Banks participating in the euroSIC system are able to send and receive SEPA-compliant credit transfers with little effort.
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SEPA credit transfers
SEPA Direct Debit Service of SIX
SIX enables banks in the SEPA countries to collect standardized euro direct debits throughout Europe.
Finance IPNet is a communication service provided by SIX.
IBASEC is used for the SIC and euroSIC payment systems as well as for the securities clearing and settlement system SECOM at SIX.
Usually, banks participate in the Swiss RTGS systems SIC and euroSIC through proprietary interfaces from software providers or through the SWIFT network.
The euroSIC payment system
euroSIC enables banks worldwide an efficient and inexpensive access to the euro finance marketplace and the Swiss financial center.
The SIC franc payment system
SIC processes Swiss franc payments between banks in real time on behalf and under the supervision of the Swiss National Bank.