EQSPPHM1

EQUITABLE SECURITIES (PHILS) INC, BIC/SWIFT Code Details

Address: CACHO- GONZALES BUILDING, FLOOR 3 101 AGUIRRE LEGASPI, VILLAGE MAKATI 1200 PHILIPPINES

Payment Instructions

General instructions for international payments to banks in PHILIPPINES: Instructions for Sending Payments to the Philippines:

For sending payments to the Philippines, ensure the remitter has all required bank information from the beneficiary, including SWIFT BIC, account number, and beneficiary bank address. Payments in PHP must be converted in-country and cannot be held offshore. Receipts exceeding PHP 500,000 or its foreign currency equivalent must be reported to the Anti-Money Laundering Committee.

When formatting payments:

Ordering Customer: Include the account number, full name (no initials), date of birth/incorporation, and address with street address, city, state, country, and postal code. Avoid P.O. Box numbers.
Beneficiary Customer: Include the account number, full name (no initials), and full address with street address, city, state, country, and postal code. Avoid P.O. Box numbers.
Beneficiary Bank: Include the SWIFT BIC code with the branch identifier if required, and the full name and address of the beneficiary bank. The SWIFT BIC is 8 or 11 alphanumeric characters formatted as xxxxPHxx or xxxxPHxxxxx.

Additional supporting documentation may be required from both remitter and beneficiary.

Reason for Payment (SWIFT MT103 F70): The purpose of payment is required for all incoming and outgoing cross-border wire payments. Effective September 4th, 2023, payments received without a specific purpose code will be placed on hold for 5 banking days, and if not provided by this time, will be cancelled and returned to the remitter. Provide a purpose for payment formatted as “/ACC/PURPOSE/9999999999” or “/REG/9999999999”, where “9999999999” is the 10-digit purpose code. For a list of purpose codes, contact your J.P. Morgan Service Representative or download it from here.

Regulatory Reporting (Swift MT103 Field 77B): Include the remitter's date of incorporation (DOI) where the remitter is a company, or the date of birth (DOB) where the remitter is an individual, for all PHP payments. Provide DOI in the format /ORDDOI/PH/YYYYMMDD)> OR DOB in the format /ORDDOB/PH/YYYYMMDD)> in field 77B. This is not mandatory for PHP payments initiated from accounts held with JPMorgan Chase Bank N.A. Manila branch & JPMorgan Chase Bank N.A. branches in the EMEA region.

Additional Information: Due to heightened AML requirements in the Philippines, any transaction may be placed on hold pending supporting documentation, such as invoices, shipping manifests, or employment contracts for salary payments, before payment clearance.

IBAN: No

Correspondent Banks

Standard Settlement Instructions (SSI) contain the list of correspondent banks of EQUITABLE SECURITIES (PHILS) INC for each currency.

Payment Tracking

To track a SWIFT cross-border payment to or from EQUITABLE SECURITIES (PHILS) INC, you need a UETR code, reference number, amount, payment date, and currency. This information is typically found in an MT103 form.

Disclaimers

We are doing our best to demystify cross-border payments, however TrackMySwift is not responsible for any delays or losses related to usage of the information and services from our web site. Please contact your banks to receive a safe advise. Country-specific payment instructions have been prepared based on Global Wires Payments Formatting Requirements Guide from J.P.Morgan.