The Federal Reserve announced that the implementation of ISO 20022 has been rescheduled to July 14, 2025. The information below reflects the new date.

On July 14, 2025, the Federal Reserve will implement ISO 20022 standards for wire transfers. ISO 20022 is the current global standard, but has not been adopted by the Federal Reserve until now. As a result of this single-day implementation, there will be changes to the format of wire transfers starting July 14. Many of these changes will be taken care of behind the scenes by INTRUST Bank, but to help you prepare, we put together what you need to know and actions you can take now.

What is ISO 20022

Federal Reserve Banks currently use a proprietary wire format that is specific to the Fedwire Funds Service. This current Fedwire Application Interface Manual (FAIM) is being replaced in favor of the ISO 20022 (ISO) format, which is a global standard used by many financial institutions.

What does this mean?

All wires sent through the Federal Reserve will need to be in compliance with the ISO 20022 standards before the deadline. There are significant wire format and field label changes associated with this migration.

When is this happening?

The Federal Reserve switch to ISO 20022 is July 14, 2025. All wires sent on or after this date must be in the new ISO format.

Here are some terminology changes that will take place:

Those address fields don’t seem to line up. What should we expect on Day 1 (7/14/25)?

You should plan to review your Creditors (currently known as Beneficiaries) on Day 1, especially those that are tied to any recurring wires. You won’t be able to make changes to Creditor information prior to the migration, so please ensure you plan to review in a timely manner on 7/14/2025.

International wires will require special attention and will not process the first time without manual intervention starting July 14. In addition, the field of Town Name ("City" in current terminology) does not exist currently and will be an ISO-required field as of July 14.

What can I be doing now?

• Please review your existing wire beneficiary list and delete any that you no longer need or use.
• Be aware of the upcoming changes and review all information we’ll be sharing with you up until the migration date.
• Mark your calendars for July 14, 2025. You’ll want to log in early on this day to ensure saved wire data is correct.

How is INTRUST helping us prepare for this change?

• As there isn’t a 1:1 ratio between FAIM and ISO fields, we’re only able to bring over limited amounts of data for wires. The biggest differences are the address fields, and for those changes, we will be moving the information from Address Line 1 (FAIM) to Street Name (ISO). There is a 70-character limit for the Street Name field. Any Address Line 1 entries will be truncated as necessary.

• For Domestic wires only: Not all of the new and segmented address fields are required, so if the data is slightly off, the wire should still be able to be sent if the following required fields have not changed:
  • Agent ID (Bank ID)
  • Agent Name (Bank Name)
  • Agent City (Bank City)
  • Agent State (Bank State)
  • Account Number
  • City/Town Name (City)
  • Agent Country
• We will also have reminder messaging on business online banking screens where Creditors are in use. This message is programmed to pop up once per session for two weeks to ensure all users understand they must verify Creditor information. Please note that you will still see the message even after you've verified your Creditor information.

Will we need to change the way we set up and send wires?

In business online banking, only the fields and their labels are changing. There are many behind-the-scenes changes, but we're taking care of those for you.

Below is a preview of how the screens will be different when creating a domestic creditor: