ISO 20022 Standards
What entrepreneurs and legal entities need to know about ISO 20022
From 11 November 2024, Kazakhstan will use ISO 20022 international standard for messaging between financial institutions. This standard will be regulated by the National Bank of the Republic of Kazakhstan and used by commercial banks.
What is ISO 20022
ISO 20022 is an international standard for exchange of data between banks and financial institutions. It defines the rules and message formats that are used in financial transactions.
For whom ISO 20022
ISO 20022 is useful to a wide range of financial market participants, including banks, corporations, payment service providers, regulators and other financial institutions.
What changes are expected in Onlinebank according to ISO 20022 standard
From 11 November 2024 we will update Onlinebank system by adding new fields to indicate actual payer and actual payee information. This update will apply to both manual filling in and uploading of payments from text files in MT format.
Now, when you create payments and transfers via Onlinebank, you may fill in additional fields about actual payer and actual payee.
These fields are not always mandatory (except for residency information), and can be filled in as an option if your case fits certain examples below.
Actual payer - specify a person or organization on behalf of which payment is made. For example, when paying taxes for a branch, bank details of branch should be specified in this field.
Actual payee is a person who receives money or in whose favor payment is made. For example, when transferring pension contributions, NJSC “State Corporation” ”Government for Citizens” will be beneficiary, and employees to whose accounts contributions are transferred will be actual payees.
Residency country code - if payee or payer is a non-resident of the Republic of Kazakhstan, it is necessary to specify the two-letter code of a country where they reside. You can choose the code from country directory.
We have placed examples of files for residents and non-residents on this page to help you to customize your systems for data uploading.
Important information
- New fields for file uploading are set up in a customer's accounting system with the help of IT specialists.
- Do not specify information on actual payer and payee if they coincide with sender and recipient.
- It is the responsibility of payment initiator to ensure that bank details are correct.
- For more detailed information please visit website of the National Payment Corporation according to ISO 20022 standard.
Questions and answers
ISO 20022 is an international standard for exchange of data between banks and financial institutions. It is used in over 70 countries around the world.
From 11 November 2024
Changes will be made to all external payments in tenge from Halyk to other second-tier banks, as well as organization of the State Revenue Committee, National Agency for Public Procurement “Government for Citizens” and Treasury Committee of the Ministry of Finance of the Republic of Kazakhstan.
Changes will not be made to payments in foreign currency.
New fields will appear in payments, which customers can fill in as an option:
1. Actual payer - who makes payment.
2. Actual payee - whom funds are credited to.
3. Residency country code (for non-resident payees) - to be filled in only for payees who are not residents of the Republic of Kazakhstan.
No.
If actual payer and payee coincide with sender and beneficiary (payee), it is not necessary to indicate them.
It is necessary to indicate residency country code in payments, if payee or sender is a non-resident of the Republic of Kazakhstan.
Actual payer is a person or organization whose bank details are specified in tax payments to fulfill payment obligations. For example, if a parent company pays taxes for its branch, bank details of branch are specified in “actual payer” field.
Actual payee is the one who receives money. For example, when paying pension contributions, NJSC “State Corporation” ”Government for Citizens” will be beneficiary (payee), and employees to whose accounts contributions are transferred will be actual payees.
If beneficiary (payee) of money and sender is not a citizen of the Republic of Kazakhstan, it is necessary to specify code of a country where he/she resides.
This code consists of two letters and selected from country directory.
To make changes to your accounting system (e.g., 1C, SAP, MS Dynamics, etc.), you need to contact IT specialists who support the system in order to make required settings.
Examples of files in MT-100 and MT-102 format are available on this page.
Yes.
If your accounting system can save/upload files in MX format, you will be able to upload these files to Onlinebank after 11 November 2024.
Yes.
You will need to make changes to your accounting system with the help of IT people who support it.