Issuing conditions

1 General

1.1

SIX Interbank Clearing issues and administrates the Creditor Identifiers on behalf of the Swiss and Liechtenstein financial centers. These are required for the issuing of SEPA direct debit mandates and for the collection of SEPA direct debits.

A Creditor Identifier can be used at all financial institutions throughout the SEPA zone and, together with the mandate reference, enables the verification of the SEPA direct debit mandate by the debtor and/or their financial institution. There is no time limit for usage of the Creditor Identifier.

1.2

The issuing of a Creditor Identifier takes place regardless of the applicant’s legal characteristics and the creditor’s economic situation and therefore does not contain any statement or evaluation thereof by SIX Interbank Clearing.

No authorization to collect SEPA direct debits is connected with the issuing of the Creditor Identifier. Such authorization can only be granted by the financial institution that holds the creditor's account.

1.3

The application for the issuing of a Creditor Identifier by SIX Interbank Clearing is to be made by the creditor's institution (ordering party). The creditor's primary domicile and business headquarters must be in Switzerland or Liechtenstein. The ordering party must be located within the SEPA zone.

Communication with the creditor occurs exclusively through the financial institution.

2 Applying

2.1

The application form is provided via a website (www.sepa.ch). Application is initiated by entering and sending the requested data.

2.2

After it is issued, the Creditor Identifier is sent to the ordering party with a notification letter.

The information in the notification letter is to be provided to the creditor by the ordering party.

3 Modification of the application data

3.1

A new Creditor Identifier must be applied for if changes occur regarding the creditor's person or company (e.g. name change, change of legal form, etc.) This also applies for a change of address or to the bank reference.

On request by their financial institution, the creditor must prove that throughout the changes their identity remains otherwise ensured.

3.2

If a company in entirety is transferred to a new legal entity, the Creditor Identifier of the company being taken over is to be used. The creditor’s former Creditor Identifier is to be returned to its financial institution for deletion.

4 Fees

The service is free of charge.

5 Validation/Liability

Responsibility for the provision of accurate data lies exclusively with the ordering party. The ordering party is responsible for checking whether the creditor's data is accurate and whether the company actually exists, etc. SIX Interbank Clearing does not validate the data provided by the ordering party, nor does it assume any liability for such data.

The personal data associated with the issuing and administration of Creditor Identifiers will be compiled, processed and used for by SIX Interbank Clearing exclusively for this purpose, in observance of the stipulations of the data protection law. Data will be retained until it is no longer needed or until the deletion thereof is requested in writing. No directory of valid or deleted Creditor Identifiers will be published.