SWIFT/BIC codes in Micronesia

Bank SWIFT codes for Micronesia

Here you will find codes for 1 institutions in Micronesia. You will need such a code mostly when making international transfers and for payments in a foreign currency.

Look for the bank you need below and click through for the full list of codes and what else a transfer requires. Below the list we explain how codes from Micronesia are built, how to send money there without overpaying and how to check a code before you pay.

The US Dollar (USD) and conversion costs

The national currency of Micronesia is the US Dollar (USD). A payment in a foreign currency is exchanged into USD on its way to the recipient – and the bank that does it picks the rate.

Who converts the money matters: every bank has its own margin. Check how much USD the recipient gets via several providers; the difference between options can be larger than you expect. Exchange rates move during the day – some providers let you lock in a rate.

Recognising a SWIFT code from Micronesia

A SWIFT code is either 8 or 11 characters long and the parts always come in the same order. First comes a four-letter bank code, then a two-letter country code and two characters for the location.

You can spot a bank code from Micronesia from the fifth and sixth characters. If the country letters do not match Micronesia, the code belongs to a bank in another country.

The long version adds a branch code, where XXX means the head office. In most cases the head office code is what you need, unless the recipient gives you a branch code.

Receiving money in Micronesia from abroad

If you are waiting for money from abroad in Micronesia, give the sender a complete set of details. In practice that means: your name as your bank knows it, your IBAN or account number, the SWIFT/BIC code of your bank and sometimes your address.

The code of your bank appears in the list on this page but always compare it with your own bank details. It helps to add your bank’s name and city as well.

Do not be surprised if the amount credited is below the amount on the sender’s receipt. Intermediary banks may deduct a fee and your own bank may charge for processing, and if the money is converted, an exchange rate margin applies. Make clear with the sender who pays which costs before the money is sent.

Verifying a SWIFT code from Micronesia

The safest source for the BIC is the recipient’s own bank details. An incorrect BIC may lead to delays, a returned payment or additional charges – compare it with the code in our list.

We collect bank codes from publicly available data and update them regularly. Banks merge, change names and change codes – a directory can be a step behind. For any payment that matters, confirm the code with the recipient’s bank. We are an independent comparison service.

Scammers often send payment requests with changed bank details from what looks like a familiar address. A real SWIFT code says nothing about whether a request is genuine.

What a transfer to Micronesia really costs

A bank transfer to Micronesia often costs more than the fee suggests. On top of the fee, intermediary banks can take a cut, and when the money is converted the bank often applies a less favourable rate than the actual market rate.

Most of the cost usually sits in the exchange rate, rather than in the fee. Compare the bank’s rate with the mid-market rate; the gap is what conversion costs you.

For many routes, a specialist provider is less expensive than a bank – mostly thanks to the exchange rate. GoldexPay compares what recipients in Micronesia receive across providers.

Tracking a payment to Micronesia

How fast a payment arrives in Micronesia depends on a few things: the currency, how many intermediary banks are involved, daily processing deadlines and differences in time zone. Transfers sent after the cut-off time or on a weekend or public holiday often go out a business day later.

Many banks are connected to SWIFT gpi, which lets them follow a payment from bank to bank. Each gpi transfer carries a unique transaction reference, the UETR. Save the payment confirmation until the recipient confirms.

Most SWIFT codes in Micronesia: Bank of Hawaii - Pohnpei Branch

Among the 1 institutions we list, Bank of Hawaii - Pohnpei Branch has the most SWIFT/BIC codes of all banks in Micronesia. The head office of Bank of Hawaii - Pohnpei Branch has BOHIFMP1XXX; that is usually the right code for a transfer.

Many codes usually means that the bank registers branches and departments separately, not necessarily that the bank is the biggest in the country. If not the recipient asks for a branch, the head office code BOHIFMP1XXX works for transfers to this bank.

Why a transfer to Micronesia needs a SWIFT code

Micronesia is outside the SEPA area, the European zone for uniform euro payments. International transfers to Micronesia usually go over the SWIFT network – which is why you need the BIC of the recipient’s bank.

Not all countries use IBAN numbers – where there is none, the local account number is enough. The recipient’s bank often has instructions for payments from abroad, and it is worth following them to the letter. On the way to Micronesia, a payment may pass through correspondent banks.