Samsung Electronics America, Inc. SWIFT/BIC code

SECTUS31 – the SWIFT/BIC code of Samsung Electronics America, Inc.

SECTUS31 and SECTUS31XXX are two ways of writing the same SWIFT/BIC code, and both lead to Samsung Electronics America, Inc. in New Jersey,nj. A BIC does one job: it ensures that money from abroad ends up at the right bank. It comes up mainly when dealing with payments that cross a border and payments in foreign currencies.

On this page we explain what the code means, when it matters and which other details you need for a transfer to or from Samsung Electronics America, Inc.. The SWIFT code on its own cannot identify an individual account holder; for that you need the IBAN or account number is for.

Is SECTUS31 still correct? How to check

The safest source for the BIC is the recipient’s own bank details: an invoice, a bank statement or their online banking. Check it with SECTUS31 on this page; if they differ, ask before you pay.

With a wrong code, the payment may get stuck, bounce back or end up costing more, and tracing it can take weeks. Do not forget the account number: an error there is harder to undo than a wrong BIC.

A validity check in your banking app merely confirms that the code exists. Some banks now check the name with the account; take any warning seriously. For a first payment, many people start with a small amount first and wait for confirmation.

What to give a sender who pays you at Samsung Electronics America, Inc.

For a transfer from abroad at Samsung Electronics America, Inc., the sender needs not just the BIC. Share the account holder’s name, the IBAN or account number, the BIC SECTUS31XXX and your address.

You can include the bank name and its city as well, since some forms ask for it. A typo in your account number can be harder to fix than it looks.

Money from abroad will not always arrive in full. Correspondent banks can take a fee, and when currencies differ, a markup on the rate comes on top. Make clear with the sender who pays which costs, especially for larger amounts.

What a transfer from Samsung Electronics America, Inc. abroad really costs

When you transfer money abroad from Samsung Electronics America, Inc., the visible fee is rarely all of what you pay. On top of the transfer fee, correspondent or intermediary banks may deduct a fee, and if currencies are converted the bank often uses a rate below the real market rate.

The markup on the rate tends to be the biggest cost even though it is not listed as a fee. Check the rate you are offered with the mid-market rate.

Specialist money transfer services frequently use rates closer to the mid-market rate and lower fees. GoldexPay compares what recipients receive with different providers. Using a transfer service does not require leaving Samsung Electronics America, Inc..

Watch out for payment fraud

A common scam goes like this: you receive a message claiming that a supplier now has new bank details. That SECTUS31 is a real code is no guarantee that the account is legitimate – fraudsters use real bank codes as well.

Always verify changed bank details through a phone call, using a number you already had. Pressure and secrecy are warning signs. If money was sent to a fraudster, call your bank right away.

People receiving money can be targeted as well: a classic trick is an overpayment followed by a request to send back the difference to another account. A payment confirmation from the sender proves nothing.

What the XXX in SECTUS31XXX means

The structure of every SWIFT code never changes: four characters for the institution, a two-letter country code and a two-character location code. For Samsung Electronics America, Inc., that core is SECTUS31.

Many payment forms work with both lengths. If yours asks for eleven characters, use SECTUS31XXX.

Do not add spaces, dots when you enter SECTUS31 or SECTUS31XXX. A single letter can send the money to a different institution, so check it twice.

Paying into Samsung Electronics America, Inc. in USD

Most accounts at Samsung Electronics America, Inc. are typically held in USD, the national currency of United States. A payment in a foreign currency will be converted into USD before it reaches the account – and the bank that does it picks the rate. There is rarely a separate charge for the conversion – the cost sits in the rate.

Where the conversion happens has an effect on the final amount. Compare how much USD arrives with different providers.

Rates for USD move all the time, and some providers let you lock in a rate. On larger amounts, a seemingly small difference in the rate adds up quickly.

About this information

The directory on GoldexPay is compiled from publicly available sources and we update it periodically. Institutions merge, close branches and retire codes. Figures such as the number of codes are from our own dataset and are not confirmed by Samsung Electronics America, Inc..

See the information here as a handy check, and let the details from the recipient or Samsung Electronics America, Inc. have the final say. GoldexPay has no connection to Samsung Electronics America, Inc.. Should you notice something that is out of date, we appreciate a message via the contact page.

How long does an international transfer to Samsung Electronics America, Inc. take?

How fast a transfer reaches Samsung Electronics America, Inc. depends on several factors: the currency, how many intermediary banks are involved, daily processing deadlines and differences in time zone. Transfers sent after the cut-off time or on weekends and holidays often start a business day later. Extra checks on larger or unusual payments can also add a delay.

A growing number of banks are connected to SWIFT gpi for faster and traceable payments. Every gpi transfer gets a unique transaction reference, the UETR. Save the payment confirmation; it contains the details a bank needs to start a trace.

The bank that sent the money is able to request a trace – the recipient’s bank often cannot see a payment that has not arrived. Ask the sender for the payment receipt – it helps your own bank look for the money.

Head office or branch code at Samsung Electronics America, Inc.?

Our database contains 11 SWIFT/BIC codes for Samsung Electronics America, Inc. in 2 places. Next to the head office code SECTUS31XXX, you will find codes for regional offices and specialised units.

Usually you do not need to pick a branch: transfers sent to SECTUS31XXX are routed within Samsung Electronics America, Inc. without problems. A branch code only makes sense if the recipient’s bank explicitly asks for it.

The best way is to take the code directly from the account holder’s statement. Branch codes are more likely to change than SECTUS31XXX.