ZEK vs. IKO: what is the difference?

If I want to take out a loan... how are the ZEK and the IKO different?

Kind regards

Hi Chipmunk,

While a number of private credit bureaus operate in Switzerland, only one of these is official in that it was called into being by legislation. This it the Informationsstelle für Konsumkredit / Centre de renseignements sur le crédit à la consommation (IKO).

The IKO functions to collect and provide data as required by the Swiss consumer credit law (KKG/LLC). It does not collect data for credit and loans which are not covered by consumer credit laws. That means that only credit or loans of more than 500 Swiss francs and less than 80,000 francs are recorded. For loans to be recorded by the IKO, loan terms must be higher than 3 months – or 12 months if paid in 4 installments or less. Secured loans are not recorded, nor are payments made in installments. Lenders have an obligation to report the credit behavior of borrowers to the IKO, and data is primarily used for legal purposes.

The Zentralstelle für Kreditinformation / Centrale d’information de crédit (ZEK) is a private credit bureau. Its stakeholders are primarily Swiss banks, car issuers, and other lenders.

The ZEK collects data on all consumer credit and loans, not just those covered by consumer credit law. The purpose of the ZEK is to provide lenders with a broader picture of your creditworthiness than that provided by the IKO. Data is provided voluntarily by lenders. It is primarily used as a reference for lenders and not for legal purposes.

There are other private credit bureaus in Switzerland. You can get an overview in this guide:
Swiss credit scores explained

Best regards

More on this topic:
ZEK Swiss Credit Bureau
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