Is your business ready for the new ISO 20022 address requirements? SWIFT has announced a deadline extension, but the shift to structured data is still inevitable. Find out how this affects your payment processes and what you need to do now.
SWIFT has announced a significant update regarding the transition from unstructured to structured postal addresses. Originally scheduled for 15 November 2026, the deadline has now been postponed to November 2027. This decision follows requests from various banking communities and will be mirrored by major market infrastructures, including SEPA and RTGS.
While this extension provides additional breathing room, BNP Paribas emphasises that structured and semi-structured addresses remain the ultimate target. Clients are encouraged to continue their implementation efforts without delay to ensure a seamless transition.
Key Updates and Requirements:
Connexis Cash: Starting 15 October 2026, the "town name" structured field will become mandatory for manual payment initiations (including international, intracompany, and certain domestic payments).
MT101 Messages: Unstructured addresses will be accepted for one more year, allowing more time to implement field 59F. However, the adoption of pain.001 via FINplus is strongly recommended.
CFONB and Local Formats: The CFONB320 format remains usable for another year, but users are urged to migrate to XML pain.001. Those continuing with CFONB320 must implement the strict format on line 3 to ensure the correct identification of Country Codes and Town Names.
Local Formats: Formats that do not support structured addresses will be decommissioned before the new 2027 deadline.
For technical support, documentation and self-testing tools are available via MyStandards. Clients are encouraged to contact their dedicated Cash Management Officer for further guidance during this transition phase.
Read the full newsletter for more detailed specifications.
ISO 20022 for Corporates newsletter – September 2026 > ENGLISH VERSION ACCESS HERE | FRENCH VERSION ACCESS HERE