Hi,

Do you know what ISO 20022 is and

why it is important?

ISO 20022 is an international standard that we must adhere to beginning July 14, 2025. The standard provides us with consistent messaging, enhanced data capabilities, adaptability, global adoption, and ensures that our wire transactions are future-proofed for the evolving global economy.

*This change has no impact on transactions sent through Currency Exchange International.

Message Definitions

Customer Credit Transfer (pacs.008)

Definition: Customer transfers, including tax payments & customer drawdown transfers

Legacy Business Functions: CTR and CTP with subtype 00, DRW with subtype 32

Financial Institution Credit Transfer (pacs.009)

Definition: Bank transfers, including cover payments & bank drawdown transfers

Legacy Business Functions: BTR, CKS, CTP w/COVS, DEP, FFR, and FFS with subtype 00, DRW with subtype 32

Drawdown Request (pain.003)

Definition: Request for a drawdown payment

Legacy Business Functions: DRB and DRC with subtype 31 (request for credit)

Drawdown Response (pain.014)

Definition: Response to receive drawdown request, maybe a positive or negative response

Legacy Business Functions: DRB and DRC with subtype 33 (refusal to honor)

Payment Return (pacs.004)

Definition: The return (reversal) of a previously settled payment

Legacy Business Functions: CTP, CTP with COVS, CTR, BTR, DEP, FFR with subtypes 02 or 08

Return Request (camt.056)

Definition: Request to return a previously settled wire (payment order)

Legacy Business Functions: CTP with subtypes 01 or 07

Return Request Response (camt.029)

Definition: Response to a received return request; may be a positive or negative response.

Legacy Business Functions: SVC

Payment Status Request (pacs.028)

Definition: Request to receive the processing status of a previously sent payment or drawdown request.

Legacy Business Functions: SVC

Investigation Request (camt.110)

Definition: Request for information related to payments that have been sent or received.

Legacy Business Functions: SVC

Investigation Response (camt.111)

Definition: Response to a received investigation request

Legacy Business Function: SVC

Wire Templates

You will need to convert all your wire templates to the ISO 20022 format. To facilitate this process, you will have the option to use both legacy wire templates and ISO wire templates. This approach enables you to maintain your existing wire templates while transitioning them to the new format. The screens will appear as follows:

*Important note regarding Wire Templates: The address fields for ISO 20022 will be modified to a mandatory format, but the exact date for this change is still to be determined. This may require you to update or recreate wire templates later on. We want to make sure you are informed about this. Bankers’ Bank of Kansas will provide further details as they become available.

To better understand these changes, view the video linked below.

*The kick-off webinar below was recorded prior to the ISO 20022 implementation date being rescheduled from March 10 to July 14, 2025.

A Look Ahead

In our next bulletin we will discuss terminology changes; in the meantime, please review the list of legacy terms and the new ISO term:

More Resources

• BBOK ISO 20022 Resources Page - View Now

• Fedwire® Funds Service ISO® 20022 Implementation Center - View Now

• ISO 20022 Q&A Session Question Submission - Submit Your Questions Here

• Fedwire® Funds Service ISO® 20022 Implementation Rescheduled Announcement - View Now

Important Dates

Tuesday, June 3 - ISO 20022 Live Q&A Session - Register Here

Tuesday, June 24 - ISO 20022 Live Q&A Session - Register Here

Tuesday, June 24 - Final ISO 20022 Message Sent Out

Monday, July 14 - ISO 20022 Takes Effect

Communications Calendar

Need Help?

Submit your questions at any time to path@bbok.com and a BBOK ISO 20022 expert will be able to assist you.

If you want to confirm or add your team members to our ISO 20022 Bulletin communication list, please reach out to us at communications@bbok.com.

Our mailing address is:

Bankers' Bank of Kansas | 555 N Woodlawn, Bldg 5 | Wichita, KS 67208 US

Bankers' Bank of Kansas, 555 N Woodlawn BLDG 5, Wichita, KS 67208, United States
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