A semiconductor device has a substrate and leads formed on two or more sides of the substrate. An electrical component is disposed over the substrate and electrically connected to the lead with bumps or bond wires. The electrical component is encapsulated. A portion of the substrate is removed to form a wettable flank on at least three sides of the lead. The substrate has a molding compound and the lead is disposed within or adjacent to the molding compound. A portion of the molding compound can remain at corners of the substrate. The lead has a first surface or recessed surface on a first side of the lead, a second surface or recessed surface on a second side of the lead, and a third surface or recessed surface on a third side of the lead. A portion of a surface of the lead is plated.