In Switzerland the concept of a "Einzugsermächtigung" exists too, but it's a step or two more than just knowing your IBAN. Basically you do this with your bank

In Switzerland the concept of a "Einzugsermächtigung" exists too, but it's a step or two more than just knowing your IBAN. Basically you do this with your bank and not the other way around with the merchant. Is it common to check all your banking stuff every month to make sure there is nothing fraudulent? I don't see how this is practical