Stipulated among the rules is that:

• the financial institutions participating in SEPA are reachable for SEPA-compatible credit transfers and are also able to execute the same;
• the credit transfer between the ordering party’s bank and the beneficiary’s bank is to be conducted in euro;
• the customer’s bank account will be maintained in the euro payments area, but must not necessarily be kept in euro;
• the maximum credit transfer duration does not exceed three bank working days;
• a payment is to be made without deductions from the credit transfer amount;
• there are to be no amount limits;
• the transactions are to be processed using standard formats (ISO 20022) and data content, including the provision of the IBAN and BIC;
• the processes of payments as well as rejections and returns are followed.

SEPA credit transfers for Swiss financial institutions

Swiss financial institutions that participate in the euroSIC system are able to send and receive SEPA credit transfers with minimal technical or organizational efforts (code adaptation in a message type and signing of a supplemental agreement with the system manager).

Participation process

Financial institutions that intend to participate in the SEPA Credit Transfer Scheme must submit the following four forms in Word format duly signed to SIX Interbank Clearing:

• Form: SEPA Credit Transfer Scheme Adherence Agreement
  ( Sample / EPC Guide)
• Form: SEPA Credit Transfer Scheme Schedule (A2-Scheme)
  ( Sample)
• Form: SEPA Credit Transfer Scheme Legal Opinion
  ( Sample for Switzerland, Sample for Liechtenstein)
• Form: SEPA via euroSIC
  ( Sample)
• Special Terms for SEPA Transactions
  (for the financial institutions’ customers)
• The SEPA Credit Transfer
  (for the financial institutions’ customers)
• SEPA: Abstract of the Legal Opinion addressed to the EPC on the Participation of Swiss Financial Institutions to the SEPA Credit Transfer Scheme
  Swiss Legal Opinion for Participation
  Annex 1, Annex 2
  "This opinion is confidential. It is addressed to and is solely for the benefit of the European Payments Council and its external counsel and its legal support group as well as for the benefit of SIX Interbank Clearing."

After formal checks of the documents supplied, SIX Interbank Clearing will forward the necessary documents to the EPC. The EPC will acknowledge their receipt and notify, in writing the individual financial institution whether the application is approved or refused.

Further information

SEPA Handbook

Lists of the direct and indirect SEPA participants

SEPA scheme files for pacs

SEPA Credit Transfer Scheme Rulebook, Version 3.2

SEPA Credit Transfer Scheme Inter-Bank Implementation Guidelines, Version 3.2

SEPA Data Model, Version 2.2

Format standards according UNIFI (ISO 20022) XML

Standing data set

Message standard example SWIFT MT103

Message standard example SIC MT A11

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