Complete List of Philippine Banks and Their SWIFT Codes

In a world where financial transactions cross borders with increasing regularity, understanding the intricacies of SWIFT codes is more important than ever. These codes serve as a critical tool for enabling international money transfers, thereby ensuring that funds reach the correct destination safely.

However, many Filipinos often struggle with the complexities of SWIFT codes, particularly when dealing with Philippine banks. Therefore, this blog sheds light on various aspects of SWIFT codes, including their structure, purpose, and impact on international money transfers.

Additionally, you'll also learn about the differences between bank codes and SWIFT codes, the role of digital banks, and emerging payment transfer methods. With clarity and insights, this guide aims to help you navigate the world of SWIFT codes easily and accurately in the Philippines.

Understanding SWIFT Codes - Uses and Advantages

When it comes to sending money across borders, SWIFT codes are an essential tool. Banks and financial institutions use these standardized identifiers, or Bank Identifier Codes (BIC), for international money transfers. Their significance lies in providing a unique identifier for the banks involved, ensuring that your funds reach the correct destination safely and efficiently.

Each SWIFT code is composed of 8 to 11 alpha-numeric characters that specify different aspects of the bank and its location. The structure is quite systematic:

• Bank Code (4 letters): This is an abbreviation of the bank's name, providing immediate identification of the financial institution.
• Country Code (2 letters): This indicates the country where the bank is located, which is crucial for international communication.
• Location Code (2 letters or numbers): This portion identifies the bank's head office, ensuring that the transaction is processed through the correct entity.
• Branch Code (3 letters or numbers, optional): Although optional, this adds another layer of specificity, particularly useful for larger banks with multiple branches.

SWIFT codes also play an indispensable role in international transactions. They ensure accuracy and security in transactions, systematically directing funds to their intended institution. Moreover, these codes expedite transfers, often completing them within hours, which is significantly faster than traditional methods. Additionally, with over 11,000 financial institutions in more than 200 countries connected via SWIFT, the global reach is unparalleled.

Another key advantage of using SWIFT codes is the transparency and traceability they provide. Parties involved in a transaction can track the progress and status of payments, enhancing trust and reducing the likelihood of errors. SWIFT codes contribute to cost savings compared to other international money transfer methods, making them an economical choice for sending money abroad.

In the Philippines, where international remittance is a vital financial activity, having accurate SWIFT codes is critical. For those looking to engage in cross-border transactions, these codes are indispensable in ensuring seamless communications and financial exchanges between different banking systems globally.

For more detailed information on Philippine bank SWIFT codes, you can explore further resources like the Lifeguide, which provides comprehensive listings and insights.

Major Philippine Banks and Their SWIFT Codes

The financial landscape of the Philippines is heavily influenced by a number of prominent banks, each of which plays a pivotal role both locally and internationally. Understanding their SWIFT codes is essential for anyone engaging in international financial transactions or managing overseas accounts.

Let's dive into the major banks in the Philippines and their respective SWIFT codes to get a clear understanding:

For the complete list, you can check here.

As explained in a Reddit discussion, BPI uses this SWIFT code for international transactions by clients, which underscores the importance of knowing a bank's SWIFT code over routing numbers in the Philippines when dealing with US clients.

These banks are not just key players in the local Philippine market; they also have a significant presence on the global stage. They enable a myriad of domestic and international transactions that enhance trade and investment flows. Additionally, their SWIFT codes are indispensable for cross-border money transfers as they ensure precision and efficiency.

Complete List of Prominent Philippine Banks and Their SWIFT Codes

Now that we are aware of the SWIFT codes of some of the prominent banks in the Philippines, in this section, we'll take a look at the codes of some of the other banks operating in the country.

For a complete insight into identifying these SWIFT codes, you can watch the YouTube video provided at this link. The video provides a comprehensive list of the SWIFT/BIC codes for banks in the Philippines, aligning with the information shared above.

