07.05.2008 77 financial institutions from the CHF zone in SEPA
With SIS SegaInterSettle AG, the Geneva Cantonal Bank and the Amtsersparniskasse Schwarzenburg, three additional Swiss banking institutions joined the Single Euro Payments Area (SEPA) on May 5, 2008.
07.05.2008 Accelerated increase of SEPA transactions
Among the banks in Switzerland and Liechtenstein that are participating in SEPA, 46 out of 77 are processing their transactions through euroSIC/STEP2. This payment channel recorded accelerated transaction growth in April over the previous month: Transaction processing increased by 38%, to nearly 23,000 (in comparison, the increase from February to March was 14%). In the same period, turnover increased by 46% to over EUR 251 million (there was an increase of 44% in the previous month)... more
07.05.2008 New e-mail for the Swiss NASO
Effectively immediately, naso@sic.ch will function as a communications interface between the financial institutions and the Swiss National Adherence Support Organisation (NASO), Swiss Interbank Clearing, to ensure a smooth SEPA registration process. The e-mail address, sepa@sic.ch, will remain active for general questions on the topic of "SEPA and Switzerland".
07.05.2008 The latest SEPA study
A SEPA publication with numerous references to the international use of cashless payment means was recently published by Credit Suisse Economic Research. It contains comments based on the latest statistical publications, including those from the European Central Bank and the Bank for International Settlements (BIS)... more
01.04.2008 Four more Swiss banks to participate in SEPA
Fortis Bank (Schweiz) AG, Mirabaud & Cie, Bank Coop AG and AKB Privatbank Zürich AG round off the list of 74 financial institutions from Switzerland and Liechtenstein that will be participating in the SEPA Credit Transfer Scheme as of April 7, 2008.
01.04.2008 Growing SEPA transaction figures
The number of transactions that were processed through euroSIC/STEP2 increased to above 16,500 in March, up 14% on the month before. In the same time period turnover increased to over EUR 172 million, which represents a growth rate of more than 44% ... more
01.04.2008 New rulebook version undergoing approval
The European Payments Council (EPC) has published a new draft version of the SEPA Credit Transfer Scheme Rulebook. The final version should be approved in June and then will be available starting February 1, 2009 ... more
29.02.2008 First SEPA month figures
In the first month since the SEPA Credit Transfer Scheme launch on 28 January, about 16,000 transactions valued at EUR 127 million were made through the SEPA-compatible Swiss clearing and settlement mechanism euroSIC and the STEP2 platform of Euro Banking Association (EBA).
29.02.2008 Three more banks
On 3 March, AIG Private Bank Ltd., Banca Popolare di Sondrio and the Swiss National Bank will be joining the 67 SEPA participants from Switzerland and Liechtenstein.
29.02.2008 EPC updates time table till October 2008
The operational SEPA start date for financial institutions has been aligned to the first Monday of each month ... more
29.01.2008 Successful launching of the SEPA Credit Transfer Scheme in Switzerland
Yesterday, the first SEPA-compatible euro transactions were processed throughout Europe. In Switzerland 429 SEPA payments were made through the euroSIC system on the first day. For more information: read the media release "Standardized euro transfers throughout Europe".
29.01.2008 New website www.sepa.ch
The website www.sepa.ch has just been redesigned and routes visitors to the comprehensive online information platform for financial institutions on the topic of “SEPA and Switzerland”.
24.12.2007 64 financial institutions from Switzerland and 3 from Liechtenstein are ready for the introduction of SEPA
As of the SEPA start date of January 28, 2008, 42 of the 67 financial institutions in Switzerland that have registered will begin processing euro transactions through the SEPA-compatible Swiss CSM (clearing and settlement mechanism) euroSIC.
24.12.2007 FAQ about SEPA
The most important questions and answers regarding the SEPA Credit Transfer Scheme from the perspective of financial institutions in Switzerland.
24.12.2007 euroSIC system manager: Successful SEPA tests
According to the Deutsche Bundesbank and the Euro Banking Association (EBA), the euroSIC system manager, Swiss Euro Clearing Bank (SECB), successfully completed the certification tests for SEPA credit transfer services of the EMZ's SEPA Clearer and of EBA's STEP2. This means that SECB will now be able to route SEPA credit transfers via euroSIC right from the start of SEPA on January 28, 2008.
24.12.2007 EPC issues B2B rulebook
The European Payments Council (EPC) has published the first version of the SEPA Business to Business Direct Debit Scheme Rulebook. The scheme provides a set of interbank rules, practices and standards that will allow the SEPA banks to offer direct debit products to business-to-business (B2B) customers on an optional basis ... more
24.12.2007 SEPA directive comes into force
At the beginning of December, the European Parliament and the European Council published the new EU "Payment Services Directive" 2007/64/EC on payment services in the internal market. The EU and EEA member states must implement this directive by November 1, 2009, replacing Directive 97/5/EC. The aim of the directive is the creation of a single European payment traffic zone and new SEPA products.
