Samsung Electronics Austria GMBH SWIFT/BIC code

SECTATW1 – the SWIFT/BIC code of Samsung Electronics Austria GMBH

SECTATW1 and SECTATW1XXX are two spellings of the same SWIFT/BIC code, and both point to Samsung Electronics Austria GMBH in Vienna. Every bank on the SWIFT network uses BIC codes to direct payments between countries to the correct bank. In practice you mostly come across it on international invoices, in payment forms and in the bank details of Samsung Electronics Austria GMBH customers.

On this page you can read what the code means, when it matters and what else a transfer to or from Samsung Electronics Austria GMBH requires. The SWIFT code alone cannot identify a personal account; for that you need the account number or IBAN .

International transfers from Samsung Electronics Austria GMBH: the real cost

What you pay for a payment abroad is made up of more than one component – not just the fee on your screen. On top of a fixed fee, correspondent or intermediary banks can deduct a fee, and when currencies are converted the bank usually applies a rate below the actual market rate.

That exchange rate margin is often the biggest cost, and it is easy to miss. Compare their rate against the mid-market rate – the rate you find on financial news sites; the gap is what conversion costs you.

Specialised transfer providers frequently use a rate near the mid-market rate. On GoldexPay we compare the amount that arrives with different providers, which makes the cheapest option easy to spot. You can still keep your account at Samsung Electronics Austria GMBH; only the conversion and sending happen elsewhere.

Transfer times and tracking a payment to Samsung Electronics Austria GMBH

A SWIFT payment typically takes anywhere from one to several business days. Weekends and public holidays in the sending or receiving country add a day or more to the journey. Extra checks on larger or unusual payments may also add some delay.

When a payment takes longer than expected, ask your bank about the status. Specialist transfer services usually provide tracking online so you can see where the payment has got.

A missing payment is traced by the sending bank on the basis of the transfer details. Ask the sender for a copy of the payment confirmation with the date and reference – it helps your own bank look for the money.

SECTATW1 or SECTATW1XXX – which one to use?

A BIC is made up of fixed blocks: the first four letters stand for the bank, the next two give the country and the two after that indicate the location. Combined, those parts form SECTATW1.

The full version adds a three-character extension that identify a branch or department. If the last three are XXX, they simply mean the head office, so SECTATW1XXX and SECTATW1 are interchangeable.

As a rule the code is typed in capitals, without spaces or dashes. A single character can send the money to another bank, so copy it carefully.

Samsung Electronics Austria GMBH: head office code versus branch codes

Having 2 codes, Samsung Electronics Austria GMBH belongs to the banks that use individual codes for branches and departments. The main code is SECTATW1XXX.

In most cases there is no need to pick a branch: transfers addressed to SECTATW1XXX reach Samsung Electronics Austria GMBH correctly. If you have been given a branch code, use it as it is instead of replacing it for the head office code.

When in doubt, check with the recipient which code their bank gave them. Branch codes are sometimes changed or retired over time, so do not rely on old paperwork.

SEPA payments and the Samsung Electronics Austria GMBH BIC

Since Austria is part of SEPA, a euro payment into Samsung Electronics Austria GMBH from another SEPA country normally requires just the IBAN. Most banking apps do not require the BIC for these payments.

You still need SECTATW1XXX when sending non-euro payments or money from outside the SEPA area. If your banking app asks for the BIC anyway, adding SECTATW1 is fine.

SEPA transfers normally land within one business day; instant payments are faster if both banks offer them. As long as no currency is converted, a SEPA transfer is inexpensive; costs rise once a conversion is involved.

Paying into Samsung Electronics Austria GMBH in EUR

The local currency in Austria is the Euro (EUR). Money sent in a different currency is exchanged into EUR on its way to Samsung Electronics Austria GMBH – and the bank that does it picks the rate. Every conversion costs the amount – usually through the rate rather than a fee.

Which bank converts the payment makes a difference. Check what EUR arrives via different services; the difference between options can be larger than you expect.

Rates for EUR change all the time, and some providers let you lock in a rate. For regular payments, a slightly better rate make a real difference over a year.

How up to date is this code?

We gather SWIFT/BIC codes from publicly available data and check our list from time to time. Banks merge, change names and retire codes – a directory can be a step behind. The figures we show reflect what is in our directory.

Before any payment that matters, always check the code with the recipient’s bank or the recipient. We are an independent comparison service for money transfers and not part of Samsung Electronics Austria GMBH. Spotted outdated information? Let us know via our contact form so we can correct it.

Watch out for payment fraud

One of the most common tricks goes like this: you receive a request claiming that a supplier has a new bank account and asking you to pay there from now on. A valid SWIFT code says nothing about who owns the account: scammers use real codes of real banks.

Verify changed bank details through a different channel, such as a phone number you already know, not by replying to the message. Urgency or secrecy tend to be warning signs. Already paid? Call the bank you paid from straight away and have them start a recall; also report it to the police.

People receiving money are targeted too: a classic trick is a buyer who pays too much followed by a request to refund the difference to another account. A screenshot of a transfer is no proof; only your own account shows what has arrived.

Incoming international payments to Samsung Electronics Austria GMBH

Someone abroad who wants to pay you needs several details about your account – incomplete details often cause delays. The basics are: the account holder’s name, IBAN or account number, SECTATW1XXX and in many cases your home address.

You can include the bank name and Vienna too, since some forms ask for it. A typo in your account number is harder to fix than it looks; copy them from your banking app rather than typing.

What lands in your account is often lower than what was sent. Correspondent banks can take a fee and your own bank may charge for processing, and when currencies differ, an exchange rate margin applies. For business payments, it is common to agree how the fees are split, so that nobody is left short.

Is SECTATW1 still correct? How to check

The best place to find the correct BIC is a document from the bank itself. If the code you have differs from SECTATW1 or SECTATW1XXX, do not guess – contact the recipient or Samsung Electronics Austria GMBH.

An incorrect BIC may lead to delays, a returned payment or additional charges. A mistake in the account number can be a bigger problem because it can reach the wrong person.

A validity check by your bank only confirms that the IBAN is valid, not that it is the right account. Some banks now compare the payee name with the account before you confirm. For a first payment, some people start with a small amount first before sending the rest.