What's new?

Why is the wire payments industry moving to ISO 20022?

The issue

The use of inconsistent messaging standards makes communication among industry participants difficult. Payment processing is not always efficient. The ability to automate using data is limited. Fragmented standards make cross-border payments particularly challenging.

The solution

ISO 20022 is a common financial messaging language that will be adopted by all financial institutions and payment systems. Payments and messages will become richer, more structured and standardized. Clients can send more details with a payment and receive more data for reconciliation.

Coming soon

  • Testing resource: U.S. Bank will soon offer a testing tool to assist with verifying payment files in accordance with the new address requirements. You will receive further information and access to this resource in the coming months
  • Address requirements: These will be integrated into all initiation channels in 2026. If you you initiate file import in SinglePoint®, use Batch Wire, or Direct Wire for payments, development updates may be required.

Important address deadlines

The Fed has loosened the address requirements for 2026. 

See address requirements with examples (PDF)

Field Name Changes

The terminology of the sender and receiver of a wire will change within the wire industry. Targeted communication will be sent based on how you will be impacted by the field name changes.

Current field name

NEW field name

Originator

Debtor

Sending Institution

Instructing Agent

Ordering Institution / Originating Bank

Debtor Agent

Intermediary Institution

Intermediary Agent

Account with Institution / Beneficiary Bank

Creditor Agent

Beneficiary

Creditor

Sender to Receiver Information / Bank to Bank Information

Instruction for Creditor Agent

OBI / Originator to Beneficiary Information

Unstructured Remittance

NEW

Ultimate Debtor

NEW

Ultimate Creditor

Current field name

NEW field name

Originator

Debtor

Sending Institution

Instructing Agent

Ordering Institution / Originating Bank

Debtor Agent

Intermediary Institution

Intermediary Agent

Account with Institution / Beneficiary Bank

Creditor Agent

Beneficiary

Creditor

Sender to Receiver Information / Bank to Bank Information

Instruction for Creditor Agent

OBI / Originator to Beneficiary Information

Unstructured Remittance

NEW

Ultimate Debtor

NEW

Ultimate Creditor

Please open this PDF for details regarding where you will see the new field name terminology.

Information on Reporting

In 2025, we enhanced previous and current day reporting in SinglePoint, BAI transmission files and the API channel so that you can receive the standardized data fields that may travel with a domestic or international wire transfer.

If additional reporting changes are expected, we will continue to communicate those changes via SinglePoint messaging.

Information on Swift

  • MT to MX message types: Please refer to the table below to see the MX message types that will be available starting in November 2025.
  • Swift SCORE customers: Are not required to migrate to ISO; however, migration is recommended.
  • Swift advices: Wire advices (MT900 and MT910) will be available to transition to ISO 20022 equivalent formats in 2027. They will be replaced by CAMT.054.
  • Swift statements: Wire statements (MT940, MT942, and MT950) will be available to transition to ISO 20022 equivalent formats in 2027. They will be replaced by CAMT.053, CAMT.052, and CAMT.053.
Business woman at a desk using a laptop

Swift MT to MX conversion table

 

Legacy

MX conversion

End date

MT101 (Corporates)

PAIN.001.001.09

Pending Swift announcement

MT101
(Forwarding/Relay-Interbank)

PAIN.001

Nov. 2026

MT101 (ACK)

PAIN.002

Nov. 2026

MT103
MT103 STP
MT103 REMIT

PACS.008.001.08

Nov. 2025

MT202

PACS.009.001.08

Nov. 2025

Legacy

MT101 (Corporates)

MX conversion

PAIN.001.001.09

End date

Pending Swift announcement

Legacy

MT101
(Forwarding/Relay-Interbank)

MX conversion

PAIN.001

End date

Nov. 2026

Legacy

MT101 (ACK)

MX conversion

PAIN.002

End date

Nov. 2026

Legacy

MT103
MT103 STP
MT103 REMIT

MX conversion

PACS.008.001.08

End date

Nov. 2025

Legacy

MT202

MX conversion

PACS.009.001.08

End date

Nov. 2025

Testing PAIN and PACS message types

If you are a Swift customer, testing will be available in the coming months. General timelines by message type are outlined below. Once testing is ready to begin, we will send a Swift message with next steps.

 

Message Type

Description

Testing timeline

Migration available?

PACS.008

PACS.009

 

F.I. to F.I. Request for credit transfer

 

Testing is available

Yes

PACS.002

Acknowledgement

Testing is available

Yes

PAIN.001

Corporate to F.I. Request for transfer

Testing is available

Yes

CAMT.052
CAMT.053

Swift Statements

Target Q1 2027

No

CAMT.054

Swift Advice

Target 2027

No

Message Type

PACS.008

PACS.009

Description

 

F.I. to F.I. Request for credit transfer

 

Testing timeline

Testing is available

Migration available?

