel — Bharat Industrials ★★★★★
“Clean presentation and quick value date.”
L. Santos — LatAm Metals ★★★★☆
“Holiday delay noted; otherwise spotless.”
S. Ahmed — GCC EPC ★★★★★
“Confirmation arranged within 48h.”
E. Novak — EU Machinery ★★★★★
“Tight shipment windows, exacting docs—approved.”
C. Wang — HK Trading ★★★★★
“Solved a 43P/partial shipment clause elegantly.”
J. Brown — NA Retail ★★★★★
“Transparent fee schedule, no surprises.”
Y. Kim — KR Energy ★★★★★
“Advising bank queries pre-empted by ISBP coaching.”
G. Rossi — IT Textiles ★★★★★
“LC wording matched suppliers in 3 countries.”
Frequently Asked Questions (15)
1) What’s the difference between Sight and Usance LC?
Sight pays upon compliant presentation; Usance pays at maturity (e.g., 60/90/120 days). Both are issued via MT700.
2) Can we allow partial shipments?
Yes—set field 43P = ALLOWED and align shipment tolerances/periods to avoid discrepancies.
3) Do I need confirmation?
If the issuing bank/country risk is a concern, add confirmation (bank’s irrevocable undertaking) for exporter comfort.
4) What causes most discrepancies?
Mismatched descriptions, late shipments, stale insurance, missing signatures, or wrong Incoterms references.
5) Can an LC be transferable?
Yes—if field 40A/46A allow it. We can structure first/second beneficiary clauses carefully.
6) Who chooses the advising bank?
Typically the issuing bank routes to a correspondent/advising bank acceptable to the beneficiary; preferences can be noted.
7) What is the role of ISBP 745?
It’s the practice guide for document examination. We draft/coaching to ISBP 745 to minimize queries.
8) How fast can we issue?
With complete KYC and a clean draft, many banks issue within 2–5 business days.
9) What if the LC needs amendment?
Use MT707. Amendments require applicant and beneficiary acceptance; fees may apply.
10) Who pays the charges?
Field 71B defines charges allocation (e.g., “ALL BANKING CHARGES OUTSIDE APPLICANT’S COUNTRY FOR BENEFICIARY’S ACCOUNT”).
11) Can we include a Red Clause?
Yes—pre-shipment advance to the seller. Requires careful risk assessment and wording.
12) What about reimbursement?
For confirmed LCs, MT740 to a reimbursing bank can speed settlement to the confirming/advising bank.
13) Are Incoterms mandatory?
Not mandatory but strongly recommended; they guide risk/title, insurance, and document logic.
14) Which documents are most critical?
Transport document (B/L or AWB), commercial invoice, packing list, insurance (if CIF/CIP), and any certificates (COO, inspection).
15) Can we add latest shipment date tolerance?
Yes—use clear shipment period/expiry place and allow reasonable tolerance (e.g., +/- 5%) where applicable.
Compliance & Standards
All cases undergo KYC/AML & sanctions screening. LC wording is aligned to issuer policy and corridor requirements. We may decline engagements with elevated compliance or reputational risk.
Why NNRV?
🔒 SWIFT MT700 Field Structuring Expertise ✅ MT700 Drafting & Pre-Advice Service 📄 Integrated Compliance With UCP 600 🌍 40+ Bank Network for LC Execution 📁 Buyer–Seller–Bank Alignment in One Process💲 MT700 Fee Notes
Fees typically range between 1% and 9%, based on: • LC size and bank jurisdiction • Risk rating and buyer country • Document complexity and timing 🔹 Get your MT700 structuring quote now.📚 What Makes Us Different?
✔️ MT700 Draft Line-by-Line Support ✔️ International SWIFT Structuring ✔️ Full Integration With Trade Documents 📌 From $250K to $100M+ in MT700 LCs managed🔗 Related Services
• Pre-Advised MT799 LC • Confirmed LC Structuring • Transferable or Divisible LC via MT700 • Document Review & SWIFT Matching📖 Strategic Blog Posts
• What Is SWIFT MT700? Full Breakdown by NNRV • How to Avoid MT700 Errors That Delay Payment • MT700 vs MT760: LC vs SBLC Explained🚀 Issue Your MT700 Letter of Credit Now!
