Transition to ISO 20022 Standard

     From January 13, 2025, Nurbank JSC, along with other banks of the Republic of Kazakhstan, switched to using the international financial messaging standard ISO 20022 (hereinafter referred to as the standard).

       This standard is created to automate business processes and is being actively implemented by financial institutions worldwide, providing a unified format and structure for transmitting financial data. 

   The transition to ISO 20022 enhances the accuracy, speed, and security of settlements, as well as simplifies transactions with international counterparts. 

       Please be advised that from January 13, 2025, payment documents will only be accepted in the new MX format.

The changes will affect all external payments in tenge.

The changes will not affect payments in foreign currency.

        When processing payments, it is necessary to follow the new requirements. Please note the following:

• the new payment messaging standard includes new fields for «Actual Payer», «Actual Payee», and «Country of Residency Code».
• The Actual Payer is the person or organization on whose behalf the payment is made.
• The Actual Payee is the person who receives the funds or for whose benefit the payment is made.
• Fields regarding the actual payer or payee do not need to be filled if they coincide with the sender and recipient.
• The «Country of Residency Code» field is only filled out if the recipient or sender of the payment is a non-resident.

    When specifying the country of residency, use the international two-letter country code in accordance with the national classifier of the Republic of Kazakhstan NC RK ISO 3166-1-2016 «Codes for the Representation of Names of Countries and Their Subdivisions. Part 1: Country Code».

•      When a legal entity makes payments to the budget for its separate subdivisions, the payment notice in the «Money Sender» section should include the name, BIN, address, and phone number of the legal entity on whose obligations the payment is made, its BIN.
•    The recipient's bank credits the money to the recipient based on the details indicated by the sender in the consolidated payment order. If the actual payer and payee coincide with the sender and recipient, they do not need to be indicated.

 

Thank you for your cooperation.