Samsung Electronics Philippines Corp. SWIFT/BIC code

SECTPHM1 – the SWIFT/BIC code of Samsung Electronics Philippines Corp.

The short code SECTPHM1 and the full code SECTPHM1XXX identify one and the same institution: Samsung Electronics Philippines Corp. in Taguig, Philippines. Banks worldwide use BIC codes to route payments between countries to the right bank. In daily life you mostly see it on international invoices, in your banking app and in the bank details of Samsung Electronics Philippines Corp. customers.

Below you will find the practical questions: money coming in from abroad, sending money abroad and how to verify a SWIFT code before you confirm a payment. Remember that the SWIFT code just identifies the bank, not the account: the account number or IBAN takes care of that.

Paying into Samsung Electronics Philippines Corp. in PHP

The national currency of Philippines is the Philippine Peso (PHP). A payment in a foreign currency is exchanged into PHP before it reaches the account, and whoever converts it chooses the rate. There is rarely a separate line for the conversion.

Which bank converts the payment makes a difference: every bank has its own margin. Transferring the amount directly in PHP often prevents an extra conversion – as long as your own rate is good.

The rate for PHP fluctuates throughout the day, so the amount you see is usually only valid for a short time. For regular payments, a slightly better rate make a real difference over time.

A note on our data

We gather SWIFT/BIC codes using publicly available data and check our list regularly. It can happen that a code on this page is out of date after a merger or reorganisation. The figures we show reflect our own data.

Use our data as a starting point, rather than as the last word – the bank details from the recipient are leading. GoldexPay is a comparison site and not affiliated with Samsung Electronics Philippines Corp.. If you notice something that is out of date, we appreciate a short note.

Tracking a transfer to or from Samsung Electronics Philippines Corp.

How fast a payment arrives at Samsung Electronics Philippines Corp. is determined by a few things: the currency, the number of banks in between, daily processing deadlines and time zones. Transfers sent late in the day or on a weekend or public holiday often start a business day later. Compliance checks on larger or unusual payments can also cause some delay, even when all details are correct.

If a transfer seems late, ask the sending bank about the tracking status or the UETR; with that reference banks can see where the payment is. Specialist transfer services often show a status in their app showing where the money is.

If the money does not arrive after a few business days, the person who paid needs to contact the bank that sent it, not the receiving bank. Request from the sender the payment receipt including the reference.

Choosing between the 3 SWIFT codes of Samsung Electronics Philippines Corp.

Samsung Electronics Philippines Corp. uses 3 different SWIFT/BIC codes. Only one is the head office code, SECTPHM1XXX; the rest belong to branches or departments.

For most incoming transfers, the head office code SECTPHM1XXX is the right choice. A branch code only makes sense if the account holder specifically mentions it.

The safest route is to copy the code straight from the recipient’s bank details. Codes for branches are more prone to be retired than SECTPHM1XXX.

Getting paid from abroad into a Samsung Electronics Philippines Corp. account

When you expect money from abroad, give the sender everything they need in one go. Give them the account holder’s name, your account number or IBAN, SWIFT code SECTPHM1XXX and your address, which some banks require.

You can include Samsung Electronics Philippines Corp. and its city too. Check the details before you share them.

Expect that the incoming amount is smaller than the amount on the sender’s receipt. Charges on incoming payments vary from bank to bank – the price list of Samsung Electronics Philippines Corp. tells you what applies. Agree with the sender who pays which costs before the money is sent.

Verifying the SWIFT code of Samsung Electronics Philippines Corp.

The most reliable source for the BIC is the bank details provided by the recipient – an invoice, a statement or a screenshot from online banking. When the code you were given does not match SECTPHM1 or SECTPHM1XXX, stop and ask.

Mistakes in the SWIFT code tend to be annoying rather than disastrous: often the payment comes back, minus fees. Do not forget the account number: a mistake there is harder to undo than a wrong code.

An automatic check in your banking app only confirms that the IBAN exists – not that it belongs to the person you mean to pay. If your bank offers it, a name check on the recipient gives an extra layer of safety. Sending a small amount first can be a sensible step for a large first payment, even if it costs an extra fee.

International transfers from Samsung Electronics Philippines Corp.: the real cost

What you pay for an international transfer is made up of several parts, and the transfer fee is only the most visible one. There is the fee for the transfer itself, possibly fees charged by intermediary banks along the way and, above all, the exchange rate markup.

Many banks rarely show their exchange rate markup as a cost. Check their rate with the mid-market rate. The difference is your real conversion cost.

Specialist money transfer services frequently offer rates closer to the mid-market rate and lower fees. On GoldexPay you can compare what recipients receive across providers. You can still use your account at Samsung Electronics Philippines Corp. as the source of the money.

Protect yourself against fake payment requests

Be alert if someone unexpectedly wants you to pay into another account or a bank in another country. A correct SWIFT code tells you nothing about whether the request is genuine.

Never rely on a phone number in the same message that contains the change. Urgency or requests to keep it quiet are warning signs; a genuine business can wait for you to check. When a payment has already gone to a fraudster, contact your bank immediately: the sooner they act, the better the chance of a recall.

People receiving money are targeted too: one known trick is an overpayment and then sends a request to send back the difference to another account. Do not act before the money is actually in your account and check with Samsung Electronics Philippines Corp. if anything seems off.

What the XXX in SECTPHM1XXX means

A BIC is made up of fixed blocks: characters one to four stand for the bank, the next two give the country and the two after that mark the location. In this case, that core is SECTPHM1.

Most banks and apps accept both lengths. If a form requires eleven characters, use SECTPHM1XXX.

Do not add spaces when you enter SECTPHM1; the code is always written in one block. Copying the code beats typing it by hand, because one wrong letter changes the bank.