Bank Codes And SWIFT Codes In The Philippines
Chances are, you’ve come across Bank Codes and SWIFT codes at some point in your life. Whether it’s sending money abroad or transferring funds out of your PayPal account.
While both codes are essential for bank transactions, Bank Codes and SWIFT codes are two separate identification numbers that have their own specific uses. In this article, we explain the difference between the two.
What is a Bank Code?
In a nutshell, a bank code is a set of numbers that are used to identify a bank locally. This code is normally used for local wire transfers and bank transactions. In the Philippines these are referred to as the Bank Routing Symbol Transit Numbers or BRSTN.
They are not the same as International Bank Account Numbers (IBAN). A BRSTN identifies the name of the bank you are dealing with, while an IBAN identifies individuals instead.
Bank codes in the Philippines
These codes are normally available on your bank statement or even on your bank’s website. However, it’s not always easy to find these numbers if you’re in a hurry. To make your life easier, we’ve done the homework so you don’t have to.
|Bank Name||Bank Code|
|ALLIED BANKING CORP||010320013|
|ASIA UNITED BANK||011020011|
|BANGKO SENTRAL NG PILIPINAS||010030015|
|BANCO DE ORO (& EPCIB)||010530667|
|BANK OF COMMERCE||010440016|
|BANK OF THE PHIL ISLANDS (BPI)||010040018|
|CHINA BANKING CORP||010100013|
|CHINA TRUST COMML BANK||010690015|
|DEVT BANK OF THE PHILS||010590018|
|EAST WEST BANK||010620014|
|EXPORT & INDUSTRY BANK||010860010|
|LANDBANK OF THE PHILS||010350025|
|MAYBANK OF THE PHILS||010220016|
|PHIL BANK OF COMMUNICATION||010110016|
|PHIL TRUST COMPANY||010090039|
|PHIL NATIONAL BANK (PNB)||010080010|
|PHIL VETERANS BANK||010330016|
|SECURITY BANK & TRUST CO||010140015|
|STANDARD CHARTERED BANK||010050011|
|UNITED COCONUT PLANTERS BANK||010299995|
|UNION BANK OF THE PHILS||010419995|
|UNITED OVERSEAS BANK||010270189|
What is a SWIFT Code?
SWIFT Code stands for Society for Worldwide Interbank Financial Telecommunication and is a combination of letters that are used to identify a bank’s specific branch, they serve as the Bank Identifier Codes (BIC) – every bank has it. These codes are essential in various bank transactions, most of all in international transactions.
While they’re more commonly used to complete a bank transfer, SWIFT codes are also used by banks to transfer other messages or carry out other interbank transactions other than money transfer.
A SWIFT code is eight to eleven digits and is made up of the following components:
- The first four characters are composed of letters – which are used as the bank’s specific code.
- The next two (fifth and sixth) characters are also made of letters and tell you where the bank is located. For example, banks located in the Philippines would have PH here.
- The seventh and eighth characters are a mix of both numbers and letters, which signifies location-based codes (In this case, you would know that a bank branch is Metro Manila if it ends with MM).
- There are sometimes three additional three characters. These are optional and are used to give details about the branch code.
SWIFT Codes are also called Bank Identified Code (BIC), and are usually used during international bank wire transfers. Currently, there are more than forty thousand SWIFT codes all over the world.
While wire transfers are convenient, However, using SWIFT codes may also equate to a high fee, depending on the ongoing rates at the time of the transaction.
SWIFT codes in the Philippines
SWIFT codes are most commonly used to transfer funds overseas. However, you may also need them if you want to transfer money out of your PayPal (or similar digital wallet) service.
The good news is, you don’t need to ask your bank for their bank code, we’ve listed the SWIFT codes for banks in the Philippines for you.
|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 vs SWIFT codes
While both codes are used for wire transfers the difference between the two is the origin of the transaction. Bank codes are used for local wire transfers, meanwhile, SWIFT codes are used for international wire transfers.
If you’re sending money from the Philippines to a Philippine bank, you use a Bank Code. If you’re sending money from an overseas bank or financial institution like Paypal, you use a SWIFT code.