Yes

Message Type

PACS.002

Description

Acknowledgement

Testing timeline

Testing is available

Migration available?

Yes

Message Type

PAIN.001

Description

Corporate to F.I. Request for transfer

Testing timeline

Testing is available

Migration available?

Yes

Message Type

CAMT.052
CAMT.053

Description

Swift Statements

Testing timeline

Target Q1 2027

Migration available?

No

Message Type

CAMT.054

Description

Swift Advice

Testing timeline

Target 2027

Migration available?

No

What do I need to do?

ERP users

Reach out to your ERP or software vendor to learn how the plan to support ISO 20022 requirements.

Get support

Contact your U.S. Bank sales support team with questions during the transition.

Initiation

Start collecting and providing addresses when wires are initiated.

Communication

Please review communications as they are received. You will continue receiving notifications based on the services you have. This will include SinglePoint LaunchPoint messages, DDA statements and targeted outreach.

Let’s demystify ISO 20022

Get an in-depth explanation of all things ISO 20022 by reading this article written by our experts. Learn about the benefits ISO 20022 offers and how you can prepare for the transition.

Read the article

Additional resources

FAQ: Wire Payment Initiation

In 2025 there will be no file format changes to the Integrated Payables file format.

File format impacts will be dependent upon file type. Targeted communications started in December 2025 and will continue throughout 2026.

Please start by including addresses for parties as identified with the file specifications for the initiation channel you are using.

Starting in January 2026, SinglePoint Wire users were asked to begin updating templates and repeat codes to include, at a minimum, City (town) and State.

As Country is added to each wire payment type, users will be notified through LaunchPoint messages.

We recognize that this may be a new step for some customers, and appreciate your support as these updates are introduced. When possible, please include address information to help ensure wire payments are processed smoothly.

In the future, addresses for all parties within the payment will need to be included, including country. 

In other initiation channels (like Direct and Batch Wire) already offer country as an option.

Please visit the What Do I Need to Do section above for more information.

Examples of all ISO 20022 messages can be found in the SWIFT MyStandards Message Catalog (swift.com credentials required). The most common sections are:

· Payment initiation (pain)

· Cash management (camt)

Please see the Swift section.

By November 2026, all templates and repeat codes will need to be updated to include minimum address requirements for all parties involved in the wire (such as beneficiary / creditor).

You can start capturing addresses for all parties now.

Absolutely! You can provide addresses in all initiation channels.  

All references to ‘Agent’ refer to the financial institution associated with that field. Examples are:

  • Intermediary Agent
  • Creditor Agent
  • Debtor Agent

All references to ‘Party’ refer to the customers and corporates associated with that field. Examples are:

  • Creditor (fka Beneficiary)
  • Debtor (fka Originator)

Yes.

FAQ: Reporting and Wire Advice

Yes. All new data fields that accompany a wire payment credit or debit will report when the originator provides it.

In 2025, additional remittance information became available through SinglePoint and BAI transmissions. In 2026, we will continue expanding these capabilities by introducing additional reporting formats.

Data Extract reporting was not impacted in 2025. We will continue to expand reporting throughout 2026 and 2027.

In 2025, Wire Advice notifications were updated to include new field names and data that is provided with the wire payment (based on format limitations).

FAQ: Swift

Yes. The message payment types that U.S. Bank will be supporting can be found in this table.

The full list is available at swift.com/mystandards.

In 2025, U.S. Bank updated its core wire system to align with the Fedwire and SWIFT migrations to the ISO 20022 standard.

Building on this foundation, U.S. Bank will continue to expand ISO formatted payment capabilities across additional initiation and reporting channels throughout 2026 and 2027.

For U.S. Bank to be compliant, the core wire system will send and receive wire messages for domestic wires sent through Fedwire by July 2025. Swift international outbound messages by November 2025. Swift inbound was completed in 2023.

  • MT942: CAMT.052
  • MT940/950: CAMT.053
  • MT900/910: CAMT.054

U.S. Bank plans to offer clients the option of receiving their Swift Statements in MX/ CAMT format in 2026. Clients will be given the option to receive messages in MT, CAMT, or both.

Feedback or further questions?

Please reach out to your sales support team if you have any questions about the migration to ISO 20022 or related questions regarding U.S. Bank wire transfers.

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Disclosures

Deposit products are offered by U.S. Bank National Association. Member FDIC. Credit products are offered by U.S. Bank National Association and subject to normal credit approval. Eligibility requirements, restrictions and fees may apply.

U.S. Bank and SinglePoint are registered trademarks of U.S. Bank National Association.