The migration was never a cliff — it is a schedule. MT–MX coexistence ended in November 2025 and the next enforcement date is 14 November 2026, but the 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 26 July 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, 4,700+ participants |
| 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 completes migration |
| 22 Nov 2025 | SWIFT MT–MX coexistence ends — MT 1xx/2xx/9xx retired for cross-border payment instructions; ~97% of instructions now ISO 20022 |
02. 14 November 2026 — the data-quality deadline#
Two enforcement events land on the same day:
- Fully unstructured postal addresses are rejected in CBPR+ payments at network level. Structured — or hybrid (structured town and country plus up to two 70-character address lines) — becomes the floor. The fix lives in your customer master data, not your bank connection.
- The interbank MT101 relay retires, replaced by
pain.001version 9. Multi-transaction MT101s are rejected outright; single-transaction messages get temporary contingency conversion.
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 |
|---|---|---|
| 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 | 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 in 2026 pass unchanged in 2027.
04. 2028 — the long tail closes#
| Date | Milestone |
|---|---|
| Nov 2028 | MT9xx statements retire — 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.