Bankgirot has specific participant requirements for the settlement and clearing systems that, institute wishing to gain access to, must fulfill.
BiR Settlement Service and Bankgirot's Clearing and Settlement Service are approved by Finansinspektionen (the Swedish Financial Supervisory Authority) and registered with the EU Commission in accordance with the Swedish Act (1999:1309) on Systems for Settlement of Obligations on the Financial Market.
All systems have special participant requirements for the banks that wish to access them. The participant requirements are based on current legal requirements.
This means, for example, that:
- Regarding access to the payment systems, Bankgirot applies a principle of open access, which means any party that meets the requirements set by law and Bankgirot is given the right to participate.
- Access to the payment systems is also neutral, which means that Bankgirot's rules are applied uniformly to all participants in the payment systems.
- Regarding the Bankgiro System and Payments in real time, the participant requirements are also based on the Swedish law on payment services, according to which such services must be objective, non-discriminatory and proportional.
- Bankgirot ensures compliance with the security requirements associated with such operations and has suitable rules for how different areas of the business are run.