Payments

A central payment system (SIC) provides the financial sector with central-bank money and carries out payments between banks and other key participants. It is crucial for successfully implementing the monetary policy and is often performed by central banks themselves.

The Swiss National Bank (SNB) has a direct online link to the SIC and ensures smooth daily operation. The participating banks are also linked to the system directly or via an IT centre (located at Swiss Interbank Clearing AG). Each of the banks participating in the SIC have a giro account at the Swiss National Bank.

Transactions are settled via SIC, EuroSIC or directly in SIS , depending on the settlement currency.