swisseuroGATE – euro payments made to Switzerland and Liechtenstein

swisseuroGATE is the interface between TARGET2/STEP2 and the Swiss RTGS system euroSIC. Financial institutions participating in TARGET2 or STEP2 can rapidly, easily and inexpensively process all types of cross-border payments in euro to Switzerland and Liechtenstein at any time through swisseuroGATE.

Many financial institutions use this fast and inexpensive connection both for retail and large-value payments.

Easy and inexpensive

With swisseuroGATE, institutions outside Switzerland and Liechtenstein can send payments directly through the European TARGET2 system at over 3,200 bank locations in Switzerland and Liechtenstein. euroSIC participant banks in Liechtenstein can be reached at any time through STEP2, the pan-European bulk payment system. Since correspondent relationships are eliminated, cross-border euro payment traffic can be operated cost-effectively.

Real-time payments

Standard and without surcharge: payments with guaranteed same value-day delivery to the beneficiary bank are executed irrevocably and unconditionally in real time. Customer payments are possible up until 5:00 pm CET and bank-to-bank payments until 6:00 pm CET. And this regardless of the transaction amount, of course.

Payments worldwide

From Andorra to Zimbabwe – swisseuroGATE is used by banks around the world, even far beyond the euro zone. Financial institutions from nearly all countries in the world use this fast and easy option for payments to banks in Switzerland and Liechtenstein.

Simple handling

The BIC code is used for addressing the beneficiary euroSIC participant. It is recommended that SECB, the euroSIC system manager (BIC code SECGDEFF), be given as the intermediary bank.

Reduced SWIFT costs

Many institutions send MT103 messages directly to the beneficiary bank as well as a cover payment through correspondent banks. This creates the need for two SWIFT messages per payment. All cover payments are eliminated with swisseuroGATE, which can reduce communication costs for the sender bank.

Reachable financial institutions

The "Inquiry BC Number" online service makes it easy to search for institutions that are euroSIC participants and thus reachable via swisseuroGATE.

The data forming the basis of this search engine can also be downloaded in entirety in the form of a BC Bank Master file and filtered according to individual preferences. The electronic BC Index file with an offline query function and a convenient search mask provides a further download option. All master data is updated daily.

Example of a customer payment

Customer payment from Italy: SWIFT MT103

Would you like more information or a personal consultation? Call +41 44 279 4747 or contact us using the online form.