Your ISO 20022 migration guide
As we adopt the ISO 20022 standard, here’s everything you need to know about what’s changing across our digital banking channels.
ISO 20022 adoption timeline
Here’s some key dates when new ISO 20022 enhanced features will become available across our digital banking platforms:
March 2023:
- Swift implements ISO 20022 standards for cross-border payments and reporting (CBPR+).
- HSBC successfully enabled its global network to send and receive ISO 20022 CBPR+ messages on the Swift network.
July 2023:
- HSBC Thailand: ISO 20022 payment fields introduced for domestic payments.
October 2024:
- Thailand: ISO 20022 enhancements for international Priority Payments.
Early 2025 (Q1):
- HSBCnet beneficiary record screens updated to align with ISO 20022 standards.
March-May 2025:
- UK: ISO 20022 enhancements for CHAPS and international Priority Payments.
June-August 2025:
- Philippines: ISO 20022 enhancements for domestic PhilPaSS and international Priority Payments.
- France: ISO 20022 enhancements for international Priority Payments.
May 2025:
- UK: Purpose of Payment code required for FI-to-FI and property transactions.
- UK: Legal Entity Identifier (LEI) required for payments to/from financial organisations regulated by the Prudential Regulation Authority (PRA).
November 2025:
- Hybrid address format will be introduced; use of either Structured or Hybrid format encouraged in payment instructions.
- UK: unstructured address no longer supported for CHAPS payments.
November 2026:
- Unstructured address format will no longer be supported; all payments must use either Structured or Hybrid format.