Trade securely. Get paid confidently. Let NNRV structure your MT700 LC. 📩 Book Your MT700 LC Structuring Call ☎️ Work With Global LC Experts | 🌍 SWIFT-Compliant | ✅ MT700 Delivery in 3–5 DaysLetter of Credit via SWIFT MT700 – Global Trade Security
Objective
Explain how an MT700 allows the issuing bank to authorize a reimbursing bank to pay the confirming bank once documents are presented in compliance with the LC terms, ensuring secure cross-border transactions.
Story & Example
An exporter in Vietnam secured a $4.5M deal with a buyer in Canada. Trust was only established after the buyer’s bank issued a Letter of Credit via SWIFT MT700. NNRV structured the LC—compliant, clear, and confirmed—allowing the exporter to ship immediately.
"The MT700 gave us real assurance. We saw the SWIFT confirmation and shipped immediately." – Thanh N., Electronics Exporter
What Is a Letter of Credit via SWIFT MT700?
The SWIFT MT700 is the official electronic message format used by banks worldwide to issue a Documentary Letter of Credit (LC) under the ICC UCP 600 rules. It standardizes and secures the transmission of LC instructions between issuing and advising banks.
At NNRV, we specialize in drafting, reviewing, and coordinating MT700 messages through top-tier issuing banks, ensuring payment security and clarity for international trade partners.
"We only trade under MT700 LCs now. With NNRV handling the message, there’s zero risk of miscommunication." – Sonia P., Agro-exporter – Morocco
Key Benefits of Using MT700
- ✅ Global Bank Compatibility: Universally accepted format for LCs.
- ✅ Legal Security: Enforceable under UCP 600 rules.
- ✅ Instant Bank-to-Bank Transmission: Sent via SWIFT network.
- ✅ Verified Instructions: Reduces human error or manipulation.
- ✅ Required for Most Cross-Border LCs: Standard in 200+ countries.
MT700 Workflow – Step by Step
| Step | Action |
|---|---|
| 1 | Buyer & Seller sign a trade agreement (INCOTERMS, shipment windows, document requirements). |
| 2 | Buyer requests LC issuance from their bank (applicant/issuing bank). |
| 3 | Issuing bank transmits the LC via SWIFT MT700 to the advising bank. |
| 4 | Seller reviews the LC, ships goods, and presents documents per LC terms. |
| 5 | Issuing bank examines documents and pays/accepts upon compliance. |
Documents Needed for MT700
- Final sales contract including LC terms
- Buyer & seller KYC files (compliance/screening)
- Draft LC (by NNRV or buyer’s bank)
- Bank coordinates (SWIFT/BIC, IBAN/Account)
- Commercial documents (Proforma Invoice, Invoice, Packing List, Bill of Lading or Air Waybill, Insurance, Certificate of Origin)
Every field is aligned to ISBP 745 to reduce discrepancy risk.
Why Use SWIFT MT700?
| Feature | Benefit |
|---|---|
| Official SWIFT LC format | Trusted by banks worldwide |
| UCP 600 rule-set | Clear legal protection for both parties |
| Structured, field-by-field | Machine-parsable, reduces ambiguity |
| Trackable & timestamped | Full audit trail and message trace |
| Backbone for all major LCs | Required in most cross-border flows |
NNRV MT700 Structuring Process
- Drafting: Prepare a clean MT700 draft, field-by-field.
- Alignment: Match contract clauses, bank conditions, and document list.
- Transmission: Coordinate with issuing bank to send SWIFT to advising bank.
- Monitoring: Confirm arrival, advising/confirming actions, and any queries.
- Presentation: Coach on document preparation and follow payout through.
