SWIFT/BIC codes in Philippines

Philippines: banks and their SWIFT/BIC codes

Here you will find the SWIFT/BIC codes of 411 institutions in Philippines, 456 codes in all. You need such a code mainly for international transfers, and especially for payments in foreign currencies.

Look for the bank you need in the list and click through for all codes we have and what else a transfer requires. Below the list we explain how a code from Philippines is put together, how to send money to Philippines at a fair price and what to check before you pay.

Receiving money in Philippines from abroad

A sender in another country will ask for several details about your account, and missing ones are a common cause of delays. In practice that means: your full name exactly as it appears on the account, your account number or IBAN, the BIC of your bank and usually your address.

Look up the bank in the list above and compare the code with your own bank details. Certain banks also want the name and address of your bank.

The amount you receive can be less than what was sent. Correspondent banks can take a fee, your bank may charge for incoming payments, and when currencies differ, a markup on the rate applies. On invoices, state how the fees are split to avoid a shortfall.

Most SWIFT codes in Philippines: Asiatrust Bank

Of all banks we list for Philippines, Asiatrust Bank is listed with the largest number of codes. Its head office code is ATDBPHM1XXX.

A large number of codes usually means that the bank registers branches and departments separately. Unless the recipient asks for a branch, ATDBPHM1XXX is fine for transfers to this bank.

International payments to Philippines and the BIC

To pay into Philippines you will usually need the BIC. Without it, most banks cannot process the payment at all.

In some countries, accounts are identified by a domestic account number instead of an IBAN and sometimes a local routing or branch code. The recipient’s bank often provides instructions for incoming international payments – follow them exactly. On the way to Philippines, a transfer may go through correspondent banks that charge for their part.

The cheapest way to send money to Philippines

When you transfer money to Philippines with your bank, the fee you see is rarely all of what you pay. Besides a fixed fee, correspondent banks may deduct a charge and, if currencies are converted, the bank usually applies a rate below the actual market rate.

The real cost is often in the rate, rather than in the fee – the bank builds a margin into its rate. Compare the bank’s rate with the mid-market rate, the midpoint you see on financial news sites. The difference is your real cost.

Specialised transfer providers frequently offer a rate near the mid-market rate. GoldexPay compares what recipients in Philippines receive across providers.

Recognising a SWIFT code from Philippines

Every SWIFT/BIC code consists of 8 or 11 characters in a fixed order. First comes a four-letter bank code, followed by a two-letter country code and a two-character location code.

For banks in Philippines, letters five and six show the two-letter ISO code of Philippines. When the country letters do not match Philippines, you are looking at a bank in another country – worth double-checking.

The long version adds three characters for a branch, where XXX means the head office. Choose a branch code just if the recipient explicitly gives you one – otherwise stick with the head office.

Transfer times to Philippines

How quickly a payment reaches Philippines depends on several factors: the currency, the number of banks in between, cut-off times and differences in time zone. Transfers sent late in the day or just before a weekend or public holiday usually go out a business day later.

Many banks use SWIFT gpi. Each payment gets a unique transaction reference, the UETR, which the sending bank can use to trace it. Keep the payment confirmation until the recipient confirms; a bank needs it to start a trace.

The Philippine Peso (PHP) and conversion costs

The currency of Philippines is the Philippine Peso (PHP). A payment in a foreign currency is converted into PHP on its way to the recipient, and whoever converts it chooses the rate.

Who converts the money makes a difference: every bank has its own margin. Check what PHP arrives with different services. With bigger transfers, even a small difference in the rate can be worth more than the fee.

How reliable is this list?

Have the recipient copy the account details directly from their banking app. When the code you were given does not match our list, stop and ask.

We collect SWIFT/BIC codes from publicly available data and update them from time to time. Even so, banks merge or change codes, so information can be out of date. For a payment that matters, check the code with the recipient’s bank. GoldexPay is a comparison service.

Be wary of invoices containing a new account – a common fraud method. A valid BIC tells you nothing about whether a request is genuine.