Changes to payment transactions in Switzerland

In the coming years, the Swiss interbank payment system will change to meet international regulations and the new ISO 20022 standard. These changes will affect all Swiss banks.

We’ll be here to help and advise you throughout the transition phase.

Migration du trafic des paiements en Suisse

You may well have heard that there’ll be changes to payment transactions in the coming years, but are you aware how this will affect your business and your personal transactions?

Most people won’t have to do anything. When the time comes, we – along with your IT services provider – will guide you through the process.

However, if you use customized payment software, you will have to make some updates to get ready for the changeover.

Highlights

The current Swiss payment system comprises many different standards, procedures and formats. For example, there are seven different varieties of the Swiss payment slip alone. The aim of the changeover is to create a uniform payment system for all payment types and parties involved, so making transactions will be easier and more straightforward.

The changeover will affect account transfers, payment slips, account debits and payment confirmations:

  • Payment messages will be standardized and will contain more information
  • The LSV direct debit system will be improved and combined with an e-billing system.
  • The red (BV) and orange (BVR) payment slips will be replaced by a single type of slip containing a QR code and the IBAN of the account to be credited.

Learn more: payment standards website

Pinpoint your needs

Most people will only have to make one or two small changes to start using the new system, such as using new payment slips and entering information differently when making payments through online banking.

If you or your company transfer payment files, however, the changes will be more far-reaching. You’ll need to update your software and plan ahead to see what other changes you’ll have to make, particularly if you use customized payment software.

If you use an optical scanner, you’ll have to make sure your software works with the new standards.

Run our simulation to find out what steps you need to take to get ready for the changeover.

Run simulation

Timeline

The changeover will begin in mid-2016 and end in mid-2020. It will be a step-by-step process to ensure the transition is as seamless as possible. At BCV, we'll begin gradually moving to the new payment system in 2016. 

 

 

Payment transfers Payment systems between banks will be harmonized.

  Find out more

Payment slips The red and orange payment slips will be replaced with a single slip.

  Find out more

Debits The e-billing and direct debit systems will be combined.

  Find out more

 

 

Planning migration harmonisation

 

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Schedule

A table showing the important steps in the changeover process (in French only).

File size : 241.88 KB - Last update : 17 March 2016

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FAQs

The dedicated website provides answers to FAQs concerning the changeover.

Useful documents

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Schedule

A table showing the important steps in the changeover process (in French only).

File size : 241.88 KB - Last update : 17 March 2016

 

Brochure

A guide to the upcoming changes to payment transactions and how they will affect you (in French only).

File size : 3.47 MB - Last update : 17 March 2016

 

Checklist

A list of all the things you need to do and in what order. We’ll keep it updated throughout the process. (In French only.)

File size : 251.71 KB - Last update : 10 June 2017

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