The Payments System controlled by the Central Bank deals with payment instruments such as domestic credit transfers, the direct debits of the enlarged Public Administration sector as well as the national cheques, takings and payments of the State Treasury, the takings of the State Tax department within the scope of the daily documents exchange service.
Interbank communication is guaranteed through use of the sammarinese Interbank network (RIS), to which all the banks subscribe. RIS is a telematic network guaranteed by special security systems that conform to suitable certification techniques. It allows electronic data to be exchanged amongst its users. This data exchange takes place in compliance with adequate standards of security, confidentiality, integrity, authenticity, timeliness, reliability and efficiency.
The payment instruments are controlled in specific interbank accounts in accordance with the provisions established by the current laws. The sammarinese banks keep specific accounts centralized with the Central Bank so as to entertain interbank relations.
The sammarinese banking system uses the IBAN (International Banking Account Number) standard and all sammarines banks have their own BIC (Bank Identifier Code) assigned by Swift (Society for Worldwide Interbank Financial Telecommunication).