SWIFT/BIC codes in Philippines: banks starting with K

Philippines: banks and their SWIFT/BIC codes

For Philippines we have 456 SWIFT/BIC codes, spread over 411 banks. Each code identifies an institution or a specific branch or department and tells other banks where an international payment should go.

Each bank is listed with its own page showing its main code and, where available, branch codes. The rest of this page explain how the codes work, the cost of transfers and the checks worth doing before a payment.

Which bank in Philippines has the most codes?

Asiatrust Bank tops our list of Philippines banks in SWIFT/BIC codes. Its head office code is ATDBPHM1XXX – the code most transfers need.

Banks differ in how many codes they register – a high count is not a measure of size. Unless the recipient asks for a branch, ATDBPHM1XXX is fine for transfers to this bank.

Tracking a payment to Philippines

An international transfer to Philippines typically needs one to a few business days, depending on the currency, the route and the banks involved. Payments made late in the day or just before weekends and holidays usually start the next business day.

When a payment takes longer than expected, the sender should contact their own bank for a trace – the receiving bank often cannot see a payment that has not arrived. Specialist transfer services usually provide tracking in their app.

SWIFT transfers to Philippines

Philippines is not part of the SEPA area, the European zone for uniform euro payments. International transfers to Philippines normally travel over the SWIFT network – which is why you need the BIC of the recipient’s bank.

In some countries, accounts are identified by a local account number instead of an IBAN. The receiving bank usually provides instructions for payments from abroad – follow them exactly. Before it arrives, a transfer can go through intermediary banks.

Sending PHP to Philippines

Bank accounts in Philippines are typically held in PHP, the local currency. If you send another currency, the amount has to be converted somewhere along the way – by your bank, a bank in between or the recipient’s bank.

Who does the conversion has an effect on the final amount, as rates and margins differ per bank. Check how much PHP the recipient gets with several providers. On larger amounts, even a small difference in the rate adds up quickly.

Bank or transfer service for Philippines?

When you transfer money to Philippines through a regular bank, the fee you see is rarely all of what you pay. There is a transfer fee, sometimes fees from correspondent banks along the way and, above all, the exchange rate markup.

Most of the cost usually sits in the exchange rate, not in the fee: banks convert at a rate with a margin built in. A simple test: set the offered rate against the mid-market rate and look at the difference.

Money transfer services often use rates closer to the mid-market rate and lower fees. Before you send money to Philippines, take a minute to compare the total cost on GoldexPay.

What the letters in a Philippines BIC mean

Every SWIFT/BIC code has eight or eleven characters in a fixed order. First comes four letters for the bank, followed by a two-letter country code and two characters for the location.

In every code from Philippines, characters five and six are the ISO country code of Philippines, which makes these codes easy to recognise. A code with other letters in that position belong to another country – a quick way to catch mistakes.

The optional last three characters stand for a branch or department; XXX is used for the head office. In most cases the head office code is what you need.

Receiving money in Philippines from abroad

A sender in another country needs a few details from you, and missing ones are a common cause of delays. That means: your name exactly as it appears on the account, your account number or IBAN, the SWIFT/BIC code of your bank and sometimes your postal address.

Look up the bank in the list above. You can include your bank’s name and city.

The amount you receive is often less than the amount sent. Charges on incoming payments vary per bank – your bank’s price list tells you what applies. Agree with the sender who covers the fees, especially for larger amounts.

Check the code before you pay

The safest source for the BIC is the recipient’s own bank details: an invoice, a statement or their online banking. If the code you have does not match our list, do not guess.

Our SWIFT/BIC directory draws on public sources that we update periodically. Even so, banks merge or change codes, so information can be out of date. Before a payment of any size, check the code with the recipient. We are a comparison service for money transfers and not part of any bank listed here.

Be wary of invoices containing changed bank details. A real SWIFT code tells you nothing about who owns the account.

Filter: banks in Philippines with :letter

Here you see a selection: just institutions in Philippines with a name starting with :letter. The totals mentioned above still refer to the whole country.

Many institutions appear under their legal name rather than the name on their app or website. The complete list is one click away if the letter filter does not help.