Samsung Gulf Electronics Co., LTD. SWIFT/BIC code

SECTAEA1 – the SWIFT/BIC code of Samsung Gulf Electronics Co., LTD.

Whether you are given SECTAEA1 or SECTAEA1XXX, you are looking at the identical address for Samsung Gulf Electronics Co., LTD. in United Arab Emirates. A SWIFT code tells every bank in the chain which institution should receive the money, much like a postcode for banks. In daily life you mostly come across it on international invoices, in your banking app and on the account details of Samsung Gulf Electronics Co., LTD. customers.

On this page you can read what the code means, when it matters and which other details you need for a transfer to or from Samsung Gulf Electronics Co., LTD.. The SWIFT code alone does not identify an individual account holder; for that you need the IBAN or account number is for.

United Arab Emirates Dirham (AED) and conversion costs

The currency in United Arab Emirates is the United Arab Emirates Dirham (AED). If you send money in a different currency gets converted at some point – by your bank, by Samsung Gulf Electronics Co., LTD. or by a bank in between. Every conversion costs something.

Who does the conversion affects the final amount, as rates and margins differ per bank. In many cases you pay less if you send AED directly via a transfer service with a good rate rather than letting the receiving bank convert.

The AED rate changes throughout the day. On larger amounts, a small difference in the rate can be worth more than the fee.

How to check SECTAEA1 before you pay

Have the recipient send you their account details straight from a recent statement. When the code you were given does not match SECTAEA1 or SECTAEA1XXX, do not guess – contact the recipient or Samsung Gulf Electronics Co., LTD..

With a wrong code, the transfer may be delayed, be returned or cost extra, and tracing it can take weeks. Do not forget the IBAN: a mistake there can be more difficult to correct than a wrong code.

Most online banking apps check the structure of IBANs and sometimes look up the BIC automatically, but that does not prove the account belongs to the right person. If your bank offers it, a payee name check on the recipient adds an extra layer of safety. Sending a small amount first can be worth it for a large first payment.

Where our SWIFT data comes from

Our SWIFT/BIC directory is compiled from publicly available sources and is updated regularly. Still, banks merge or change codes and our data may lag behind. The number of codes on this page reflect our own data.

Treat the information here as a helpful check. GoldexPay has no connection to Samsung Gulf Electronics Co., LTD.; we are a comparison site for money transfers. Spotted outdated information? Tell us through the contact page so we can correct it.

Scams that use SWIFT codes

Criminals regularly use fake invoices with new bank details sent from what looks like a familiar address. That SECTAEA1 is a real code does not mean that a request mentioning it is genuine – fraudsters use real bank codes as well.

Always verify a change of bank details by phone on a number you know, not one from the message. Pressure and secrecy are red flags – a real supplier can wait a day. If a payment was sent to the wrong account, call your bank right away.

Fraud also target the receiver. Someone sends too much and wants you to refund the difference. A screenshot of a transfer is no proof.

Samsung Gulf Electronics Co., LTD.: head office code versus branch codes

Samsung Gulf Electronics Co., LTD. has 2 separate SWIFT/BIC codes across 1 cities. One of them is the head office code; the others identify branches, and sometimes specific services.

For most payments to a private or business account, the head office code SECTAEA1XXX is what you need. A branch code only makes sense when the recipient’s bank specifically asks for it, which is more common for business accounts and trade services.

When in doubt, ask the person you are paying which code their bank gave them. Branch codes are sometimes changed or retired over time, so do not rely on old paperwork.

What to give a sender who pays you at Samsung Gulf Electronics Co., LTD.

Someone abroad who wants to pay you needs several details from you, and missing ones are a common cause of delays. Give them the account holder’s name, your account number or IBAN, the BIC SECTAEA1XXX and your address, which some banks require.

Some sending banks also ask for the address of Samsung Gulf Electronics Co., LTD. in Dubai, so keep it at hand. Check each detail before you send them, because the sender’s bank usually copies them as is.

Do not be surprised if the incoming amount is below what the sender paid. Correspondent banks can take a fee and your own bank may charge for processing, and when currencies differ, a markup on the rate comes on top. Agree with the sender who covers the fees, especially for larger amounts.

International transfers from Samsung Gulf Electronics Co., LTD.: the real cost

A bank transfer abroad costs more than the listed fee. There is the fee for the transfer itself, possibly charges from correspondent banks in between and, most importantly, the margin on the exchange rate when the money is converted.

That exchange rate margin tends to be the largest item even though it is not listed as a fee. An easy check: put the rate you get next to the mid-market rate and work out the difference on your amount.

Specialised transfer providers frequently use a rate near the mid-market rate. Before your next transfer, it is worth comparing the total cost on GoldexPay rather than accepting the bank’s rate by default. Choosing a specialist does not mean closing your account at Samsung Gulf Electronics Co., LTD.: you simply pay the service from your account.

Why Samsung Gulf Electronics Co., LTD. has an 8- and an 11-character code

A SWIFT code is made up of fixed blocks: the first four letters identify the bank, characters five and six give the country and the two after that mark the location. In this case, the 8-character core is SECTAEA1.

The 11-character version adds a three-character extension that identify a branch or department. If the last three are XXX, they simply mean the head office, so SECTAEA1XXX and SECTAEA1 are interchangeable.

In practice the code is written in capitals. Look out for the letter O and the digit 0 and I versus 1.

When will the money arrive at Samsung Gulf Electronics Co., LTD.?

An international transfer usually takes one to a few business days – it depends on currency, route and the banks in between. Bank holidays in either country add a day or more to the journey. Occasionally a bank wants to know about the purpose of a payment, which can hold things up.

A growing number of banks use SWIFT gpi. Each payment carries a unique reference, the UETR. Specialist transfer services often provide tracking online showing how far the payment is.

A delayed transfer has to be traced from the sending side, using the payment confirmation. As a recipient, it helps to check your statements for a slightly lower amount.