Do you need to transfer money internationally?

If you plan to use PayPal or similar services for your business, then you should know beforehand that they would require the SWIFT code or bank code of the bank you’re using.

Fortunately, these codes are quite simple to find. In fact, we have a list of all the SWIFT codes and bank codes of all the major banks in the Philippines.

What are SWIFT codes?

Think of a bank’s SWIFT code as its international code for easy identification for other banks and other organizations.

The term SWIFT (Society for Worldwide Interbank Financial Telecommunication) code is also known in different names:

• BIC (Business Identifier Code)
• BIC code
• SWIFT-BIC
• SWIFT ID

A SWIFT code is usually composed of 8 to 11 digits that identify a bank for easy and quick financial transfer worldwide.

It follows this exact format:

• Bank code: Four characters
• Country code: Two characters
• Location code: Two characters
• Optional branch identifier: Three characters

So for Citibank (Cebu Branch) that has the SWIFT code CITIPHMXCBU, the following are true:

• CITI: Bank code
• PH: Country code
• MX: Location code
• CBU: Branch identifier

SWIFT codes for banks in the Philippines

For your reference, here are the SWIFT codes of all the major banks in the Philippines:

Common questions about SWIFT codes

Here are questions usually asked regarding SWIFT codes:

What’s the use of SWIFT codes?

When entities transfer money around the world, they usually require the SWIFT code of the recipient bank to ensure the success of the transaction.

This is especially true if you’re the one sending money to countries outside the Philippines. The BIC will direct banks and remittance companies where exactly to send the money.

Here are specific scenarios:

• If you need to send money abroad (outside the Philippines), you will need to get the bank’s SWIFT code of the receiver.
• The opposite — you’re the one receiving money — you need to provide your bank’s SWIFT code or BIC to the sender.

How to find your bank’s SWIFT code?

If you can’t find the SWIFT code of your bank from our list above, you can also visit the official site of SWIFT and check your bank’s code manually.

When you click on the link above, you should see this page where you can input the criteria:

Now, all you have to do here is to:

• Provide the name of your bank
• Provide the country of the bank
• Answer the challenge response

It also helps if you know the city of the bank so the system will have an easier time identifying the bank that you’re looking for.

Then, click on the “Search” button to begin searching for the bank’s SWIFT code.

For example:

Right after doing that, the system will provide you with all the banks and their SWIFT codes that fit the criteria:

Another thing you can do is to directly call your bank and ask for their SWIFT code. They should tell you the code right away without any problems.

What is a bank code?

Bank codes are quite similar to SWIFT codes in the way that they’re also used in financial transactions — but only inside the Philippines.

A bank code, otherwise known as the Bank Routing Symbol Transit Number (BRSTN), is composed of 9 digits that will easily identify the bank’s name, city, and country.

Bank codes for banks in the Philippines

Here are the codes of all the major banks in the Philippines:

What’s the use of bank codes?

Bank codes are like zip codes. Instead of identifying places, they identify banks (like how SWIFT codes are used) in the Philippines.

They are normally used when transferring money in the Philippines and are sometimes required by payment systems like PayPal to transfer money to a bank in the country.

How to find your bank’s code?

Finding your bank code can be a little difficult. If you still want to do it, you will need a PayPal account as there’s no bank code directory in the Philippines.

What you need to do first is to click on the “Pay & Get Paid” menu item on the top bar and select the “Banks & Cards” option:

The next step is to scroll down a little and look for the “Link a new bank account” button:

In the past, there used to be a button where you could click and it would give you a list of bank codes in the Philippines.

But nowadays, you need to input the bank name first. It’s easy though since the system will automatically provide a dropdown with all the banks it supports in the Philippines.

Once you select a specific bank, the “Bank code” field will automatically be filled out:

The other option is to directly call your bank and ask for its bank code. They know it’s for transfer and they will always provide it to you without any problems.

Using SWIFT codes and bank codes

If your financial transaction involves transferring money from outside the Philippines, then you will likely need your bank’s SWIFT code.

Otherwise, if you want to use a payment system like PayPal or transfer money within the Philippines, then you will need the bank code.

Fortunately, our list here contains all the major banks in the Philippines that you will likely use in your business.

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