Samsung Electronics Morocco SWIFT/BIC code

What SECTMAM1 means for a payment to Samsung Electronics Morocco

The short code SECTMAM1 and the full code SECTMAM1XXX refer to one and the same institution: Samsung Electronics Morocco, with its head office in Casablanca. A SWIFT code tells every bank in the chain exactly which bank should receive the money. It comes up mainly when dealing with transfers between countries or a currency.

This page is meant to help people who receives money at an account at Samsung Electronics Morocco and wants to get the details right. The SWIFT code alone cannot identify a personal account; that is what the account number or IBAN is for.

Is SECTMAM1 still correct? How to check

The most reliable place for the right code is paperwork issued by the bank like a bank statement or the account page in online banking. If the code you have differs from SECTMAM1 or SECTMAM1XXX, stop and ask: check with the recipient or with Samsung Electronics Morocco directly.

A wrong SWIFT code may lead to a delay, a returned payment or additional charges for investigation. An error in the IBAN or account number is a bigger problem because it can reach the wrong person.

An automatic check by your bank merely tells you that the IBAN is valid – not that it belongs to the person you mean to pay. Some banks now check the name against the account before you confirm. When you pay someone new, some people start with a small amount first before sending the rest.

Changed bank details? Be careful

Stay alert if a contact suddenly wants you to send money to a different account. A real SWIFT code tells you nothing about whether the request is genuine.

Always verify a change of bank details by phone. Be suspicious of time pressure, unusual wording or an email address that differs by one letter. If money was sent to a fraudster, call your bank right away – speed improves the chance of getting it back.

People receiving money can be targeted as well: a classic trick is an overpayment and then sends a request to send back the difference abroad. Wait until the money has really arrived.

Where our SWIFT data comes from

The directory on GoldexPay draws on publicly available sources and is updated regularly. Banks merge, change names and retire codes – a directory can be a step behind. Counts and locations are from our own dataset and may differ from what Samsung Electronics Morocco publishes.

For a payment of any size, confirm the BIC with Samsung Electronics Morocco or the recipient. GoldexPay is a comparison service for money transfers and not affiliated with Samsung Electronics Morocco. Should you notice a mistake, we welcome a message.

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

Someone abroad who wants to pay you will ask for a few details from you, and missing ones are a common cause of delays. That means: your full name as registered with Samsung Electronics Morocco, your account number or IBAN, the SWIFT/BIC code SECTMAM1XXX (or SECTMAM1) and sometimes your postal address.

You can add the bank name and Casablanca too. Double-check each detail before you send them – a sender rarely spots a mistake in someone else’s details.

Do not be surprised if the incoming amount is smaller than what the sender paid. Intermediary banks may deduct a fee, and if the currency changes, an exchange rate margin comes on top. On invoices, it is common to agree who bears the costs to avoid a shortfall.

Paying someone abroad from your Samsung Electronics Morocco account

If you send money abroad from Samsung Electronics Morocco, the visible fee is only part of what you pay. On top of the transfer fee, banks in between may deduct a fee, and when the money changes currency the bank usually uses a rate below the real market rate.

Many banks do not list the margin on the rate separately, but you pay it all the same. A simple test: put the bank’s rate next to the mid-market rate for the same moment and work out the difference on your amount.

For many currency pairs, a transfer service turns out to be less expensive than a traditional bank transfer, mainly because of the exchange rate. GoldexPay lists transfer providers side by side, showing what actually arrives before you commit. You can still keep your account at Samsung Electronics Morocco.

Head office or branch code at Samsung Electronics Morocco?

Samsung Electronics Morocco uses 2 separate SWIFT/BIC codes. Only one is the head office code; the rest belong to branches.

For most payments to a private or business account, the head office code SECTMAM1XXX is the right choice. When you receive a branch code, stick to it instead of replacing it with the head office code.

When in doubt, check with the recipient for the exact BIC in their bank details. Codes for branches are more prone to change than SECTMAM1XXX when a bank merges or closes offices.

When will the money arrive at Samsung Electronics Morocco?

A SWIFT payment usually needs one to a few business days – it depends on currency, route and the banks in between. Bank holidays in either country add a day or more. Occasionally a bank wants to know about the purpose of a payment, which can hold things up.

Many banks use SWIFT gpi. Each gpi transfer carries a unique reference, the UETR that banks can use to trace it. Keep your transfer receipt; it contains the details a bank needs to start a trace.

If the money does not arrive after a few business days, the sender needs to contact the bank that sent it, not the receiving bank. As a recipient, you can check your statements for a slightly lower amount because fees can reduce the amount.

SECTMAM1 or SECTMAM1XXX – which one to use?

Every SWIFT/BIC code has the same eight core characters: a four-letter bank code, a two-letter country code and two characters for the location. That gives you SECTMAM1.

XXX at the end of SECTMAM1XXX does not stand for a missing value or an error: it stands for the head office of Samsung Electronics Morocco. Certain payment forms insist on 11 characters, and then you can enter XXX after SECTMAM1.

Do not add spaces when you type SECTMAM1 or SECTMAM1XXX. Pasting the code beats retyping it, because one wrong letter changes the bank.