Also Read: Top 10 Commercial Banks in The Philippines as of 2025

Importance of Acquiring Accurate SWIFT Codes

Accurate SWIFT codes are crucial in ensuring that international money transfers are processed efficiently and without delays. These codes enable secure communication between financial institutions, allowing for swift and accurate processing of payments across borders.

Here, take a look at the key reasons why it's essential to use the correct bank SWIFT code in the Philippines:

1. Ensures Correct Fund Transfer Destination

Using the correct SWIFT code ensures that funds are routed to the intended bank and branch, preventing delays or misdirected transactions. Without the accurate SWIFT code, the payment might be sent to the wrong institution, causing significant issues, including financial losses and time delays for both the sender and receiver.

2. Prevents Transaction Errors and Delays

SWIFT codes serve as identifiers for specific banks and branches. If the wrong code is used, it could lead to errors, causing payment processing delays or failure. This can hinder timely payments, particularly for businesses that rely on international transfers for day-to-day operations. Accurate SWIFT codes are vital to ensure smooth and timely transactions.

3. Enables International Trade and Communication

In global business transactions, accurate SWIFT codes help enable trade by ensuring the seamless exchange of funds. When both sending and receiving banks have the correct code, businesses can rely on secure and efficient financial transactions. This is especially important for international trade, where swift payments are essential to maintain good relationships and trust between partners.

4. Enhances Security of Transactions

Using the right SWIFT code helps enhance the security of international transfers by ensuring the correct banking institution is identified. Incorrect codes can open the door to fraud or unauthorized access to funds. SWIFT codes help ensure that payments are processed securely, reducing the risk of financial crimes or money laundering in the transfer process.

5. Complies with International Banking Standards

Financial institutions worldwide use SWIFT codes to comply with international banking standards and regulations. By using the correct SWIFT code, companies and individuals adhere to global standards of financial communication, which is essential for maintaining credibility and compliance in the international banking system.

Also Read: Top 10 Fintech Startups in The Philippines as of 2025

Bank Codes vs. SWIFT Codes - Key Differences

Understanding the difference between bank codes and SWIFT codes is crucial for anyone dealing with financial transactions, whether domestically or internationally. At their core, both serve unique roles in the banking system, ensuring that your funds reach the right destination efficiently and securely.

Here's an overview of the key distinctions between bank codes and SWIFT codes in the Philippines:

Understanding SWIFT Code Transaction Types in The Philippines

The application of these codes depends largely on the type of transaction you want to carry out. Here's a glimpse at the two prominent types:

• Domestic Transfers: Within the Philippines, BRSTN is your go-to code. It ensures precise routing for transactions between local banks.
• International Transfers: Here, the SWIFT code takes the lead. While executing international remittances to the Philippines, you might need both the BRSTN and SWIFT codes, depending on the transfer method and the sending bank's requirements.

Interestingly, unlike the UK, where sort codes are used alongside IBANs to identify bank and branch transactions, Philippine banks use a combination of BRSTN and account numbers. When international parties are unfamiliar with this deal with you, they might ask for a sort code. In such cases, according to a relevant Reddit discussion, simply indicating 'N/A' when a sort code is requested is appropriate if you don't have a UK bank account.

Also Read: Understanding The Process and Getting Approved for a Car Loan in The Philippines

Digital Banks And Fintech Companies

Digital banks and fintech companies are becoming a cornerstone of the banking ecosystem in the Philippines, introducing an era of modern banking practices that redefine convenience and accessibility. As the Bangko Sentral ng Pilipinas (BSP) officially recognized digital banks in 2020, these institutions have rapidly expanded, transforming how Filipinos interact with their finances.

With a focus on offering comprehensive online services, digital banks allow users to manage their bank accounts, apply for loans, and conduct transactions entirely through mobile apps or websites. This integration eliminates the need for physical branches, streamlining operations and putting financial management literally at users' fingertips.

