Press room

Payment systems

• What is the National Electronic Clearing System, and how does it work?

  The National Electronic Clearing System (SNCE) is the system used in Spain for the interbank clearing of retail payments.

  Its structure covers the entire country and is based on the electronic exchange of information, which means a large majority of operations can be processed automatically. It has a private communications network in which security is a fundamental aspect.

  The SNCE is used to clear current account cheques, promissory notes, transfers, direct-debit payments (utility bills and others), commercial papers (bills of exchange, etc.) and cheques for fuel and travel payments.

  Members of the SNCE may include banks, savings banks and credit unions established in Spain. There are two modes of participation: direct (settlement banks) and indirect (via a settlement bank).

  The System was created by virtue of Royal Decree 1369/1987, subsequently implemented in various ministerial orders, with Banco de España being responsible for its administration and management, until the recent legal reform (its Regulation and general operating rules have been established in Banco de España circulars).

  At the end of 2004, it was decided that the SNCE would be managed and administered by a privately owned company, and this legal reform was contained in the Law on the General State Budget for 2005. This company, Iberpay (Sociedad Española de Sistemas de Pago, S.A.), was set up in March 2005.

  The Banco de España maintains regulatory functions and also monitors and controls the functioning of the system.

  You can find more information about the “National Electronic Clearing System” in the Payment Systems section.