Wire Transfer Update

Important changes are on the horizon for Wire Transfers.







Let's make sure you're prepared for changes that go into effect July 14, 2025.

 

Changes are coming to how wire transfers are processed! First Community Bank is following the Federal Reserve’s (Fed) lead and replacing the FAIM format requirements for wire transfers. 

The format you’re accustomed to using is being replaced across the United States in favor of the ISO 20022 (ISO) format, which is a global standard used by many financial institutions. We know there are many ways to pronounce ISO 20022. So, let’s make it official that First Community Bank is on team “eye-so-twenty-oh-twenty-two”.

What to expect Day 1:
  • Wire templates WILL NOT convert after July 14, 2025 – If you have saved wire templates, you’ll need to recreate them in the new system starting July 14th. 
  • Format and Field Changes – Any FAIM formatted wires transmitted on or after July 14, 2025 will be rejected by the FED.  See the information below for additional details. 
 
 
 


What you can do now to prepare:
  • Review your wire templates – Delete any you no longer need.
  • Save copies of important templates – Download, print, or screenshot them before July 10th.
  • Stay tuned for updates – Continue to visit this Resource Center for updates.
  • Log in early on July 14th – Make sure you can access the new format and send wires without delay.

























Please review these helpful resources regarding the new wire transfer format: 

 
 

Wire Transfers through Digital Banking for Business:

 
 

Digital Banking for Business

Key Terminology Changes

Here are some key terminology changes that will take place:

FAIM Format (current) ISO 20022 Format (effective July 14, 2025)
Recipient Creditor
Originator Debtor
Originating Bank/Sending Bank Debtor AND Instructing Agent
Recipient Bank Creditor Agent
Beneficiary Institution Instructed Agent
International Intermediary Bank Intermediary Agent
Routing Number Routing/ABA Number
Reference Beneficiary Reference Beneficiary
Address Line 1 Building Number and Street Name
Address Line 2/3 Department, Sub Department, PO Box, Building Name, Room, Floor, Town Location, District Name
City Town Name
State Country Subdivision
Zip Code Post Code
Country Country
Account Number Account Number
Amount Amount
Notes Remittance Information
 
 
On-Screen Changes:
FAIM Wires
ISO 20022 Wires













If you have any additional questions or concerns, please contact the First Community Bank Commercial Services team at (855) 529-7945 or email us at CommercialServices@fcbinc.com