Standardised payment orders and IBAN account identifiers
The procedure for payments is being adjusted to the new ISO norm, which also forms the basis for the European SEPA procedure. This transition is binding on all payment service providers in Switzerland. After the end of the migration phase, the IBAN will be used exclusively as the primary identifier.
In future, payment orders will generate automatic status reports. These provide information on any errors, warnings, or corrections. To receive these status reports, the orders must be placed in ISO format.
Technical information
Under the ISO standard, payment orders are transmitted as pain.001 messages, and they generate automatic status reports in the pain.002 format.
IBAN as account identifier
Since 31 March 2020, country-specific account number formats have been replaced without exception by the already prevalent IBAN. This minimises errors and accommodates a higher straight-through processing (STP) rate.
