The SBV Electronic/paper clearing systems were formulated prior IBPS to accommodate payment requirements of low value transactions in 63 provinces and cities nationwide. The system members are credit institutions which open their accounts to make clearing transactions at the SBV municipal branches.

The interbank clearing system serving various credit institutions in the same provinces or cities is called intra-provincial clearing system. This payment system processes the electronic and the paper clearing transactions.

The paper clearing system was put in operation before the IBPS formulation. For a long period, the paper clearing system operated in parallel with electronic clearing system. With the application of information technology and computers, the paper clearing was replaced by the electronic clearing system. On May 5, 2014, the last paper clearing system located in the Can Tho stopped its operations.

The SBV's electronic clearing system started to operate in May 2002. The system transfers payment instructions to receiving banks after completing clearing settlement session. There are 2 – 3 clearing sessions daily depending on the location and the number of payment instructions.