Preparing for Industrywide Wire Transfer Upgrade
We are preparing for an upgrade to the way wire transfers are processed, as Federal Reserve Banks transition to the ISO 20022 standard on July 14, 2025. This global data standard will modernize how financial institutions communicate and process payments.
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To accommodate this change, our wire transfer services will be temporarily unavailable starting at 1 p.m. Pacific Time on Friday, July 11, 2025.
We encourage members to plan ahead and submit any urgent wire requests before this time. Normal wire services will resume on Monday, July 14, 2025, with updated terminology and enhanced processing capabilities.
What is ISO 20022?
ISO 20022 is a globally recognized data standard that improves the clarity and consistency of payment messaging. It enables richer data sharing, especially beneficial for international transactions, and aligns U.S. systems with those already adopted by major financial institutions worldwide.
What's Changing for Members?
ISO 20022 introduces new terminology. For example, we will now refer to the Originator as the Debtor, and the Beneficiary as the Creditor.
To avoid delays or returned transactions, please continue to provide complete and accurate wire details.
Business Online Banking (BOB) users can still submit wire requests after the July 11 cutoff, but processing will resume on July 14.
This transition reflects BECU's commitment to meeting the industry standards that enable us to provide faster and more efficient wire services. For more information or assistance with wire transfers, please visit our Wire Transfers page or contact us.
Frequently Asked Questions
Will I be able to send wire transfers on July 11, 2025?
Wire transfer services will be unavailable after 1 p.m. Pacific Time on July 11, 2025, due to the system upgrade. Services resume on Monday, July 14.
Will I be able to receive wire transfers from July 11 to 14?
Yes, incoming wires will process as normal.
What should I do if I need to send a wire on July 11?
Please submit your wire request before 1 p.m. Pacific Time on July 11. If you miss the cutoff, you'll need to wait until July 14 to complete your transaction.
Will Business Online Banking be affected?
Members using Business Online Banking can still enter wire requests after 1 p.m. Pacific Time on July 11, 2025 but those requests will not be processed until July 14.