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Hi,
Take a look at the changes to Drawdown Requests and Responses in ISO 20022!
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What is ISO 20022 and why?
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.
We highly recommend you log in to the PATH
test site to test the ISO 20022 wire format
prior to the July 14, 2025, effective date.
Click here to access the PATH test site »
If you need help logging in, please contact your PATH administrator. If your administrator needs help logging in, please have them email path@bbok.com.
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Drawdown Requests and Responses
ISO 20022 introduces significant changes to how drawdown requests and responses are processed. First, you will now use a drawdown request instead of the previous DRB and DRC. You will need to specify if it is a customer drawdown request or a consumer drawdown request. Input the information of the initiating party, which identifies who is making the drawdown request. Additionally, there will be a section for the credit agent, which refers to the FI where the drawdown transfer should be directed if the request is approved. You can also select the date the drawdown is requested. Bankers’ Bank of Kansas recommends deriving whenever possible to reduce errors. Below, you will find images of the screen and the fields that have been described:
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If you are decide to refuse the drawdown request, you will need to select either a derived response or a manual response.
Derived Refusal
In the drawdown information section, you must provide the reason for the refusal, which is mandatory, along with optional additional information unless the reason NARR (Narrative) is selected. An example of this is:
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Manual Refusal
You will select a drawdown response as the wire transfer type and fill in the relevant information. It is necessary to select the correct field in transactions status, and you must complete the Message ID with the IMAD of the incoming drawdown request.
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A drawdown payment can also be derived or manually created.
Drawdown Payment Derived
This will be similar to a derived response.
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Drawdown Payment: Manually Created
For customer drawdown payments you must create the customer credit transfer, select CTRD-Customer Drawdown Transfer, and input the appropriate fields. For a Bank Drawdown Transfer, you will create a FI Credit Transfer, select BTRD Bank Drawdown Transfer, and input the appropriate fields.
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Return Payment: Manually Created
Populate the basic information section and the information for the return. Next, populate the original message information section with the information for the payment that was received and being returned. Finally, populate the return reason information section.
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To better understand these changes, view the video linked below.
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| Click Here to View the Drawdown Requests and Responses Video
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Our next bulletin will focus on return payments, payment status, and return requests.
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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 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
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What is ISO 20022, Message Definitions, and Wire Templates
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Originator vs Debtor & Beneficiary vs. Creditor
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Searching and Deriving Wires
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Drawdown Requests and Responses
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Return Payments, Payment Status, and Return Requests
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Wire Templates
You will need to convert all your wire templates to the ISO 20022 format. To facilitate this transition, you will have access to both legacy wire templates and ISO wire templates. This setup will enable you to use your existing wire templates while gradually changing them to the new format.
The new ISO 20022 format does not allow the use of the same template names that were used in legacy templates. Therefore, you will need to come up with new names for your ISO 20022 templates.
*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.
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.
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| View the ISO 20022 Resource Page
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Our mailing address is:
Bankers' Bank of Kansas | 555 N Woodlawn, Bldg 5 | Wichita, KS 67208 US
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