Beginning July 14, 2025, all wire transfers will be required to follow a new industry-wide messaging standard called ISO 20022. This change is required by the Federal Reserve and is not specific to CSB.
ISO 20022 is designed to make wire payments more secure, efficient, and accurate. It allows for richer data, better fraud prevention, and fewer errors in processing.
We’re here to help you prepare. Below, you’ll find key details, FAQs, and what this means for you.
ISO 20022 is a global standard for financial messaging, used by institutions around the world to streamline payment processing. It will replace the Federal Reserve’s current FAIM wire format with a more structured system that improves how banks communicate and process wire instructions.
This new format allows for enhanced data quality and consistency, making payments easier to track, harder to misroute, and more secure overall.
| Old Format | New Format |
|---|---|
| Sending FI ABA | Instructing Agent ABA |
| Sending FI Name | Instructing Agent Name |
| Originator | Debtor |
| Originating FI | Debtor Agent |
| Originator to Beneficiary Info | Remittance Information Unstructured |
| Old Format | New Format |
|---|---|
| Receiving FI ABA | Instructed Agent ABA |
| Receiving FI Name | Instructed Agent Name |
| Intermediary FI | Intermediary Agent 1 Name |
| Intermediary FI Name | Debtor Agent |
| Beneficiary FI | Creditor Agent |
| Beneficiary FI Name | Creditor Agent Name |
| Beneficiary (35 characters) | Creditor (70 characters) |
| Reference for Beneficiary | End To End Identification |
| Receiver FI Information | No equivalent |
| FI to FI Information | No equivalent |
Please refer to the following chart for how address formats will be updated.
| Old Format | New Format |
|---|---|
| Address Line 1 | No equivalent |
| Address Line 2 | No equivalent |
| Address Line 3 | No equivalent |
| No equivalent | Department |
| No equivalent | Sub-Department |
| No equivalent | Street Name |
| No equivalent | Building # |
| No equivalent | Building Name |
| No equivalent |
Floor
|
| No equivalent | Post Box |
| No equivalent | Room |
| No equivalent | Town Name |
| No equivalent | District Name |
| No equivalent | Country Sub-Division |
| No equivalent | Country |
| No equivalent | Post Code |
Do I need to be aware of any character limits in the address fields?
| Address Field | Character Limit |
|---|---|
| Department | 70 |
| Sub Department | 70 |
| Street Name | 70 |
| Building Number | 16 |
| Building Name | 35 |
| Floor | 70 |
| Country Sub Division | 35 |
| Post Box | 16 |
| Room | 70 |
| Post Code (Zip) | 16 |
| Post Code (Zip) | 16 |
| Town Name | 35 |
| Town Location Name | 35 |
| District Name | 35 |
| Country | 2 |
We will continue to send wire notifications as you receive them today. However, CSB will update the format, field names, and terminology to align with ISO 20022 standards.
