As part of a global effort to modernize financial messaging, the Federal Reserve will adopt the ISO 20022 format for all wire transfers starting Monday, July 14, 2025. This new standard enhances efficiency, standardization, and data richness, ultimately improving the speed, accuracy, and transparency of wire transfers for both financial institutions and their clients.
What This Means for You
Wire transfer terminology and field requirements are changing. As a result, existing wire templates in HelmInOne will not be converted.
You may need to recreate them starting July 14.
What You Should Do Now
To prepare, we recommend the following:
Delete any wire templates you no longer use
Review your templates to ensure they match the new format.
- Domestic Wires (beneficiary or intermediary banks in the U.S.) must use ABA routing numbers and be linked to United States.
- International Wires (beneficiary or intermediary banks outside the U.S.) must use SWIFT codes and be linked to the correct country.
Need Help?
This step-by-step guide will walk you through updating your templates.
Questions?
Contact your Business Development Officer
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