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What you need to know about the TD eTreasury® update

ISO 20022 is a significant industry initiative that will help standardize payments and information reporting globally, thereby making your payments more secure and transparent. Many of these enhancements will only impact backend operations at the Bank, but some will impact the way you send Wire Transfers.

What's changing:

  • Recipient Address is currently an optional entry, but will become required for wires sent within the US
  • Recipient Country/Region is a new field. It is currently optional, but will become mandatory for all outgoing wires in the future.

Prepare for the transition:
We strongly recommend that you begin making Recipient address updates in TD eTreasury to the following areas as soon as possible to ensure a smooth transition and no negative impact:

  • Recurring Wires
  • Stored Templates
  • Stored Recipients
  • Future-Dated Wires
  • Wire Import Files

Note: For customers who also use TD FTExpress to originate wires through a host-to-host process, these changes have already been implemented. No further action is required.

What's new, what's changing

  • Best Practice: Accurate Address

    • Be mindful: always provide an accurate address for your Beneficiary Payee. Not doing so can lead to errors and delays.
    • If in doubt, verify the address with your Beneficiary.

  • Beneficiary Address will be required

    • Domestic Wires will soon require at least two lines of the beneficiary address fields.
    • International Wires already have this requirement.

  • Country Field

    • A new optional drop-down list to select the Beneficiary's country is now in the address section of all wire forms.
    • It will become a required field, even if the country is indicated in the address lines. Begin using it now to curtail future errors.

  • Learn more about ISO 20022

    • ISO 20022 is a global standard for financial messaging between banks and other participants in the financial system regarding business transactions and customer information.
      Money Movement and ISO 20022

TD eTreasury update FAQs

It is a standard introduced by The International Organization for Standardization (ISO) to structure, extend, and enrich the data exchanged in the electronic messages between Financial Institutions. FedWire is adopting these standards across all wire payments, including domestic and international.

  • Indirectly:

    All legacy message format used by the FED and SWIFT networks will be replaced by the new ISO 20022 standard format. It will be transparent for TD eTreasury Users.

  • Directly:

    Some optional information will become mandatory in the new ISO 20022 standard. For instance, Recipient's Address for Domestic Wires and Recipient's Country for both Domestic and International Wires. TD eTreasury Users will be required to provide this info starting from 2025.

You can contact us at 1-866-475-7262; available Monday - Friday 7:30-8 ET, Saturday: 9-1:00 ET, Sunday: closed, or by email tmss@td.com

The beneficiary (recipient) should be able to provide their full wire instructions, including the proper address. Please reach out to the beneficiary for their address and country.

Once Address and Country fields become required, the below validation message will prevent you from submitting the wire without Recipient's Address and Country.

Page errors alert

Customer will be informed well in advance in order to prepare existing templates and stored recipients.

Please follow this link for more information https://www.td.com/us/en/commercial-banking/iso-20022

We're here to help

Talk to a Treasury Management Services Support representative.

Mon-Fri, 7:30AM – 8:00PM ET

Sat, 9:00AM – 1:00PM ET

1-866-475-7262, Option 7 1-866-475-7262, Option 7

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