When you’re dealing with transactions across borders—sending or receiving funds from family, friends, or clients—the SWIFT code is crucial. It helps the money find its way to the right destination, ensuring a smooth and secure journey. So, whether it’s a money remittance or a wire transfer, having your bank’s SWIFT code is like having a reliable GPS for your global finances. Think of a SWIFT code as your bank’s international passport for money.
What is a SWIFT Code?
Imagine you have a friend in another country, and you want to send them money. Now, banks need a way to identify each other globally to make sure the money gets to the right place. That’s where SWIFT codes come in.
SWIFT, which stands for the Society for Worldwide Interbank Financial Telecommunication, gives each bank a unique code. It’s like a special address for banks. When you want to send money internationally, you include your bank’s SWIFT code along with other details, and it helps guide the money to the correct destination.
So, in short, SWIFT codes are like international postal codes for banks, ensuring your money reaches the right bank in another part of the world.
What is the purpose of the SWIFT Code?
This verification process is commonly facilitated by the utilization of various terms, including Business Identifier Code (BIC), BIC code, SWIFT-BIC, or SWIFT ID.
These designations collectively refer to the unique alphanumeric codes assigned to financial institutions, ensuring the authentication and protection of financial transactions during interbank communications.
SWIFT Code contains eight to 11 characters format:
- Bank Code – Four letters
- Country Code – Two letters
- Location Code – Two letters or two digits
- Branch Code – Last three characters
Bank SWIFT Codes in the Philippines
|Asia United Bank Corporation (AUB)
|Australia and New Zealand Banking Group Limited
|Bank of America, N.A. Manila
|Bank of Commerce
|Bank of the Philippine Islands (BPI)
|BDO Unibank, Inc. (BDO)
|BPI Family Savings Bank
|BPI Globe Banko Inc.
|China Banking Corporation (China Bank)
|China Bank Savings, Inc.
|CIMB Bank Philippines, Inc.
|Citibank, N.A. – Makati Branch
|Citibank, N.A. – Manila Branch
|Citibank, N.A. – Cebu Branch
|Deutsche Bank AG
|Development Bank of the Philippines (DBP)
|Globe Telecom, Inc. (GCash)
|HSBC Savings Bank (Philippines) Inc.
|ING Bank N.V.
|JPMorgan Chase Bank, N.A., Manila Branch
|Land Bank of the Philippines
|Maybank Philippines, Inc.
|Metropolitan Bank and Trust Co. (Metrobank)
|Philippine Bank of Communications (PBCOM)
|Philippine Business Bank
|Philippine National Bank (PNB)
|Philippine Savings Bank (PSBank)
|Philippine Veterans Bank
|Philtrust Bank (Philippine Trust Company)
|Rizal Commercial Banking Corporation (RCBC)
|Robinsons Bank Corporation
|Security Bank Corporation
|Sterling Bank of Asia Inc.
|Tonik Digital Bank, Inc.
|Union Bank of the Philippines