There is a significant, industry-wide update that may temporarily impact wire transfer processing times the week of July 14, 2025, for all banks across the U.S.
The Federal Reserve will implement a major change to the Fedwire Funds Service, which will go live on Monday, July 14. This is the largest and most complex upgrade in the system’s 49-year history, and it will affect all banks nationwide. As a result, there may be some delays in wire processing during this transition period.
While this update may cause short-term inconvenience, the long-term benefits will be significant, including better payment transparency, reduced processing errors, and more modern systems.
We appreciate your understanding and patience during this transition. If you have any questions or need support, reach out to our team at 480-358-1000.
For details on this upgrade, see this article from the Federal Reserve.