The migration was never a cliff. It is a schedule. MT–MX coexistence ended in November 2025. In August 2026 Swift deferred the structured-address and MT101 changes planned for November 2026 and will set new dates by December 2026 (Swift), but the other mandates keep landing through 2028: investigations, statements, direct debits, purpose codes, payee verification. This page is the living schedule, updated with each Swift Standards Release and re-verified against primary sources (last review 23 September 2026).
01. Done: the rails are ISO-native#
| Date | Milestone |
|---|---|
| Aug 2022 | Singapore MEPS+ migrates (like-for-like) |
| Mar 2023 | Eurosystem T2 goes live ISO-native; SWIFT CBPR+ coexistence begins |
| Jun 2023 | Bank of England CHAPS migrates |
| Mar 2024 | EBA CLEARING RT1 upgrades to the 2019 ISO version |
| Apr 2024 | Hong Kong CHATS and US CHIPS migrate |
| 9 Jan 2025 | EU Instant Payments Regulation: euro-area PSPs must receive instant payments |
| 14 Jul 2025 | US Fedwire cuts over to ISO 20022 in a single day |
| 9 Oct 2025 | IPR: euro-area PSPs must send instant payments and offer Verification of Payee on all SEPA credit transfers |
| Nov 2025 | Japan BOJ-NET (on ISO 20022 since 2015) moves to the 2019 message versions |
| 22 Nov 2025 | Swift MT–MX coexistence ends for cross-border payment instructions (MT103, MT202); statements continue in parallel until 2028 |
| 27 Aug 2026 | Swift defers all Standards Release 2026 payments changes; more than 98% of payment instructions are ISO 20022 |
02. Deferred: the data-quality deadline#
Two changes were due with Swift Standards Release 2026 in November 2026. On 27 August 2026 Swift deferred both, with every other payments change in the release, and it will publish new timing by December 2026 at the latest (Swift):
- Fully unstructured postal addresses will be rejected in CBPR+ payments at network level. Structured addresses, or hybrid ones (structured town and country plus up to two 70-character address lines), become the floor. The fix lives in your customer master data, not your bank connection.
- The interbank MT101 relay retires, replaced by
pain.001version 9. Until Swift sets the new date, MT101 continues to work between banks.
Pain001 ships both requirements today: structured and hybrid address elements in generated XML, and one-command MT101 conversion. Full sourcing in the 2026 briefing.
03. 2027: enrichment becomes mandatory#
| Date | Milestone | Who it binds |
|---|---|---|
| 12 Jun 2027 | Deferred Swift Standards Release 2026 (non-payments): all MT messages except Category 1, securities and funds, tracker, and exceptions and investigations messages; banks must be able to receive camt.110 | Swift users |
| 9 Jul 2027 | Verification of Payee and instant-payment obligations extend to non-euro-area EU PSPs (Regulation (EU) 2024/886) | PSPs in non-euro member states |
| Nov 2027 | Bank of England: purpose codes mandatory on ALL CHAPS payments (in channels within direct participants' control) | CHAPS participants and their corporates |
| Nov 2027 | Fedwire Funds Service release, moved from November 2026 (Federal Reserve) | Fedwire participants |
| Nov 2027 | CBPR+ exceptions & investigations migrate: MT195/295/199/299/999 retire in favour of camt.110/111 case management; banks must be able to receive camt.052/053/054 | Financial institutions |
| End 2027 | CPMI target for harmonised ISO 20022 data requirements in cross-border payments | Market infrastructures globally |
What it means for initiation: purpose codes and richer party data stop being optional enrichment and start being gate conditions. Files generated with complete structured data today pass unchanged when those dates arrive.
04. 2028: the long tail closes#
| Date | Milestone |
|---|---|
| Nov 2028 | MT9xx statements retire, and camt.05x becomes the only statement format |
| Nov 2028 | MT104/107 direct debits and MT204 retire in favour of pain.008/pacs.003/pacs.010 |
| Nov 2028 | Charges messages move to camt.105/106 |
What it means: reconciliation pipelines still parsing MT940/MT942 have a hard end date. Pain001's camt.053 parser covers the receive side today.
05. No date, steady pressure#
- pain.001 v10–v12 adoption: market infrastructures standardised on v9; later versions arrive channel by channel. Pain001 generates all ten versions and migrates records between them, so a version switch is a parameter, not a project.
- LEIs in payments: 3 million+ active LEIs; already mandatory in scoped CHAPS payments, recommended in CBPR+ party identification.
- Agentic payments: Mastercard, Visa, Google (AP2), and the Linux Foundation's x402 are building agent-authorisation rails; the payment-file layer they ultimately need is the one pain001-mcp already serves.
How to use this page#
Subscribe to the RSS feed for updates, check the "last reviewed" date above before relying on any deadline, and treat 2027–2028 items as scheduled but revisable. SWIFT has moved dates before, and each annual Standards Release can adjust the tail. Every date here traces to a primary source (SWIFT, Bank of England, European Commission, Federal Reserve, ECB, CPMI) cited in the 2026 briefing's reference list.