The MT 670 Standing Settlement Instruction (SSI) Update Notification Request message is sent by an institution to SWIFT. It is an instruction to SWIFT to create the MT 671 Standing Settlement Instruction Update Notification for forwarding to:
one or more institutions or
all the institutions in one or more countries or
all institutions.
The MT 670 is used to specify standing cash settlement information for the Sender's own account or on behalf of another party. The party and account information in the SSI is then used in FX confirmations, payments messages, etc.
The MT 670 is sent by an institution to SWIFT. SWIFT forwards the SSI notification to the intended recipients as an MT 671:
