Federal Deposit Insurance Corporation FDIC-Insured - Backed by the full faith and credit of the U.S. Government

Phone: 920-563-6616

Routing No.: 075902175

Wire Transfers

Starting July 14, 2025, the wire processing system is changing for all financial institutions, including PremierBank.

Digital Banking

Important changes coming to Wire Transfers

Starting July 14, 2025, the wire processing system is changing for all financial institutions, including PremierBank.

The Federal Reserve will implement the International Organization for Standardization’s (ISO) 20022 standard for wire processing on July 14, 2025. Beginning on that date, wire messages that do not conform to the ISO 20022 message format will be rejected by the Federal Reserve.

Please read below to answer any questions you may have about this change.

 

Questions and Answers

What is ISO 20022?

Currently, the Federal Reserve Banks use a proprietary wire format known as Fedwire Application Interface Manual (FAIM). This format is being replaced with ISO 20022, a global standard already used by many financial institutions.

When is this happening?

The Federal Reserve cutover to ISO 20022 from FAIM is July 14, 2025. The cutoff for you to submit a wire request for FAIM is 3pm on Friday, July 11. You can start submitting an ISO 20022 wire request at 8am on Monday, July 14. All wires sent on or after this date must be in the new ISO format.

What does this mean for you?

All wire transfers sent through the Federal Reserve must comply with ISO 20022 standards starting July 14, 2025. There are significant wire format and field label changes associated with this change including the naming conventions for the fields and their labels. The address fields are the biggest change.

What’s changing?
  • New fields and structure in the wire format
  • Updated terminology
  • Expanded address options for the Creditor Account Address, including:
    • Post Box
    • Department/Sub-Department
    • Building Name
    • Floor/Room
    • Town/Location Name
    • District Name
What should you do now?
  • Review and clean up templates: Delete any unused wire templates.
  • Work with us to update and convert any templates you plan to continue using.
  • Stay informed: Watch for updates and additional information we’ll provide leading up to the migration.
  • Mark your calendar for July 14, 2025: Be sure to log in early and verify that you can create and send wires using the new format.
What do I do on day one (July 14, 2025)?
  • Set aside time to verify that your wire templates converted correctly.
  • Explore the updated wire screens to get familiar with the new layout and terminology.
  • Allow extra time when submitting your first few wires to ensure they’re completed before the daily wire cutoff.
Who should you contact for assistance?

Call 920-563-6616 and ask to speak with a digital banking representative or stop by any banking location where a personal banker will be glad to assist you.

 

 

Below are some key terminology changes that will take place.

 

FAIM FormatISO 20022 Format (effective 7/14/25)
FAIM Format
Beneficiary
ISO 20022 Format (effective 7/14/25)
Creditor
FAIM Format
Originator
ISO 20022 Format (effective 7/14/25)
Debtor
FAIM Format
Originating Bank/Sending Bank
ISO 20022 Format (effective 7/14/25)
Debtor AND Instructing Agent
FAIM Format
Beneficiary Bank
ISO 20022 Format (effective 7/14/25)
Creditor Agent
FAIM Format
Domestic Intermediary
ISO 20022 Format (effective 7/14/25)
Instructed Agent
FAIM Format
International Intermediary Bank
ISO 20022 Format (effective 7/14/25)
Intermediary Agent
FAIM Format
Routing Number
ISO 20022 Format (effective 7/14/25)
Agent ID
FAIM Format
Reference Beneficiary
ISO 20022 Format (effective 7/14/25)
End to End ID
FAIM Format
Address Line 1
ISO 20022 Format (effective 7/14/25)
Building Number and Street Name
FAIM Format
Address Line 2/3
ISO 20022 Format (effective 7/14/25)
Department, Sub Department, Building Name, Floor, Room, Town Location Name, District Name, Post Box
FAIM Format
City
ISO 20022 Format (effective 7/14/25)
Town Name
FAIM Format
State
ISO 20022 Format (effective 7/14/25)
Country Sub Division
FAIM Format
Zip Code
ISO 20022 Format (effective 7/14/25)
Post Code
FAIM Format
Country
ISO 20022 Format (effective 7/14/25)
Country
FAIM Format
Account Number
ISO 20022 Format (effective 7/14/25)
Account Number
FAIM Format
Amount
ISO 20022 Format (effective 7/14/25)
Amount
FAIM Format
Additional Information
ISO 20022 Format (effective 7/14/25)
Remittance Information
FAIM Format
Purpose
ISO 20022 Format (effective 7/14/25)
Purpose