Credit Enhancement | POF | PROOF OF FUNDS via SWIFT



Target Customers
It is applicable to underfunded persons(*) who need to provide real qualified financial proof to the non-government agency via SWIFT system.
* Excluding customers of immigration, student-visa and litigation purpose.

Functional Features and Price
Since 2008, we have been focusing on how to increase the visible liquidity of customers to assist them with completing their high-reward transactions in the worldwide scale.

  • SWIFT-MT 195, 595, 795: General queries, conventions or binding other messages.
    Cost: Free.

  • SWIFT-MT 199: The ability of future payment.
    Reply period on SWIFT: 15 days.
    Effective period on SWIFT: 3 months.

    Amount limit: 400 million USD to 1 billion USD.
    Cost:  1.7%

  • SWIFT-MT 535: The utilizing of financial leverage on securities margin trading.
    Validity period on SWIFT: 30 days.
    It can be extended up to 30 days.

    Amount limit: 500 million USD to 5 billion USD.
    Cost: 1.2% on the base period with 0.12% increase for each additional day (30 days for maximum)

  • SWIFT-MT 799: The capacity of the fulfillment to issue a guarantee.
    Reply period on SWIFT: 15 days
    Effective period on SWIFT: 3 months

    Amount limit: 400 million USD to 1 billion USD.
    Cost: 2.0%

  • SWIFT-MT 940, 941, 942: The presentation for financial strength in a single account.
    Countercheck limit on SWIFT: 7 days
    It can be extended up to 30 days.

    (940, 942)
    Amount limit: 300 million USD to 2 billion USD
    Cost: 1.9% on the base period with 5800USD increase for each additional day (30 days for maximum)

    Amount limit I: 300 million USD to 999 million USD
    Cost: 1.1% on the base period with 5800 USD increase for each additional day (30 days for maximum)

    Amount limit II: 1 billion USD to 5 billion USD
    Cost: 1.0% on the base period with 5280 USD increase for each additional day (30 days for maximum)

Cooperative banks - choose one from these banks to send your proof of funds.

  • BNP Paribas, Paris

  • Raiffeisen Bank International, Vienna

  • The Development Bank of Singapore Limited, Singapore

  • RBC Royal Bank, Montreal

  • Mega International Commercial Bank, Taipei

  • Swedbank, Stockholm

Service Flow

  1. Materials should be prepared in advance
    * Scanned copies of passport and ID card in PDF format.
    * Completed form of customer general information.

  2. In order to protect customers, we will review the feasibility of service applying to their trade within 3 days after receiving the customer information.

  3. According to reviewed results, turn down service or inform the customer to send a receiving coordinate to us.

  4. Verify the authenticity of the receiving coordinate with cost-free for customers. If the verifier approves the result, we will request the customer to offer FIN type, message detail and a filled order application. And if not, we will notify him to stop trading with the receiving coordinate owner as soon as possible.

  5. Open a joint account (tenants-in-common account) in the bank designated, and deposit the funds according to the amount requested by the customer. Afterward, add customer as a second named party to the account.

  6. Send an SWIFT-MT N95 via SWIFT to the receiving bank for binding a proof of funds that will be sent from the customer's bank. The inquiry field of N95 message embodies FIN type, sending time and amount of funds about the next one. We are able to reconfirm the ability and authenticity of the holder of receiving account by the response in an SWIFT-MT N96 from the receiving bank.

  7. Customer pays the fee to our account specified if the binding message is accepted by the receiver of N95 message.
    (Regular customers only pay 60% of the cost.)

  8. We will launch a command for sending message after the fee payment, and send the proof of funds via SWIFT under the customer's name at the scheduled time.
    (Regular customers must pay the remaining 40% within 24 hours after receipt of the proof of funds.)

  9. After the effective period is expired, the name of the customer will be removed from the joint-account in accordance with preset documents.

Risk Prompt

  • In order to protect customers and save our precious time, we have to double-test the status of receiving account and verify all relevant information.

  • SWIFT-MT N95 is usually applied to incidental queries in bank level communication. For financial institutions in some situations about short Q&A, this kind of message is more efficient than others used for account level communication. A few small receiving banks will not respond by sending a SWIFT-MT N96 message after receiving an N95 one, or will not even notify the holder of the receiving account. Customer should ask the recipient if they accept the SWIFT-MT N95 as appointment before applying the credit enhancement service. If he disagrees, the customer should not use our service. Or exclude the step of N95 and send the proof of funds message directly to the receiving coordinate.

  • For common accounts, N95 is usually approved but not used frequently. So once the receiver asks why to send the additional message(N95), our customer should answer to the other party: Due to capital operations, the associate of customer needs to use this FIN for rational collection of funds.

  • Credit enhancement service is designed to enlarge the original size of the customer's funds to more than 50 times on the SWIFT platform. Service is service only as it serves, although there are real funds to support such cash amounts shown in each sending account. Our customers should not confess to their counterparty that they will receive a proof of funds and it is sent base on the capital service of third party. Otherwise, no matter how good the proof of funds is, it will not be accepted by the customer's counterparty.

  • In previous experiences, some dishonest customers claimed ownership to the funds of the joint accounts and related interest. Therefore, we strictly prelimit the contacts between the customer and the bank of account to avoid this situation. Once we know that a customer has any attempt to touch the sending account, we will immediately block his rights, remove his name, and close the account.

  • However challenging a job based on various customer demands may be, we always accomplish it within our resources and expertise. But at the same time, we are still unable to fully know their final purpose. Customers who use the credit enhancement service might seem to conceal scheme and have some kind of well-meaning deception to his counterparty. This is perhaps a part of the fact. Otherwise, why do customers need us to provide funds, accounts, and send messages on their behalf via SWIFT?
    For this reason, we are not allowed to participate in the customer's business during the service period. And we also not willing to be affected by any possible dispute between our customer and their counterparty after we perfectly complete the commissioned work.

  • In sum, we only use email to keep in touch with such customers who apply credit-enhancement service, and customers should turn to other service providers in case of dissent on this condition.

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Address: Room 127, No.2, Kaitakelan Blvd., Taipei City 10048, TW
Bank Code: 0170860,  SWIFT Code: ICBCTWTP086,  FIN: MT-999