SIC System

SIC System

SIC Is Fully Aligned with the Swiss National Bank

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Real-Time, Efficient and Secure

Since 1987, SIX has been processing payments between banks via Swiss Interbank Clearing (SIC) in a highly efficient and real-time manner – around the clock. Since 2024, bank customers have also been able to benefit from an immediate credit or debit to their account with an instant payment. Monitored and steered by the Swiss National Bank (SNB), SIC is the most important payment system in Switzerland, facilitating transactions between banks worldwide. Efficient, secure and quick for both large-value and retail payments, financial institutions process the majority of their Swiss franc interbank liabilities globally through SIC.

How to Participate

Take advantage of the many benefits of the SIC payment system. Learn more about how financial institutions can connect to SIC.

Infocenter SIC

How You Will Benefit

Gross Payments in Real-Time

SIC processes payments and offers liquidity management in real-time

Always Covered

The SIC payment system only executes transactions if the settlement account is covered with sufficient funds

Security Guaranteed

The interbank security system ensures that messages are transmitted reliably and confidentially

SIC Processes Payments in Real-Time and Offers Liquidity Management

SIC continually processes payments in real-time, allowing participants to submit and receive transactions 24 hours a day. The system verifies the incoming payment orders using electronic signatures and master data checks to monitor whether the system participant is authenticated and authorized to enter data. Where sufficient funds are available, SIC settles the payment irrevocably and finally and debits or credits the participant's settlement account with the corresponding amount. System participants can constantly monitor incoming and outgoing payments in real-time and, by doing so, at any time obtain information about the current status of their settlement account.

RTGS: The Standard for Interbank Payments

The first real-time gross settlement (RTGS) system revolutionized interbank payments around the world in the 1980s and continues to set standards today. Whether securities transactions, salary payments, bank transfers or card payments: Every transaction in Swiss francs runs through the SIC system, which is monitored by the Swiss National Bank. Learn more about the infrastructure solutions for the Swiss financial center and the interbank payment traffic services offered by SIX.

Instant Payment – 24x7x365 from Account to Account

With an instant payment, the paying party can transfer money from their account to another bank customer account in Switzerland within 10 seconds. Whether the transfer is initiated during the day, at night, on weekends or holidays, Swiss banks always execute the payment order immediately. The account is debited instantly and almost simultaneously with the final credit to the beneficiary's account. Learn more about instant payments here.

Interfaces and Security

Banks connect to the SIC and euroSIC payment systems via Messaging Gateway, SWIFT or the web portal. SASS and Secure Swiss Finance Network (SSFN) ensure the highest possible level of security for both hardware and software.

Further information

About the Service

SIX has been operating the SIC payment system since 1987. As such, it is one of the world’s leading real-time gross settlement (RTGS) systems. SIC offers system participants around-the-clock interbank payment services with real-time transaction settlement and liquidity management. Various pricing options are available. 

Essential for Monetary Policy and the Swiss Financial Center

The SIC system plays a key role in implementing the Swiss National Bank’s monetary policy. As a result, SIC is crucial to the Swiss financial center and full electronic integration of trading, clearing and settlement of shares, bonds, derivatives, structured products and repo transactions in Switzerland (Swiss Value Chain).

100% Covered Transactions Only

For each transaction, SIC verifies the relevant account to determine if the funds are sufficient to settle the payment. This way, transactions are only executed if the necessary funds are available. Otherwise the payment is routed to a wait file and kept pending until sufficient funds have become available through incoming payments or a liquidity supply.

Technical Security

An interbank security system enables to execute millions of transactions worth billions of Swiss francs absolutely confidentially and securely. It ensures especially the following:

  • Messages must be transmitted unadulterated
  • The message sender must be evident
  • Sending and receiving of messages cannot be disputed
  • Messages must be protected from unauthorized eavesdropping during transmission

Downloads and Services

Turnover per Month

Turnover in the last 12 months (in bn CHF)

Transactions per Month

Number of transactions in the last 12 months (in million)

In detail

Turnover per Year

Turnover since 2000 (in bn CHF)

Transactions per Year

Number of transactions since 2000 (in million)

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