The incorporation of digital banks has significantly contributed to the rise in digital payment transactions, elevating from 42.1% of total monthly retail payments in 2022 to an impressive 52.8% in 2023. Central to this advancement are institutions like GCash and Maya - both prominent domestic payment platforms - along with other key players:

• CIMB Bank Philippines Inc.: SWIFT code CIPHPHMM
• Alipay Philippines Inc.: SWIFT codes APHIPHM2 and APHIPHM3
• Banana Fintech Services Corporation: SWIFT code BFSRPHM2
• Easypay Global EMI Corp.: SWIFT code EAGMPHM2
• Ecashpay Asia Inc: SWIFT code ECASPHM2

Also Read: Guide to Consider PNB Personal Loans in The Philippines

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SWIFT Codes for Foreign Banks in the Philippines

Foreign banks play a vital role in the Philippines' financial ecosystem, serving as critical conduits for international transactions and delivering global banking services to a diverse customer base. The presence of these international banks in the country significantly enhances the Philippines' position in the global financial network.

Major foreign banks such as Citibank, N.A. (CITIPHMX), HSBC (HSBCPHMM), and Standard Chartered Bank (SCBLPHMM) have established operations locally, offering a range of specialized services to facilitate international commerce and finance. These institutions frequently serve multinational corporations, expatriates, and Filipinos involved in international business or requiring overseas banking solutions.

Other noteworthy foreign banks in the Philippines include Australia and New Zealand Banking Group Limited (ANZBPHMX), Bangkok Bank Public Company Limited (BKKBPHMM), and the Bank of China (BKCHPHMM).

Specialized SWIFT Codes Utilized By Philippine Banks

In the Philippines, specialized SWIFT codes are designed for specific banking services and operations. These codes are distinct from the general SWIFT codes used by banks and serve unique purposes tailored to different service requirements within the same banking institution.

Several banks in the Philippines have developed specialized SWIFT codes to cater to particular departments or service lines. For instance, Citibank's Manila Branch uses the SWIFT code CITIPHMXTSU exclusively for Treasury Services Unit operations. This allows them to efficiently manage complex financial transactions related to treasury services without confusion or misdirection.

Similarly, BPI operates with multiple specialized codes. BPI Direct uses BPDIPHM1 for its direct banking services, while BPI Family Savings Bank has its code, BPFSPHM1, dedicated to family-oriented savings banking operations. Additionally, BPI Globe Banko Inc. uses BPGOPHM1 for its collaborative mobile banking services with Globe Telecom. China Bank Savings, Inc. also follows this trend with CHSVPHM1 as its specialized code, specifically for its savings bank operations.

Example and Impact of Specialized SWIFT Code Usage

One can understand the practicality of these codes through a transaction scenario. Let's say a corporate entity in Manila wishes to engage in treasury services with Citibank. By using the specialized code CITIPHMXTSU, the entity ensures that its transaction goes directly to the treasury department, thereby streamlining operations and enhancing efficiency.

The use of these specialized codes has a significant impact on financial services and operations:

• Improved Routing Accuracy: Specialized codes significantly reduce processing errors and processing times. By ensuring that transactions land on the desks of the right departments, banks can maintain high standards of service reliability.
• Enhanced Service Differentiation: Banks can more effectively target specific customer segments or products by associating them with distinct SWIFT codes. This differentiation enables a more customized and responsive customer experience.
• Streamlined Cross-Border Transactions: For international transactions, specialized codes allow for more efficient processing, ensuring that cross-border dealings are handled with greater accuracy and speed.
• Support for Niche Financial Products: These codes are crucial for the management of particular financial offerings like remittances or trade finance, where accurate tracking and processing are vital.
• Regulatory Compliance: In some cases, specialized SWIFT codes are essential for complying with regulatory requirements, especially for operations that demand detailed reporting and compliance checks.

Furthermore, it's worth noting from a Reddit discussion that banks such as Metrobank generally use a single SWIFT code across all branches, which, in Metrobank's case, is MBTCPHMM. This uniformity underlines the value of specialized codes in directing transactions efficiently within banking networks where multiple branches or services exist.

