Wire Transfers

ISO 20022 and Wire Transfers changes, effective July 14, 2025

For more information, click here.

Wire Transfers are a quick and secure method of moving money between financial institutions, generally for specific and significant transactions, such as purchasing a home, paying an invoice, or sending money to family or friends.

There are generally four parties involved with a Wire Transfer:

  • The Sender – the customer initiating the Wire Transfer from their bank account to the Beneficiary
  • The Sending Bank – the financial institution sending the money electronically on behalf of their customer
  • The Beneficiary Bank – the financial institution receiving the money electronically on behalf of their customer
  • The Beneficiary – the customer receiving the Wire Transfer to their bank account from the Sender

At F&M Bank we are both a ‘Sending Bank’ and a ‘Beneficiary Bank’.

We are proud to offer multiple options for our customers to initiate (send) an Outgoing Wire Transfer depending on the destination and the need:

  • Outgoing Domestic Wire Transfer (sent in U.S. Dollars to a financial institution inside the United States)
  • Outgoing International Wire Transfer (sent in U.S. Dollars to a financial institution outside the United States)
  • Outgoing FX/Foreign Currency Wire Transfer (sent in foreign currency to a financial institution outside the United States)

Customers wishing to send an Outgoing Wire Transfer will need to collect the following information from the beneficiary:

  • ABA/Routing Number or SWIFT Code
  • Account Number or IBAN
  • Bank Name
  • Bank Address
  • Beneficiary Name (as it appears on the account)
  • Beneficiary Address (physical address is required)

Domestic Wire Transfers generally are received by the Beneficiary Bank within one business day. International and FX Wire Transfers are generally received by the Beneficiary Bank within five business days. A fee does apply.1

Likewise, we offer this information, also known as Wire Transfer Instructions, for The Beneficiary (F&M customer) to receive an incoming Wire Transfer depending on the origin:

Incoming Domestic Wire Transfer

(sent from a financial institution inside the United States):

  • ABA/Routing #: 121108441
  • Bank Name: Farmers & Merchants Bank of Central California
  • Bank Address: 121 W Pine Street, Lodi CA 95240

Incoming International Wire Transfer

(sent from a financial institution outside the United States):

  • SWIFT/BIC: FMCLUS66
  • Bank Name: Farmers & Merchants Bank of Central California
  • Bank Address: 121 W Pine Street, Lodi CA 95240
  • ABA/Bank Code: 121108441

In addition to the bank information, for either type of Incoming Wire Transfer, The Sender will need the full name and address of The Beneficiary as it appears on the F&M account.

Incoming Wire Transfers will be processed and posted to the account upon receipt. A fee does apply.1

Questions on Incoming or Outgoing Wires? — Please contact your branch or a Call Center Representative at (800) 888-1498, M-F, 8am-6pm, PT and we will be glad to assist.

1Fees apply from F&M Bank for monetary wire transfers. Refer to our Customer Agreement & Schedule of Charges, Book II, for a complete list of fees and charges.

For terms and conditions, account information, and a list of other fees and charges, please refer to our Customer Agreement & Schedule of Charges, Book I & II.

This information is effective 4/1/2021 and subject to change anytime without notice.

Important Information on ISO 20022 and Wire Transfers

Effective July 14, 2025, the Federal Reserve is requiring all United States financial institutions to use the ISO 20022 format to send wire transfers.

At Farmers & Merchants Bank of Central California (F&M Bank), we are committed to providing you with the best possible service and the resources you need to help you be successful navigating the upcoming changes. Below, you will find important information about ISO 20022 and its impact on wire transfers.

What is ISO 20022?

  • ISO 20022 is a standardized messaging format for payment instructions designed for the financial services industry.
  • The Federal Reserve is requiring all US banks to implement ISO 20022 as the standard message format for sending wires.
  • ISO 20022 enables improved data sharing, faster processing, enhanced security, and more transparency across financial institutions.

How does the transition to ISO 20022 impact wire transfers?

  • When ISO 20022 goes into effect, the terms used to describe various wire fields will change. More details about the wire may also be required, such as more detailed beneficiary information.
  • Beginning on July 14, when you request a wire transfer we will provide you with an updated Wire Form to complete to ensure that all required information is provided so we can properly process the wire. Our team will be available to answer any questions you have about the form or required fields.
  • After July 14, the cutoff time for wires will remain unchanged at 1:00 pm for International and FX (Foreign Currency) wires and 2:00 pm for Domestic wires, on weekdays excluding bank holidays. Requests made after the cutoff time will be processed the following business day.
  • To avoid possible delays, we recommend that:
    • You familiarize yourself with the new terminology, referenced below.
    • If possible, avoid initiating any wires on July 14, 2025.

We will continue to add any pertinent information we receive to this page to ensure you have access to the most current information possible.

Additional Steps You Can Take to Prepare for ISO 20022

  • Be prepared to provide additional wire details. Going forward, wire transfers may require more specific information, such as detailed beneficiary data. If additional information is required, we will request it when you submit your wire transfer.
  • Coordinate with your payment partners. If you frequently send or receive payments from the same businesses or people, inform them about these changes to ensure they also comply with the new standards.

ISO 20022 Terminology

Today, multiple terms are used to designate the parties participating in a wire payment. The ISO 20022 standard will introduce new terminology that will be used universally. Some of the new terminology is outlined below:

Previous Terminology

Definition

New ISO 20022 Terminology

Originator / Sender

The individual or entity initiating the transfer. In other words, the individual or entity who is sending the money.

Debtor

Originating Bank / Sending Bank

The bank that holds the account from which the money is being sent. The originator’s bank.

Debtor Agent AND Instructing Agent

Beneficiary / Receiver / Payee

The person or business that is receiving the money from the wire transfer.

Creditor

Recipient Bank / Beneficiary Bank

The bank that holds the account to which the money is being sent. The beneficiary’s bank.

Creditor Agent / Instructed Agent

Additional Support

QUESTIONS? We’re here to help. For assistance, contact us at (800) 888-1498.

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