treasury management
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At Trustar, we provide the tools for your business to succeed financially through customized banking solutions, complimented by our topnotch service. Let us help you take your business’s financial goals to the next level. Trustar Bank’s Treasury Management tools help you manage your business securely and efficiently. We’ll work with you to understand your individual needs, offering custom solutions to make business banking easier than ever.
Wire Transfer Migration to ISO 20022 - Effective July 14, 2025
Effective July 14, 2025, wire transfers at all financial institutions will be transitioning to a new global standard known as ISO 20022. This change affects how banks send and receive wire payment information and is designated to enhance security, improve the quality of transaction data, and ensure smoother global wire transfers. Additionally, key terminology changes on the wire transfer request forms and templates will also take place.
Here is what Trustar Bank clients need to know:
Does this affect all types of payments?
No. This change only affects wire transfers. ACH Payments (such as payroll, vendor payments, or recurring debits) are not impacted. If your business or organization does NOT send or receive wires, you do not need to take any action.
How can I prepare my business or organization?
If you send or receive wire transfers, we recommend taking the following steps to ensure your wire transfers process smoothly without interruption:
· Review the key new terminology changes below.
· The names of SOME fields on the wire transfer request screens MAY CHANGE. For example, beneficiary is now creditor.
· Wire instructions and confirmation notices will also include the new terminology.
· If you have saved templates to a creditor/beneficiary, upon selecting it for use, you will be prompted to review the address fields.
· See table below for a full list of new terminology.
Tips for Creating a New Wire or Template:
· Identify the new data field names, such as: Beneficiary to Creditor, Originator to Debtor, Beneficiary Bank to Creditor Bank, and Routing Number to Agent ID.
· A new field called “End to End ID” has been added. It is optional, not required. Uses include a specific detail, such as an invoice number.
· Please remember to save your changes.
New ISO 20022 Terminology Examples
You will start to see new wording in wire instructions and confirmations. Here is a quick reference of frequently used terms that will be changing:
| FAIM Format (current) | ISO20022 Format (effective July 14, 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 Subdivision |
| Zip Code | Post Code |
| Country | Country |
| Account Number | Account Number |
| Amount | Amount |
| Additional Information | Remittance Information |
| Purpose | Purpose |
Additional Resources
Take Your Bank With You
Commercial Online Banking
Enjoy a flexible, intuitive approach to banking for your business. With view-only access to layered authentication, our commercial online banking platform is customized to fit your unique needs. Safe and secure access allows you the ability to bank any time and from anywhere.
Mobile Banking
Bank with us from anywhere! Utilize the features you need, conveniently in the palm of your hand.
· Bank access wherever you go
· Mobile deposit capabilities
· Initiate existing bill pay
Deposit Funds Electronically
Remote Deposit Capture
Enjoy the ability to make check deposits from the comfort of your office, day or night.
· High-volume check deposits
· Accelerated clearings
· Enhanced cash-flow
· Eliminate the added expense of waiting in line at the bank
Send Money Easily
Online Bill Pay
Utilize a convenient and secure means to streamline your business.
· Simplify money management
· Save the business owner time while keeping them organized
· An ecological option to paper bill pay
ACH
Reduce human error and increase time savings with ACH capabilities- the customer preferred payment method.
· Help lower costs with the elimination of interchange fees
· Create templates for one-time or recurring transactions
· Prefunded and same day processing available (Same day processing by prior approval)
Online Wire Transfers
Send money easily while staying in-the-know on where your money is going.
· Effective July 14, 2025, wire transfers at all financial institutions will be transitioning to a new global standard known as ISO 20022. Please visit “Wire Transfer Migration to ISO 20022” above
· Send money domestically
· Create templates for one-time or recurring transactions
· Stay up to date with automated text and email alerts for incoming and outgoing transactions
· Expanded descriptions for expedited reconcilement
Protect Your Business
Positive Pay
Two options to help protect your business against fraud.
· Automate check and ACH reconcilement
· Simplify accounts payable processing and payroll reconcilement
· Improve audit controls
· Reduce check and ACH fraud
Standard Positive Pay
· Validate check numbers and amounts of each check presented
Enhanced Positive Pay
· Compare the payee name, in addition to the check number and amount, of each check presented
ACH Filter
Easily allow only approved ACH transactions to post.
· Use ACH debit filters to reduce fraud risk
· Business owner/decision maker reviews presented ACH transactions
· Leverage our enhanced ACH statement detail for more knowledgeable, real-time decisions
Partners For Success
Merchant Processing
Allow us to find you the most competitive price for your business, saving you time and money.
IntraFi Network
Ensure your large deposits are insured by the FDIC with our both our ICS and CDARs services.
· Work with one financial institution while receiving the FDIC insurance coverage of many
· Initiate transactions online via your Trustar Bank account with a completely integrated platform and receive one convenient monthly statement
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For more information about our business products and current rates, please contact us at (703) 547-4700.
Learn more about Trustar Bank’s Treasury Management services in our e-brochure!