Bankhaus Krentschker und Co. SWIFT/BIC code

What KRECAT2G means for a payment to Bankhaus Krentschker und Co.

KRECAT2G and KRECAT2GXXX are two spellings of the same SWIFT/BIC code, and both lead to Bankhaus Krentschker und Co. in Graz. A SWIFT code shows every bank in the chain exactly which bank should receive the money, much like a postcode for banks. It comes up mostly for transfers between countries and payments in foreign currencies.

We wrote this page to help anyone who receives money at an account at Bankhaus Krentschker und Co. without mistakes. Remember that the BIC just identifies the bank, not the account: the account number or IBAN does that part.

How long does an international transfer to Bankhaus Krentschker und Co. take?

An international transfer typically needs anywhere from one to several business days, depending on the currency, the route and the banks involved. Transfers sent late in the day or on weekends and holidays often start the next business day. Compliance checks by one of the banks can also cause some delay, regardless of the details.

If the money seems delayed, contact your bank for the tracking status so they can trace it along the chain. Money transfer services usually show tracking online showing where the money is.

The bank that sent the money can start an official trace; the receiving side usually has nothing to trace yet. Request from the sender the payment receipt; that often settles the question quickly.

Paying someone abroad from your Bankhaus Krentschker und Co. account

What you pay for a payment abroad has several parts, and the transfer fee is only the most visible one. Besides the transfer fee, banks in between may take a cut, and when the money changes currency the bank usually applies a rate below the actual market rate.

The markup on the rate is often the largest item even though it is not listed as a fee. A simple test: put the bank’s rate next to the mid-market rate and look at the difference.

For a lot of routes, a specialist provider turns out to be less expensive than a bank – mostly thanks to the rate. GoldexPay lists these services side by side, showing what actually arrives before you commit. You can still use your account at Bankhaus Krentschker und Co. to fund the transfer.

Euro (EUR) and conversion costs

The currency of Austria is the Euro (EUR). Money sent in a different currency is exchanged into EUR, and whoever converts it chooses the rate. There is rarely a separate charge for the conversion; it is built into the rate.

Where the conversion happens affects how much arrives. In many cases you pay less to send EUR directly through a transfer service that converts near the mid-market rate, so that the receiving bank does not need to convert again.

Exchange rates change all the time, and some providers let you lock in a rate. For recurring payments, a slightly better rate make a real difference over time.

8 or 11 characters: KRECAT2G versus KRECAT2GXXX

The layout of a BIC is always the same: a bank code of four letters, two for the country and two for the location. The result is KRECAT2G.

Many banks and apps accept either length. If yours asks for eleven characters, use KRECAT2GXXX, otherwise KRECAT2G is fine.

In practice the code is written in capitals, without spaces or dashes. Copying the code is safer than typing it by hand, because one wrong letter changes the bank.

Paying Bankhaus Krentschker und Co. in euros within SEPA

Within the SEPA zone, euro transfers to an account in Austria use common rules, so the IBAN does the job in most cases. The BIC field is usually optional or missing for those payments.

Outside the euro and for senders outside SEPA, KRECAT2GXXX or KRECAT2G is still part of the payment details. Some forms also show a field for the BIC out of habit; in that case, fill in KRECAT2G or KRECAT2GXXX.

SEPA transfers usually arrive within one business day, and instant transfers in seconds where both banks support them. Charges on SEPA payments tend to be low as long as everything stays in euros.

Scams that use SWIFT codes

Scammers regularly send fake invoices containing changed bank details sent from what looks like a familiar address. A real SWIFT code tells you nothing about whether the request is genuine.

Always confirm a change of bank details by phone on a number you know, not one from the message. Be suspicious of time pressure, odd spelling or a sender address that is slightly off. Already paid? Call your bank straight away and ask them to try to recall the payment.

Recipients are targeted too: one known trick is a buyer who pays too much and then sends a request to send back the difference abroad. A payment confirmation from the sender proves nothing.

How to check KRECAT2G before you pay

Have the recipient copy the account details straight from a recent statement. Check it against KRECAT2G on this page and ask if anything does not match.

Mistakes in the BIC are costly rather than fatal. Do not forget the account number: an error there is harder to undo than a wrong code.

Most online banking apps validate the format of an IBAN and sometimes look up the BIC automatically. Some banks now check the name against the account before you confirm – do not ignore a mismatch warning. For a first payment, many people start with a small amount first and wait for confirmation.

Head office or branch code at Bankhaus Krentschker und Co.?

We have 2 SWIFT/BIC codes for Bankhaus Krentschker und Co. in 2 places. Next to the head office code KRECAT2GXXX, there are codes for individual branches and departments.

For the vast majority of payments to a private or business account, the head office code KRECAT2GXXX is what you need. Branch codes are only needed if the recipient’s bank explicitly asks for it, which is more common for business accounts and specialised services.

When in doubt, ask the person you are paying which code their bank gave them. Branch codes are sometimes changed or retired over time.

What to give a sender who pays you at Bankhaus Krentschker und Co.

A sender in another country needs a few details from you, and missing ones are a common cause of delays. Give them the account holder’s name, the IBAN or account number, the BIC KRECAT2GXXX and your address, which some banks require.

Their bank may also ask for the bank address of Bankhaus Krentschker und Co.. Check every detail before you send them.

Do not be surprised if the amount credited is below what the sender paid. Correspondent banks can take a fee and your own bank may charge for processing, and if the currency changes, an exchange rate margin comes on top. For business payments, you can state how the fees are split to avoid a shortfall.

How up to date is this code?

We collect bank codes using publicly available data and check our list from time to time. Even so, banks merge, rename themselves or retire codes, so information can be out of date. Figures such as the number of codes come from our directory.

Before a payment of any size, confirm the code with the recipient’s bank or the recipient. GoldexPay is a comparison service and not affiliated with Bankhaus Krentschker und Co.. If you notice a mistake, we welcome a message via the contact page.