SWIFT Message Types – Overview
| SWIFT Type | Purpose | Payment Binding? |
|---|---|---|
| MT700 | Primary LC issuance | ✅ Yes |
| MT799 | Pre-advice / intent | ❌ No |
| MT760 | SBLC / Guarantee issuance | ✅ Yes |
| MT199 / MT999 | Free-format instructions | ❌ No |
Trusted Banks That Issue MT700
- HSBC
- Standard Chartered Bank
- Deutsche Bank
- Citibank
- BNP Paribas
- …and 15+ other global banks
Client Testimonials
"Using MT700 LCs with NNRV gave our company full confidence in cross-border transactions. Everything is traceable, compliant, and secure." – Jean M., Import-Export Manager, France
"Thanks to NNRV and MT700, our shipments were faster and risk-free. It’s our preferred payment tool for international trade." – Linda K., Agricultural Exporter, Canada
MT700 Reimbursement – Bank-to-Bank Payment Authorization
Objective
This article explains how MT700 reimbursement enables the issuing bank to authorize a reimbursing bank to pay the confirming bank once compliant documents are presented, ensuring secure and traceable payments in international trade.
What Is MT700 Reimbursement?
An MT700 reimbursement is a SWIFT message or instruction that allows the issuing bank to authorize a reimbursing bank to pay the confirming bank or beneficiary. This ensures that exporters receive guaranteed payment once they present documents in compliance with the Letter of Credit terms.
Key Benefits
- ✅ Payment Security: Confirms that funds are available through the reimbursing bank.
- ✅ Reduced Counterparty Risk: Payment flows are pre-authorized by the issuing bank.
- ✅ Traceable Transactions: Fully documented via SWIFT network for audit and compliance.
- ✅ Global Recognition: Compliant with UCP 600 and accepted by banks worldwide.
How the MT700 Reimbursement Process Works
- Buyer requests LC issuance from their bank (MT700).
- Confirming bank accepts the LC and may require a reimbursing bank.
- Issuing bank sends MT700 reimbursement authorization to the reimbursing bank.
- Exporter presents compliant documents to the confirming bank.
- Reimbursing bank pays the confirming bank, completing the transaction.
Documents Required
- Original MT700 issued by the buyer’s bank
- MT710 confirmation (if applicable)
- Export contract and commercial invoice
- KYC/AML documentation
- Shipping documents (B/L, AWB, packing list, insurance certificate)
Roles in MT700 Reimbursement
| Role | Responsibility |
|---|---|
| Issuing Bank | Authorizes the reimbursing bank to pay the confirming bank once documents are compliant. |
| Reimbursing Bank | Pays the confirming bank based on MT700 reimbursement authorization. |
| Confirming Bank | Receives payment upon document compliance and ensures exporter is paid. |
| Exporter / Beneficiary | Presents documents per LC terms to the confirming bank for payment. |
| Importer / Applicant | Ensures issuing bank has pre-authorized payment through reimbursing bank. |
Trusted Banks for MT700 Reimbursement
- HSBC, Citibank, Deutsche Bank, BNP Paribas, Standard Chartered
- Barclays, JPMorgan Chase, UBS, Credit Suisse, ING Bank
- Regional banks can also serve as reimbursing banks depending on trade corridors (EU, US, APAC, MEA)
Client Insights
"With MT700 reimbursement through our chosen bank, we completed a $5M shipment with zero payment risk. The authorization process is clear and traceable." – Thanh N., Electronics Exporter
"NNRV guided us in selecting the correct reimbursing bank for MT700, ensuring smooth cross-border payments." – Sonia P., Agro-Exporter, Morocco
Why MT700 Reimbursement Is Essential
- Guarantees exporter payment once documents are compliant
- Reduces financial and operational risk in cross-border trade
- Provides a fully traceable SWIFT message trail
- Supports secure and efficient international trade cycles
MT700 – Strategic Use & Best Practices
Objective
This article illustrates how businesses can leverage MT700 Letters of Credit strategically, optimizing international trade payments and minimizing financial risk.
Storytelling Example
"By structuring our MT700 LC carefully with NNRV, we ensured zero discrepancies, accelerated shipment, and secured a $3.2M transaction across multiple corridors. The strategic alignment with our bank network was key." – Marco L., Machinery Exporter
Strategic Use of MT700
- ✅ Securing Payment: Ensures exporter receives payment upon compliant document presentation.
