Euro payments made to Switzerland and to Liechtenstein

Financial institutions participating in TARGET2 or STEP2 can rapidly, easily and inexpensively process all types of cross-border payments in euro to Switzerland and Liechtenstein at any time through euroSIC.

Many financial institutions use this fast and inexpensive connection both for retail and large-value payments.

Easy and inexpensive

With euroSIC, institutions outside Switzerland and Liechtenstein can send payments directly through the European TARGET2 system at over 3,200 bank locations in Switzerland and Liechtenstein. euroSIC participant banks in Liechtenstein can be reached at any time through STEP2, the pan-European bulk payment system. Since correspondent relationships are eliminated, cross-border euro payments can be operated cost-effectively.

Real-time payments

Standard and without surcharge: payments with guaranteed same value-day delivery to the beneficiary bank are executed irrevocably and unconditionally in real time. Customer payments are possible up until 5:00 pm CET and bank-to-bank payments until 6:00 pm CET. And this regardless of the transaction amount, of course.

Payments worldwide

From Andorra to Zambia – euroSIC is used even far beyond the euro zone. Institutions from nearly all countries in the world use this fast and easy option for payments to Switzerland and Liechtenstein.

Simple handling

The BIC code is used for addressing the beneficiary euroSIC participant. It is recommended that SECB, the euroSIC system manager (BIC code SECGDEFF), be given as the intermediary institution.

Reduced SWIFT costs

Many institutions send an MT103 message directly to the beneficiary institution as well as a cover payment through their correspondent relation. This creates the need for two SWIFT messages per payment. All cover payments are eliminated with euroSIC, which can reduce communication costs for the debtor bank.

Reachable institutions

The "Inquiry IID" online service makes it easy to search for institutions that are euroSIC participants and thus reachable.

The data forming the basis of this search engine can also be downloaded in entirety in the form of a Bank Master file and filtered according to individual preferences. The Electronic Index file with an offline query function and a convenient search mask provides a further download option. All master data is updated daily.

Example of an MT103 customer payment from Italy to Switzerland

Field Description* Content
20 Sender's Reference k85cmt
23B Bank Operation Code CRED
32A Value Date/Currency/Interbank Settled Amount 060509EUR50000,
50K Ordering Customer /k85cmt
Carrozzeria Giovanni
56A Intermediary Institution SECGDEFF
57A Account With Institution BACOCHFR
59 Beneficiary Customer /CH4309881000123455789
Horologerie du Joux,
Les Brenets
A Details of Charges SHA
Example of an MT103 customer payment from Italy to Switzerland