Bank-to-Bank Procedures check0 / 1 answered · 0 correct
Check 1
What should you ask when shown an “RWA letter”?
RWA, BCL and Proof of Funds
Learn what these market terms may mean and why none should be accepted blindly.
RWA
“Ready, willing and able” is common market language, often used in proposed bank letters or messages. It is not one universal SWIFT instrument. The exact wording and bank commitment matter.
Reviewed: September 2026Standards and bank policy can change.How MyGreed classifies proceduresOfficial-source directory
BCL
“Bank Comfort Letter” is also used in different ways. Some banks provide limited-status or relationship letters; others avoid the term. A BCL is not automatically a guarantee or proof of available funds.
Proof of Funds
Proof of funds may mean account statements, bank confirmations or other evidence. Sensitive banking information should be handled securely, and documents can be forged.
Ask what is legally promised
Instead of relying on an acronym, identify the issuer, recipient, amount, conditions, expiry, governing law and whether the bank actually undertakes payment.
Source / standards noteProcedure terminology can be market-specific. MyGreed distinguishes formal rules/message functions from bank policy and negotiated transaction steps.
Remember thisAcronyms such as RWA, BCL and POF describe market concepts, not magic proof of a transaction.
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