Important updates that require action

Mandatory structured recipient address format

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You are required to adopt mandatory structured recipient addresses in ISO 20022 format. See below for the deadlines.

This is part of the global ISO 20022 migration adopted by global regulators and payment industry bodies, including the G20, ECB, and SWIFT. It means that recipient addresses must contain recipient address details in separate fields, such as country and streetname.

Structured addresses improves compliance screening, reduces payment delays and failures, and increases automation across international payment flows.

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If you have any questions or need further clarification, contact Support.

What does this affect?

• USD payments in and to the US.
• All payments routed via SWIFT.

When is the deadline?

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From these dates, Vitesse will not process the following payments and currencies that are submitted without a structured address:

What you need to do

Review your internal systems and workflows, including batch files and API Transaction payloads, to ensure they contain ISO 20022-compatible recipient address formats for the payments and currencies mentioned in the table above.

Early adoption will help you transition smoothly and maintain payment processing efficiency. Full formatting guidance is available here:

• If you’re using batch files, see here.
• If you’re instructing payments through the API, see here.

New cut-off time for domestic USD bank transfers

The daily cut-off time for USD to US bank transfer payments initiated from Vitesse PSP Ltd (UK Hub) will be 21:30 Eastern Time (01:30 UTC) with next-business-day (T+1) delivery. A full list of cut-off times by route is available here.

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There is no impact on pricing or any commercial terms.