Wire Transfers Transition to ISO 20022
Wire Transfers Transitioning to ISO 20022 on July 14, 2025
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​Beginning July 14, 2025, all wire transfers will follow a new industry-standard payment messaging format. This change is being implemented nationwide by the Federal Reserve to improve processing speed, enhance security, and provide greater detail in wire payment information.
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Most notably, wire instructions will look different starting July 14. The way payment details are presented will change, and you will notice new or updated fields when sending or receiving wires.
What You Need to Know
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No action is required unless you use saved templates or recurring wire instructions. In those cases, we recommend reviewing them on July 14 to ensure all information remains accurate.
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If a third party (such as your accountant, bookkeeper, or payroll provider) initiates wires on your behalf, please share this update with them.
Steps to Take Ahead of the Change​
Log in to ensure your contact information, notifications, and user permissions are up to date.
On July 14, 2025, log in to confirm your recurring wire details are correct.
​​What is ISO 20022?
ISO 20022 is an international standard for financial messaging that is being adopted by banks across the U.S. It allows for more detailed and structured payment information, which improves processing efficiency, reduces manual errors, and enhances fraud detection. By creating a consistent framework for how payment data is shared, ISO 20022 strengthens security and transparency across financial institutions.
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As part of this change, you may notice some updates to common wire transfer terms.
Current vs New Wire Transfer Terminology
Questions? We’re Here to Help.
If you need assistance reviewing your wire templates or have any questions about this update, please reach out to our Treasury Management Team.
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