The Swiss COR1 Direct Debit (CH-DD) is the standard used by Postfinance for free direct debit orders.
To set up a direct debit order, the bank account holder must complete and sign a debit authorization form which grants a specified third party the right to debit money directly from their account on an ongoing basis. Once the direct debit has been set up, transactions are handled by the third party and the bank, with no need for further involvement on the part of the account holder.
The absence of recurring involvement makes CH-DD a practical solution for paying recurring bills. This is especially true for variable bills such as phone, power and credit card bills because the biller can debit the exact amount owed each billing period. The prerequisite is that companies offer CH-DD as a payment method.
PostFinance offers an additional direct debit service, the Swiss B2B Direct Debit, to business account holders.
With the exception of PostFinance, all other Swiss banks use the LSV+ standard for private account holders. This system will no longer be offered after September 30, 2028. Postfinance has communicated that it will continue to offer COR1 Direct Debit in the future.
More on this topic:
Direct debits in Switzerland FAQ
Deal of the Day 
