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Wire Enhancements - ISO 20022

Important changes are on the horizon for Wire Transfers. Here’s some information to get you started on
what they are, what they mean, and when they will happen.
What is ISO 20022?

Federal Reserve Banks currently use a proprietary wire format that is specific to the Fedwire Funds Service. This current FAIM format (Fedwire Application Interface Manual) 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. Please note that your wire templates will not migrate over and have to be recreated.

When is this happening?

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

What can I be doing now?
  • You can download or print your wire templates prior to July 14th.
  • 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. or print your wire templates prior to July 14th.
  • Mark your calendars for July 14th, 2025! You’ll want to log in early on this day to recreate any templates that need to be sent. Note that Recurring International USD wires will require verification and modifications to ensure transmission. They will not process without manual intervention.