30.11.2007 19 Swiss banks registered for SEPA
The following banks have joined the six financial institutions that had already registered for the SEPA credit transfer scheme by November 20, 2007: Credit Suisse Group, Neue Aargauer Bank, Clariden Leu, the Cantonal Banks of St. Gallen, Lucerne, Appenzell and Nidwalden, HYPOSWISS Privatbank AG, AEK BANK 1826, Habib Bank AG Zurich, Regiobank Solothurn AG, Bezirks-Sparkasse Dielsdorf and Ersparniskasse des Amtsbezirks Interlaken. This means that one week before the registration cut-off for the earliest possible SEPA start on January 28, 2008, 19 financial institutions have submitted their registration documents so far.
30.11.2007 "SEPA guidelines must be implemented!"
The Swiss financial institutions have assumed an obligation with SEPA which requires they meet the SEPA specifications. Thus states Joerg Auer, outgoing Chairman of the Swiss Payments Council, in an interview with the professional journal for payment traffic, ClearIT ... more
30.11.2007 Euro Alliance of Payment Schemes (EAPS) founded by six European card payment schemes
Six processors of European card payment schemes from Italy, Germany, Belgium, Spain, the UK and Portugal have joined together to create a new European card scheme in conjunction with SEPA ... more
20.11.2007 Six Swiss banks registered for SEPA
The following Swiss financial institutions have registered to date for the SEPA credit transfer scheme: UBS, Basler Kantonalbank, LB(Swiss) Privatbank AG, Société Générale (Zurich branch office), Fortis Bank, SA/NV, Brüssel (Zurich branch office) and the Freiburger Kantonalbank.
20.11.2007 Prices for SEPA payments via euroSIC
As a joint venture of the Swiss financial center, Swiss Interbank Clearing offers financial institutions a very attractive price model for payments that qualify for the SEPA credit transfer procedure. The model includes various price levels. The more payments an institution processes through euroSIC, the less expensive the price becomes.
20.11.2007 SECB has signed the Adherence Agreement
The SECB Swiss Euro Clearing Bank, the euroSIC system manager, which is based in Frankfurt has signed the SEPA Credit Transfer Adherence Agreement and sent it to the German NASO (National Adherence Support Organisation), Zentraler Kreditausschuss. According to the Kreditausschuss it has forwarded the application to the EPC.
20.11.2007 Online directory of banks participating in SEPA
A new website contains the latest list of all the financial institutions that are participating in the SEPA credit transfer scheme, published by the European Payments Council (EPC). Listed are only those banks for which applications have been approved by the EPC.
20.11.2007 Processing of cash in the euro zone
The state of the harmonization and efficiency of cash processing in the euro zone is analyzed in a new EPC publication, which also offers suggestions to reduce costs.
26.10.2007 Swiss NASO launches SEPA registration process
In its role as National Adherence Support Organisation (NASO), at the end of October, Swiss Interbank Clearing will start the process for joining SEPA for financial institutions in Switzerland and Liechtenstein. The institutions must submit their joining declarations to Swiss Interbank Clearing by December 7, 2007 in order to be able to qualify for the earliest-possible participation (January 28, 2008) in the SEPA Credit Transfer Scheme. Subsequent registrations will begin on a monthly basis starting March 2008. Upon request, Swiss Interbank Clearing will provide support to financial institutions in the registration process through workshops.
26.10.2007 Swiss Interbank Clearing signs agreement with the EPC
At Sibos, an annual fair of the financial industry, Swiss Interbank Clearing signed the “Clearing and Settlement Mechanism disclosure” agreement with the European Payments Council (EPC) on October 2, 2007, along with eleven other European operators of clearing and settlement systems. It has thereby obligated itself to ensure the operability of the euroSIC system for SEPA credit transfers starting January 28, 2008.
26.10.2007 ECB calls for e-SEPA
According to Jean-Michel Godeffroy, Director General of the European Central Bank (ECB), along with the introduction of SEPA, preparations for e-SEPA must be made at the same time so that Europe also remains competitive in the field of alternative payment methods triggered by the Internet, the chip card and the mobile phone ... more
02.10.2007 Participation by the Swiss banks in SEPA is approved
The European Payments Council (EPC) formally approved the acceptance of the Swiss financial center into the Single Euro Payments Area (SEPA) at its plenary meeting on September 28, 2007.
02.10.2007 Swiss SEPA credit transfer roadmap update
Schedule of major milestones leading to the introduction of the SEPA credit transfer scheme within the Swiss financial center from the banks' perspective.
02.10.2007 Swiss Interbank Clearing chooses Incentage for SEPA integration
Swiss Interbank Clearing Ltd has decided for the Middleware Suite (IMS) from Incentage. Using this software solution, the euroSIC system will be able to offer a conversion service for the exchange of data between the financial institutions within the framework of the SEPA credit transfer scheme. In the process, the payments will be converted into the SEPA standard XML format so that financial institutions will be reachable for SEPA-compatible payments starting January 28, 2008, without having to introduce their own XML integration solution.
