When a money transfer is done from one country to another, a Swift Code or Bank Identifier Code (BIC) is required to make sure that the money goes to the right place and the right recipient.
What is Swift Code?
SWIFT stands for Society for Worldwide Interbank Financial Telecommunication.
Whether you’re sending cash abroad or you’re receiving money from abroad you need to get the SWIFT code of the sender and recipient’s bank before you can make a money transfer.
What is BIC?
BIC stands for Bank Identifier Code. The BIC tells banks and remittance companies where to send the money.
What to Use: Swift Code or BIC?
Banks often use the Bank Identifier Code (BIC) instead of the SWIFT code.
However, the BIC and Swift Code are easily interchangeable because both of these codes contain a mix of letters and numbers and are generally between eight and 11 characters in length.
A BIC is sometimes called a SWIFT code, SWIFT BIC, BIC SWIFT, or SWIFT ID. All of these mean the same thing and this code is used to identify a specific bank in an international transaction, to make sure the money is going to the correct place.
Why is the Swift Code Required when Transferring Money?
A Swift Code is required when transferring money from one country to another (especially from banks) in order to wire funds to the receiving bank.
The swift code is also utilized as a means of communication.
SWIFT CODES use the following system in designating a bank’s code:
- Institution Code or bank code = Four letters
- Country Code = Two letters
- Location Code = Two letters or two digits
- Local Branch Code = Last three characters
For example:
The BPI branch located in AYALA AVENUE, CORNER PASEO DE, ROXAS, MAKATI METRO MANILA, has a SWIFT code of BOPIPHMM. When broken down, it looks like this:
- Bank Code: BOPI (Bank of the Philippine Islands)
- Country Code: PH (Philippines)
- Location Code: MM (Metro Manila)
Some banks have additional characters at the end to specify their branch.
For example, the Treasury Group branch of BPI has the following SWIFT code:
- BOPIPHMMTRY (“TRY” to indicate “Treasury”)
List of SWIFT Codes (or BIC) of Philippine Banks
| BANK NAME | SWIFT CODE |
| ASIA UNITED BANK CORPORATION | AUBKPHMM |
| AUSTRALIA AND NEW ZEALAND (ANZ) BANKING GROUP LIMITED | ANZBPHMX |
| BANK OF COMMERCE | PABIPHMM |
| BANK OF THE PHILIPPINE ISLANDS (BPI) | BOPIPHMM |
| BANCO DE ORO (BDO) UNIBANK | BNORPHMM |
| CHINA BANKING CORPORATION (CHINABANK) | CHBKPHMM |
| CHINATRUST (PHILS.) COMMERCIAL BANK MANILA | CTCBPHMM |
| CITIBANK N.A. (CEBU BRANCH) | CITIPHMXCBU |
| CITIBANK N.A. (MANILA HEAD OFFICE) | CITIPHMXV |
| CITIBANK SAVINGS INC. | CITIPH2X |
| DEVELOPMENT BANK OF THE PHILIPPINES (DBP) | DBPHPHMM |
| EAST WEST BANKING CORPORATION | EWBCPHMM |
| HONGKONG AND SHANGHAI BANKING CORP. (HSBC) CEBU BRANCH | HSBCPHMMCEB |
| HONGKONG AND SHANGHAI BANKING CORP. (HSBC) MANILA HEAD OFFICE | HSBCPHMM |
| HSBC SAVINGS BANK (PHILIPPINES) INC. | HBPHPHMM |
| LAND BANK OF THE PHILIPPINES | TLBPPHMM |
| MAYBANK PHILIPPINES INC | MBBEPHMM |
| METROPOLITAN BANK AND TRUST CO. (METROBANK) | MBTCPHMM |
| PHILIPPINE BANK OF COMMUNICATIONS (PBCOM) | CPHIPHMM |
| PHILIPPINE BUSINESS BANK (PBB) | PPBUPHMM |
| PHILIPPINE NATIONAL BANK (PNB) | PNBMPHMM |
| PHILIPPINE SAVINGS BANK (PS BANK) | PHSBPHMM |
| PHILIPPINE VETERANS BANK | PHVBPHMM |
| PHILTRUST BANK (PHILIPPINE TRUST COMPANY) | PHTBPHMM |
| RIZAL COMMERCIAL BANKING CORPORATION (RCBC) | RCBCPHMM |
| ROBINSONS BANK CORPORATION | ROBPPHMQ |
| SECURITY BANK CORPORATION | SETCPHMM |
| STANDARD CHARTERED BANK | SCBLPHMM |
| UNION BANK OF THE PHILIPPINES | UBPHPHMM |
| UNITED COCONUT PLANTERS BANK (UCPB) | UCPBPHMM |
Bank Codes in the Philippines
What is Bank Code?
A bank code is a nine-digit code assigned to a bank used for identifying its name, city, and country in financial transactions. This code is the standard bank identifier for sending and receiving money in the Philippines. This is also called the Bank Routing Symbol Transit Number (BRSTN).
