Swift Services


SWIFT, is a secure standardized form of communication between financial institutions.

SWIFT stands for Society for World-wide Inter-bank Financial Telecommunications and is an international organisation. It provides means of secure communications between Banks and its members. Membership to the society is regulated and only vetted applicants are permitted to use the system at varying access levels.
It ensures that banks can communicate with each other and provided validation and verification checks on their communications. It operates largely as a database of varying levels of communication and transmittance of financial documents and messages. Physical documents cannot be sent by SWIFT.
To be able to send and receive authenticated SWIFT messages one must be accepted and subscribed to the Society.
Banks will have a trained SWIFT operator responsible for the management of SWIFT messages, both out-bound and in-bound. In smaller Private Banks, this may be one single individual. Larger banks will have SWIFT operator departments.
Each SWIFT message will have a Message Type (or MT) depending on the database field. For example, MT 100 relates to cash transfers and the sending of client funds between banks. MT 700 relates to Documentary Credits and Guarantees.
It is important to not complicate or refer to these SWIFT Message Types in professional communications since it will not concern either the client or recipient and is meant for inter-bank communication only.

Swift Services

  1. Ready Willing and Able (RWA)

It is a financial instrument/ tool issued by banks or financial institutions on behalf of clients, demonstrating intent and capability (both financially and legally) to enter into a financial transaction. RWA’s are often also referred to as bank comfort letters. The RWA for security purposes is sent via bank swift from the issuing bank to the beneficiary bank

How does an RWA work?

We provide ready willing and able (RWA) letters for our clients, usually via SWIFT MT799 message. An RWA confirms that an asset the applicant has with the issuer is good, clear, clean, of non-criminal origin, and is unencumbered.

2. Proof of Funds

It is a financial instrument/tool issued by bank or financial institution that demonstrates that a person/company has the ability and funds available  to enter into a transaction. Its purpose is to ensure that the financial ability required for the transaction is procurable and legitimate. It is often used for funding projects that require large amounts of money to invest in, e.g real estate, power plants etc

How does it work?

Issuance of a proof of funds (POF) towards a beneficiary confirms that the entity/person has the quoted funds available with them. During the course of a transaction, the applicant presents the POF to the beneficiary, assuring them that the buyer can afford the transaction. Another important aspect in the document is its validity. Bringing a transaction of a large scale takes time to bring to a closure, the beneficiary needs to be aware of the date of expiry of the proof of funds, and aim to finalize the transaction before the document expires.

It should be noted that proof of funds are sometimes used by con artists to carry out financial scams. In accepting to be presented with a proof of funds, it is crucial to thoroughly investigate the other party to the transaction and running sufficient due diligence checks.

3. Advising of Swift Messages

Through our affiliates and correspondents who are proud members of SWIFT, we are able to assist financial companies and institutions in relaying their swift messages to the beneficiary institution. Our network has over 292 corresponding relationships with global financial institutions. We may on a case by case basis, subject to complying regulations, and KYCC we may facilitate adding (a) confirmations or an Insurance Guarantee to LC’s .

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Global Coverage

Global Coverage