What Swiss bills must you pay before December 31st?
The end of the year is just around the corner, and for most people in Switzerland this means that certain invoices are due by December 31st.
Actually, since December 31st falls on a Sunday this year, and January 1st is a public holiday, you should probably aim to schedule all your payments to clear by Friday, December 29th.
These are the bills that are typically due on January 1st, and they include a variety of insurance policies.
Health insurance
If you pay your premiums monthly, then this does not apply to you.
But if you make one payment for the whole year, or split it into two payments that are due on January 1st and June 1st, as some people do, then you should make sure to schedule it for December 29th.
Car insurance
In some countries, motorists pay their vehicle insurance each month.
In Switzerland, it is paid annually and, in most cases, it is due on January 1st.
Supplemental insurance
The two above-mentioned insurances are obligatory, but you may also have taken up additional policies that are renewed annually on January 1st.
One such case is the personal liability insurance that is not mandatory, but most people in Switzerland have it.
Also, if you belong to a group like Touring Club Suisse (TCS) or another motoring organisation, your membership is typically due to be renewed on January 1st as well.
As all these companies typically send their renewal notices, together with a QR-code pay slip, at least a month before the payment is due, it is a good idea to schedule the payment in your online banking or through the banking app as soon as you receive the bill, so you don’t forget to do so at the last minute.
What happens if you neglect to pay your end-of-the-year bills?
It is not unusual that the less organised people who get distracted by all the holiday activities forget to pay their annual bills by the end of December.
If this is your case, you can schedule the payment to leave your account when the banks re-open on January 2nd or 3rd, depending on where you live. That's because January 2nd is a public holiday in Aargau, Bern, Fribourg, Glarus, Jura, Lucerne, Obwalden, Schaffhausen, Thurgau, and Vaud.
Also, bills usually have a ‘grace period’ of 30 days after their due date, which means you have until January 31st to pay them.
What if you are really late?
If you miss the deadline, the company will send you a gentle reminder, telling you that if you don’t pay this time around, the new bill will include interest and administrative fees.
If that goes unpaid as well, the next step is more serious: the company will send you, by registered mail, summons for payment from the debt enforcement office in your canton, giving you 20 days to settle.
If you don't, debt proceedings will be started against you — and you really don’t want to have a debt attached to your name.
If you are a foreigner, a debt can prevent you from obtaining Swiss citizenship.
And regardless of whether you are a foreign or Swiss national, a debt is a stain on your record, which will hinder you from renting an apartment, getting a credit card, mortgage, or another kind of loan.
READ ALSO: What happens if I don't pay my Swiss bills on time?
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Actually, since December 31st falls on a Sunday this year, and January 1st is a public holiday, you should probably aim to schedule all your payments to clear by Friday, December 29th.
These are the bills that are typically due on January 1st, and they include a variety of insurance policies.
Health insurance
If you pay your premiums monthly, then this does not apply to you.
But if you make one payment for the whole year, or split it into two payments that are due on January 1st and June 1st, as some people do, then you should make sure to schedule it for December 29th.
Car insurance
In some countries, motorists pay their vehicle insurance each month.
In Switzerland, it is paid annually and, in most cases, it is due on January 1st.
Supplemental insurance
The two above-mentioned insurances are obligatory, but you may also have taken up additional policies that are renewed annually on January 1st.
One such case is the personal liability insurance that is not mandatory, but most people in Switzerland have it.
Also, if you belong to a group like Touring Club Suisse (TCS) or another motoring organisation, your membership is typically due to be renewed on January 1st as well.
As all these companies typically send their renewal notices, together with a QR-code pay slip, at least a month before the payment is due, it is a good idea to schedule the payment in your online banking or through the banking app as soon as you receive the bill, so you don’t forget to do so at the last minute.
What happens if you neglect to pay your end-of-the-year bills?
It is not unusual that the less organised people who get distracted by all the holiday activities forget to pay their annual bills by the end of December.
If this is your case, you can schedule the payment to leave your account when the banks re-open on January 2nd or 3rd, depending on where you live. That's because January 2nd is a public holiday in Aargau, Bern, Fribourg, Glarus, Jura, Lucerne, Obwalden, Schaffhausen, Thurgau, and Vaud.
Also, bills usually have a ‘grace period’ of 30 days after their due date, which means you have until January 31st to pay them.
What if you are really late?
If you miss the deadline, the company will send you a gentle reminder, telling you that if you don’t pay this time around, the new bill will include interest and administrative fees.
If that goes unpaid as well, the next step is more serious: the company will send you, by registered mail, summons for payment from the debt enforcement office in your canton, giving you 20 days to settle.
If you don't, debt proceedings will be started against you — and you really don’t want to have a debt attached to your name.
If you are a foreigner, a debt can prevent you from obtaining Swiss citizenship.
And regardless of whether you are a foreign or Swiss national, a debt is a stain on your record, which will hinder you from renting an apartment, getting a credit card, mortgage, or another kind of loan.
READ ALSO: What happens if I don't pay my Swiss bills on time?
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