BANK NEWS
🚨Beware of fraudulent messages/calls!🚨
We have received reports of fraudulent texts and spoofed phone calls pretending to be from American Heritage Bank.
PLEASE REMEMBER: We will NEVER ask for your online banking login credentials. If you receive a message or call requesting this information, DO NOT RESPOND. It is a scam.
Stay cautious! Never share your personal details.
If you experience this or have any questions, please contact us directly through our official channels.
Important Wire Transfer Changes
Important changes are on the horizon for Wire Transfers. Here’s some information to get your started on what they are, what they mean, and when they will happen.
What is ISO20022?
Federal Reserve Banks currently use a proprietary wire format that is specific to the Fedwire Funds Service. This current FAIM format (Fedwire Application Interface Manual) is being replaced in favor of the ISO20022 (ISO) format, which is a global standard used by many financial institutions.
What does this mean?
All wires sent through the Federal Reserve will need to be in compliance with the ISO20022 standards before the deadline. There are significant wire format and field label changes associated with this migration.
When is this happening?
The Federal Reserve cutover to ISO20022 from FAIM is July 14, 2025. All wires sent on or after this date must be in the new ISO format.
Here are some key terminology changes that will take place:
| FAIM Format (current) |
ISO20022 Format
(effective March 10, 2025)
|
|---|---|
| Beneficiary | Creditor |
| Originator | Debtor |
| Originating Bank/Sending Bank | Debtor AND Instructing Agent |
| Beneficiary Bank | Creditor Agent |
| Domestic Intermediary | Instructed Agent |
| International Intermediary Bank | Intermediary Agent |
| Routing Number | Agent ID |
| Reference Beneficiary | End to End ID |
| Address Line 1 | Building Number and Street Name |
| Address Line 2/3 | Department, Sub Department, Building Name, Floor, Room, Town Location Name, District Name, Post Box |
| City | Town Name |
| State | Country Sub Division |
| Zip Code | Post Code |
| Country | Country |
| Account Number | Account Number |
| Amount | Amount |
| Additional Information | Remittance Information |
| Purpose | Purpose |