Swiss QR-bill and foreign clients: invoicing in euros and dollars from Switzerland

A Basel engineering firm invoices Swiss clients with a QR-bill: they scan the code in their banking app and the payment fills itself. It sends a German client the same QR-bill in euros. The client's bank in Munich does not read it, so the accounts team types the IBAN by hand. For an American client, the QR-bill cannot be issued at all, because the standard has no dollar version.

What the QR-bill does and does not do

The QR-bill replaced orange and red payment slips in 2022. It puts the creditor's IBAN, amount, currency and a structured reference into a Swiss QR code. Swiss banking apps scan it and fill the payment.

It supports two currencies: Swiss francs and euros. Outside Switzerland, most banks ignore the code, and the client pays from the printed details.

Invoicing EU clients in euros

Switzerland takes part in SEPA, so an EU client can pay a euro amount to a Swiss IBAN by SEPA credit, provided the account accepts it. Put the IBAN and BIC clearly on the invoice and a reference the client can copy.

The conversion problem comes after. If the IBAN belongs to a franc account, the bank converts the euros on arrival at its own rate. A Swiss company that pays German suppliers or staff in euros then converts back, losing a margin twice.

Invoicing US clients in dollars

American clients expect dollar invoices. Asked to wire dollars to a Swiss bank, they send an international wire, which can lose intermediary fees and is converted on arrival unless you hold a dollar account. US account details in your company's name let them pay by ACH or domestic wire instead.

VAT on exports

For most services to businesses outside Switzerland, the place of supply is abroad and no Swiss VAT is charged. The invoice states why. Goods exports are zero-rated with customs export evidence.

Paying into Switzerland: the local rail

Source: SIX: instant payments. Checked when this guide was last updated; the scheme's own page has the current figures.

Where Rivet fits

A Rivet business account gives a Swiss company US account details on every plan and, from the Growth plan, euro details with an IBAN and sterling details, all in its own name. On the Scale plan, balances cover 30 currencies, including francs. Payments are matched to invoices, and conversions happen when you choose at a rate shown before you confirm. Rivet is not a bank; regulated partner institutions hold the funds.

Keep issuing QR-bills to Swiss clients. Use local details for everyone else.