What to expect
When initiating free-form Wires or Book Transfer payments, you will notice updated field labels in the Routing/Reference Information section. These changes apply to all parties where address information may be entered, including Beneficiary, Beneficiary Bank, Intermediary Bank, and By Order Of.
Currently, your addresses are captured in an unstructured format.
To comply with hybrid address standards, reformat your address details according to the updated labels.
Recommendations
- Enter the City/Town in its dedicated field.
- Enter State/Province, Zip/Postal Code in its dedicated field, where applicable.
- Append any details previously kept in Address Line 2 to the end of Address Line, which will allow up to 70 characters.
What to expect
When initiating US Drawdowns, you will see the similar label changes to those made on Wires and Books.
Currently, addresses are captured in an unstructured format.
To comply with hybrid address standards, reformat your address details according to the updated labels.
Recommendations
- Enter the City/Town in its dedicated field.
- Append State/Province and Zip/Postal Code information to the end of the Address field, where applicable. Address field will allow up to 70 characters.