Samsung Electronics West Africa Limited SWIFT/BIC code

What SECTNGL1 means for a payment to Samsung Electronics West Africa Limited

SECTNGL1 and SECTNGL1XXX are the short and the long form of the same SWIFT/BIC code, and both lead to Samsung Electronics West Africa Limited in Lagos. The code has a single purpose: it ensures that an international payment reaches the right bank. In daily life you usually come across the code on invoices from abroad, in your banking app and in the bank details that Samsung Electronics West Africa Limited provides.

We wrote this page to help anyone who receives money at an account at Samsung Electronics West Africa Limited. The SWIFT code on its own does not identify an individual account holder; for that you need the IBAN or account number .

A note on our data

The details on this page are taken from public sources that we update regularly. Still, banks merge or retire codes, so information can be out of date. Counts and locations come from our own dataset and are not confirmed by Samsung Electronics West Africa Limited.

For any payment that matters, always confirm the BIC with Samsung Electronics West Africa Limited or with the recipient. GoldexPay is independent of Samsung Electronics West Africa Limited; we are a comparison site for money transfers. Spotted outdated information? Let us know through the contact page and we will look into it.

Transfer times and tracking a payment to Samsung Electronics West Africa Limited

A SWIFT payment typically needs anywhere from one to several business days – it depends on currency, route and the banks in between. Payments made late in the day or just before a weekend or public holiday usually start the next business day. Sometimes a bank asks about the purpose of a payment, which can hold things up.

A growing number of banks use SWIFT gpi for faster and traceable payments. Each payment gets a unique reference, the UETR. Save the payment confirmation until the recipient confirms.

If the money does not arrive within the expected time, the sender should start with the bank that sent it rather than Samsung Electronics West Africa Limited. Ask the sender for a copy of the payment confirmation.

Protect yourself against fake payment requests

One of the most common tricks goes like this: you receive a request claiming that a contact now has new bank details and that the next payment should go there. A real SWIFT code says nothing about who owns the account: scammers use real codes of real banks.

Check new payment details via a separate channel. Urgency and secrecy tend to be warning signs – a real supplier can wait a day. If money was sent to a fraudster, call your bank right away – speed improves the chance of getting it back.

People receiving money are targeted too: a classic trick is a buyer who pays too much and then sends a request to send back the difference abroad. Do not act before the money is actually in your account and check with Samsung Electronics West Africa Limited if anything seems off.

What a transfer from Samsung Electronics West Africa Limited abroad really costs

When you transfer money abroad through Samsung Electronics West Africa Limited, the fee you see is rarely all of what you pay. Besides a fixed fee, correspondent or intermediary banks can deduct a fee, and if the money changes currency the bank often uses a rate that is less favourable than the actual market rate.

Many banks do not list the margin on the rate as a cost. An easy check: put the bank’s rate next to the mid-market rate and work out the difference on your amount.

Money transfer services often offer a rate near the mid-market rate and lower fees. GoldexPay lists transfer providers side by side so you can see the amount the recipient gets before you commit. Using a transfer service does not mean closing your account at Samsung Electronics West Africa Limited.

What the XXX in SECTNGL1XXX means

The structure of a BIC never changes: four characters for the institution, two for the country and a two-character location code, plus an optional branch code. In this case, that core is SECTNGL1.

Many banks and apps work with both lengths. If yours requires eleven characters, use SECTNGL1XXX; if it wants eight, use SECTNGL1.

Enter the code as one block, in upper case and without separators. A wrong letter can send a payment to a different institution.

Choosing between the 2 SWIFT codes of Samsung Electronics West Africa Limited

Our directory lists 2 SWIFT/BIC codes for Samsung Electronics West Africa Limited in 1 places. Besides the head office code SECTNGL1XXX, you will find codes for branches, departments or specific services.

Usually you do not need to look up a branch: payments addressed to SECTNGL1XXX are routed within Samsung Electronics West Africa Limited without problems. Just use a branch code when the account holder explicitly asks for it, for example on an invoice or in their bank details.

The safest route is to copy the code straight from the account holder’s bank details. Codes can change over time, so do not rely on old paperwork.

Is SECTNGL1 still correct? How to check

The most reliable place for the right code is a document from the bank itself. Compare it against SECTNGL1 on this page.

Errors in the SWIFT code are costly rather than fatal – usually the money comes back, minus fees and time lost. Do not forget the IBAN: an error there is harder to correct than a wrong code.

Many banking apps check the structure of IBANs. Where available, a payee name check before sending adds extra certainty. When you pay someone new, many people send a small amount first before sending the rest.

Receiving money from abroad at Samsung Electronics West Africa Limited

For a transfer from abroad at Samsung Electronics West Africa Limited, the person paying you has to have not just the SWIFT code. Give them your name as the bank knows it, the IBAN or account number, SWIFT code SECTNGL1XXX and your address, which some banks require.

Their bank might request the bank address of Samsung Electronics West Africa Limited; the head office in Lagos is usually fine. Check each detail before you send them.

Do not be surprised if the incoming amount is below what the sender paid. Intermediary banks may deduct a fee, Samsung Electronics West Africa Limited may charge for incoming payments, and if the money is converted, an exchange rate margin comes on top. On invoices, you can agree who bears the costs.