Samsung Electronics Latin America Panama (Zona Libre) S.A. SWIFT/BIC code

SECTPAP1 – the SWIFT/BIC code of Samsung Electronics Latin America Panama (Zona Libre) S.A.

The short code SECTPAP1 and the 11-character code SECTPAP1XXX identify the same bank: Samsung Electronics Latin America Panama (Zona Libre) S.A., with its head office in Panama. Banks worldwide use BIC codes to route payments between countries to the right bank. It comes up mostly when dealing with payments that cross a border or a currency.

We wrote this page to help people who sends money to an account at Samsung Electronics Latin America Panama (Zona Libre) S.A.. A SWIFT code identifies a bank or branch, never a single account; the IBAN or account number does that.

Where our SWIFT data comes from

The details here are taken from public sources which we refresh regularly. Even so, banks merge, rename themselves or change codes, so information can be out of date. The number of codes we show reflect what is in our directory and not on information from Samsung Electronics Latin America Panama (Zona Libre) S.A. itself.

Before any payment of any size, check the code with Samsung Electronics Latin America Panama (Zona Libre) S.A. or the recipient. GoldexPay has no connection to Samsung Electronics Latin America Panama (Zona Libre) S.A., we only compare transfer services. Found an error? Let us know through the contact page.

Paying someone abroad from your Samsung Electronics Latin America Panama (Zona Libre) S.A. account

The price of a payment abroad is made up of several parts, and the transfer fee is only the most visible one. You pay the fee for the transfer itself, sometimes fees charged by intermediary banks along the way and, above all, the margin on the exchange rate when the money is converted.

Banks rarely show their exchange rate markup as a cost – you only notice it if you compare. Compare their rate with the mid-market rate – the rate you find on financial news sites.

For a lot of routes, a transfer service turns out to be less expensive than a traditional bank transfer, mainly because of the exchange rate. GoldexPay compares transfer providers side by side so you can see what actually arrives. Using a transfer service does not mean leaving Samsung Electronics Latin America Panama (Zona Libre) S.A..

Transfer times and tracking a payment to Samsung Electronics Latin America Panama (Zona Libre) S.A.

There is no fixed delivery time for every transfer: some land within a day, others take several business days. Transfers sent late in the day or just before a weekend or public holiday often start a business day later. Occasionally a bank asks what the payment is for, which can hold things up.

Many banks use SWIFT gpi. Each gpi transfer carries a unique transaction reference, the UETR, which your bank can use to see where the money is. Keep the payment confirmation.

The bank that sent the money can start an official trace or a recall. Request from the sender the payment receipt including the reference; that often settles the question quickly.

Protect yourself against fake payment requests

One of the most common tricks goes like this: an email arrives with a request claiming that a company has a new bank account. The fact that SECTPAP1 exists does not mean that a request mentioning it is genuine.

Never trust a phone number from the same email that contains the new account. Urgency and requests to keep it quiet are red flags. Already paid? Call your bank without delay and ask them to try to recall the payment and report the fraud.

Scams also work the other way: someone sends too much and wants you to return the extra. Wait until the money has really arrived – ask Samsung Electronics Latin America Panama (Zona Libre) S.A. if something looks wrong.

How to check SECTPAP1 before you pay

Have the recipient send you their bank details directly from their banking app. Check that code against SECTPAP1 on this page.

Errors in the SWIFT code tend to be costly rather than disastrous. Do not forget the account number: a mistake there can be harder to correct than a wrong BIC.

A format check in your banking app merely tells you that the code is valid – not that it belongs to the person you mean to pay. If your bank offers it, a payee name check before sending adds an extra layer of safety. A small test payment is worth it for a large first payment despite the extra fee.

Getting paid from abroad into a Samsung Electronics Latin America Panama (Zona Libre) S.A. account

For an international payment into your account at Samsung Electronics Latin America Panama (Zona Libre) S.A., the sender needs more than the SWIFT code. What they need is: your name, IBAN or account number, SECTPAP1XXX or SECTPAP1 and, for some countries, your postal address.

The sender’s bank may request the address of your bank; the head office in Panama is usually fine. A typo in the IBAN is harder to fix than it looks; copy them from your banking app rather than typing.

Expect that the amount credited is smaller than the amount on the sender’s receipt. Charges on incoming payments differ per bank – the price list of Samsung Electronics Latin America Panama (Zona Libre) S.A. tells you what applies. On invoices, it is common to agree who bears the costs.

What the XXX in SECTPAP1XXX means

Each SWIFT/BIC code starts with the same eight core characters: four letters for the bank, a two-letter country code and two characters for the location. In this case, that core is SECTPAP1.

XXX at the end of SECTPAP1XXX is not a placeholder or a mistake: it indicates the main office of Samsung Electronics Latin America Panama (Zona Libre) S.A.. Some banking apps ask for 11 characters, and then you simply enter XXX after SECTPAP1.

Leave out spaces or dashes when you enter SECTPAP1 or SECTPAP1XXX. A wrong letter can send a payment to a different institution, so copy it carefully.

Samsung Electronics Latin America Panama (Zona Libre) S.A.: head office code versus branch codes

We have 2 SWIFT/BIC codes for Samsung Electronics Latin America Panama (Zona Libre) S.A.. Besides the head office code SECTPAP1XXX, there are codes for individual branches and departments.

Usually you do not need to look up a branch: payments sent to SECTPAP1XXX reach Samsung Electronics Latin America Panama (Zona Libre) S.A. without problems. Only use a branch code when the account holder gives you that exact code.

When in doubt, check with the recipient for the exact BIC in their bank details. Codes are sometimes changed or retired when banks reorganise, so a code from an old document is not always valid.