When To Use a Bank Code?
Bank codes are usually used when withdrawing funds from users’ PayPal account to their local bank account.
When you first added a bank account to your PayPal account for transferring funds, it asked for the bank code.
How to Find the Bank Code
In the screenshot above, you’ll see that there’s a link to see the list of bank codes in the Philippines.
Just log in to your Paypal account, and follow these instructions to see the list of bank codes:
- Click Wallet on the top menu.
- Under Bank accounts, click Link a bank account.
- Click the Add button.
- Click on the List of bank codes link next to the Bank Code field.
List of Bank Codes of Philippine Banks
Here’s the list of bank codes in the Philippines:
Bank |
Bank Code |
|---|---|
| Asia United Bank Corporation (AUB) | 011020011 |
| Australia and New Zealand Banking Group Limited | 010700015 |
| Bangkok Bank Public Company Limited | 010670019 |
| Bank of America, N.A. | 010120019 |
| Bank of China | 011140014 |
| Bank of Commerce | 010440016 |
| Bank of the Philippine Islands (BPI) | 010040018 |
| Bank of Tokyo-Mitsubishi, Limited | 010460012 |
| BDO Unibank, Inc. (BDO) | 010530667 |
| China Banking Corporation (China Bank) | 010100013 |
| China Bank Savings, Inc. | 011129996 |
| Citibank, N.A. | 010070017 |
| CTBC Bank (Philippines) Corp. | 010690015 |
| Deutsche Bank AG | 010650013 |
| Development Bank of the Philippines (DBP) | 010590018 |
| East West Banking Corporation (EastWest Bank) | 010620014 |
| Equicom Savings Bank, Inc. | 010960017 |
| First Consolidated Bank | 020780012 |
| The Hongkong and Shanghai Banking Corporation Ltd – Philippine Branch (HSBC Philippines) | 010060014 |
| Industrial Bank of Korea | 011310019 |
| JPMorgan Chase Bank, N.A. | 010720011 |
| KEB Hana Bank | 010710018 |
| Land Bank of the Philippines | 010350025 |
| Maybank Philippines, Inc. | 010220016 |
| Mega International Commercial Bank Co., Ltd. | 010560019 |
| Metropolitan Bank and Trust Co. (Metrobank) | 010269996 |
| Mizuho Bank, Ltd. | 010640010 |
| MUFG Bank (formerly Bank of Tokyo-Mitsubishi UFJ) | 010460012 |
| Philippine Bank of Communications (PBCOM) | 010110016 |
| Philippine National Bank (PNB) | 010080010 |
| Philippine Savings Bank (PSBank) | 010470992 |
| Philippine Veterans Bank | 010330016 |
| Philippine Trust Company | 010090039 |
| Rizal Commercial Banking Corporation (RCBC) | 010280014 |
| Robinsons Bank Corporation | 011070016 |
| Security Bank Corporation | 010140015 |
| Shinhan Bank | 011300016 |
| Standard Chartered Bank | 010050011 |
| Sterling Bank of Asia Inc. | 011190019 |
| Sumitomo Mitsui Banking Corporation | 011280013 |
| Union Bank of the Philippines | 010419995 |
| United Coconut Planters Bank (UCPB) | 010299995 |
| United Overseas Bank Philippines | 010270341 |
| Yuanta Savings Bank (Formerly Tong Yang Savings Bank) | 011130011 |
FAQs about Swift Code or BIC
Q: I can’t find the bank’s swift code on the list, what should I do?
If you can’t find your bank on the list, it maybe because PayPal doesn’t authorize withdrawals to your bank. You may also call your bank immediately to verify the code and ask for assistance.
Or, you may want to consider using another bank account or open a new one so that you can have a swift code that is acceptable to your recipient or the bank that is trying to send money to you.
Q: What’s the difference between Swift Code and IBAN?
A SWIFT code is used to identify a specific bank during an international transaction, whereas IBAN is used to identify an individual account involved in the international transaction. Both play an essential role in the smooth running of the international financial market. (Source)
- IBAN – International Bank Account Number
- SWIFT code – Society for Worldwide Interbank Financial Telecommunication
Q: What is BDO IBAN number?
BDO IBAN Number 010530667
Q: What is BPI IBAN number?
BPI IBAN Number 10040018
Q: What is the Swift Code Checker?
Visit the SWIFT website to search for your particular bank.
Frequently Asked Banks Codes and Swift Codes of Banks
- Swift Code HSBC – HBPHPHMM
- Swift Code BPI – BOPIPHMM
- Swift Code PNB – PNBMPHMM
- Swift Code SBI – SBININBBXXX
- Swift Code Commonwealth Bank – CTBAAU2S
- Swift Code Bank of America – BOFAUS3N should be used for incoming wires in U.S. dollars. Bank of America’s SWIFT code BOFAUS6S should be used for incoming wires in foreign currency.
- Swift Code Wells Fargo – WFBIUS6S
- Swift Code Chase – CHASUS33
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