Banking is a daily part of our lives. We get paid monthly, and we spend monthly, so it’s important to keep track of what we’re doing with the money that we earn.
If you’ve dealt with BPI bank but still don’t know exactly about BPI Swift code, this article will explain it for you. We will also discuss how it affects your account and why it’s important for you as a bank customer to know what it is and how it works.
For more information on the subject, read on!
The Swift code of BPI bank
Table of Contents
What Is BPI Swift Code?
In order for you to get an understanding of what BPI Swift code is, we will first explain the term “Swift code”.
The Swift code is an international code to identify business partners (often banks) and route financial transactions worldwide. It guarantees that monies are transferred to the correct bank in a timely and secure manner.
Other terms of Swift code include BIC (Business Identifier Code), Swift-BIC, BIC code, or Swift ID. This code consists of 8-11 characters. Details are as follows:
- Bank code – Four letters that look like an abbreviated version of the bank’s name
- Country code – Two letters that identify which country the bank is from
- Location code – Two numbers or letters that indicate the city of the bank’s headquarters
- Branch code – Optional – Three digits that identify the bank’s specific branch (It’s necessary if not all branches can receive a wire transfer.)
Swift code
So, the BPI Swift code is BOPIPHMM. You can interpret it as:
BOPI = Bank of the Philippine Islands
PH = Philippines
MM = Metro Manila
As mentioned above, some Swift code also includes three digits at the end to identify their brank. For instance, the Swift code of the Treasury Group branch of BPI is:
BOPIPHMMTRY (“TRY” to specify “Treasury”)
See also: BPI Hotline – The Best Customer Service
What Is The BPI Branch Swift CODE?
Any specific Swift code has a branch code attached to it. It’s usually an extra three characters. It identifies the bank branch and the bank routing number, yet this is not always the case. Most of the time, using the head office bank’s Swift code is widely accepted.
You can check the list below to find the Swift Code of a BPI subsidiary or affiliate company:
| Bank of the Philippine Islands (BPI) | Branch | BIC / SWIFT Code |
| BANK OF THE PHILIPPINE ISLANDS (BPI) | MANILA – Main Branch (Head Office) | BOPIPHMM |
| BPI TREASURY GROUP | MANILA – TREASURY GROUP | BOPIPHMMTRY |
| BPI CAPITAL CORP. | MANILA | BPAPPHM1 |
| BPI CARD FINANCE | MANILA | BPCNPHM1 |
| BPI DIRECT | MANILA | BPDIPHM1 |
| BPI FAMILY BANK | MANILA | BPFFPHM1 |
| BPI FAMILY SAVINGS BANK | MAKATI | BPFSPHM1 |
| BPI GLOBE BANKO INC. | MAKATI CITY | BPGOPHM1 |
| BPI SECURITIES CORP. | MANILA | BPISPHM1 |
| BPI LEASING CORPORATION | MANILA | BPLIPHM1 |
BPI Branch Swift CODE
How To Find BPI Swift Code
When sending a bank transfer, you will need the Swift code to identify if the respondent’s bank has completed your transfer. You can refer to these simple ways:
Check Bank Statements
Banks frequently print their Swift codes on the paper statements. If the recipients do not receive them, they can view their statements by logging in to their bank account. They will then be able to check the Swift code and supply you.
Check The Bank’s Website
Visit the bank’s website
If you want to check the Swift code of your own bank’s or others’ bank’s:
- Visit the bank’s website and view if it mentioned the Swift code
- Look around the bank’s international payments, FAQs, or related links
- Type the term “Swift code” into the search box
Online BIC Search Steps:
- Type the bank name next to the “Institution name”.
- In the “Country” menu, select “Philippines”.
- Type the code appearing next to “Challenge”
- Click the “Search” button.
Or else, you can call the bank’s customer service hotline to ask for the Swift code.
Search Online
You can find a bank’s Swift code via several online resources. Simply pick the nation and then the bank’s name.
Look up the Swift codes
Try these:
www.theSwiftcodes.com
www.bankSwiftcode.org
What Are The Advantages Of Using The BPI Swift Code?
Institutions can safely communicate and exchange transaction details thanks to Swift’s internationally standardized messages. Some advantages of using Swift are below:
Transparency: Swift payments reveal all the amount of the transaction, the banks it goes through, the charge details, and the nature of the payment. This data enables all parties involved to keep track of the transaction’s progress and understand the charges and duration involved.
Traceability: It’s easy to verify payment when using Swift because it shows the transaction’s route between banks and the amount of money.
Consistency: You can decode the payment information no matter where you are or what language you’re using.
What Are The Functions Of The Swift Code Of BPI Banks?
People use the Swift codes to facilitate transactions from one financial institution to another. Just like when you mail or send someone a package, the precise address is required to reach its intended destination (including the street name, the building number, and the country).
In other words, Swift codes are similar to addresses or destinations where the money will be delivered. It’s an identifier for the particular branch of a bank, though it’s different from the individual account number.
You will need a Swift code when you send money from bank to bank. In such cases, your bank will supply you a Swift message attached with your specific transfer details through a secure network to Mexico’s bank (including the specific branch).
Once the incoming payment message is confirmed and received, the money will be then transferred and credited to the recipient’s account.
What Happens/What to Do if I Enter The Wrong Swift Code?
You may be charged a fee if you enter the wrong Swift Code. Though the money will not be transmitted to the wrong recipient, you should notify your bank immediately to avoid further complications.
Make sure to type the correct BIC or Swift code when sending money to any local bank account or recipient’s account to avoid fees and failed fund transfers.
Understanding the use of the Bank Swift Code will make it easier to transmit money anywhere worldwide.
Below is the estimated BPI Swift Code service charge:
| Mode | Debit from FCDU account of the Client |
| Service Charge Commission | $14.00 |
| Mode | Debit from Peso account of the Client |
| Service Charge Commission | ₱600.00 |
Note: The charges differ from bank to bank, and some banks do not charge any fees at all.
Conclusion
The BPI Swift Code is a unique code that identifies your bank, and in some cases, specifies the location of where you are sending money. When using this code for international wire transfers, there may be certain requirements you need to follow. We hope you find this post useful to you!
See also: About BPI – Every Detailed Information You Need To Know
