The Federal Reserve Banks will adopt the ISO 20022 message format for the Fedwire Funds Service on March 10, 2025. With this implementation, the Federal Reserve Banks will sunset the existing proprietary Fedwire Application Interface Manual (FAIM) format and replace all FAIM messages with ISO 20022 messages.
The Fed has received many questions from customers leading up to the implementation date. Click here to see the questions and answers.
Get ready now:
- TESTING: Testing is key to prepare for this migration. It’s important that you start testing your ability to send, receive, and reconcile every type of message your institution processes today in the ISO 20022 format. Click here to learn more about testing.
- EDUCATION: Live education events will be held for the FedLine Direct® and FedLine Advantage® communities. Click here to learn more and register. The next drop-in session, for all Fedwire Funds Service Community, is December 4, 2024. A dropin session for the Fedwire Funds Service New Contingency Service will be held on December 5.
- IMPLEMENTATION CENTER: Click here to access everything you need to know about this migration in the Fedwire® Funds Service ISO® 20022 Implementation Center.
- OTHER WIRE TRANSFER RESOURCES:
- Questions about wire transfers? Call the ePayResources Payments Answerline™ at 800-475-0585, Option 1.
- ePayAdvisors offers audits, risk assessments, and consulting for multiple payment channels including wire transfer. Learn more and request a proposal at epayadvisors.com.
- ePayU, our 24/7/365 learning platform, offers a variety of on-demand sessions that include critical information about wire transfer operations. Learn more at epayu.epayresources.org.