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The SECB’s connections to the leading clearing systems ensure the accessibility of banks throughout the SEPA zone for all SECB customers. The SECB and euroSIC offer high-quality and yet very inexpensive solutions for the processing of SEPA Credit Transfers and SEPA Direct Debits. The use of standardized means of payment (SEPA Credit Transfers, SEPA Direct Debits) is just as easy, efficient and secure as previous payment methods on the national level. A differentiation between national and cross-border payments is no longer made in the SEPA zone. SEPA stands for Single Euro Payments Area, which includes 34 nations: the 28 EU member states, the other EEA countries including Iceland, Liechtenstein and Norway, as well as Switzerland, Monaco and San Marino.

It is based on the Swiss SIC interbank payment system for Swiss franc payments and therefore includes all the functions of a RTGS system. The euroSIC system serves the SECB as a processing and settlement system for euro payments within Switzerland and across its borders. Furthermore, it functions as a liquidity manager for the system and as a settlement agent for system participants. As system manager of the euroSIC system, operated in Switzerland by SIX Interbank Clearing Ltd, it is also in charge of the control and supervision of this system. In its role as a payments bank for banks, SECB acts as a correspondent for financial institutions. The business purposes of the SECB include the provision of a connection to the most important euro clearing systems and the processing of payment traffic in euro, primarily for banks and financial institutions from Switzerland and Liechtenstein, as well as those from other countries. It launched banking operations on January 1, 1999. The SECB was founded and obtained a full banking license in 1998.