Euro payments made from Switzerland and Liechtenstein

Financial institutions participating in the euroSIC system can rapidly, easily and inexpensively process all types of cross-border payments in euro at any time through the TARGET2 system of the EU.

Many euroSIC participants use this fast and inexpensive connection both for retail and large-value payments.

One account for all euro payments

Institutions transmit cross-border euro payments via euroSIC to all TARGET2 participants in real time. Non-urgent payments – from Liechtenstein for example – can also be executed through this interface to both the German and pan-European bulk payment systems. All from a single euroSIC account that enables cost-efficient payment transactions for institutions.

Real-time payments

Standard without surcharge: payments with guaranteed same value-day delivery to the beneficiary institution are executed irrevocably and unconditionally in real time. Customer payments are possible up until 4:15 pm CET and bank-to-bank payments until 5:15 pm CET. And this regardless of the transaction amount, of course.

Attractive prices

The attractive and transparent cross-border transaction prices are not dependent on quantity scales and bilateral agreements, but are calculated within three price categories at fixed rates.

Payments worldwide

From Andorra to Zambia: payments are processed via euroSIC far beyond the euro zone.

Non-urgent payments

The euroSIC system manager SECB offers two inexpensive payment paths to euroSIC participants for non-urgent payments up to an amount of EUR 50,000. Such payments to Germany can be handled through the intra-German bulk payment system at a low transaction cost. euroSIC participants from all EU/EEA countries (including Liechtenstein) receive access to the pan-European bulk payment systems at the same conditions and thus to all STEP participants.

Italian and Austrian euroSIC participants offer credit transfer routings to institutions as well as to payment systems of their respective countries without diversion through TARGET2 at competitive conditions.

TARGET2 membership

euroSIC participants can connect to the German RTGS payment system via SECB at no additional cost. They need only complete a short SECB registration form and the SWIFT online form and they can also begin profiting from incoming payments from the euro zone. This facilitates the routing of euro transactions into the euroSIC system for partner institutions in the EU. This option is already used by more than 80% of euroSIC participants.

Participation in STEP2

euroSIC participants from EU/EEA countries can register as indirect STEP2 participants through the Deutsche Bundesbank and the SECB. In this way, they can automatically receive payments from STEP2 through euroSIC and make the routing of euro transactions easier for their partner institutions in the EU.

Simple handling

The BIC is used for addressing the beneficiary institutions and the correspondent relations, or alternatively, the German bank code may be applicable. euroSIC participants conduct transactions through their existing euroSIC application and in the process use their familiar formats for customer payments (A11) and bank-to-bank payments (B11). SWIFT messages (MT103/MT202) can be transmitted smoothly through the euroSIC interface. 

Reduced SWIFT costs

Many institutions send an MT103 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.

Flexible price options

The SECB offer euroSIC users various price options for commercial payments, which are determined in an agreement. For example, euroSIC participants located in Switzerland can avoid the euroSIC transaction fees for outgoing cross-border payments.