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    Red and orange payment slips discontinued in Switzerland

    Red and orange payment slips discontinued in Switzerland

    BV and BVR payment slips will be withdrawn from the market on 30 September 2022.

    The Swiss payments system is changing to meet the new ISO 20022 standard. This aims to make payments simpler and easier by automating data processing.

    Lombard Odier will help you deal with the changes so you experience a smooth transition. Since June 2020, QR invoices have been gradually replacing payment slips. Issuers of invoices are in the process of making the transition.

    From the end of September 2022, red and orange payment slips will be totally discontinued in Switzerland.

    The main features of QR invoices are as follows:

    • They replace the current red and orange BV and BVR payment slips
    • They contain all the payment details in a QR code
    • They consistently use either the IBAN or the QR-IBAN
    • They can be used to make payments in Swiss francs or euros
    • They can be scanned digitally using a smartphone or adapted optical scanner
    • They are easier and more secure for both issuers and payers


    What does this mean for you as a client?

    As of 30 September 2022, it will no longer be possible to process standing orders based on a BV or BVR where the execution date is after this cut-off.

    As a client, you will have to set up a new standing order based on a new QR invoice.


    Making your payments using My LO

    If you enter your payments in My LO using the mobile app

    Payement1_ArticleLOcom.png

     

    Just scan the QR code on the QR invoice using the scan function in your mobile app. The information will be uploaded automatically. Check the details and approve your payment.


    If you enter your payments in My LO using a computer 

    Payement2_ArticleLOcom.png


    Just use the entry screens provided for QR bills.


    Set up a bank payment by manually entering the payment details on the QR invoice:

    1. The account number in the IBAN format (21 characters)
    2. The name and address of the beneficiary
    3. The reference number, if required
    4. The amount to be paid
    5. Any additional information indicated

    Please note: we advise you to check that all your existing standing orders have been amended and replaced by the new QR invoice.


    FAQs

    Answers to the most frequently asked questions on the harmonisation of payments can be found on the Swiss reference website or at this link.

    You can also consult all the questions regarding My LO on our dedicated page

    Important information

    This document is issued by Bank Lombard Odier & Co Ltd or an entity of the Group (hereinafter “Lombard Odier”). It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a document. This document was not prepared by the Financial Research Department of Lombard Odier.

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