SWIFT Code SECTCZP1 — SAMSUNG ELEC. HUNGARIAN-CZECH, PRAGUE

About SWIFT Code SECTCZP1 — SAMSUNG ELEC. HUNGARIAN-CZECH, PRAGUE

SWIFT code SECTCZP1 is the official 8-character head-office BIC (Bank Identifier Code) for SAMSUNG ELEC. HUNGARIAN-CZECH in PRAGUE, Czech Republic. Standardised under ISO 9362 and maintained by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), this code is used exclusively for cross-border wire transfers and is recognised by financial institutions in over 200 countries.

This code must be provided to the sender when receiving money from abroad, and is required by SAMSUNG ELEC. HUNGARIAN-CZECH for all outward international remittances from PRAGUE. Without the correct SWIFT code, international transfers to or from this branch cannot be processed.

How to Read SWIFT Code SECTCZP1

The code SECTCZP1 follows the ISO 9362 standard and breaks down as follows:

When to Use SWIFT Code SECTCZP1

Receiving International Wire Transfers

To receive money from abroad at your SAMSUNG ELEC. HUNGARIAN-CZECH account in PRAGUE, share SWIFT code SECTCZP1 with the sender along with your full account number, your name as on the account, and the branch address.

NRI Remittances

Non-Resident Indians sending money to NRO/NRE accounts at SAMSUNG ELEC. HUNGARIAN-CZECH, PRAGUE must provide SWIFT code SECTCZP1. Major remittance platforms — including Wise, Remitly, Western Union, and MoneyGram — use this code to route transfers accurately.

Trade Finance and Foreign Payments

Importers and exporters using SAMSUNG ELEC. HUNGARIAN-CZECH in PRAGUE rely on SWIFT code SECTCZP1 for letters of credit, bank guarantees, and foreign currency settlements.

SWIFT Code vs IFSC vs MICR vs BSR — Key Differences

Need the IFSC code for domestic NEFT, RTGS, or UPI transfers? View the IFSC code for SAMSUNG ELEC. HUNGARIAN-CZECH →

For cheque clearing or NACH mandates, use the MICR code for SAMSUNG ELEC. HUNGARIAN-CZECH →

For TDS challan deposits, find the BSR code for SAMSUNG ELEC. HUNGARIAN-CZECH →

How SWIFT Code SECTCZP1 Routes an International Transfer

1. Initiation: The sender provides SWIFT code SECTCZP1 and account number to their bank.
2. Validation: The sending bank validates the BIC against the SWIFT registry.
3. Routing: An MT103 SWIFT message is transmitted through the network to SAMSUNG ELEC. HUNGARIAN-CZECH.
4. Correspondent bank (if needed): An intermediary bank may relay the transfer, adding 1–2 business days.
5. Credit: SAMSUNG ELEC. HUNGARIAN-CZECH receives the SWIFT message and credits the account. Total time: 1–5 business days.

Common Mistakes When Using SWIFT Code SECTCZP1

• Spaces or lowercase letters — Always enter SECTCZP1 uppercase with no spaces.
• Using the wrong city — This code is for PRAGUE only.
• Truncating to 8 characters — When 11 characters are required, always use the full code.
• Using SWIFT for domestic transfers — Use the IFSC code for any transfer within Czech Republic.

Data Accuracy

BankZop sources SWIFT/BIC data from publicly available banking registries and official disclosures, updated regularly. For the highest-stakes transactions, always confirm SECTCZP1 directly with SAMSUNG ELEC. HUNGARIAN-CZECH's PRAGUE branch or via the SWIFT BIC Directory.