Bank clearing in Switzerland: explanations and operation

THE bank clearing is a key mechanism in the Swiss financial system. It allows millions of transactions to be processed, verified, and cleared every day between banks, businesses, and individuals. In other words, clearing ensures your transfer reaches the recipient's account quickly, even if their bank is not the same as yours.

Clearing and Swift… How long will this system last in the face of the increasingly widespread adoption of blockchain?

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What is bank clearing?

Clearing refers to the process by which electronic payments are centralized, sorted, and then transferred to the correct bank. In Switzerland, this role is performed by systems managed by SIX Interbank Clearing, under the supervision of the Swiss National Bank (SNB).
Each transaction goes through a clearing house, which verifies and balances financial flows between institutions. This ensures that money circulates smoothly and securely throughout the country.

What types of payments go through clearing?

Clearing covers the vast majority of financial transactions, including:

• THE bank transfers in Swiss francs (CHF) and foreign currencies.
• THE electronic payments (e-banking, mobile applications).
• THE standing orders And direct debits.
• THE interbank transactions between Swiss and international establishments.

The clearing number in Switzerland

Every bank in Switzerland has a clearing number (often also called BC code). This 3- or 5-digit code precisely identifies the institution within the Swiss banking network. For example, if you make a transfer, the clearing number ensures that the payment is directed to the correct bank.
Note that this code is complementary to theIBAN, which identifies the exact account of the beneficiary.

Advantages of this banking system in Switzerland

• Speed : Most domestic payments are credited within 24 hours.
• Security : transactions pass through a centralized system, supervised by the SNB.
• Reliability : even in case of massive volumes, the system is designed to absorb the load without delay.
• Interoperability : it allows Swiss banks to operate together and remain connected to the international network (notably via SWIFT for cross-border payments).

Video explaining international payment processing using the SIC system

Swiss and international clearing

In Switzerland, the most widely used system is the SIC (Swiss Interbank Clearing), specializing in payments in Swiss francs. For transactions in euros, there is the SECOM, interconnected with the European TARGET2 system. This allows Swiss residents and businesses to make fast and efficient payments throughout Europe.

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In summary

THE bank clearing in Switzerland is the backbone of electronic payments. Thanks to this reliable and centralized system, transfers and transactions circulate securely, whether between individuals, businesses, or international banks. Understanding the role of clearing and the importance of the BC number helps to better understand the mechanics behind a simple bank transfer.

Each bank has its own clearing number, which is unique and established over time. The main institutions have the easiest numbers to remember. All cantonal banks are listed in the 07000. The banks/institutions are subdivided into banking groups, currently: 01000 = SNB / Swiss National Bank 02000 = UBS AG 03000 = Reserve 04000 = Credit Suisse Group 05000 = Credit Suisse Group 06000 = Regional banks of the RBA-Holding 07000 = Cantonal banks

Swiss bank Swift BIC code Find IBAN for Swiss account

Each bank has its own clearing number, which is unique and established over time. Major banks have the easiest numbers to remember. All cantonal banks are listed in the 07000 area code.

The bankruptcy of Credit Suisse and its acquisition by UBS will cause a reshuffling of clearing numbers; we will update everything once all is clarified regarding the takeover by UBS. Swiss finance remains very strong but the forced takeover of Credit Suisse has discredited the security and relevance of Swiss high banking finance.

The clearing number is included in the IBAN number.

link:  How to find your IBAN number

List of clearing numbers of Swiss banks

Banks/institutions are subdivided into banking groups, currently:

• 01000 = SNB / Swiss National Bank
• 02000 = UBS AG
• 03000 = reserve
• 04000 = Credit Suisse Group (no idea if UBS took over part of it after the bankruptcy)
• 05000 = Credit Suisse Group (no idea if UBS took over part of it!)
• 06000 = regional banks of RBA-Holding
• 07000 = cantonal banks
  • 07670 = Cantonal Bank of Vaud BCV
  • 07660 = Neuchâtel Cantonal Bank BCN
  • 07650 = Valais Cantonal Bank BCVS
  • 07880 = Geneva Cantonal Bank BCG
  • 07890 = Cantonal Bank of Jura BCJ
  • 07680 = Cantonal Bank of Fribourg BCF
  • 07900 = Bernese Cantonal Bank BCBe
• 08000 = Raiffeisen banks, isolated establishments
• 09000 = PostFinance

Other Banks:

087812 = Swissquote Bank
085700= Bonhôte Bank
08838 = Bank of Lake Geneva
08401 = Migros Bank
8391= WIR Bank
8570= Bonhôte Bank Neuchâtel

8440 = CLER Bank

00762 = Julius Baer

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The clearing number is included in the IBAN number (link): IBAN account description How to find your IBAN number

Your clearing number will be required for payments coming from abroad.