ING approach on CBPR+ for FI clients
Swift has decided to adopt ISO20022 by November 2025 for Cross-Border Payments and Reporting services offered by correspondent banks. ISO20022 standard is the way forward towards a rich and structured language for payment data. Expected benefits are:
- more straight through processing resulting in fewer Repairs & Investigations
- less false positives in Transaction Screening
- better structured data for Customer Activity Monitoring
- more and better structured data for clients in their account statements
Until November 2025 banks can send MT messages to other banks. A transition/ coexistence period of 3 years will allow banks to migrate to the required MX format. As of November 2025, MT format is no longer accepted. MX format will be the new standard between banks. The migration will cover MT1xxx, MT2xxx and MT9xxx series and will impact correspondent banks as well as other users of these messages.
What will change in ING’s cross border payment services
In general: for outgoing payments you can still send us MT103/ 202 or the new PACS.008/ .009 format (as of March 2023). ING will ensure the correct routing and required format. For incoming payments in your favor, ING will send either MT or MX format to your bank. After November 2025 Swift will no longer support MT format.
The process for adopting the CBPR+ standards is complex and will differ on a country level, also considering market infrastructure changes. In the table below you will find CBPR+ migration details for each ING location offering cross border payment services.
ING capabilities for receiving MX messages
As of 20 March 2023 ING will be able to receive all MX equivalents of current processed MT payment messages. The strategy of ING is to update all core payment platforms to be “native” ISO 20022 compatible. For those ING locations who are currently in the process of upgrading their payment infrastructure to the core platform of ING, a translator will be used as a short-term interim solution.
Locations offering intermediary bank services and who temporarily make use of an inhouse translator are limited to: Czech, Slovakia, Hungary, Romania, Poland and Russia.
In case ING uses a translator to process incoming MX messages, ING will remain using the original MX message when applying KYC and anti-money laundering processes to guarantee the same quality of processing as today. When acting as an intermediary bank, banks receiving MT notifications are advised to incorporate the Swift original MX message in their processes. In cases where a translator is used, the risk of data truncation occurs, affecting information provided to clients.
ING capabilities for sending MX messages
In the timetable below, you will find the estimated planning for ING locations, offering correspondent banking services, to start sending MX messages.
Location (1) | Pacs.008 | Pacs.009 (cov) | Pacs.004 (as return to MX payment) | Pacs.002 (neg) | Camt.052 Camt.053 Camt.054 | Camt.057 | Camt.056 Camt.029 | Pain.001 (relay) |
NL | 03/23 | 03/23 | 03/23 | 03/23 | 11/23 | 11/23 | 11/22 | 11/23 |
BE | 03/23 | 03/23 | 03/23 | 03/23 | 11/23 | 11/23 | 11/22 | 11/23 |
1: for other ING locations offering intermediary bank services (CZ, SK, HU, RO, BG, PL, RU), dates will be added in a later stage.
Like-for-like approach
ING will migrate current MT messages to MX based on a like-for-like approach. Client frontend processes will not be changed in this phase. As much as possible ING will send structured ordering and beneficiary customer data in payments. New features offered by the ISO20022 messages will not be used by ING on the short term.
Sending and receiving camt.052/camt.053/camt.054
ING group entities will not accept receiving camt.052, camt.053 and camt.054 reporting messages, as defined in SWIFT CBPR+, from their correspondent banks or counterparties until further notice. These messages will be blocked on the swift RMA portal and you will not be able to submit them to any ING entities. We anticipate to gradually unblock these messages after the release of November 2023. Please continue to send the corresponding SWIFT MT messages until further notice.
Sending and receiving pain.001/pain.002
ING group entities will not accept receiving pain.001 and pain.002 messages, as defined in SWIFT CBPR+, from their counterparties until further notice. These messages will be blocked on the swift RMA portal and you will not be able to submit them to any ING entities. We anticipate to gradually unblock these messages starting end of 2023. Please continue to send the corresponding SWIFT MT messages until further notice.