Upcoming Changes

💵 Payments

ISO 20022: Structured address requirements for wires and international rails

Both SWIFT and the Federal Reserve's Fedwire Funds Service are removing support for unstructured postal addresses as part of their ISO 20022 updates.

Modern Treasury will handle formatting your address data into the correct structured ISO 20022 fields.

You are responsible for ensuring the underlying address data itself, specifically locality (called "town" in the ISO 20022 specs) and country, is present on your accounts.

Rails in scope:

Modern Treasury PSP: all domestic wires.

Bring Your Own Bank: all wires (domestic and international/SWIFT), cross-border payments, and international rails such as SEPA, BECS, and CHAPS.

What to do: for any internal or external account that sends or receives in-scope rails, populate party_address with both locality and country. Review existing accounts now, and include these fields on any new accounts going forward.

Key dates:

• October 2026 — Modern Treasury begins validating that locality and country are populated on in-scope accounts.
• November 2026 — Unstructured addresses are rejected by the payment networks on in-scope payments.

We'll reach out directly to accounts missing party_address as these dates approach.

Questions? Contact [email protected].