Also Read: Applying For SSS Business Loans in The Philippines

Finding The Correct SWIFT Code For Banks in The Philippines

Navigating the world of international money transfers can be daunting, especially when it comes to ensuring you have the correct SWIFT code. Using the wrong SWIFT code can lead to delayed or unsuccessful transactions, so it's essential to verify its authenticity before proceeding with any transfers.

1. Consult Official Bank Websites

One of the first steps is to consult the official websites of Philippine banks. Banks typically publish their SWIFT codes in sections dedicated to international banking or remittance services. This is a reliable way to obtain accurate information since banks regularly update their official sites with the latest data.

2. Contact Your Bank Directly

Another effective method is contacting your bank directly. Whether through a phone call to customer service or an in-person visit to a branch, bank representatives can provide you with the most recent SWIFT code. This step is especially beneficial if you're uncertain about information sourced from the internet.

3. Use Online SWIFT Code Checkers

For a more tech-savvy approach, consider using online SWIFT code checkers. Financial services like Wise provide tools where you can input a SWIFT code to confirm its validity and view the associated bank details. Utilizing these tools can help cross-verify information and reduce the chances of errors.

4. Cross-Reference Information

It is also wise to compare your SWIFT code against multiple credible sources. Cross-referencing is a simple yet effective method to confirm the consistency and accuracy of the code. As SWIFT codes are subject to change, it is crucial to use the most up-to-date information. Verify the code each time you plan to make a transaction, recognizing that codes may differ even if you've used them previously.

Also Read: Non-Performing Loan Ratio in Philippine Banks

Understanding The SWIFT Code Formats Used in The Philippines

Pay attention to the format of SWIFT codes for Philippine banks, which typically follow this pattern: XXXXPHMMXXX. Here, XXXX represents the bank code, PH is the country code, MM usually denotes the location code for Metro Manila, and the last three characters might specify a particular branch, although they're often just placeholders in their absence.

To ensure every component of the SWIFT code matches your intended recipient bank, double-check each element, including the bank code, country code, and location code. The SWIFT organization also maintains an official directory of BIC codes, accessible via authorized financial institutions, serving as a reliable resource for verification.

Be Cautious of Online Lists

Be cautious of online lists of SWIFT codes. While they can be a quick reference, they might not always reflect the most current information. Always prioritize obtaining codes from verified financial service providers or directly from official bank sources when possible.

Confirm with the Recipient

Finally, reaching out to the recipient to confirm the SWIFT code before sending money can prevent errors. As discussed in this Reddit thread, slight variations in SWIFT codes, like the inclusion of a branch code, do not usually affect transaction success. However, confirming details beforehand with the recipient can prevent potential issues from arising down the line.

Also Read: CIMB Personal Loan: Things to Know Before Applying

Alternative Payment Transfer Methods Available

In recent years, the landscape of money transfers in the Philippines has been significantly reshaped by emerging methods that offer both speed and cost savings compared to the traditional SWIFT system. These alternatives have gained traction due to their ability to meet a variety of transaction needs more efficiently.

1. Real-Time Payments Systems

Two notable real-time payment systems in the Philippines are InstaPay and PESONet. These systems provide attractive solutions for domestic transactions. Here's a closer look at how they work:

• InstaPay allows for instant fund transfers around the clock, handling amounts up to PHP 50k. This system is ideal for those who require immediate access to transferred funds, as it operates without time constraints.
• PESONet, on the other hand, is designed for larger transactions. It clears payments on the same day, provided they are made before the cut-off time. This makes it a suitable option for bigger sums that do not necessarily require a real-time transfer speed.

Both these systems are more cost-effective than SWIFT for domestic transfers, saving users a considerable amount in fees that would usually accompany international money transfers via traditional banks.

