Bank Code Unionbank: A Guide to Swift Codes in the Philippines

Author

Reads 882

A vibrant red piggy bank against a minimalist and contrasting studio background, ideal for finance themes.
Credit: pexels.com, A vibrant red piggy bank against a minimalist and contrasting studio background, ideal for finance themes.

Unionbank's SWIFT code is UBPNPHMM. This code is used for international transactions and is recognized globally.

SWIFT codes are a crucial part of international banking, allowing for secure and efficient transactions between banks. The Philippines has its own set of SWIFT codes, and Unionbank's code is one of them.

To find the SWIFT code for Unionbank, you can check the bank's official website or contact their customer service. The code UBPNPHMM is specific to Unionbank and is used for all international transactions.

If you're planning to send or receive money internationally, knowing Unionbank's SWIFT code is essential. It ensures that your transactions are processed correctly and securely.

What is a SWIFT Code?

A SWIFT code is a unique identifier for banks and financial institutions. It's used for international transactions and helps ensure that your money reaches the right account.

Each Union Bank branch has its own SWIFT code, which you can check online to confirm the correct code for your branch.

Why Do I Need a SWIFT Code?

Credit: youtube.com, How To Find Union Bank Swift Code

If you're making an international transfer to a Union Bank bank account, you'll be asked for a BIC/SWIFT code along with details like the bank address.

A SWIFT Code is necessary for international wire transfers, as it specifies a particular bank or branch.

These codes are used when transferring money between banks, particularly for international wire transfers, and banks also use them for exchanging messages between them.

You can think of a SWIFT Code as a unique address for your bank account, making it easier for others to send you money from abroad.

SWIFT codes comprise of 8 or 11 characters, with all 11 digit codes referring to specific branches, while 8 digit codes (or those ending in 'XXX') refer to the head or primary office.

Here's a breakdown of what each part of a SWIFT code means:

  • First 4 characters - bank code (only letters)
  • Next 2 characters - ISO 3166-1 alpha-2 country code (only letters)
  • Next 2 characters - location code, passive participant will have "1" in the second character (letters and digits)
  • Last 3 characters - branch code, optional - 'XXX' for primary office (letters and digits)

Using the Correct SWIFT/BIC Code

Each Union Bank branch has a unique SWIFT code, so it's essential to check the correct code for your branch before making an international wire transfer.

Credit: youtube.com, EASIEST Way To Get Swift/BIC Code Of Any Bank || How To Find SWIFT or BIC Code For Banks

You can find the correct SWIFT code for your Union Bank branch here, but if you're unsure, you can use the 8 character head office SWIFT code, and your payment will still reach your account.

The 8 digit head office SWIFT code is BOFCUS33, which you can use as a fallback if you can't find the branch code.

Using the head office SWIFT code won't affect the transfer, and it's a convenient option if you're in a hurry.

Here's a breakdown of the SWIFT code format:

  • First 4 characters - bank code (only letters)
  • Next 2 characters - ISO 3166-1 alpha-2 country code (only letters)
  • Next 2 characters - location code, passive participant will have "1" in the second character (letters and digits)
  • Last 3 characters - branch code, optional - 'XXX' for primary office (letters and digits)

Keep in mind that 11 digit codes refer to specific branches, while 8 digit codes refer to the head or primary office.

SWIFT Codes for UnionBank

You'll need a UnionBank SWIFT code for international transfers, whether you're sending or receiving money abroad.

Each UnionBank branch has a unique SWIFT code, so it's essential to check the correct code for your branch or use the 8 character head office SWIFT code, BOFCUS33, as a backup option.

Using the head office SWIFT code is a safe bet, as it will still ensure the payment reaches your account, even if you can't find the branch code.

What's the Swift Code?

Credit: youtube.com, How To Get Union Bank of the Philippines SWIFT CODE (BIC) In Philippines | UB

A SWIFT code is a standard format of Bank Identifier Code (BIC) used to specify a particular bank or branch. These codes are used when transferring money between banks, particularly for international wire transfers.

A SWIFT code is comprised of 8 or 11 characters, with all 11 digit codes referring to specific branches, while 8 digit codes (or those ending in 'XXX') refer to the head or primary office.

The format of a SWIFT code is: AAAABBCCDDD. Let's break it down:

  • First 4 characters - bank code (only letters)
  • Next 2 characters - ISO 3166-1 alpha-2 country code (only letters)
  • Next 2 characters - location code, passive participant will have "1" in the second character (letters and digits)
  • Last 3 characters - branch code, optional - 'XXX' for primary office (letters and digits)

You can use the 8 digit head office SWIFT code – BOFCUS33 – to make international wire transfers to UnionBank, and the payment will still reach your account.

Other Swift Codes for BPI

BPI, or Bank of the Philippines, may have multiple SWIFT codes for different branches. Always double-check with the recipient before sending money to ensure you have the right SWIFT code.

You should be aware that financial institutions may have several different SWIFT codes that differ by just a few letters or numbers. It's a good idea to verify the SWIFT code with the recipient to avoid any potential issues with the transaction.

SWIFT Code Details

Credit: youtube.com, ✅ How To Find Union Bank Swift Code (Full Guide)

A SWIFT code is a standard format of Bank Identifier Code (BIC) used to specify a particular bank or branch. It's used when transferring money between banks, particularly for international wire transfers.

Each Union Bank branch has a unique SWIFT code, so it's essential to use the correct one to avoid any issues with your transfer.

A SWIFT code consists of 8 or 11 characters, formatted as follows: AAAABBCCDDD. The first 4 characters are the bank code, the next 2 are the ISO 3166-1 alpha-2 country code, and the last 3 are the branch code.

Here's a breakdown of what each part of the SWIFT code means:

If you're unsure about the correct SWIFT code for your Union Bank branch, you can use the 8-digit head office SWIFT code (BOFCUS33) as a backup.

Frequently Asked Questions

What is bank code of a bank?

A bank code is a unique numerical identifier assigned to a bank to facilitate financial transactions. It's typically assigned by a country's central bank or banking body.

Antoinette Cassin

Senior Copy Editor

Antoinette Cassin is a seasoned copy editor with over a decade of experience in the field. Her expertise lies in medical and insurance-related content, particularly focusing on complex areas such as medical malpractice and liability insurance. Antoinette ensures that every piece of writing is clear, accurate, and free of legal and grammatical errors.

Love What You Read? Stay Updated!

Join our community for insights, tips, and more.