I will not mention the name of the bank, but I was going to receive a international wire transfer so I went into the local branch and asked about the necessary information i.e. SWIFT codes, name of Correspondent bank etc.
All I was given was the information for the Philippine bank not the correspondent bank. I was told that this was all I needed and since it has been a while since I was involved in this sort of transaction just accepted that thinking the procedure ay have changed. (I was wrong about that.)
For those of you unfamiliar with international wire transfer, a transfer not in the banks local currency requires a correspondent bank located in the country of the currency. In this case I needed the Philippine bank information and since the transfer would be in USD a US bank as the correspondent bank.
Numerous phone calls all got me the same answer. All I needed was the Philippine bank information nothing else. Some people refused to talk to me about it saying that that was confidential information and could not be released.
Several hours searching the web. Just about every major bank worldwide publishes this information on its web site. Since I deal with an international bank, I looked at the web sites for the bank in several other countries, they use one of two US correspondent banks, it appears that only the Canadian one uses a different US bank than the rest of the affiliated banks use.
I would have gone with that but I did read that having the wrong correspondent bank can delay transfers by up to 3 months and since this is a sizable transfer that will become a monthly one I wanted to be 100% sure I was correct.
Finally, I stumbled on the name and email address of the CEO of the Philippine bank, sent him an email and within a couple of hours one of his staff replied with just the SWIFT code for the correspondent bank, not the name and address which I also needed and had asked for. Since it was the bank that the majority of the affiliated banks used, I was comfortable looking up that information and submitting it.
If you have an issue with a bank anywhere here is the link to the web site listing the names, phone numbers and email addresses of the CEO.
Bangko Sentral ng Pilipinas - Banking Supervision
Thanks to the “Bangko Sentral ng Pilipinas” or Philippine Central Bank people for providing this helpful information.