2. Digital Wallets

Digital wallets such as GCash and PayMaya have also become popular in the Philippines. Here's a closer look at how they work:

• GCash offers instant transfers between users and supports bank transfers. It's well-suited for both personal and small business transactions, enabling quick and easy money movement.
• PayMaya provides similar functionalities, with competitive fees, that make it an attractive option for digital payments. These services are particularly beneficial for smaller transfers, where they outperform traditional methods in both speed and cost.

Digital wallets are perfect for those looking to transfer smaller amounts frequently and conveniently, reflecting a trend towards more mobile-centric financial transactions.

Comparison of SWIFT Codes With Alternative Methods - Speed and Cost-Effectiveness

When considering the most efficient method for money transfers, speed and cost are critical factors:

• SWIFT typically takes 3-5 business days for international transactions, with fees ranging from USD 15 - USD 50. It remains a staple for large international transfers due to its vast network.
• InstaPay and PESONet offer significant advantages for domestic transfers, providing same-day or instant solutions with minimal fees, often free for smaller amounts.
• Digital wallets enable instant in-network transfers with exceptionally low fees, making them very attractive for frequent, smaller transactions.

Suitability for Different Transaction Types

Each method offers unique benefits depending on the transaction type:

• Large International Transfers: SWIFT remains the go-to for its reliable global network, ideal for substantial cross-border transactions.
• Domestic Transfers: InstaPay and PESONet are optimal for efficiency and cost, supporting a variety of transaction sizes domestically.
• Small Remittances: Digital wallets excel in carrying out low-cost, rapid transfers, which makes them one of the highly-favored options among overseas Filipino workers sending small sums back home.
• Business Payments: PESONet caters to larger business transactions, while InstaPay is perfect for smaller, urgent payments.

Conclusion

In conclusion, having the correct SWIFT code is essential for ensuring that international wire transfers are processed accurately and efficiently. With the comprehensive list of Philippine banks and their corresponding SWIFT codes, Philippine businesses and individuals can carry out cross-border transactions with ease. This is mainly because knowing these codes helps avoid delays and errors, thereby ensuring a smooth financial experience for both personal and business transactions in the Philippines.

While NBFIs like N90 cannot assist with identifying SWIFT codes, they play a crucial role in supporting Filipino entrepreneurs. N90 offers quickly-approved SME loans, providing essential funding for businesses to grow and scale. Whether it's expanding operations, purchasing equipment, or covering working capital needs, N90's flexible financing options enable entrepreneurs to focus on growing their businesses without the typical delays of traditional banking. Get in touch with us at N90 today to know more.

Frequently Asked Questions (FAQs)

1. Is the PNB SWIFT code the same in all branches in the Philippines?

No, the SWIFT code for the Philippine National Bank (PNB) may vary by branch. While the primary SWIFT code for PNB is PNBMPHMM (for Manila), each branch could have its specific code, especially for international transfers. It's essential to verify the SWIFT code with the branch you're dealing with to ensure accuracy when making transactions.

2. How do I find SWIFT codes of prominent banks in the Philippines?

To find the SWIFT codes of prominent banks in the Philippines, you can visit the official websites of the banks, where they typically list their SWIFT codes for international transactions. Alternatively, you can contact your bank directly or check with your branch. Financial websites and SWIFT directories may also provide SWIFT codes for most banks operating in the Philippines.

3. How do I download a SWIFT code?

To download a SWIFT code, you can visit your bank's official website or financial platforms that provide banking information. Many banks offer downloadable PDF documents or online guides containing SWIFT codes for their branches. Alternatively, you can request the SWIFT code from your bank via customer service, and they may send it to you through email or provide it via their online portal.

4. What is the SWIFT code for Citibank in the Philippines?

The SWIFT code for Citibank in the Philippines (Manila branch) is CITIPHMM. This code is used for international wire transfers to or from Citibank in the Philippines. It's important to verify the specific SWIFT code with your branch if you are transferring funds to a different Citibank branch, as some branches may have unique codes.

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