SWIFT/BIC codes in Philippines: banks starting with U

Finding a SWIFT code in Philippines

Here you will find codes for 411 institutions in Philippines, 456 codes in all. Each code identifies an institution or one of its branches and tells other banks where an international payment should go.

Look for the bank you need below and open its page to see the full list of codes. Below the list 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.

The cheapest way to send money to Philippines

If you send money to Philippines via your bank, the stated fee is only part of the cost. On top of a fixed fee, correspondent banks can take a cut, and when the money is converted the bank often uses a less favourable rate than the actual market rate.

That exchange rate margin is often the largest part of the cost because it is hidden in the rate. Compare the rate you are offered with the mid-market rate, the midpoint you see on financial news sites. The difference is your real cost.

Specialist money transfer services often use a rate near the mid-market rate and lower fees. GoldexPay compares transfer services next to each other, showing the amount that reaches the recipient for the same amount sent.

What the letters in a Philippines BIC mean

Each SWIFT/BIC code has eight or eleven characters, always in the same order. The first four letters identify the bank, characters five and six form the country code and the next two give the location.

Whatever the bank, every code from Philippines have the same country code in positions five and six, namely the ISO code of Philippines. Codes with other letters in that position belong to a bank abroad.

If the last three are XXX, it refers to the head office and the short version works just as well. In most cases the head office code is fine unless the recipient asks for a specific branch.

Why a transfer to Philippines needs a SWIFT code

Philippines is outside the SEPA area. International transfers to Philippines normally travel over the SWIFT network – which is why you need the BIC of the recipient’s bank.

Not every country uses IBAN numbers. The recipient’s bank usually has a list of required details for incoming international payments – follow them exactly. On the way to Philippines, a transfer may pass through intermediary banks that charge for their part.

How reliable is this list?

The best place to find the right code remains paperwork issued by the bank. If the code you have differs from the code listed here, stop and ask: check with the recipient or the bank.

We collect SWIFT/BIC codes from public sources and update our list from time to time. Still, banks merge, rename themselves or retire codes, so information can be out of date. Before a payment of any size, confirm the code with the recipient’s bank. We are a comparison site for money transfers and not part of any bank listed here.

Watch out for payment requests with changed bank details. A real SWIFT code tells you nothing about whether a request is genuine – scammers use the codes of real banks.

Filter: banks in Philippines with :letter

Here you see a filtered list: just institutions in Philippines whose name begins with :letter. The totals mentioned above still cover all banks in Philippines.

Cannot find the bank? Its official name may start with a different letter – think of the full legal name instead of the brand. The full overview for Philippines remains one click away if you cannot find the bank here.

Receiving money in Philippines from abroad

When you are waiting for money from abroad on an account in Philippines, give the sender everything they need in one go. In practice that means: your name as your bank knows it, your IBAN or account number, the SWIFT/BIC code of your bank and, often, your postal address.

Look up your bank in the list above and compare the code with your own bank details. Some sending banks also ask for your bank’s address.

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, a markup on the rate comes on top. For business payments, agree who bears the costs, so nobody is left short.

The largest SWIFT network in Philippines: Asiatrust Bank

Among the 411 institutions we list, Asiatrust Bank holds the most SWIFT/BIC codes of all banks in Philippines. Its main office has ATDBPHM1XXX; that is usually the right code for a transfer.

How many codes a bank has says something about how it registers branches and services than about its size. Paying someone at Asiatrust Bank? Go with ATDBPHM1XXX except when a specific branch code is requested.

Philippines and the Philippine Peso

Bank accounts in Philippines are usually held in PHP – the Philippine Peso. Money sent in a different currency will be exchanged into PHP before it reaches the account – and the bank that does it picks the rate.

Who converts the payment matters: every bank has its own margin. Often you pay less if you send PHP straight away via a provider with a good rate so the receiving bank does not need to convert again. On larger amounts, even a small difference in the rate can be worth more than the fee.

Transfer times to Philippines

An international transfer to Philippines typically needs anywhere from one to several business days – it depends on currency, route and the banks in between. Payments made after the cut-off time or on a weekend or public holiday usually go out a business day later.

When a payment takes longer than expected, ask the sender to contact their own bank. Save the payment confirmation until the recipient confirms – you will need it if something goes wrong.