GCash Bank Code: Exact Swift/BIC Code

Believe it or not, GCash is more of a neobank than your average e-wallet application.

There is even a bank code assigned to GCash, which could be helpful in certain transactions.

If you want to know more about the bank code of GCash, check out all the details in this article.

What is the BRSTN code of GCash?

The BRSTN or bank code of GCash for receiving international fund transfers is 018040010. It is needed when enrolling your bank in international payment solutions based abroad.

What is the SWIFT code of GCash?

The SWIFT code for GCash is GLTEPHMT, wherein the first four letters are the short version of the bank’s name, the following two letters represent the Philippines, and the other two letters represent the location code.

GCash has a branch code of just three (X) because it is the head office.

Its official bank and branch name are GLOBE TELECOM, INC., located at THE GLOBE TOWER, 32 STREET CORNER 7TH AVENUE, BONIFACIO GLOBAL CITY.

Moreover, it is registered under the City of Taguig.

What is a bank code?

A bank code is a set of characters unique to a particular bank, which helps facilitate financial transactions between banks.

First, it can be BRSTN, or Bank Routing Symbol Transit Number composed of nine digits.

Second, it can also be SWIFT which means Society for Worldwide Interbank Financial Telecommunication, or BIC, which means Bank Identifier Code composed of eight or 11 alphanumeric characters.

When do I need the BIC code?

The BIC code should be used for money transfers where the source of the fund is international, and the destination account is the Philippines.

The BIC Code of the recipient bank is necessary for the sender.

When do I need the SWIFT code?

The SWIFT code is being used for international money transfers, which means you need to know the SWIFT code of a given bank if you plan to transfer money outside of the Philippines.

The sender needs the SWIFT code of the recipient bank.

Does GCash have a bank code?

If you can recall, GCash is also part of the PESONet and InstaPay services that allow it to receive from and transfer funds to other banks.

Since it is also regulated by the BSP or Bangko Sentral ng Pilipinas, there is a bank code assigned to GCash.

If you wonder what the bank code of GCash is, see the details in the following sections.

How can I verify the BRSTN code of a bank?

You can check the BRSTN code of a bank by checking the list provided by the international payment platform such as PayPal.

If the specific platform can send money to your local bank account, they will have a list ready for you.

Here is how to verify the BRSTN of your bank account if you have PayPal:

Step 1: Log in to your PayPal account on the website.

Step 2: From the menu, click Wallet.

Step 3: Select Link a bank account after going to Bank accounts.

Step 4: Tap the Add button.

Step 5: Look for the text beside the entry field for Bank code that says List of bank codes.

You can now see the bank codes for valid banks connected to the PayPal system.

How can I verify the SWIFT code of a bank?

To check the correct SWIFT code of a given banking or financial institution, such as when you want to know how to get a GCash bank code, follow these steps:

Step 1: Go to https://www2.swift.com/bsl/ on your browser.

Step 2: Type the bank name and resolve the challenge.

Step 3: Click the Search button.

Step 3: Tap the link on the result to see more details.

You have now successfully verified the SWIFT code of your bank.

FAQs

What happens if I enter the wrong bank code?

If you provided the wrong bank code or the sender failed to input it accurately, the money transfer transaction will not proceed.

The amount will not be credited to the destination account, but it will be deducted from the source account.

Now you may wonder what will happen to the fund in question.

It may be credited back to the source account from a few days to a few weeks, depending on the circumstances.

The best way to ensure that happens is to follow up on both sides to know the next steps needed.

Do I need to know bank codes when doing money transfers in banking or e-wallet apps?

You do not need to memorize or search for bank codes anymore if you transfer funds locally.

The PESONet and InstaPay system already facilitates the transaction, so you need to provide the crucial details such as account name and account number.

What are international money transfers?

As the name suggests, international money transfers are the process of sending money from one national territory to another, also known as cross-border payments.

SWIFT is the primary system responsible for global payments, and they can also block transactions on their network.

What is SWIFT?

SWIFT is an international organization that connects thousands of banks across more than 200 countries worldwide.

Legally, it is a cooperative of all its member banks, and it serves as a messaging system rather than having a clearing or settlement function.

It has four data centers that are connected with undersea fiber optic cables.

The system experienced some security breaches due to malware but is considered safe and secure, with continuous improvements.

SWIFT also makes it possible to enforce economic sanctions not only on specific banks but also on all banks in a given country, such as when there are illegal activities.

However, it must be noted that there are alternatives to SWIFT like China-sponsored CIPS, India-sponsored SFMS, and Russia-sponsored SPFS.

Conclusion

Knowing the correct bank codes for your bank will allow you to receive funds correctly.

Take note of the banknote of GCash so you can be ready in case the information is needed.

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Jerico
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