02.10.2007 EPC has chosen CB.Net to provide repository services
The European Payments Council (EPC) has chosen the British payments reference data firm CB.Net to provide centralized repository services for SEPA credit transfers and direct debits. EPC data will be integrated into CB.Net's payments directory BankSearchPlus. CB.Net will link bank identifier codes (BICs) to international bank account numbers (IBANs) for the routing of cross-border payments.
02.10.2007 World Payments Report 2007
It is unlikely that a critical mass of SEPA payment instruments will be achieved by the end of 2011, unless regulators provide incentives in order to mobilise European public administrations and corporations to adopt the new SEPA instruments. This is a key finding of the World Payments Report, recently published by Capgemini, ABN AMRO, and the European Financial Management & Marketing Association (EFMA). The report considers world payments trends, with a particular emphasis on developments towards a Single Euro Payments Area in Europe.
06.09.2007 Pleasing feedback from Swiss banks
Almost 60 financial institutions, who process more than 90% of Swiss payment transactions, are interested in participating in SEPA. A survey carried out in August clearly indicated that particularly financial institutions that process a high volume of mass payments would be hooking up to the SEPA credit transfer scheme. The survey also showed, however, that smaller banks in particular still need to address the subject of SEPA in more detail.
06.09.2007 Swiss NASO
Swiss Interbank Clearing Ltd enlisted on the European Payments Council's web site as the National Adherence Support Organisation (NASO) of Switzerland.
06.09.2007 SEPA dual implementation phase should be as short as possible: ECB study
In its recently published impact study "The economic impact of the Single Euro Payments Area", the European Central Bank (ECB) confirms the view that a dual SEPA implementation phase should be as short as possible. In fact, a longer migration period would give rise to higher costs than a shorter period. It can furthermore be concluded that those institutions that embrace new technological developments, create new businesses and provide innovative services are likely to gain most from SEPA.
16.08.2007 www.sepa.ch
The Internet address, www.sepa.ch, is active and routes visitors to Swiss Interbank Clearing’s comprehensive online information platform on the topic of “SEPA and Switzerland”.
16.08.2007 SECB tests the EBA's SEPA platform
Swiss Euro Clearing Bank (SECB), the euroSIC system manager, is establishing a connection to the new SEPA-compatible payment transfer procedure, STEP 2 SEPA Credit Transfer, offered by the Euro Banking Association (EBA).
16.08.2007 Participation in SWIFT's testing programme
The euroSIC system manager SECB has been registered for SWIFT's Simulation Test and Qualification Service (STaQs). The SECB will then be able to check that euroSIC can send and receive SEPA-compliant payments.
16.08.2007 Connection to the Bundesbank’s SEPA Clearer
The SECB is participating in the services offered by the German Bundesbank for the processing of national and cross-border SEPA payments through its so-called SEPA-Clearer. Tests will begin in mid-October. This payment scheme represents an alternative to the German Bundesbank's familiar EMZ, however for SEPA-compatible transfers and will be used as such by the SECB.
25.07.2007 Swiss SEPA credit transfer roadmap
Schedule of major milestones leading to the introduction of the SEPA credit transfer procedure within the Swiss financial center from the banks' perspective.
25.07.2007 DRS 1: Espresso
In a Swiss German radio broadcast of 28.06.2007, Boris Brunner, UBS, faced questions about the high fees for cross-border payments made from Switzerland to recipients abroad. This interview can be downloaded from Swiss radio DRS for a one-time charge of CHF 3.90.
25.07.2007 The European Central Bank’s Internet portal about SEPA
The European Central Bank (ECB) has set up a comprehensive online information platform that includes, among other things, a list of links to SEPA-relevant Internet sites for the respective SEPA member countries
25.07.2007 ECB progress report
“SEPA: from concept to reality”: In its fifth progress report on the Single Euro Payments Area (SEPA), which was published on 20 July 2007, the Governing Council of the ECB focuses on giving guidance to the market in those areas in which greater efforts are needed in order to make the SEPA project a success ... more
25.07.2007 Reachability threatened
A new survey by the consulting company LogicaCMB indicates that many financial institutions participating in SEPA are insufficiently prepared to receive payments in SEPA format ... more
06.07.2007 New Rulebook versions
The latest versions of the SEPA Credit Transfer Scheme and SEPA Direct Debit Schemes Rulebooks and their Implementation Guidelines are now available, having been approved by the EPC Plenary on 19 June. These have been amended in respect of Scheme Management. Other minor clarifications and corrections were made at the same time, but these do not impact implementation.
06.07.2007 New implementation date for SCT
According to the EPC resolution of June 19, 2007 regarding the SEPA Credit Transfer Scheme, the Rulebook version 2.3 now forms the basis for first implementation, replacing version 2.2 for a revised implementation date of 28 January 2008 ... more
06.07.2007 Swiss Interbank Clearing Ltd to become the Swiss "NASO"
On the proposition of its Board of Directors, Swiss Interbank Clearing Ltd. shall become the National Adherence Support Organisation (NASO) in Switzerland. A NASO is responsible for providing basic guidance on the adherence process of a SEPA member country's financial institutions. It has to carry out a basic preliminary review of an adherence application and forward it to the EPC.
