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 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 cheques and commercial paper on current accounts, transfers, direct debits (bills for services and others), trade bills (bills of exchange, etc.) and cheques for paying fuel and travel expenses.

  Banks, savings banks and credit cooperatives set up in Spain may join the SNCE . There are two ways of doing this: directly (settlement entities) and indirectly (via a settlement entity).

  The System was created by Royal Decree 1369/1987 and subsequently developed by various ministerial orders, with the Banco de España having been responsible for administering and managing it up until the most recent legal reform (its regulations and general operating conditions were established by 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.

  In the Payment Systems section you can find more information about the "National Electronic Clearing System" .