Samsung Electronics (Hong Kong) Co., LTD. SWIFT/BIC code

What SECTHKH1 means for a payment to Samsung Electronics (Hong Kong) Co., LTD.

If an invoice shows SECTHKH1 or SECTHKH1XXX, you are looking at the identical identifier for Samsung Electronics (Hong Kong) Co., LTD. in Hong Kong SAR China. A SWIFT code shows the banks handling a payment which institution is meant to get the money, much like a postcode for banks. In practice you usually come across the code on invoices from abroad, in payment forms and in the bank details that Samsung Electronics (Hong Kong) Co., LTD. provides.

On this page we explain what the code means, when you need it and which other details you need for a transfer to or from Samsung Electronics (Hong Kong) Co., LTD.. Remember that the SWIFT code just identifies the bank, not the account: the IBAN or account number takes care of that.

Samsung Electronics (Hong Kong) Co., LTD.: head office code versus branch codes

With 2 codes in 1 cities, Samsung Electronics (Hong Kong) Co., LTD. belongs to the banks that register individual codes for parts of the organisation. The head office code is SECTHKH1XXX.

For the vast majority of payments to a private or business account, the head office code SECTHKH1XXX works fine. Only use a branch code when your contact gives you that exact code.

The safest route is to copy the code straight from the account holder’s statement. Branch codes can change when banks reorganise, so a code from an old document is not always valid.

Watch out for payment fraud

One of the most common tricks works like this: you receive a request claiming that a supplier now has new bank details and that the next payment should go there. A correct SWIFT code says nothing about whether the request is genuine – scammers simply use real codes.

Check new bank details via a different channel, such as a phone number you already know. Pressure and requests to keep it quiet tend to be red flags – a real supplier can wait a day. When money has already gone to a fraudster, contact your bank immediately – speed improves the chance of getting it back.

Scams can also target the receiver. Someone claims to have sent more than agreed and asks you to refund the extra to a new account. A screenshot of a transfer is no proof; only your own account shows what has arrived.

The Hong Kong Dollar and what conversion costs you

Most accounts at Samsung Electronics (Hong Kong) Co., LTD. are typically held in HKD, the national currency. A payment in a foreign currency is converted into HKD before it reaches the account. There is rarely a separate charge for that conversion; it is built into the rate.

Who converts the money makes a difference: every bank has its own margin. Often it is cheaper if you send HKD directly via a provider with a good rate, so that the receiving bank does not need to convert again.

Rates for HKD change during the day. For recurring payments, a slightly better rate make a real difference over a year.

Verifying the SWIFT code of Samsung Electronics (Hong Kong) Co., LTD.

The safest source for the BIC is the bank details provided by the recipient: an invoice, a bank statement or their online banking. Compare it with SECTHKH1 here and ask if anything does not match.

With a wrong code, the transfer might be delayed, be returned or cost extra, and tracing it can take weeks. An error in the IBAN or account number is more serious, so check that just as carefully.

A validity check in your banking app merely confirms that the code is valid. If your bank offers it, a payee name check before sending gives extra certainty. When you pay someone new, many people send a small amount first before sending the rest.

International transfers from Samsung Electronics (Hong Kong) Co., LTD.: the real cost

If you transfer money to another country through Samsung Electronics (Hong Kong) Co., LTD., the visible fee is only part of the cost. Besides a fixed fee, correspondent or intermediary banks can deduct a fee, and when currencies are converted, the bank often uses a rate that is less favourable than the real market rate.

The markup on the rate tends to be the biggest item because it is hidden in the rate. Check their rate against the mid-market rate, the midpoint between buy and sell rates you see on financial sites. The difference is your real conversion cost.

For a lot of currency pairs, a transfer service turns out to be cheaper than a bank. On GoldexPay we compare the amount that arrives with different services. You can still keep your account at Samsung Electronics (Hong Kong) Co., LTD. to fund the transfer, while a cheaper service handles the conversion.

About this information

The codes on this page come from publicly available data that we update regularly. Even so, banks merge, rename themselves or change codes and our data may lag behind. Figures such as the number of codes are from our own dataset and may differ from what Samsung Electronics (Hong Kong) Co., LTD. publishes.

Treat the information here as a helpful check. GoldexPay is an independent comparison service and not part of Samsung Electronics (Hong Kong) Co., LTD.. Found outdated information? Tell us via our contact form.

Tracking a transfer to or from Samsung Electronics (Hong Kong) Co., LTD.

How quickly a payment reaches Samsung Electronics (Hong Kong) Co., LTD. is determined by a few things: which currency you send, how many intermediary banks are involved, daily processing deadlines and differences in time zone. Weekends and public holidays in the sending or receiving country add extra days. Compliance checks by one of the banks can also add some delay.

A growing number of banks use SWIFT gpi. Each gpi transfer gets a unique transaction reference, the UETR, which your bank can use to see where the money is. Save your transfer receipt until the recipient confirms.

Only the sending bank can request a trace or a recall – the recipient’s bank often cannot see a payment that has not arrived. Request from the sender the payment receipt – it helps your own bank look for the money.

What to give a sender who pays you at Samsung Electronics (Hong Kong) Co., LTD.

If you expect a payment from another country, give the sender a complete set of details. What they need is: your name, IBAN or account number, SECTHKH1XXX and often your postal address.

The sender’s bank might request the bank address of Samsung Electronics (Hong Kong) Co., LTD.. Double-check the details before you share them.

Money from abroad will not always arrive in full. Correspondent banks can take a fee and your own bank may charge for processing, and when currencies differ, a markup on the rate applies. Make clear with the sender who covers the fees before the money is sent.

Why Samsung Electronics (Hong Kong) Co., LTD. has an 8- and an 11-character code

The structure of every SWIFT code is always the same: four characters for the institution, two for the country and a two-character location code, plus an optional branch code. That gives you SECTHKH1 for Samsung Electronics (Hong Kong) Co., LTD..

XXX at the end of SECTHKH1XXX is not a placeholder or an error: it stands for the head office of Samsung Electronics (Hong Kong) Co., LTD.. Certain payment forms insist on 11 characters, and then you can enter XXX behind SECTHKH1.

Type the code as one block, in upper case and without spaces. Watch for the letter O and the digit 0 or the letter I and the digit 1.