If you need your money to be sent to you directly to your bank account from abroad, they can do that by giving them the necessary Swift Code or BIC of your Philippine Banks.
What is a Swift Code?
A SWIFT (Society for Worldwide Interbank Financial Telecommunications) code is a standard format identifier that identifies banks and financial institutions all around the world. This code, also known as a SWIFT number, is used to enable money transfers between banks and is required for both international wire transfers and SEPA payments.
What is a BIC?
The abbreviation BIC stands for Bank Identifier Code. It is an 8 to 11-character code that is used to identify banks all around the world. BIC codes are used to verify that money is sent to the correct location when it is sent between banks.
The terms SWIFT and BIC codes are interchangeable and mean the same thing. Banks and financial institutions are identified by SWIFT and BIC codes, which are used for money transfers.
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 |
If you work online as a Content Writer, SEO Specialist, Digital Marketing Specialist, Virtual Assistant, or other online employment, these lists will come in handy. You will need it to accept payments from your employer abroad. It is a much better way to get paid using your direct bank account than a third-party payment system. There’s nothing wrong with an online payment platform like Paypal, Wise, etc. It comes down to your preferred way of getting paid.
With the ambient of technology in payment processes, money is easier to send now than ever before. You can send money right away with the tap of your finger using your mobile phone. The time spent in line at the bank to make a payment on someone had been reduced. Now all you need to do is open the app of your Bank account because all Banks right now have their apps in Playstore or Apple Store that you can easily download.
Because of the ease of receiving payments, freelancers and work-from-home professionals are having the time of their lives. If you have a boss who pays you on time, they can deposit your paycheck into your bank account using the swift code of your certain bank.
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