- ✅ Leverage for Financing: LCs can be used to obtain financing from confirming or reimbursing banks.
- ✅ Risk Mitigation: Reduces credit risk and ensures cross-border compliance.
- ✅ Optimizing Trade Corridors: Structure LC with the correct issuing and confirming banks based on regions (EU, US, APAC, MEA).
- ✅ Facilitating Large Transactions: MT700 allows scaling transactions safely, from hundreds of thousands to tens of millions USD.
Best Practices for MT700 Structuring
- Pre-Assessment: Conduct KYC and RWA/POF checks before requesting LC issuance.
- Draft Carefully: Align all LC clauses with commercial contract and shipment terms.
- Use Confirming Banks: Add an extra layer of security for the beneficiary.
- Align with ISBP 745: Reduce discrepancies by following international best practices in document examination.
- Track SWIFT MT700 Messages: Monitor transmission and acknowledgment in real-time.
- Clear Communication: Coordinate closely between issuing, confirming, and reimbursing banks.
Common Pitfalls to Avoid
- Incomplete or inconsistent LC fields
- Failure to specify confirming or reimbursing banks when required
- Non-alignment between commercial contract and LC terms
- Ignoring local regulatory requirements in export/import countries
Roles in Strategic MT700 Usage
| Role | Strategic Responsibility |
|---|---|
| Issuing Bank | Ensure MT700 aligns with UCP 600 and trade contract; authorize reimbursing bank if needed |
| Confirming Bank | Provide payment assurance; mitigate risks for exporter |
| Reimbursing Bank | Execute payment upon compliance; optional in high-value transactions |
| Exporter | Ensure document compliance; use LC strategically for financing or risk management |
| Importer | Provide clear instructions; pre-authorize reimbursing bank if required |
Client Insights
"Following NNRV’s MT700 best practices, we avoided all common discrepancies and completed the transaction faster than expected." – Marco L., Machinery Exporter
Conclusion
Strategically leveraging MT700 LCs allows exporters and importers to secure payments, optimize financing, and reduce operational risk. Following structured processes, engaging confirming/reimbursing banks, and aligning with ISBP 745 ensures smooth cross-border transactions.
Top 40 Banks Supporting MT700 Reimbursement
Objective
This article highlights the banks that accept or facilitate payments via MT700, helping users identify reliable financial partners for secure cross-border transactions. Choosing the right bank reduces risk and ensures smooth reimbursement processes.
Indicative List of 40 International Banks for MT700
| # | Bank Name | SWIFT / BIC | Rating | Settlement Time | Transaction Range (USD) | Corridors |
|---|---|---|---|---|---|---|
| 1 | HSBC | HSBCGB2L | A+ | 24-48h | 50k – 50M+ | EU, US, APAC, MEA |
| 2 | Standard Chartered Bank | SCBLGB2L | A | 24-48h | 50k – 50M+ | APAC, MEA, EU |
| 3 | Deutsche Bank | DEUTDEFF | AA | 24-48h | 100k – 100M+ | EU, US, APAC |
| 4 | Citibank | CITIUS33 | A+ | 24h | 50k – 75M | US, EU, APAC |
| 5 | BNP Paribas | BNPAFRPP | AA | 24-48h | 50k – 50M+ | EU, MEA |
| 6 | Barclays | BARCGB22 | A+ | 24-48h | 50k – 50M+ | EU, APAC, US |
