SWIFT/BIC codes in Philippines: banks starting with I

Finding a SWIFT code in Philippines

For Philippines our database holds 456 SWIFT/BIC codes, spread over 411 banks. Each code points to a bank or one of its branches and tells other banks where an international payment should go.

Look for the bank you need in the list and open its page to see all codes we have and what else a transfer requires. Further down we explain how codes from Philippines are built, how to send money to Philippines without overpaying and what to check before you pay.

The Philippine Peso (PHP) and conversion costs

The currency in Philippines is the Philippine Peso (PHP). A payment in a foreign currency will be exchanged into PHP on its way to the recipient.

Who converts the payment matters. In many cases you pay less to send PHP directly via a provider with a good rate. On larger amounts, a seemingly small gap in the rate can be worth more than the fee.

Why a transfer to Philippines needs a SWIFT code

Since Philippines does not belong to SEPA, an international payment normally goes as a SWIFT payment. That means you always need the SWIFT/BIC code of the receiving bank in addition to the account details.

In some countries, the account is identified by a local account number rather than an IBAN. The recipient’s bank usually has instructions for payments from abroad. International transfers sometimes go via one or more intermediary banks and fees can be taken along the way.

Check the code before you pay

The best place to find the right code is a document from the bank itself. If the code you have differs from our list, stop and ask.

This list is compiled from public sources that we update periodically. Even so, banks merge, rename themselves or retire codes and our data may lag behind. Use our data as a starting point, not as the final word. GoldexPay is not a bank and has no link to the banks in this list.

Be wary of invoices containing a new account – a common fraud method. Before paying, verify a change of bank details through a separate channel, using a number you already had.

Filter: banks in Philippines with :letter

You are looking at a filtered list: only institutions in Philippines with a name starting with :letter. The counts in the introduction still cover all banks in Philippines, not just this letter.

Many institutions appear under their legal name, which may start with words like Bank or Banco. Use the full list for Philippines if you do not know the exact name.

The cheapest way to send money to Philippines

When you send money to Philippines through your bank, the stated fee is rarely all of the cost. Besides the fee, correspondent banks can take a cut, and when the money is converted the bank usually applies a rate below the actual market rate.

Most of the cost usually sits in the exchange rate, not in the fee – the bank builds a margin into its rate. Check the bank’s rate with the mid-market rate that you find on financial sites. The difference is your real cost.

Specialised transfer providers frequently offer a rate near the mid-market rate and lower fees. On GoldexPay we compare the amount that arrives in Philippines with different services, so you can pick the cheapest route.

Transfer times to Philippines

There is no single delivery time for transfers to Philippines: many land the same day or the next while others need several business days. Payments made after the cut-off time or on a weekend or public holiday usually start the next business day.

If a transfer is delayed, ask the sender to contact their own bank and ask for the status or the UETR. Specialist transfer services usually show a status online, which makes it easier to see where the money is.

Getting paid from abroad into an account in Philippines

Someone abroad who wants to pay you will ask for several details about your account. Give them the account holder’s name, your account number or IBAN, your bank’s SWIFT code and your address.

Find the bank in the list on this page. Some banks may also ask for the name and address of your bank; it does no harm to include it.

What lands in your account can be lower than what was sent. Correspondent banks can take a fee, your bank may charge for incoming payments, and if the money is converted, an exchange rate margin comes on top. Make clear with the sender who covers the fees, especially for larger amounts.

Recognising a SWIFT code from Philippines

Each SWIFT/BIC code consists of 8 or 11 characters in a fixed order. The first four letters identify the bank, characters five and six form the country code and the next two give the location.

No matter which bank, all Philippines codes share the same country code in positions five and six. When the country letters do not match Philippines, you are looking at a bank somewhere else, so check again.

The last three characters, if present, stand for a specific branch; XXX is used for the head office. In most cases the head office code is what you need, unless the recipient gives you a branch code.

Most SWIFT codes in Philippines: Asiatrust Bank

Asiatrust Bank tops our list for Philippines when it comes to SWIFT/BIC codes. The head office uses ATDBPHM1XXX, which is the code to use when no branch is specified.

A large number of codes often means that the bank registers branches and departments separately. Paying someone at Asiatrust Bank? Use ATDBPHM1XXX unless a specific branch code is requested.