Why changing accounts requires rigorous planning
For many Swiss SMEs and freelancers, the business bank account is the operational heart of the business: salaries, suppliers, taxes, insurance premiums, and customer receipts all flow through it. Changing banks — for better terms, digitalisation, a bank merger, or group requirements — may seem like an administrative task, but it carries concrete risks if tackled without a structured approach.
In Switzerland, moving to a new account involves not only the IBAN, but often also the QR-IBAN for QR-invoice billing, standing orders, LSV/BDD direct debits, e-banking linked to accounting software, and communications to customers, suppliers, and authorities. A timing error can lead to rejected payments, unscannable invoices, or temporary accounting imbalances.
This guide explains how to organise the transition while maintaining payment continuity and consistent accounting, with up-to-date references for 2026 and established practices for Swiss SMEs.
When it makes sense to change banks and what to evaluate first
Before starting the migration, it is worth clarifying objectives and constraints. The most common reasons and operational implications are summarised below:
Economic and operational reasons
- Lower account maintenance fees and transfer charges
- Better terms on foreign exchange or business cards
- Integration with accounting software, ERP, or payment platforms
- Closure or merger of the current bank
- Multi-account requirements for branches or separate activities
Points to verify in advance
- Availability of a QR-IBAN for issuing compliant QR invoices
- Compatibility of the new e-banking with CAMT.053/054 and automatic import
- Account opening timelines and any guarantees required
- Period of coexistence for both accounts (usually 2–3 months)
- Impact on contracts that reference the IBAN (leasing, financing, POS)
Changing banks does not normally require an amendment to the Commercial Register, unless the IBAN is mentioned in the articles of association or in public resolutions. However, promptly updating customers, suppliers, and tax offices is essential to avoid transfers to a closing account.
QR-IBAN: the critical point for invoicing and collections
Since 2020, the QR invoice has been the Swiss standard for the payment section of invoices in Switzerland and Liechtenstein. Unlike a standard IBAN, which uses the regular banking IID, the QR-IBAN uses a reserved QR-IID (30000–31999) and enables automatic crediting via the QR reference (QRR). With a standard IBAN, the Creditor Reference (SCOR, ISO 11649) or no structured reference is used.
When a new business account is opened, the bank assigns a standard IBAN and, on request, a linked QR-IBAN. It is not possible to "transfer" a QR-IBAN from one bank to another: each institution issues its own numbers. This means that all invoices in circulation with the old QR-IBAN remain technically valid as long as the previous account still accepts credits, but new invoices must show the new QR-IBAN.
| Element | Standard IBAN | QR-IBAN |
|---|---|---|
| Primary use | Transfers, standing orders, salaries; QR invoice with SCOR or no reference | QR invoice with QRR reference |
| Typical IID | Standard banking IID (outside the 30000–31999 range) | QR-IID 30000–31999 (assigned by the bank) |
| Transferability | New number with every bank change | New QR-IBAN required; QRRs generated by software |
| Software update | Bank details in company master data | Invoice template, ERP, e-banking platform |
| Transition period | Both accounts active in parallel | Issue new invoices only with the new QR-IBAN |
Verify that your invoicing or accounting software — such as Accountex — supports generating QR invoices with the new QR-IBAN and that QRR references remain unique for each invoice issued. An incorrect QR-IBAN or a duplicate reference leads to rejections by the payer's bank or credits that cannot be reconciled.
Payment continuity: outgoing and incoming payments without interruption
The most delicate phase is ensuring that no payment — outgoing or incoming — is lost during the switch. A phased approach reduces the risks:
Phase 1 — Inventory (2–4 weeks before)
- List all standing orders: rent, leasing, insurance, SaaS subscriptions
- Map active LSV/BDD direct debits (suppliers, telecom, energy)
- Identify direct debit mandates issued to customers
- Check POS, card terminal, and online payment gateway configurations
- Review IBANs stated in financing contracts and bank guarantees
Phase 2 — Parallel activation (day zero)
- Open the new account and activate e-banking with dual signature if required
- Transfer operating liquidity, keeping a minimum balance on the old account
- Recreate standing orders on the new IBAN with staggered execution dates
- Inform customers in writing: new IBAN, QR-IBAN, and effective date
- Update invoice templates, email signatures, and website with the new bank details
Phase 3 — Controlled closure (after 60–90 days)
- Monitor remaining credits on the previous account and redirect payers
- Revoke LSV/BDD mandates on the closed account and confirm active ones on the new account
- Formally close the account only when the balance and pending transactions are zero
- Retain final bank statements for ten years from the end of the financial year (Art. 958f CO)
For salaries, coordinate with your payroll adviser or payroll department: payroll files (ISO 20022 pain.001) must specify the new business IBAN for debiting, and if you change banks for employee transfers, verify that individual accounts remain correct. Similarly, OASI/AI/IC, occupational pension (LPP), and accident insurance (LAA) payments must be routed to the new account to avoid reminders from the compensation office or pension fund.
