Understanding upcoming requirements and formats for payment files

With the adoption of the ISO 20022 standard, the industry is looking to streamline information to help reduce friction in the end-to-end payment journey. As a result, Swift and various domestic clearing schemes are introducing new data requirements for payment files.

What this means for you

We’ll start supporting payment files with structured address data in HSBCnet File Upload and HSBC Connect customers in phases. We expect to complete the rollout to all HSBCnet profiles with Philippines and Singapore accounts by the end of June 2025.

Upcoming ISO 20022 address requirements

Under ISO 20022 standards, a new hybrid address format will be introduced from November 2025.

For any addresses you’re currently including in your payment files, you will need to apply the structured or hybrid address format by November 2026.

To help you plan your payment file updates, here are the current timelines:

Now	November 2025	November 2026
Use of structured address is encouraged	Use of hybrid/structured address is encouraged	Use of hybrid/structured address is mandatory
HSBC supports both structured and unstructured address format.*	HSBC plans to support hybrid address format in addition to structured / unstructured.	HSBC will process instructions that include addresses in structured or hybrid format only.
* The following address fields currently support structured address format only, use of free format address lines are not allowed: Ultimate Debtor, Ultimate Creditor, and Initiating Party.

To make sure your payment files aren’t rejected, make sure you plan to include the mandatory information in line with this timeline.

Here are examples of the different Swift ISO address formats:

Structured	Hybrid	Unstructured
Supported now and in the future	Supported from November 2025	Unsupported from November 2026
Name JOHN SMITH Postal Address Street Name HOOGSTRAAT Building Number 6 Floor 18 Postal Code 1000 Town Name BRUSSELS (required) Country BELGIUM (required)	Name JOHN SMITH Postal Address Postal Code 1000 Town Name BRUSSELS (required) Country BELGIUM (required) Address Line 1 HOOGSTRAAT 6, 18th floor	Name JOHN SMITH Postal Address Address Line 1 HOOGSTRAAT 6, 18th floor Address Line 2 BRUSSELS 1000 BELGIUM
or in ISO technical terms: <Nm>JOHN SMITH</Nm> <PstlAdr> <StrtNm>HOOGSTRAAT </StrtNm> <BldgNb>6</BldgNb> <Flr>18</Flr> <PstCd>1000</PstCd> <TwnNm>BRUSSELS </TwnNm> <Ctry>BE</Ctry> </PstlAdr>	or in ISO technical terms: <Nm>JOHN SMITH</Nm> <PstlAdr> <PstCd>1000</PstCd> <TwnNm>BRUSSELS </TwnNm> <Ctry>BE</Ctry> <AdrLine>HOOGSTRAAT 6, 18th floor</AdrLine> </PstlAdr>	or in ISO technical terms: <Nm>JOHN SMITH</Nm> <PstlAdr> <AdrLine> HOOGSTRAAT 6, 18th floor</AdrLine> <AdrLine>BRUSSELS 1000, BELGIUM </AdrLine> </PstlAdr>

What you need to do

To prepare for the upcoming changes, we recommend that payment files comply with the requirements for payments as outlined above. Please review the updated File Format Specifications (formerly known as Message Implementation Guides) for iFile, XML V2 and XML V3. The ISO 20022 File Format Specifications are available in the HSBCnet User Guides portal.

We encourage you to start looking at the data that you provide to us and, if applicable, work closely with your Enterprise Resource Planning (ERP) and/or Treasury Management System (TMS) providers to start making updates as soon as possible.

Find out more

To learn more about how HSBC is aligning with the ISO 20022 standard, please visit the ISO 20022 migration guide.

For additional questions, contact your local HSBC representative.