IMPORTANT UPDATE:
ISO 20022 Wire Transfer Migration
Effective Monday, July 14, 2025
What is ISO 20022?
All wire transfers sent through the Federal Reserve will need to follow the ISO 20022 standards effective Monday, July 14, 2025. There are significant wire format and field label changes associated with this migration.
ISO 20022 is a global messaging standard designed to enhance the quality and efficiency of financial data exchange. The Federal Reserve is transitioning from its current proprietary wire format (FAIM) to ISO 20022, aligning with international practices and improving interoperability among financial institutions.
ACTION ITEMS FOR CASH MANAGEMENT NETWIRES CUSTOMERS!
DO NOT LOSE YOUR WIRE TEMPLATES!
Existing wire templates (FAIM format) will NOT be automatically converted with the upcoming migration. As of the migration date (Monday, July 14, 2025), Cash Management users will need to manually recreate their frequently used wire templates in the new ISO 20022 format.
What You Should Do Now:
- Review and Save Existing Wire Templates: Take note of any wire templates you want to use as of the migration date (Monday, July 14, 2025) and SAVE their details in your preferred format (e.g. printouts, screenshots, physical notes, etc.)
- Prepare for Transition: Plan for Cash Management users to recreate active wire templates using the new ISO 20022 format. Wire templates can be recreated as early as Monday, July 14, 2025.
- Plan Ahead:
Days Before Migration
Identify any wires that will need to be transmitted on Monday, July 14, 2025. Consider transmitting those wires on Friday (July 11, 2025) by the cutoff time.
Last Business Day Before Migration
Any wires transmitted after the default cutoff time on Friday (July 11, 2025) will be rejected by the Federal Reserve.
Migration Date and Onward
If there are wires to create/transmit on Monday, July 14, 2025, log in early to review, rebuild, and become familiar with in the new ISO format. To avoid potential issues, do NOT wait until close to cutoff to login and become familiar with in the new ISO format.
If you did not create/transmit a wire on Monday, July 14, 2025, log in early to review, rebuild, and become familiar with in the new ISO format. To avoid potential issues, do NOT wait until close to cutoff to login and become familiar with in the new ISO format.
Key Changes to Expect:
Beginning Monday, July 14, 2025, all wire transfers must comply with the ISO 20022 format. This update introduces significant changes to wire structure, field naming, and data input requirements.
Note: ACH transfers are NOT affected.
Key Terminology Changes:
FAIM Format (Current) |
ISO 20022 Format (Effective Monday, July 14, 2025) |
Credit Account Name |
Creditor |
Originator |
Debtor |
Originating Bank/Sending Bank |
Debtor AND Instructing Agent |
Beneficiary Bank |
Creditor Agent |
Receiving Bank |
Instructed Agent |
International Intermediary Bank |
Intermediary Agent |
Routing Number |
Agent ID |
Reference Beneficiary |
End to End ID |
Credit Account Address (lines 1-3)* |
Building Number, Street Name |
City |
Town Name |
State |
Country Sub Division |
Zip Code |
Post Code |
Country |
Country Code |
Account Number |
Account Number |
Amount |
Amount |
Remarks |
Remittance Information |
*Additional address fields available for Creditor Account Address in ISO include:
Post Box, Department, Sub Department, Building Name, Floor, Room, Town Location Name, and District Name
What to Expect on Day 1 (Monday, July 14, 2025)
ISO 20022 does not follow a one-to-one mapping with the current FAIM format, so address fields and other key data elements will look different. The following are examples of some of these changes:
- Credit Account Address (FAIM format) will be split into multiple specific fields (e.g. Building Number, Street Name, Town Name, Country Sub Division, Country Code, and Post Code) in ISO 20022.
- Additional Creditor Account Address Fields (not available in FAIM format) will be optional in ISO 20022.
- International wires will require the completion of additional fields (e.g. Town Name).
Recreate Repetitive (Transmit Templates) Wires:
Existing wire templates (FAIM format) will NOT be automatically converted with the upcoming migration. As of the migration date (Monday, July 14, 2025), Cash Management users will need to manually recreate their frequently used wire templates in the new ISO 20022 format.
Who to Contact for Assistance
- Cash Management NetWires Customers:
Contact the Electronic Banking Department - TCB.EBD@tx-communitybank.com - All Other Wire Customers:
Please contact your TCB Account Officer/Representative - https://www.tx-communitybank.com/locations
Anticipated ISO 20022 Cash Management Wires Input Screens
Below are the anticipated wire input screens for Domestic and International Wires. There is no guarantee that the version of the screens below will be identical to the LIVE (Monday, July 14, 2025) screens on Migration Day and onward. These images are intended to provide an approximation of the upcoming changes. ISO 20022 updates are happening now and may continue to happen well after the Migration Date. This means that layout changes are possible, and the screens below may become outdated.
Cash Management User Settings and ISO 20022
As of now, there are no anticipated changes to User Login Credentials, Wire Limits, Roles, and Event Alert notifications. NetTeller Cash Management profile Options (Personal, Account, Display, and Alerts) should remain same. It is possible that, although profile Options have remained the same, some settings may not be applied correctly through ISO 20022. If you notice any irregularities, please contact us.
Domestic Wires
International Wires