PAYMENTS FROM SWITZERLAND/LIECHTENSTEIN TO THE EURO AREA
The Swiss financial center adopted the IBAN/BIC resolution of the European Payments Council (EPC), which is pursuing the creation of a single European payment traffic area (SEPA). Thus the Swiss banks are obliged to treat cross-border transactions with IBAN and BIC.
RTGS payments to certain countries are therefore validated against the STP rules. Additional fees apply for non-STP payments.