Accounting transition: dual accounts, reconciliation, and closure
From an accounting perspective, changing banks does not alter the chart of accounts, but temporarily introduces two active bank accounts. Accounting must accurately reflect internal transfers between the old and new accounts, avoiding recording them as revenue or expenses.
In software such as Accountex, the recommended procedure is to open a new sub-account "Bank [new institution name]" alongside the existing one. Liquidity transfers are recorded with transfer entries (Debit: New bank / Credit: Old bank). Bank reconciliations should be performed separately for each account until the previous one is definitively closed.
| Transaction | Accounting entry | Note |
|---|---|---|
| Initial balance transfer | Transfer between bank accounts | No effect on P&L |
| Receipt on old account | Debit Old bank / Credit Receivables | Reconcile and transfer liquidity |
| Payment from new account | Debit Expenses or Liabilities / Credit New bank | CAMT import from new e-banking |
| Account closure fees | Debit Bank charges / Credit Old bank | Deductible if arising from business activity |
| Close old account | Zero balance; account deactivated | Retain final bank statements |
If the migration straddles the financial year or a VAT period, pay attention to the closing balance of the previous account: it must match the bank statement as at 31 December (or the financial year-end date). If migrating mid-VAT quarter, verify that all transactions are allocated to the correct period for the VAT return.
Notifications to authorities, partners, and connected software
Beyond customers and suppliers, several bodies and platforms must receive the new IBAN. Missing even one can lead to failed payments or administrative delays:
FTA — Value added tax (VAT)
Update bank details in the FTA portal (myAFC) for VAT payments and refunds, and check any active direct debits.
FTA — Withholding tax and instalment payments
Notify the new account for withholding tax refunds and federal, cantonal, and municipal instalment tax payments.
OASI compensation office and pension funds
Inform the compensation office and the occupational pension fund (LPP) for debiting social security and pension contributions.
LAA/LAINF insurance and critical suppliers
Update payment mandates for mandatory insurance premiums and contracts with strategic suppliers.
Accounting and invoicing software
Configure the new IBAN, QR-IBAN, and e-banking connection in Accountex or your ERP, and test a sample import.
Auditor and fiduciary
Inform your auditor or fiduciary firm to align reconciliations, audit trail, and account closure documentation.
Operational checklist for the migration
Use this checklist as the basis for a structured migration plan. Adapt it to the complexity of your business:
| Action | Typical owner | Suggested timing |
|---|---|---|
| Open new account and request QR-IBAN | Owner / administration | T − 4 weeks |
| Inventory standing orders and LSV/BDD | Accounting | T − 3 weeks |
| Configure new account in accounting software | Accounting / fiduciary | T − 2 weeks |
| Update QR invoice template | Administration | T − 1 week |
| Notify customers and suppliers of new IBAN | Sales / administration | Day zero |
| Activate standing orders on new account | Accounting | Day zero + 1 |
| Notify FTA (VAT, instalment tax) and OASI | Fiduciary / owner | Within T + 1 week |
| Reconcile both accounts weekly | Accounting | T + 1 → T + 12 weeks |
| Close previous account | Owner / bank | After T + 8–12 weeks |
Common mistakes and how to avoid them
Closing the old account too soon
Customers accustomed to the old IBAN may take weeks to update their systems. Keep the previous account active with sufficient balance for at least two billing cycles.
Confusing IBAN and QR-IBAN
Entering the standard IBAN instead of the QR-IBAN on invoices with a QRR reference makes the document non-compliant. Always verify with a scan test before bulk sending.
Recording internal transfers as expenses
Moving liquidity between the old and new account is not a deductible expense. Always use transfer entries so as not to distort the income statement.
Forgetting active LSV mandates
Direct debits on a closed account are rejected with unpaid item fees. Recreate mandates with the new bank and confirm them in writing with creditors.
How Accountex simplifies the bank transition
A well-documented bank migration in accounting reduces the risk of year-end errors and simplifies the work of your fiduciary or auditor. Accountex supports multi-bank account management, automatic import of bank statements in CAMT format, and issuing QR invoices with a QR-IBAN compliant with the Swiss standard.
During the transition phase, you can reconcile each account separately, track inter-bank transfer entries, and verify that every QR receipt matches the QRR reference of the invoice issued. At the end, deactivate the previous account while keeping the full history for audit and document retention, in line with the requirements of the Code of Obligations and Swiss accounting rules.
Planning an account change with the same care as an investment or a new supply contract means protecting liquidity, your reputation with customers and suppliers, and the reliability of accounting data — a time investment that pays off from the first reconciliation with no discrepancies.