| 7 | UBS | UBSWCHZH80A | AA | 24-48h | 100k – 100M+ | EU, APAC, US |
| 8 | Credit Suisse | CSGNCHZZ80A | AA | 24-48h | 100k – 75M | EU, APAC |
| 9 | JPMorgan Chase | CHASUS33 | A+ | 24h | 50k – 100M+ | US, EU, APAC |
| 10 | ING Bank | INGBNL2A | A+ | 24-48h | 50k – 50M+ | EU, APAC |
| 11 | Societe Generale | SOGEFRPP | AA | 24-48h | 50k – 75M | EU, MEA |
| 12 | Bank of America | BOFAUS3N | A+ | 24h | 50k – 100M+ | US, EU |
| 13 | Morgan Stanley | MSNYUS33 | A+ | 24-48h | 50k – 100M | US, EU, APAC |
| 14 | Royal Bank of Canada | ROYCCAT2 | AA | 24-48h | 50k – 75M | US, APAC |
| 15 | Toronto-Dominion Bank | TDOMCATTTOR | A+ | 24-48h | 50k – 75M | US, EU |
| 16 | ANZ | ANZBAU3M | A+ | 24-48h | 50k – 50M | APAC |
| 17 | Commonwealth Bank | CTBAAU2S | A+ | 24-48h | 50k – 50M | APAC |
| 18 | Westpac | WPACAU2S | A+ | 24-48h | 50k – 50M | APAC |
| 19 | National Australia Bank | NABAAU2S | A+ | 24-48h | 50k – 50M | APAC |
| 20 | Banco Santander | BSCHESMM | AA | 24-48h | 50k – 50M | EU, APAC |
| 21 | UniCredit | UNCRITMM | AA | 24-48h | 50k – 50M | EU |
| 22 | Intesa Sanpaolo | BCITITMM | AA | 24-48h | 50k – 50M | EU |
| 23 | Rabobank | RABONL2U | AA | 24-48h | 50k – 50M | EU |
| 24 | Nordea Bank | NDEASESS | AA | 24-48h | 50k – 50M | EU, APAC |
| 25 | DNB Bank | DNBANOKK | AA | 24-48h | 50k – 50M | EU |
| 26 | SEB | ESSESESS | AA | 24-48h | 50k – 50M | EU |
| 27 | Bank of China | BKCHCNBJ | AA | 24-48h | 50k – 50M | APAC |
| 28 | Industrial & Commercial Bank of China | ICBKCNBJ | AA | 24-48h | 50k – 50M | APAC |
| 29 | China Construction Bank | PCBCCNBJ | AA | 24-48h | 50k – 50M | APAC |
| 30 | China Merchants Bank | CMBCCNBS | AA | 24-48h | 50k – 50M | APAC |
| 31 | Mashreq Bank | MSAQAEAD | A+ | 24-48h | 50k – 50M | MEA |
| 32 | Emirates NBD | EBILAEAD | A+ | 24-48h | 50k – 50M | MEA |
| 33 | Qatar National Bank | QNBAQAQA | A+ | 24-48h | 50k – 50M | MEA |
| 34 | First Abu Dhabi Bank | NBADAEAD | A+ | 24-48h | 50k – 50M | MEA |
| 35 | Gulf Bank | GBKBAEAA | A | 24-48h | 50k – 50M | MEA |
| 36 | National Bank of Kuwait | NBOKKWKW | A+ | 24-48h | 50k – 50M | MEA |
| 37 | Bank of Tokyo-Mitsubishi UFJ | BOTKJPJT | A+ | 24-48h | 50k – 50M | APAC |
| 38 | Sumitomo Mitsui Banking Corp. | SMBCJPJT | A+ | 24-48h | 50k – 50M | APAC |
| 39 | Mizuho Bank | MHCBJPJT | A+ | 24-48h | 50k – 50M | APAC |
| 40 | DBS Bank | DBSSSGSG | AA | 24-48h | 50k – 50M | APAC |
Roles in MT700 Reimbursement
- Issuing Bank: Issues the LC and guarantees payment.
- Confirming Bank: Adds its own confirmation to strengthen payment security.
- Reimbursing Bank: Authorized to pay the confirming bank upon presentation of compliant documents.
- Exporter / Beneficiary: Ships goods and presents documents per LC terms.
- Importer / Applicant: Requests LC issuance and ensures timely payment via the issuing bank.
Client Insights
"Using recommended banks for MT700 ensures our exporters get paid quickly and securely. NNRV's guidance saved us weeks of potential delays." – Mohamed R., Exporter, UAE
"Selecting the right reimbursing bank is critical for cross-border trade. NNRV helped us choose the safest banks for every corridor." – Laura K., Import Manager, Germany