Tuesday, December 09, 2008

Send Money to the Philippines: Bank SWIFT Codes Wire Transfer

For people working or living outside the Philippines e.g.expats and OFWs wishing to send money to the Philippines via Wire Transfer (or Telegraphic Transfer, TT), the recipient should at least have a bank account at a Philippine bank participating in SWIFT (not all local banks participate) though you can request a bank to transfer to money to your bank of choice for certain fee or bank commission.

You need these information about the recipient and his/her bank details:

Bank Name:
Bank Branch/Location:
Account Name:
Account Code:

For the Bank SWIFT CODE, here's a listing of verified SWIFT CODES directly from the official SWIFT website, not just copied from the BSP Philpass document

Allied Banking Corporation ABCMPHMM
American Express Bank Philippines - AMEXPHMM
Asia United Bank Corporation AUBKPHMM
Australia and New Zealand Bank ANZBPHMX
Banco De Oro Universal Bank BNORPHMM
Bank of America NA Manila BOFAPH2X
Bank of China Manila Branch BKCHPHMM
Bank of Commerce PABIPHMM
Bank of the Philippine Islands BOPIPHMM (BPI)
Bank of Tokyo Mitsubishi Ltd. BOTKPHMM
BSP Payments and Settlements PHCBPHMD
Chemical Bank Mla Branch JP CHASPHMM
China Banking Corporation CHBKPHMM
ChinaTrust Phil Commercial Bank CTCBPHMM
Citibank Cash Department CITIPHMXPRA
Citibank NA Manila Branch CITIPHMX
CitiBank Treasury Unit CITIPHMXTSU
Deutsche Bank AG DEUTPHMM
Development Bank of the Philippines DBPHPHMM
East West Banking Corporation EWBCPHMM
Equitable PCI Bank PCIBPHMM
Export and Industry Bank EAIBPHMM
Hong Kong and Shanghai Bank HSBCPHMM
International Comm Bank of China ICBCPHMM
International Exchange Bank INXBPHMM
Korea Exchange Bank KOEXPHMM
Land Bank of the Philippines TLBPPHMM
Maybank Philippines Incorporated MBBEPHMM
Metropolitan Bank & Trust Co. MBTCPHMM
Mizuho Corporate Bank MHCBPHMM
Philippine Bank of Communications CPHIPHMM
Philippine National Bank PNBMPHMMTOD
Philippine Veterans Bank PHVBPHMM
Philtrust Bank PHTBPHMM
Prudential Bank PILBPHMM
Rizal Commercial Banking Corp RCBCPHMM
Security Bank and Trust Corp SETCPHMM
Standard Chartered Bank SCBLPHMM
Union Bank of the Philippines UBPHPHMM
United Coconut Planters Bank UCPBPHMM
United Overseas Bank Philippines UOVBPHMM

Universal banks with foreign branches e.g. Metrobank has different SWIFT Code for the branches e.g. Shanghai and Kaohsiung (China), Tokyo (Japan), Taipei (Taiwan), and New York (USA).

Please don't ask the SWIFT code of you bank branch. Philippine Banks SWIFT Code are the same unless the branch is in a foreign country

Allied bank Swift Code, AMEX Swift Code, BDO Swift Code, Chinabank Swift Code, DBP Swift Code, HSBC Swift Code, Metrobank Swift Code, PBB Swift Code, PNB Swift Code, RCBC Swift Code, UCPB Swift Code

No information yet on the lowest rates and cheapest way to send money to the Philippines

Some banks maintain correspondent banking relationships to send/receive money

If your bank is not listed here, you may query the official SWIFT database at their website: http://www.swift.com

About Swift:

"SWIFT is the Society for Worldwide Interbank Financial Telecommunication, a member-owned cooperative through which the financial world conducts its business operations with speed, certainty and confidence. Over 8,300 banking organisations, securities institutions and corporate customers in more than 208 countries trust us every day to exchange millions of standardised financial messages."

There's still no information on the cheapest way to send money to the Philippines. Future posts will focus on remittance charges and money transfer rates.

1 comment:

  1. It also important that the sender know the latest Philippine Peso Exchange Rate to help him how much amount he will send and when is the proper time to send it.