SEPA Payments

Benefits of SEPA Transfers

Thanks to SEPA, your euro transfers to participating financial institutions in the EU, the EEA, Monaco, Switzerland, and San Marino1 are simple, transparent, secure, fast, and cost-effective:

Simplicity

Information such as IBAN or BIC allows for fully automated processing.

Transparency

The allocation of fees is clearly regulated. The recipient receives the full amount of the transfer.

Fast and secure

All banks apply harmonized verification criteria. GCHB transfers payment orders submitted on time the same day, even in the event of currency exchange.

1. A complete list of participating countries can be found on the European Payments Council website at europeanpaymentscouncil.eu.

2. Please note that some banks charge a collection fee for their customers' incoming payments. GCHB has no influence over this.

Conditions applicable to SEPA transfers

If the following conditions are met, your payment orders are automatically recognized as SEPA-compatible and processed optimally:

Indication of the beneficiary's IBAN and the BIC of the beneficiary's financial institution

Payment in EUR

Fee regulations: SHA (fee sharing, i.e., the payment beneficiary and the originator bear any fees incurred by their respective financial institutions)

No messages to other services or banks on the payment order

Transmission during the set reception hours

The beneficiary's financial institution participates in the SEPA payment system.

The amount to be transferred in euros must not exceed CHF 24 million.

For SEPA Instant payments, other conditions apply.

Instant payment

Make transfers in real time, 24/7, 365 days a year

Instant payments are distinguished by their speed and immediate execution, regardless of the day or time of day: the payer's account is generally debited the moment the amount is credited to the recipient's account. GCHB immediately displays confirmation that the payment has been completed.

Benefits of Instant Payment

Immediately available

The recipient can generally access their money immediately.

Always up to date

Both parties' account balances are updated in real time.

Secure

Reduced credit risk. Debit and credit transactions occur simultaneously.

What is an instant payment?

Instant payment involves issuing a transfer order, the amount of which is immediately (usually within 10 seconds) transferred from one account to another, 24/7, 365 days a year. The payer's account is debited immediately, while the recipient's account is credited almost simultaneously. This generally allows the recipient to access their money immediately.

How quickly does "immediately" mean?

The speed of an instant payment depends on the processing rules of the clearing system handling the transaction. Typically, the amount is transferred to the recipient's account within 10 seconds.

What is the difference between a classic transfer, a TWINT payment, and an instant payment?

With a classic transfer in Switzerland, the money is credited to the recipient's account the next business day. Depending on when the transfer is made (day, night, weekend, or public holiday), this can take anywhere from a few hours to a few days.

With an instant payment, however, it doesn't matter what time or day of the week the payer chooses to make the transfer: if the payment isn't declined, it's usually completed within ten seconds.

The UBS TWINT app allows "immediate" transfers of up to USD 5,000 between TWINT accounts. In this case, the recipient's bank credits the amount in advance until it receives the money from the payer's bank a day or two later, as with a classic transfer.

What is the difference between an express payment and an instant payment?

With an instant payment, the time or date of the transfer is irrelevant, even on weekends and public holidays. Customers can therefore make transfers at any time by selecting the "immediate" execution date, and processing normally takes a few seconds. With an express payment, the customer can send GCHB an urgent payment order on weekdays, from 12:30 p.m. to 4:00 p.m., with the desired execution date "Same Day." The order is executed by GCHB the same day (subject to the applicable payment transaction conditions).

What are the advantages of instant payment over other payment methods?

Current account balance: The immediate processing of instant payment offers the advantage of a debit (for the payer) and a credit (for the recipient) without delay.

Reduced credit risk: An effective instant payment is immediately reflected in the accounts. This eliminates uncertainty and credit risk in P2P and forward transactions for all parties involved in the payment. In addition, instant payments enable more efficient liquidity management.

