Instant payments enable modern cashless transfers in real time. This technology has been available in Switzerland and Liechtenstein since August 2024. It is based on the new generation of central payment infrastructure, known as the SIC5 system, which is operated by SIX (operator of Swiss financial infrastructure) on behalf of the Swiss National Bank (SNB).

What is special about it is that money is transferred in less than ten seconds – around the clock, 365 days a year. Once the payment is completed, the amount is immediately available.

Sometimes, every second counts

For clients – especially for companies – this creates real added value. Payments can be processed in a matter of seconds. This is especially crucial in online retail or for time-critical transactions.

Your benefits at a glance

The benefits are manifold – for both private individuals and companies.

• Speed: Transfers are processed in real time, even on weekends and public holidays. Long waiting times are eliminated; you can access your money immediately.
• Security: The simultaneous debit and credit minimises the credit risk for both parties.
• Transparency: The paying party and the recipient can immediately view their updated account balance, which provides clarity.
• Predictability: Companies can manage their liquidity and cash flow more efficiently.
• Automation: The immediate availability of funds supports automated processes – such as in invoice processing or e-commerce.

In cooperation with SIX and the SNB:

With the introduction of instant payments, payment transactions in Switzerland and Liechtenstein will become faster. Thanks to the close collaboration between SIX and the SNB, a modern infrastructure for instant payment processing was put into operation in November 2023.

Since then, the staggered onboarding of financial institutions has been underway. The largest banks – which together cover over 95 per cent of the volume of payment transactions in Switzerland and Liechtenstein – can typically process instant payments of up to 20,000 Swiss francs in real time.

The integration of the remaining banks will take place gradually and is expected to be completed by 2026.