ISO 20022: Survival Guide

17 | Treasury and Trade Solutions August 1st, 2021: Ms. Jane Doe (Debtor) at Citi NY wants to send a payment of $10,000 to John Smith at XYZ London (Creditor). A message is sent from Citi NY to XYZ Bank, UK and instructs the branch to credit the account of Mr. John Smith, UK in their books, account number 4895623. This will involve using a pacs.008 message . The Financial Institution To Financial Institution Customer Credit Transfer message is sent by the debtor agent to the creditor agent, directly or through other agents and/or a payment clearing and settlement system. It is used to move funds from a debtor account to a creditor. How to Write an ISO message: Step by Step Watch our ISO 20022 video here to further break down the pacs messages Material Structure Group Header Call Transfer Transaction Information pacs.008 Contains a set of characteristics that relate to all individual transactions Contains elements providing information specific to the individual credit transfer transaction.