IBAN in Switzerland

IBAN has already been successfully established as the standard in cross-border payments. Now it's being used in Switzerland too. In future, the 21-digit IBAN will completely replace the traditional account number structure.

You should therefore change over to IBAN for all your payment transactions now. If you don't know the beneficiary's IBAN and it isn't on the invoice, then ask the beneficiary to let you know what it is.

If, on the other hand, it's you who's issuing the invoice, then make sure the payer knows your IBAN. If you're invoicing someone abroad, you must also include your BIC (Bank Identifier Code). You can find both on your printed account statement or in UBS e-banking. You can also find the IBAN on your UBS Maestro Card.

In Switzerland, payments without an IBAN will for now continue to be processed without additional third-party charges. However, it is possible that in the next few years additional charges will also be levied on domestic payments without an IBAN. That's why it's a good idea to start using the IBAN for all of your payments now, instead of the previous bank-specific account number format. That way, you will be fully prepared.

As a general rule, if you make payments by means of standing order or have created payment templates in UBS e-banking, it's worth adding your IBAN and BIC to them in UBS e-banking. Also, don't forget to adjust the master data stored in your offline data entry software.