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PRESTIA Mobile
About the New Format
- The new format adopts ISO20022, an international standard for data formats related to financial services. The migration is expected to comply with tightened international money laundering regulations etc.
- After the migration, customers will be required to provide more information for the remittance in accordance with the new format, for example, by entering the structured address of the beneficiary such as country, country subdivision and town name, etc.
Impact on Inward Remittance
- Inward remittances arriving in the new format have been processed and deposited to customer accounts as before since March 2023.
- Due to the expected increase in the amount of information required by the new format, it may not be possible to display all the information in the "Arrival Notice."
Inward remittance message after the migration to ISO20022
Copy of Your Payment Order after migration to ISO20022
As a result of the migration to the new format, the Copy of Your Payment Order to be provided at the customer's request will change depending on the type of message.
< New format >
The contents of the message will appear on the second page and beyond.
< Former format >
Impact on Outward Remittance
- When requesting remittance, a customer will have to input the information for remittance in the application form corresponding to the new format.
- Our bank plans to revise its application forms and other documents for foreign remittance services in accordance with the new format around March 2025. Outward Remittances will be switched to the new format around October, 2025. Details will be announced on our bank website.