ISO 20022 Wire Change – What You Need to Know

Effective July 14, 2025, all wire transfers will be transitioning to a new global standard known as ISO 20022. This change affects how banks send and receive wire payment information and is designed to enhance security, improve the quality of transaction data, and ensure smoother global wire transfers.

What is ISO 20022?

ISO 20022 is a new, international standard for sending payment information between financial institutions. It provides a more structured and comprehensive data format for wire transfers, resulting in fewer errors, enhanced security, and improved tracking and compliance with international standards, while also aligning domestic and international wire processes for greater consistency and efficiency.

Update your wire templates by July 14, 2025, with the following mandatory information:

• Beneficiary Name (currently required)
• Beneficiary Address (full physical address is required)
• Beneficiary Bank Name
• Financial Institution Address (at least City and State)

Reach out to vendors or payees to make sure you have all the required information on file.

Click here for our current Wire Origination Guide.

For help updating templates or understanding what is required, please contact our Cash Management team at 888-572-9881.