Samsung Elec. Holding GMBH SWIFT/BIC code

SECTDE51 – the SWIFT/BIC code of Samsung Elec. Holding GMBH

The 8-character code SECTDE51 and the full code SECTDE51XXX refer to one and the same institution: Samsung Elec. Holding GMBH. Every bank on the SWIFT network uses these codes to route payments between countries to the correct bank. It comes up mostly when dealing with payments that cross a border and payments in foreign currencies.

Below we go through the practical questions: money coming in from abroad, paying someone in another country and how to check the code before you confirm a payment. Remember that the SWIFT code just identifies the bank, not the account: the account number or IBAN takes care of that.

Where our SWIFT data comes from

The codes here come from public sources. Still, banks merge or change codes and our data may lag behind. The number of codes on this page reflect our own data and not on information from Samsung Elec. Holding GMBH itself.

Use our data as a reference, not as the final word: the recipient’s bank details come first. We are a comparison service for money transfers and not affiliated with Samsung Elec. Holding GMBH. If you notice a mistake, we welcome a message.

Tracking a transfer to or from Samsung Elec. Holding GMBH

How fast a payment arrives at Samsung Elec. Holding GMBH is determined by a few things: which currency you send, how many intermediary banks are involved, cut-off times and time zones. Weekends and public holidays in either country add extra days to the journey. Compliance checks on larger or unusual payments may also cause a delay, regardless of the details.

A growing number of banks are connected to SWIFT gpi for faster and traceable payments. Every payment carries a unique reference, the UETR that banks can use to trace it. Money transfer services usually provide a status online showing where the money is.

The bank that sent the money is able to start an official trace. Request from the sender the payment receipt including the reference.

Sending money abroad from Samsung Elec. Holding GMBH

The price of an international transfer has more than one component, and the transfer fee is only the most visible one. There is the transfer fee, sometimes fees charged by intermediary banks in between and, above all, the margin on the exchange rate when the money is converted.

That exchange rate margin tends to be the largest cost because it is hidden in the rate. Compare the rate you are offered against the mid-market rate; the gap is what conversion costs you.

Specialised transfer providers often use rates closer to the mid-market rate. On GoldexPay you can compare the amount that arrives across services, which makes the cheapest option easy to spot. You can still use your account at Samsung Elec. Holding GMBH, while a cheaper service handles the conversion.

Euro transfers to Samsung Elec. Holding GMBH: is a BIC needed?

Because Germany is part of SEPA, a euro transfer into Samsung Elec. Holding GMBH from another SEPA country usually only needs the IBAN. Many banks no longer ask for the BIC for these payments or fill it in for you.

The BIC still matter for payments in other currencies, and for transfers from outside SEPA. If a payment form asks for the BIC regardless, adding SECTDE51 does no harm.

Instant payments in euros have become increasingly available across SEPA. Fees for SEPA payments are generally low, as long as no currency conversion is involved.

Protect yourself against fake payment requests

Be wary when a contact suddenly asks you to send money to a different account abroad. The fact that SECTDE51 exists is no guarantee that the account is genuine; criminals use the codes of real banks too.

Do not rely on a phone number in the same message that contains the new account. Be suspicious of urgent requests, unusual wording or a sender address that is slightly off. If money was sent to the wrong account, contact your bank immediately: the sooner they act, the better the chance of a recall.

Recipients are targeted too: one known trick is a buyer who pays too much and then sends a request to refund the difference to another account. Wait until the money has really arrived.

Before you send: check the Samsung Elec. Holding GMBH code

Ask the recipient to copy their account details directly from their online banking. Compare it against SECTDE51 on this page; if they differ, ask before you pay.

If the code is wrong, the payment may be delayed, be returned or end up costing more, and tracing it can take weeks. Remember the IBAN: an error there can be more difficult to undo than a wrong BIC.

A validity check in your banking app only tells you that the code is valid – not that it belongs to the person you mean to pay. If your bank offers it, a payee name check before sending adds extra certainty. For a first payment, some people start with a small test amount.

Receiving money from abroad at Samsung Elec. Holding GMBH

For an international payment at Samsung Elec. Holding GMBH, the person paying you needs not just the BIC. Give them the account holder’s name, your account number or IBAN, SWIFT code SECTDE51XXX and your address.

The sender’s bank might request the address of your bank, in which case the Schwalbach head office is the usual answer. A mistake in the IBAN can be harder to fix than you might think.

Money from abroad will not always land for the full amount. Correspondent banks can take a fee, and if the currency changes, a markup on the rate applies. Make clear with the sender who pays which costs, especially for larger amounts.

Head office or branch code at Samsung Elec. Holding GMBH?

Having 4 codes in 2 cities, Samsung Elec. Holding GMBH belongs to the banks that use individual codes for branches and departments. The head office code remains SECTDE51XXX.

In most cases there is no need to look up a branch: transfers sent to SECTDE51XXX are routed within Samsung Elec. Holding GMBH without problems. A branch code only makes sense when the account holder specifically asks for it.

Not sure which code to use? Check with the recipient, or look at a recent statement from Samsung Elec. Holding GMBH. Branch codes can change when banks reorganise, so do not rely on old paperwork.

Euro (EUR) and conversion costs

Most accounts at Samsung Elec. Holding GMBH are typically held in EUR, the local currency. When you pay another currency, the amount gets converted at some point: by your bank, an intermediary or Samsung Elec. Holding GMBH itself. Every conversion costs the amount.

Where the conversion happens affects how much arrives. Sending the money directly in EUR often prevents an extra conversion by Samsung Elec. Holding GMBH, provided the rate you get is fair.

The rate for EUR fluctuates constantly, so the amount you see is usually only valid for a short time. On larger amounts, a small gap in the rate can be worth more than the fee.

What the XXX in SECTDE51XXX means

Each SWIFT/BIC code starts with an 8-character core: a four-letter bank code, two letters for the country and two characters for the location. The result is SECTDE51, the short form of the code.

Many banks and apps work with both lengths. If yours asks for eleven characters, enter SECTDE51XXX; if it wants eight, use SECTDE51.

Leave out spaces when you type SECTDE51 or SECTDE51XXX. A wrong character may route the money to another bank, so copy it carefully.