Wire Basics in ISO 20022

Some terms to know for sending wires in the ISO 20022 format are defined in this section.

ISO Name	Description	Previously In FAIM
Debtor	The party sending the wire	Originator
Creditor	The party receiving the wire	Beneficiary

When you want to send a wire, you go to a wire vendor or agent that sends wires. Usually this is a financial Institution.

ISO Name	Description	Previously In FAIM
Debtor Agent	The Institution where the Debtor’s account resides and the source of funds or where the funds will be taken from	Originator FI
Creditor Agent	The Institution where the Creditor’s account resides and where the Funds will be delivered to	Beneficiary FI

The following terms are for vendors/institutions involved in sending the wire.

ISO Name	Description	Previously In FAIM
Instructing Agent	The Institution that is submitting the wire on behalf of the Debtor Agent	Sender DI
Previous Instructing Agent	The institution that is creating the wire on behalf of the Debtor Agent and passing it to the Instructing Agent. You can have up to 3 Previous Instructing Agents	Instructing FI

The following terms are for vendors/institutions involved in receiving the wire.

ISO Name	Description	Previously In FAIM
Instructed Agent	The institution is receiving the wire on behalf of the Creditor Agent	Receiver DI
Intermediary Agent	The Institution that is receiving the wire from the Instructed Agent and passing it to the Creditor Agent. You can have up to 3 Intermediary Agents	Intermediary Agent

The following terms are used when the Debtor and Creditor sends or receives a wire on behalf of someone else.

ISO Name	Description	Previously In FAIM
Ultimate Debtor	The party that requested the Debtor to originate the wire	"On Behalf Of"
Ultimate Creditor	The party that the Creditor is receiving the wire for	"For Further Credit To"

The following terms are used in text data sent in the wire to the Instructed Agent or the Creditor (Previously FI to FI or Originator to Beneficiary information).

ISO Name	Description	Previously In FAIM
Unstructured Remittance Information *	This is where Information to the Creditor or other text instructions to the Instructed or Creditor Agent	Originator to Beneficiary/ FI to FI Information
Structured Remittance Information **	This is where structured Information is entered like Tax Payments etc.	Originator to Beneficiary/ FI to FI Information
Instructions for Creditor Agent	Where information meant for the Creditor Agent is entered - allows for type and additional text entry	Closest we have to FI to FI Information

* Note: This is unavailable if the Structured Remittance Information field is used.

** Note: This is unavailable if the Unstructured Remittance Information field is used.