Payments in Europe:
always use the IBAN and BIC

Since 1 January 2006, European banks require the payee's IBAN (International Bank Account Number) and BIC (Bank Identifier Code) for payment transactions. If the IBAN and BIC are not included on a payment order, the recipient bank will levy additional third-party charges because it will be unable to process the payment details automatically. These third-party costs are passed on the person ordering the payment. Since 2007 recipient banks have had the right to reject orders for cross-border payments that do not carry an IBAN and BIC.

It therefore makes sense to switch to the IBAN and BIC for your foreign payment transactions. If you do not know the beneficiary's IBAN and/or the BIC of the beneficiary's bank and they are not shown on the invoice, please ask the beneficiary for this information.

The IBAN is a standardized international account number that allows instant recognition of the three main account identifiers i.e. the country, bank and account number. The BIC is used to identify the beneficiary's bank. A payment instruction which includes the IBAN and BIC can be processed automatically without manual intervention.

If you send invoices abroad, please provide the payer with your IBAN and BIC. You can find your own IBAN and BIC, for example, on your account statement either in UBS e-banking or on the printed version.

The UBS information sheet "Payments in Europe: always use the IBAN and BIC (PDF, 94 KB)" will provide you with more details.

You can also use the IBAN for your Swiss domestic payment transactions.