ISO 20022 TRANSITION.

The Federal Reserve is requiring all U.S. financial institutions to adopt the ISO 20022 standard for domestic wire payments. This change will modernize and standardize how payment data is exchanged—and it goes into effect on July 14, 2025.

ISO 20022 is a global messaging standard that improves the quality, structure, and richness of payment data. It replaces the current Fedwire format (FAIM) with a more consistent and internationally recognized format.

 

DEMO: UPDATES TO ONLINE WIRE SCREENS

ISO CONVERSION FAQ's

WHAT THIS MEANS FOR YOU.

FOR ALL WIRE USERS.

New required fields: All wire transfers must include:

  • The full physical address of the Beneficiary and the city and state of the Beneficiary’s Bank.
  • The purpose of the wire

Updated terminology and field labels: You’ll notice new naming conventions across forms and platforms.

IF YOU USE ONLINE WIRES.

Wire templates will not carry over. All existing templates will be deleted at the end of the day on July 10, 2025.

Templates must be recreated in the new ISO format starting July 14.

IF YOU USE MANUAL WIRES.

New Wire forms are required and will be distributed in June. Please begin using them immediately.

Old forms will no longer be accepted after July 10, 2025.

Ensure you have a Wire Agreement on file with us to avoid processing delays.

HOW TO PREPARE.

Here are a few steps you can take now to ensure a smooth transition:

  • Review and clean up your wire templates (online users).
  • Print or save copies of any templates you’ll need to recreate after July 14.
  • Begin using the new wire forms and destroy any outdated versions (manual users).
  • Contact vendors to confirm updated payment instructions, including full bank addresses.
  • Mark your calendar for July 14, 2025. Log in early that day to recreate templates and ensure you can send wires without delay.

QUESTIONS? WE’RE HERE TO HELP.

651.332.5275

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