Updated on March 9, 2023
Clearing number or bank clearing number is used for identifying banks or financial institutions in Switzerland and Liechenstein. It is used along with the bank account number for bank transfers. Clearing number is basically a part of the Swiss Interbank Clearing and EuroSIC system. These can be three or five digit numbers. A store ID is added to the clearing number for identifying specific branches of financial institutions. The first digit of these Clearing numbers reflect the name of the institution. These can be compared to the IFSC codes used by banks in India. IFSC or Indian Financial System Code is the alphanumeric code for identifying unique branches of banks used for online money transfer.