Samsung Electronics Baltics SWIFT/BIC code

SECTLV21 – the SWIFT/BIC code of Samsung Electronics Baltics

The 8-character code SECTLV21 and the full code SECTLV21XXX refer to one and the same institution: Samsung Electronics Baltics. A BIC has a single purpose: it makes sure that a cross-border transfer reaches the right bank. It comes up mainly when dealing with transfers between countries or a currency.

On this page we explain how the code means, when you need it and what else a transfer to or from Samsung Electronics Baltics requires. A SWIFT code names an institution, not a single account, which is why you always need the account number too.

Which of the 2 codes of Samsung Electronics Baltics do you need?

Our database contains 2 SWIFT/BIC codes for Samsung Electronics Baltics, spread over 1 cities. Besides the head office code SECTLV21XXX, you will find codes for regional offices and specialised units.

If nobody asks you for a branch code, use SECTLV21XXX. A branch code only makes sense if the account holder specifically mentions it.

Not sure which code applies? Ask the recipient or the bank itself. Branch codes are sometimes changed or retired over time, so do not rely on old paperwork.

What to give a sender who pays you at Samsung Electronics Baltics

For an international payment into your account at Samsung Electronics Baltics, the person paying you has to have not just the SWIFT code. What they need is: the account holder’s name, account number or IBAN, SECTLV21XXX and often your postal address.

You can include Samsung Electronics Baltics and its city as well, because some payment forms have separate fields for them. A mistake in the IBAN can be more trouble than you might think.

Expect that the amount credited is below what the sender paid. Fees for incoming transfers differ from bank to bank; check the price list of Samsung Electronics Baltics. On invoices, it is common to state who bears the costs.

Tracking a transfer to or from Samsung Electronics Baltics

There is no single answer: many land within a day while others need several business days. Transfers sent late in the day or on a weekend or public holiday usually start a business day later. Sometimes a bank wants to know what the payment is for before releasing it.

A growing number of banks are connected to SWIFT gpi for faster and traceable payments. Each payment carries a unique transaction reference, the UETR, which your bank can use to see where the money is. Specialist transfer services often show a status in their app showing where the payment is.

If a payment has not arrived within the expected time, the sender needs to contact their own bank, not the receiving bank. Ask the sender for the payment receipt with the date and reference – it helps your own bank look for the money.

Do you need SECTLV21 for a SEPA transfer?

Latvia is part of the Single Euro Payments Area (SEPA), the zone for standardised euro payments. For a regular euro transfer within SEPA, you normally only need the IBAN; many banks no longer ask for the BIC.

Outside the euro and for senders outside SEPA, SECTLV21XXX is still part of the payment details. A few forms also ask for the BIC; if so, fill in SECTLV21 or SECTLV21XXX.

Instant euro transfers are increasingly available across SEPA – whether Samsung Electronics Baltics offers them for your account is worth checking. Charges on SEPA payments tend to be low as long as everything stays in euros.

International transfers from Samsung Electronics Baltics: the real cost

What you pay for an international transfer has more than one component. There is the transfer fee, sometimes charges from correspondent banks in between and, above all, the exchange rate markup if the currency changes.

The real cost is often in the rate: many banks convert at a rate that includes a margin. Compare the rate you are offered with the mid-market rate. The difference is your real conversion cost.

For a lot of routes, a transfer service is less expensive than a bank – mostly thanks to the rate. Next time you send money, take a minute comparing what arrives on GoldexPay instead of going straight to your bank. Choosing a specialist does not require closing your account at Samsung Electronics Baltics – you pay the provider from your own account.

Paying into Samsung Electronics Baltics in EUR

The national currency of Latvia is the Euro (EUR). A payment in a foreign currency will be converted into EUR on its way to Samsung Electronics Baltics. Each conversion costs something – usually through the rate rather than a fee.

Where the conversion happens has an effect on the final amount, since every bank sets its own rate. Transferring the amount directly in EUR usually prevents a second conversion at the receiving end, provided the rate you get is fair.

Rates for EUR move all the time, and some providers let you lock in a rate. With bigger transfers, even small difference in the rate can be worth more than the fee.

Where our SWIFT data comes from

Our SWIFT/BIC directory is compiled from publicly available sources and we update it periodically. Banks reorganise, close branches and change codes, and a directory never catches every change immediately. Figures such as the number of codes come from our own dataset and may differ from what Samsung Electronics Baltics publishes.

Use this page as a starting point, rather than as the last word: the recipient’s bank details come first. We are a comparison service for money transfers and not part of Samsung Electronics Baltics. Should you notice something that is out of date, we welcome a message.

SECTLV21 or SECTLV21XXX – which one to use?

A SWIFT code is made up of fixed blocks: characters one to four stand for the bank, the next two show the country and the two after that indicate the location. In this case, the 8-character core is SECTLV21.

Most payment forms accept either length. If yours requires eleven characters, use SECTLV21XXX.

Type the code as one block, in upper case and without separators. Watch for the letter O and the digit 0 or I versus 1; they are easy to mix up.

Changed bank details? Be careful

Fraudsters regularly send fake invoices containing new bank details. The fact that SECTLV21 exists does not mean that a request mentioning it is genuine.

Verify changed payment details through a separate channel, not by replying to the message. Urgency and secrecy are red flags; a genuine business can wait for you to check. Already paid? Call the bank you paid from straight away and ask them to try to recall the payment.

People receiving money are targeted too: a classic trick is a buyer who pays too much followed by a request to send back the difference. A payment confirmation from the sender proves nothing – check your own account.

Verifying the SWIFT code of Samsung Electronics Baltics

The best place to find the correct BIC is paperwork issued by the bank, such as a statement or the account details in online banking. When the code you were given differs from SECTLV21 or SECTLV21XXX, do not guess – contact the recipient or Samsung Electronics Baltics.

Mistakes in the BIC are costly more than fatal. Do not forget the account number: a mistake there can be harder to correct than a wrong BIC.

An automatic check in your banking app merely confirms that the code is valid, not that it is the right account. If your bank offers it, a name check before sending gives extra certainty. When you pay someone new, some people send a small test amount and wait for confirmation.