Accessing Swiss payments has long posed challenges for foreign financial institutions, but that barrier may finally be falling.
On June 2, Banking Circle announced its platform now connects directly to Switzerland’s SIC network, allowing clients to send and receive Swiss Franc (CHF) payments through both instant and batch processing methods.
The launch is already live and includes access to virtual IBANs issued in Liechtenstein, designed to improve regulatory compatibility and give users more hands-on control over their accounts.
“This is another clear signal that the market wants to see improvement in global payments infrastructure and we intend to be the go-to payments bank for financial institutions across Europe looking for simplified, accelerated, real-time transactions,” said Laust Bertelsen, CEO at Banking Circle.
Navigating Swiss payments
Switzerland’s payments system has traditionally been hard to navigate. Without local licences or infrastructure, non-Swiss companies usually rely on sponsor banks to handle CHF payments, which can be costly and slow.
According to the Swiss National Bank’s 2022 report, the complexity of the Swiss payments landscape, combined with strict regulatory oversight, has long limited direct access for foreign firms.
Banking Circle’s direct connection to the SIC system removes this middle step, giving non-Swiss institutions a way to process local and international CHF payments without third-party banks.
The setup also includes Liechtenstein-issued virtual IBANs, allowing clients to open accounts which meet local regulations while keeping management centralised. Through one API, users can handle payments in CHF as well as euros (EUR), pounds (GBP), Danish krone (DKK) and Swedish krona (SEK), with more currencies planned for later this year.
This move is especially important given the push for faster payments across Europe. The European Central Bank requires instant euro payments within the Single Euro Payments Area, showing growing demand for real-time transactions.
Banking Circle has stated this development is part of its goal to become a ‘super-correspondent bank’.
“CHF is a major piece in solving that puzzle — now clients get direct access through our single API platform, which offers smoother customer experiences, better transparency, and lowers costs and complexity throughout the payment process,” added Bertelsen.
