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Details on the changeover in the overview

PostFinance has already implemented the new standards. Here you will find a quick overview of the most important information regarding accounts payable and accounts receivable management, as well as liquidity management and cash management.

  • PostFinance is ready for the ISO 20022 standard

    Current schemes and standards for credit transfers (EPO, DTA) will be replaced by ISO 20022 message types and processing rules. PostFinance recommends that you change to EPO in XML format, in accordance with ISO 20022, as quickly as possible. You can already benefit from the universal ISO 20022 EPO service. For example, in addition to the EPO, you can also receive and handle processing messages and execution/individual confirmations in ISO 20022 format.

    The current procedures, standards and formats (EPO 1st to 3rd generation in text format) will no longer be supported after the end of 2017.

  • PostFinance offers various options

    Up-to-date account balances and transaction reports are essential for regular account reconciliation. In future, the Swiss financial center will also offer account statements and notifications in the new ISO standard format. Uniform formats enable a consistent automated processing of these messages (straight-through processing, STP). Customers can choose between collective and individual notifications, with or without detailed information, as well as with or without slip images for red inpayment slips. Both intraday and end of day account statements are available. PostFinance can also provide documents electronically as structured message files (ISO 20022 or SWIFT format) or as documents in PDF format.

  • PostFinance is opting for a harmonized solution

    PostFinance is committed to harmonization and interoperability with other Swiss banks, including for the national direct debit scheme. In future, it should therefore be possible to submit direct debits from accounts at all Swiss banks to your own main bank.

    The CH-DD Direct Debit Scheme (Swiss Direct Debit) is strongly geared towards the processes currently used by PostFinance for national Debit Direct as well as towards those used by other Swiss banks (LSV+). The rules normally used in Switzerland for reporting the payment of direct debits (open accounting) will therefore be supported in future. Payments within Switzerland can be made in CHF and in EUR. PostFinance will continue to offer products for multiple debit attempts and current debit authorizations remain valid.

    Deliveries and notifications according to the old Debit Direct TXT format will still be supported until the end of 2017.

  • ISO 20022 uses international message formats

    As the new payment transactions are implemented, new message formats will be used for transfers, notifications and debits. The message formats are based on structured XML messages, which are standardized by the International Organization for Standardization (ISO).

    The following message types are used for payment transactions:

     

    ISO message type Description Commercial reference
    ISO message typepain.001 DescriptionPostFinance uses the ISO 20022 message for electronic payment orders (EPO)
    Commercial referenceAccounts payable, salary or pension payments, with flags for heightened data protection where required
    ISO message typepain.002
    DescriptionISO 20022 message; informs customers in stages of the status of sent payment orders (pain.001) or direct debit orders (pain.008)
    Commercial referenceRealization of a comprehensive process control, e.g. in an order cockpit
    ISO message typepain.008
    DescriptionISO 20022 message for electronic issuing of direct debit orders Commercial referenceAccounts receivable solution for the processing of direct debits in Swiss francs and euros
    ISO message typecamt.052
    DescriptionISO 20022 message for intraday account movements Commercial referenceImplementation of cash management
    ISO message typecamt.053
    DescriptionISO 20022 message for standard account statements with detailed notification at the end of the day; structured alternative to SWIFT MT940/950 account statements Commercial referenceImplementation of cash management with reconciliation of account balances at the end of the day
    ISO message typecamt.054
    DescriptionISO 20022 messages for credit and debit notifications, as well as detailed notifications Commercial referenceRealization of a process control with information on incoming and outgoing payments

    ISO 20022 not only includes payment transactions, but also other areas such as securities, foreign trade and treasury. These new message types will be introduced to financial centers gradually.

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