Everything You Need to Know About Bank Swift Codes in the Philippines

Life as an Overseas Filipino Worker (OFW) requires us to learn new things and to adjust to the ways of the new people we work and the country we are based in.

Aside from these things, one thing that never changes is our desire to help out our families through the money we send back home.   

Here’s What You Need to Know About Bank SWIFT Codes in the Philippines

And since you will be sending and receiving money from abroad, or dealing with money remittance and wire transfer, you need to know how to link your bank account to your international money provider correctly.

For this reason, you must know the correct SWIFT code of your local bank in the Philippines to ensure that the money you will be sending will be credited successfully to your Philippine account.

Here are some of the things that you need to know about SWIFT codes:

What is SWIFT Code?

SWIFT means “Society for Worldwide Interbank Financial Telecommunication”. If that’s indicative of what the code is all about, you would then have an idea that a Bank SWIFT code is used to ensure safe and secure financial services around the world.

A SWIFT code standardizes access, integration, identification, analysis and regulatory compliance to communicate securely between financial institutions and related platforms.

Of note, a SWIFT Code can also mean BIC (Business Identifier Code), BIC Code, SWIFT-BIC, or SWIFT ID. This typically consists of 8-11 characters of alphanumeric code.    

How do I Use SWIFT Code?

As mentioned, a SWIFT code standardizes the process of transferring funds overseas to local bank accounts. For this reason, OFWs, freelancers, professionals, and anyone who want to wire transfer their money will benefit from the use of a SWIFT code. 

Basically, there are five (5) things that we need when we transfer money internationally: bank name, account name, account number, SWIFT Code, and the amount being transferred. 

What is the Bank SWIFT Code Format?

  • Bank Code – Four letters
  • Country Code – Two letters
  • Location Code – Two letters or two digits
  • Branch Code –  Last three characters

For example, the Bank Swift Code of BDO (BDO Unibank, Inc.) is BNORPHMM

What are the Bank SWIFT Codes Available in the Philippines?

As of June 2019, here is a list of the Bank SWIFT Codes in the Philippines:

  • ADB (Asiatrust Development Bank) – ASDVPHM1
  • ANZ (Australia and New Zealand) Banking Group Limited – ANZBPHMX
  • AUB (Asia United Bank Corporation) – AUBKPHMM
  • Banco Filipino Savings and Mortgage Bank – FIAOPHM1
  • Bank of America – BOFAPH2X
  • Bank of China – BKCHPHMM
  • Bank of Commerce – PABIPHMM
  • Bank of Makati (A savings Bank), Inc. – MKRUPHM1
  • BDO (BDO Unibank, Inc.) – BNORPHMM
  • BPI (Bank of the Philippine Islands) – BOPIPHMM
  • BPI Direct – BPDIPHM1
  • BPI Family Savings Bank – BPFSPHM1
  • BPI Globe Banko, Inc. – BPGOPHM1
  • Cathay United Bank Co. LTD. – Manila Branch – UWCBPHMM
  • Chinabank (China Banking Corporation) – CHBKPHMM
  • China Bank Savings, Inc. – CHSVPHM1
  • CIMB Bank Philippines, Inc. – CIPHPHM1
  • Citibank, N.A. – Makati Branch – CITIPHMX
  • Citibank, N.A. – Manila Branch – CITIPHMXTSU
  • Citibank, N.A. – Cebu Branch – CITIPHMXCBU
  • Citystate Savings Bank, Inc. – CIVVPHM1
  • CTBC Bank (Philippines) Corporation – CTCBPHMM
  • DBP (Development Bank of the Philippines) – DBPHPHMM
  • Deutsche Bank AG – DEUTPHMM
  • Eastwest Bank (East West Banking Corporation) – EWBCPHMM
  • Equicom Savings Bank, Inc. – EQSNPHM1
  • First Commercial Bank, Ltd., Manila Branch – FCBKPHMM
  • HSBC (Hongkong and Shanghai Banking Corp. Manila Head Office) – HSBCPHMM
  • HSBC (Hongkong and Shanghai Banking Corp. Cebu Branch) – HSBCPHMMCEB
  • HSBC Savings Bank (Philippines) Inc. – HBPHPHMM
  • JPMorgan Chase Bank, N.A. – CHASPHMM
  • Land Bank of the Philippines – TLBPPHMM
  • Maybank Philippines, Inc. – MBBEPHMM
  • Metrobank (Metropolitan Bank and Trust Co.) – MBTCPHMM
  • One Network Bank, Inc. (A Rural Bank) – ONNRPHM1
  • PBCom (Philippine Bank of Communications) – CPHIPHMM
  • Philippine Veterans Bank – PHVBPHMM
  • Philtrust Bank (Philippine Trust Company) – PHTBPHMM
  • Planters Development Bank – PLDEPHM1
  • PNB (Philippine National Bank) – PNBMPHMM
  • PNB (Philippine National Bank) – Treasury Operations – PNBMPHMMTOD
  • PNB Savings Bank – PNSAPHM1
  • Philippine Business Bank – PPBUPHMM
  • PSBank (Philippine Savings Bank) – PHSBPHMM
  • RCBC (Rizal Commercial Banking Corporation) – RCBCPHMM
  • RCBC (Rizal Commercial Banking Corporation) – FCDU – RCBCPH21
  • RCBC Savings Bank, Inc. – RCSAPHM1
  • Robinsons Bank Corp. – ROBPPHMQ
  • Security Bank Corp. – SETCPHMM
  • Standard Chartered Bank – SCBLPHMM
  • Standard Chartered Bank – Custodial Dept. – SCBLPHMMEQI
  • Sterling Bank of Asia, Inc. – STLAPH22
  • UCPB (United Coconut Planters Bank) – UCPBPHMM
  • UCPB Savings Bank, Inc. – UCSVPHM1
  • Unionbank (Union Bank of the Philippines) – UBPHPHMM
  • United Overseas Bank Limited – UOVBPHMM

What Happens/What to Do if I Enter the Wrong SWIFT Code?

If you have entered the wrong bank SWIFT Code, you may be charged with fees. Although the fund won’t be sent to the wrong person, you need to inform your bank (money sender) immediately to avoid bigger problems. 

Remember to double-check and provide the correct BIC or bank Swift code before sending your money to any account recipient or local bank account to avoid penalties and/or failed fund transfers.

With today’s technology, the world has become more accessible to everyone. This can be greatly noted with the way we communicate and support ourselves and our families through the money we earn from work overseas.  

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