If you’re a frequent remittance sender, you probably encountered the word ‘SWIFT Code’ during your filling up of remittance form. At first, I also don’t know what it is and why it is important for sending money to your local bank where you are living.
What is SWIFT Code?
When sending money from abroad, almost all banks require the sender to write the SWIFT code of the bank where you will send the money for easier and faster transactions between both banks. SWIFT code is a standard format of business indentifier code (BIC) approved by the International Organization for Standardization (ISO).
It is an exclusive identification code for financial and non-financial organizations and institutions.The meaning of SWIFT is Society for Worldwide Interbank Financial Telecommunication. An 8-letter SWIFT code may refer to the primary office of the bank. SWIFT Standards is the division of SWIFT that is responsible for the registration of bank codes.
The primary usage of the code are transferring money between banks during international wire transfers and exchange of messages between banks. SWIFT code can be found sometimes in the bank statement of account. It is consist of 8 or 11 characters which are divided into:
1st 4 letters: bank or institution code
next 2 letters: country code
last 2 letters: location code
List of SWIFT Code for Philippine Banks
In the Philippines, each bank has its own SWIFT code since it is unique for each bank and no two banks can have the same code. Below you can see the SWIFT code or Bank Identification Code (BIC) of banks in the Philippines. The top 10 banks are in bold letters.
1. ABN AMRO Bank - ABNAPHMM
2. Allied Banking Corporation - ABCMPHMM
3. American Express Bank Philippines - AMEXPHMM
4. Asia United Bank Corporation - AUBKPHMM
5. Australia and New Zealand Bank - ANZBPHM
6. Banco de Oro Universal Bank - BNORPHMM
7. Banco Santander Philippines, Inc. - BSCHPHMM
8. Bangkok Bank Public Company Ltd. - BKKBPHMM
9. Bank of America Philippine Branch - BOFAPH2
10. Bank of China Philippine Branch - BKCHPHMM
11. Bank of Commerce - PABIPHMM
12. Bank of the Philippine Islands - BOPIPHMM
13. Bank of Tokyo Mitsubishi Ltd. - BOTKPHMM
14. BSP Payments Unit - PHCBPHMD
15. BSP Treasury Department - PHCBPHMM
16. Chemical Bank JP Morgan - CHASPHMM
17. China Banking Corporation - CHBKPHMM
18. ChinaTrust Phil Commercial Bank - CTCBPHMM
19. Citibank Cash Department - CITIPHMXPRA
20. Citibank NA - CITIPHMM
21. CitiBank Treasury Unit - CITIPHMXTSU
22. Deutsche Bank AG - DEUTPHMM
23. Development Bank of the Philippines - DBPHPHMM
24. East West Banking Corporation - EWBCPHMM
25. Export and Industry Bank - EAIBPHMM
26. Hong Kong and Shanghai Bank - HSBCPHMM
27. ING Bank NV - INGBPHMM
28. International Commercial Bank of China - ICBCPHMM
29. International Exchange Bank - INXBPHMM
30. Korea Exchange Bank - KOEXPHMM
31. Land Bank of the Philippines - TLBPPHMM
32. Maybank Philippines Incorporated - MBBEPHMM
33. Metropolitan Bank & Trust Company - MBTCPHMM
34. Mizuho Corporate Bank - MHCBPHMM
35. Philippine Bank of Communications - CPHIPHMM
36. Philippine National Bank - PNBMPHMM
37. Philippine Veterans Bank - PHVBPHMM
38. Philtrust Bank - PHTBPHMM
39. Prudential Bank - PILBPHMM
40. Rizal Commercial Banking Corpotation - RCBCPHMM
41. Security Bank and Trust Corporation - SETCPHMM
42. Standard Chartered Bank - SCBLPHMM
43. Union Bank of the Philippines - UBPHPHMM
44. United Coconut Planters Bank - UCPBPHMM
45. United Overseas Bank Philippines - UOVBPHMM
Normally, if you are sending money from abroad, you will be required to write the name of the bank where you will send the money, branch of the bank, account name, account number and the SWIFT code for the recipient bank.
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