What is form mt760 used for?
A Swift MT760 (MT means Money Transfer) 760 is a blocked funds instrument. Your issuing bank will submitt a bank to bank message stating that they have blocked funds for a particular time frame specifically for the beneficiary of a recieving bank. Those funds are now an asset of the Beneficiary bank account. From there they can be entered into a trade platform, used for purchasing certain items or commodities, and sometimes used for a line of credit.
