SWISS FRANC CLEARING WITH Société Générale ZURICH

Established in 1926, Société Générale Zurich has been providing cash and clearing services for the Swiss Franc for over 70 years to foreign financial institutions. Société Générale Zurich is a full member of SIC, the Swiss Interbank Clearing System which was established in 1987 as the first and the most sophisticated real-time settlement system.
To meet your payment service requirements, our Swiss Franc clearing product offers you :

FUNDS TRANSFERS

Prompt execution of payment orders : you can automatically transfer your funds with our payments system which has a direct interface with SWIFT, Telex, and SIC. Your orders will be handled by a highly-skilled and widely experienced multilingual Customer Service team.

CONVENIENT CUT OFF TIMES ( SWISS INTERBANK CLEARING TIME )

• Clearing payments transmitted via telex or fax : 09:00 a.m.
• Clearing payments transmitted via SWIFT : 1:30 p.m.
• Book Transfers : 5:00 p.m.
• Amendments and cancellations ( SWIFT, Telex, Mail ) : 11:00 a.m.

Payment orders received after cut-off times will be handled on a best effort basis. Flexibility is assured.

REAL TIME INTRADAY REPORTING
Access to your CHF account on a real-time basis, via WebClear, our internet based product, with the same password if you already use this service for your account in USD and / or in EUR opened with Société Générale New York and Société Générale Paris.
Click here to learn more about WebClear

Société Générale Zurich is able to send you the following Swift reporting messages :

Intra-day information

• MT941 : intra-day balance and statements on a real-time basis, including provisional balances for the following three days.
• MT942 : information detailing your intra-day debits and credits posted to your account.
• MT900 : real time notification of debits posted to your account as well as additional reference information.
• MT910 : real time notification of credit posted to your account as well as additional reference information.

Account information
Daily MT950/MT940 statements : these statements are sent via SWIFT each business day, before midnight (CET). Full transaction references are shown in order to ease reconciliation. Daily account statements are also sent by mail.

Back-Up for SWIFT and SIC

• Swift : For back-up purposes, Société Générale Zurich maintains two communication lines to SWIFT.
• SIC : Société Générale Zurich is connected online to the SIC system. In case of a breakdown of the direct line with SIC, the transfert of payment orders to the clearing system can be made by magnetic tapes for a maximum of 10 days.

These back-up arrangements are regularly tested.

MULTILINGUAL CUSTOMER SERVICE

Société Générale's multi-lingual account officers are responsible for the smooth running of your account. Account officers have an active role in monitoring your account, answering your inquiries, alerting you of any abnormal problems and tracking funds not received.
Clients may choose to have their customer service at any one of our world-wide centers : Tokyo, Paris, New York, Frankfurt, Singapore or Mumbai.

CUSTOMIZED SERVICE AND ATTRACTIVE PRICING

We can provide you with terms and conditions based on your clearing volume.
CHF daily liquidity : our CHF Treasurer is dedicated to the correspondent banking activities in order to offer overdraft facilities and investment of excess balances.

• Maintenance account fees : free of charge.
• We process your cheques and traveller cheques remittance with a unique fee per remittance and no fee at all per cheque.
• Credit interest on current account : presently Société Générale Zurich is ready to allocate a credit interest ( contrary to the policy applied by the majority of Swiss Banks) from the first Swiss Franc. Credit interest will be calculated on a daily basis and posted monthly or quarterly to the account.
• Overdrafts interest rate : overdrafts will be calculated according to the Lombard rate set by the Swiss National Bank. The rate includes a spread which is subject to negotiation. Interest will be capitalised on a daily basis and posted monthly or quarterly.

ADDITIONAL SERVICES

Trade services : Documentary remittances, opening of L/C’s, notification and confirmation, issuing of guaranties, forfaiting, syndication.

For more information, please contact :