SWIFT/BIC codes in Philippines: banks starting with L

SWIFT/BIC codes in Philippines

In Philippines our database holds 456 SWIFT/BIC codes, spread over 411 institutions. You need a SWIFT/BIC code mostly when making international transfers, and especially for payments in foreign currencies.

Each bank is listed with its own page showing the head office code and, where available, codes for branches and departments. Further down you can read how a code from Philippines is put together, how to send money to Philippines without overpaying and how to check a code before you pay.

Banks in Philippines starting with :letter

This filter limits the list down to banks from Philippines that begin with :letter to make searching quicker. The totals mentioned above still cover the whole country, not just this letter.

If the bank you need is missing here, check another letter – the registered name can differ from the name people use. Use the full list for Philippines when you do not know the exact name.

How reliable is this list?

The safest source for the BIC is the bank details provided by the recipient. An incorrect BIC can cause delays, a returned payment or extra fees – compare it with the code in our list.

The directory on GoldexPay is based on public sources. Even so, banks merge, rename themselves or retire codes and our data may lag behind. For any payment of any size, check the BIC with the recipient. GoldexPay is a comparison site for money transfers.

Be wary of invoices with a new account – a common fraud method. Before paying, verify changed details by phone, using a number you already had.

Why a transfer to Philippines needs a SWIFT code

To pay into Philippines you almost always need a SWIFT/BIC code. Without the BIC, your bank cannot process the payment.

Not every country uses IBAN numbers – where there is none, the local account number is enough. The receiving bank usually has a list of required details for payments from abroad – follow them exactly. Before it arrives, a payment may pass through correspondent banks that charge for their part.

Which bank in Philippines has the most codes?

In our directory, Asiatrust Bank has the largest number of SWIFT/BIC codes in Philippines. Its main office has ATDBPHM1XXX.

A large number of codes often means that the bank registers branches and departments separately – it says nothing about the size of the bank as such. If not a branch code is given, ATDBPHM1XXX is fine for a payment to Asiatrust Bank.

The cheapest way to send money to Philippines

If you send money to Philippines through your bank, the fee you see is rarely all of the cost. You pay the transfer fee, possibly fees from correspondent banks along the way and, above all, the margin on the exchange rate if the money is converted.

That exchange rate margin is often the biggest cost item, even though it is not listed as a fee. Compare the rate you are offered with the mid-market rate.

For a lot of routes, a transfer service turns out to be less expensive than a bank, mainly because of the rate. On GoldexPay you can compare the amount that arrives in Philippines with different providers, so you can pick the cheapest route.

What a sender needs to pay you in Philippines

To receive an international payment in Philippines, the person paying you has to have not just the SWIFT code. That means: your name as your bank knows it, your IBAN or account number, the SWIFT/BIC code of your bank and usually your address.

Look up your bank in the list on this page to check its code – your bank statement is the final word. Some sending banks may also ask for the name and address of your bank; it does no harm to include it.

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

The Philippine Peso (PHP) and conversion costs

The currency in Philippines is the Philippine Peso (PHP). Money sent in a different 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. Often it is cheaper if you send PHP directly through a provider with a good rate rather than letting the receiving bank convert. With bigger transfers, even a small difference in the rate can be worth more than the fee.

When does money sent to Philippines arrive?

How fast money reaches Philippines depends on several factors: the currency, how many intermediary banks are involved, cut-off times and differences in time zone. Payments made late in the day or on weekends and holidays usually go out a business day later.

When a payment takes longer than expected, ask the sender to contact the sending bank and ask for the status or the UETR – the receiving bank often cannot see a payment that has not arrived. Keep the payment confirmation until the recipient confirms – you will need it if something goes wrong.

How SWIFT codes from Philippines are built

A SWIFT code is 8 or 11 characters long and follows a fixed pattern. First comes a four-letter bank code, then two letters for the country and two characters for the location.

In every code from Philippines, letters five and six show the ISO country code of Philippines, which makes these codes easy to recognise. If the country letters point to another country, you are looking at a bank somewhere else.

When a code ends in XXX, it means the head office, and the 8-character version leads to the same place. For most transfers the head office code is fine, unless the recipient gives you a branch code.