Bangko Sentral Ng Pilipinas SWIFT/BIC code

Bangko Sentral Ng Pilipinas SWIFT code: PHCBPHMC

The short code PHCBPHMC and the 11-character code PHCBPHMCXXX identify the same bank: Bangko Sentral Ng Pilipinas in Manila, Philippines. The code does one job: it ensures that money from abroad reaches the right bank. It comes up mainly when dealing with payments that cross a border.

On this page you can read what the code is put together, when it matters and which other details a transfer to or from Bangko Sentral Ng Pilipinas requires. Keep in mind that the SWIFT code only identifies the bank, not the account: the IBAN or account number takes care of that.

How up to date is this code?

This directory is based on public sources and is updated regularly. It is possible that information here is out of date after a merger or reorganisation. Figures such as the number of codes come from our own dataset and may differ from what Bangko Sentral Ng Pilipinas publishes.

See our directory here as a handy check. GoldexPay is not affiliated with Bangko Sentral Ng Pilipinas, we only compare transfer services. Should you notice a mistake, we appreciate a message.

What the XXX in PHCBPHMCXXX means

The layout of every SWIFT code never changes: four characters for the institution, a two-letter country code and two for the location, sometimes followed by a branch code. In this case, the 8-character core is PHCBPHMC.

XXX at the end of PHCBPHMCXXX is not a placeholder or an error: it indicates the main office of Bangko Sentral Ng Pilipinas. Some forms insist on 11 characters, and then you can enter XXX after PHCBPHMC.

Type the code in one piece, in upper case and without spaces, exactly as shown here. A single character can send the money to another bank.

Watch out for payment fraud

One of the most common tricks goes like this: an email arrives with a message saying that a company now has a new bank account and that the next payment should go there. A correct SWIFT code tells you nothing about whether the request is genuine.

Check new bank details through a different channel, such as a phone number you already know, not by replying to the message. Watch out for time pressure, unusual wording or a sender address that is slightly off. When money was sent to a fraudster, contact your bank immediately.

People receiving money are targeted too: a classic trick is a buyer who pays too much followed by a request to refund the difference abroad. Wait until the money has really arrived.

Incoming international payments to Bangko Sentral Ng Pilipinas

If you are waiting for a payment from another country, give the sender all details at once. Give them the account holder’s name, the IBAN or account number, SWIFT code PHCBPHMCXXX and your address, which some banks require.

The sender’s bank may also ask for the bank address of Bangko Sentral Ng Pilipinas; the head office in Manila is usually fine. Check every detail before you share them.

Money from abroad will not always arrive in full. Charges on incoming payments vary per bank. For business payments, you can state who bears the costs.

When will the money arrive at Bangko Sentral Ng Pilipinas?

A SWIFT payment usually takes one to a few business days, depending on the currency, the route and the banks involved. Bank holidays in the sending or receiving country add a day or more to the journey. Compliance checks by one of the banks can also cause some delay, regardless of the details.

A growing number of banks use SWIFT gpi. Each gpi transfer gets a unique reference, the UETR, which your bank can use to see where the money is. Keep your transfer receipt until the recipient confirms – you will need it for any trace request.

A delayed transfer is investigated by the sending bank. On the receiving end, you can check your account for a slightly lower amount.

Verifying the SWIFT code of Bangko Sentral Ng Pilipinas

The most reliable place for the correct BIC remains a document from the bank itself, such as a statement or the account details in online banking. When the code you were given differs from PHCBPHMC or PHCBPHMCXXX, stop and ask: check with the recipient or with Bangko Sentral Ng Pilipinas directly.

A wrong SWIFT code can cause a delay, a returned payment or additional charges along the way. An error in the IBAN or account number can be more serious, because the money may be credited to someone else.

A format check by your bank merely tells you that the IBAN exists, not that it is the right account. If your bank offers it, a payee name check before sending adds an extra layer of safety. A small test payment can be a sensible step for a large first payment.

The Philippine Peso and what conversion costs you

Philippines uses the Philippine Peso, code PHP. Money sent in a different currency is exchanged into PHP on its way to Bangko Sentral Ng Pilipinas, and whoever converts it chooses the rate. You rarely see a separate charge for that conversion.

Who converts the payment matters: every bank has its own margin. Check how much PHP arrives with several providers.

The rate for PHP fluctuates constantly. With bigger transfers, even seemingly small gap in the rate can be worth more than the fee.

Which of the 2 codes of Bangko Sentral Ng Pilipinas do you need?

Bangko Sentral Ng Pilipinas has 2 different SWIFT/BIC codes across 1 locations. One of them is the head office code, PHCBPHMCXXX; the rest belong to branches.

Unless the recipient tells you otherwise, use PHCBPHMCXXX or its short form PHCBPHMC. Just use a branch code when your contact explicitly asks for it.

The best way is to copy the code straight from the account holder’s invoice. Branch codes are more prone to change than the head office code.

What a transfer from Bangko Sentral Ng Pilipinas abroad really costs

What you pay for a payment abroad has more than one component, and the transfer fee is only the most visible one. On top of a fixed fee, correspondent or intermediary banks may take a cut, and if the money changes currency the bank often uses a rate that is less favourable than the actual market rate.

Many banks rarely show the margin on the rate separately. An easy check: put the rate you get against the mid-market rate for the same moment and work out the difference on your amount.

For a lot of routes, a specialist provider is less expensive than a traditional bank transfer. Before your next transfer, it is worth to compare what arrives on GoldexPay instead of going straight to your bank. You can always use your account at Bangko Sentral Ng Pilipinas as the source of the money.