Swift has extended the deadline for structured address migration in ISO 20022 payment messages following requests from the industry.
According to the official press release, the extension applies to Standards Release 2026, the annual update to formats and rules covering payments, securities, trade, and other transaction types on the Swift network.
The Swift community decided in 2023 to move from unstructured to structured postal addresses for ISO 20022 payment messages, with the change originally set to take effect in November 2026. As that deadline approached, Swift said progress across the industry remained uneven, with institutions in all regions unable to meet the requirement. Several communities asked Swift and their domestic payment market infrastructures, which have similar deadlines, for additional time. Following consultation with those market infrastructures, Swift agreed to extend the timeline.
Payments changes deferred
Swift will defer all payment-related changes under Standards Release 2026. For the structured address requirement specifically, the organisation said it will consult over the coming weeks with banks, central banks, payment market infrastructures, market practice groups, and corporates to determine the timing and approach. An update is expected by December 2026 at the latest, as part of Swift's governance cycle. Other payment changes originally scheduled for November 2026 will be phased separately, with details to be published on the institutions’ official website.
Securities and trade changes to proceed separately
Other elements of Standards Release 2026 are being decoupled from the payments timeline so they can move forward on a separate schedule. These include changes supporting the shift to T+1 settlement in certain markets. Swift said these changes are set to go live in the first quarter of 2027, allowing additional time for the required technical work. An exact implementation date is expected to be confirmed by mid-September 2026, following consultation with relevant stakeholders.
Swift said financial institutions that have already upgraded their systems to support structured addresses can use the format across the network. The organisation said domestic adoption of structured addresses by payment market infrastructures and financial institutions remains a factor in supporting progress on cross-border payments, and it encouraged continued implementation ahead of the revised timeline.
The extension follows the completion of the shift from the MT standard, with more than 98% of payment instructions now sent in ISO 20022 format. Swift has positioned ISO 20022 as the basis for future cross-border payments infrastructure, citing benefits for automation, compliance screening, and transparency of payment data.