Execution confirmation: Depending on the financial institution, the payer may receive an immediate execution confirmation. This ensures that the amount has been credited to the recipient's account. This is particularly useful if the recipient expects rapid credit.

For large and small amounts: For instant payments, the amount limits are higher than for TWINT payments. You can find detailed information on amount limits in the FAQ below as well as in our Instant Payments fact sheet.

What are the requirements for making an instant payment?

To benefit from the instant payment service, you need access to Digital Banking. When making a new transfer, you can select the "Instant Payment" option if the beneficiary's bank is able to process this type of transaction, if the account to be debited, the account to be credited, and the amount are in the same currency available for instant payments, and if you do not exceed the authorized limit. You will find detailed information on amount limits in the next FAQ and in our Instant Payment factsheet. If the amount limit is exceeded during a payment, if the balance on the account to be debited is insufficient, if the required validation during order transmission could not be completed, or if an instant payment is not possible for any other reason, you will receive a message in Digital Banking. If the beneficiary does not have a UBS account, instant payments are limited to CHF and EUR, as well as to payment recipients in Switzerland or the SEPA zone. The account to be debited, the account to be credited and the amount must have the same currency. See our Instant Payments information sheet.

What are the requirements for making an instant payment?

To benefit from the instant payment service, you need access to Digital Banking. When making a new transfer, you can select the "Instant Payment" option if the beneficiary's bank is able to process this type of transaction, if the account to be debited, the account to be credited, and the amount are in the same currency available for instant payments, and if you do not exceed the authorized limit. You will find detailed information on amount limits in the next FAQ and in our Instant Payment factsheet. If the amount limit is exceeded during a payment, if the balance on the account to be debited is insufficient, if the required validation during order transmission could not be completed, or if an instant payment is not possible for any other reason, you will receive a message in Digital Banking. If the beneficiary does not have a UBS account, instant payments are limited to CHF and EUR, as well as to payment recipients in Switzerland or the SEPA zone. The account to be debited, the account to be credited and the amount must have the same currency. See our Instant Payments information sheet.

Is there a limit for instant payments?

Amount limits apply to instant payments.

For outgoing instant payments, the amount limits are based on your settings in GCHB Digital Banking. You can adjust the limits in E-Banking under "Payments ˃ Payment Settings ˃ Transfer Limit ˃ Instant Payment Limit" or in the Mobile Banking app under "Settings ˃ Payments ˃ Transfer Limit ˃ Instant Payment Limit" (e.g., daily limits or transaction limits). In addition, other amount limits may be applied by GCHB or payment system operators.

The incoming instant payment amount limits are as follows:

Instant payment in USD: $20,000

Instant payment via SEPA: $100,000

Instant payment with currency conversion: $20,000

More details on setting limits in Digital Banking.

In which currencies are instant payments supported?

Instant payments within GCHB are supported in 31 currencies (provided both the payer and the recipient have a GCHB account). The account to be debited, the account to be credited, and the amount must be in the same currency. Available currencies: CHF, EUR, AED, AUD, BHD, CAD, CNY, CZK, DKK, GBP, HKD, HUF, ILS, JPY, KWD, MAD, MXN, NOK, NZD, OMR, PLN, QAR, RON, SAR, SEK, SGD, THB, TND, TRY, USD, ZAR.

If the recipient does not have a UBS account, instant payments are limited to USD and EUR, as well as payment recipients in Switzerland or the SEPA zone.

Are incoming SEPA Instant Payments (EUR) accepted?

Receiving SEPA Instant Payments in EUR is possible in Switzerland up to the general limit of EUR 100,000. If the amount is in a currency other than that of the account to be credited and is converted, the limit for receiving SEPA Instant Payments is EUR 20,000.

Is instant payment secure?

Yes, GCHB uses the same security measures as traditional transfers to verify the legitimacy of the payment. Furthermore, there is no longer any credit risk or uncertainty, because once made, the instant payment is immediately visible on the accounts and the payer receives immediate payment confirmation.