Can I receive money without a SWIFT code?
Yes, you can receive US dollars into your Bank of the Philippine Islands (BPI) account, but this requires you to hold a BPI USD savings account. If you provide your USD account details and the bank's swift code to the sender, the funds will be credited in their original currency without being converted to Philippine Pesos. If you only hold a standard PHP savings account, any incoming USD transfer will be automatically converted to pesos by the bank at their daily foreign exchange rate. It is important to note that maintaining a USD account may come with its own set of requirements, such as a minimum average monthly balance, so it is best to verify these terms at your local BPI branch to avoid any maintenance fees.
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