Samsung (China) Investment Co., LTD. SWIFT/BIC code

SECTCNB1 – the SWIFT/BIC code of Samsung (China) Investment Co., LTD.

SECTCNB1 and SECTCNB1XXX are the short and the long form of the same bank identifier, and both lead to Samsung (China) Investment Co., LTD. in Beijing. A BIC does one job: it ensures that an international payment ends up at the right bank. You will need it mainly for transfers between countries or a currency.

On this page you will find what the code is put together, when you need it and which other details you need for a transfer to or from Samsung (China) Investment Co., LTD.. The SWIFT code alone cannot identify a personal account; for that you need the account number or IBAN .

Is SECTCNB1 still correct? How to check

Ask the recipient to copy their bank details directly from their banking app. Check that code with SECTCNB1 on this page; if they differ, ask before you pay.

Errors in the BIC tend to be costly rather than fatal – usually the money comes back, minus fees and time lost. Remember the IBAN: an error there is more difficult to correct than a wrong BIC.

An automatic check in your banking app merely confirms that the IBAN exists – not that it belongs to the person you mean to pay. More and more banks compare the payee name with the account before you confirm. Sending a small amount first can be a sensible step for a large first payment despite the extra fee.

Getting paid from abroad into a Samsung (China) Investment Co., LTD. account

A sender in another country needs a few details from you. The basics are: the account holder’s name, account number or IBAN, SECTCNB1XXX and often your postal address.

You can add the bank name and Beijing as well. Double-check the details before you send them, because the sender’s bank usually copies them as is.

The amount you receive is often less than what was sent. Correspondent banks can take a fee, Samsung (China) Investment Co., LTD. may charge for incoming payments, and if the currency changes, an exchange rate margin applies. For business payments, it is common to state how the fees are split, so that nobody is left short.

SECTCNB1 or SECTCNB1XXX – which one to use?

The layout of a BIC never changes: four characters for the institution, a two-letter country code and a two-character location code, sometimes followed by a branch code. The result is SECTCNB1, the short form of the code.

The full version adds a three-character extension for a branch or department. When those three characters are XXX, they simply mean the head office, which is why SECTCNB1XXX and SECTCNB1 lead to the same place.

Enter the code in one piece, in upper case and without spaces. Copying the code beats retyping it.

Changed bank details? Be careful

Fraudsters regularly send fake invoices containing new bank details, sometimes in an email that looks completely genuine. That SECTCNB1 is a real code does not mean that the account is legitimate; criminals use the codes of real banks too.

Do not rely on contact details in the same message that announces the change. Urgency and requests to keep it quiet are red flags. If a payment was sent to the wrong account, call your bank right away – speed improves the chance of getting it back.

Scams can also work the other way. Someone claims to have sent more than agreed and asks you to return the extra to a new account. Do not act before the money has really arrived and check with Samsung (China) Investment Co., LTD. if anything seems off.

The Chinese Yuan and what conversion costs you

The national currency in China is the Chinese Yuan (CNY). A payment in a foreign currency will be exchanged into CNY on its way to Samsung (China) Investment Co., LTD.. Every conversion costs the amount, even when no fee is shown.

Who converts the payment makes a difference, because each party uses its own rate. Transferring the money already in CNY often avoids an extra conversion by Samsung (China) Investment Co., LTD., provided the rate you get is fair.

The rate for CNY changes throughout the day and quotes are often valid only for a short time. If you pay regularly, a slightly better rate add up over time.

About this information

The codes here come from public sources that we update regularly. Institutions reorganise, change names and retire codes – a directory can be a step behind. Figures such as the number of codes are from our directory and may differ from what Samsung (China) Investment Co., LTD. publishes.

See our directory on this page as a helpful check, and let the details from the recipient or Samsung (China) Investment Co., LTD. have the final say. GoldexPay is not affiliated with Samsung (China) Investment Co., LTD., we only compare transfer services. Spotted outdated information? Let us know through the contact page.

How long does an international transfer to Samsung (China) Investment Co., LTD. take?

How quickly a transfer arrives at Samsung (China) Investment Co., LTD. is determined by a few things: which currency you send, the number of banks in between, daily processing deadlines and time zones. Transfers sent after the cut-off time or just before a weekend or public holiday often go out a business day later. Occasionally a bank asks what the payment is for before releasing it.

Many banks use SWIFT gpi, which lets them follow a payment from bank to bank. Each gpi transfer carries a unique reference, the UETR, which your bank can use to see where the money is. Specialist transfer services usually provide tracking online showing how far the money has got.

A delayed transfer is investigated from the sending side, using the payment confirmation. On the receiving end, you can check your statements for a partial amount.

What a transfer from Samsung (China) Investment Co., LTD. abroad really costs

A bank transfer abroad costs rather more than the listed fee. You pay the fee for the transfer itself, sometimes fees charged by intermediary banks along the way and, most importantly, the exchange rate markup when the money is converted.

Most of the cost usually sits in the exchange rate, rather than in the fee: many banks convert at a rate that includes a margin. An easy check: put the bank’s rate against the mid-market rate and look at the difference.

For many currency pairs, a specialist provider is cheaper than a traditional bank transfer – mostly thanks to the rate. Before your next transfer, it is worth comparing the total cost on GoldexPay instead of going straight to your bank. Choosing a specialist does not require leaving Samsung (China) Investment Co., LTD..

Which of the 33 codes of Samsung (China) Investment Co., LTD. do you need?

Having 33 codes in 13 cities, Samsung (China) Investment Co., LTD. belongs to the banks that register separate codes for branches. The head office code is SECTCNB1XXX.

For most incoming transfers, the head office code SECTCNB1XXX works fine. When you receive a branch code, use it as it is instead of swapping it for the head office code.

Unsure which code to use? Check with the recipient, or look at a recent statement from Samsung (China) Investment Co., LTD.. Branch codes are more prone to be retired than the head office code when a bank merges or closes offices.