Aachener Bank EG SWIFT/BIC code

SWIFT/BIC code of Aachener Bank EG

GENODED1 and GENODED1AAC are two spellings of the same bank identifier, and both point to Aachener Bank EG in Aachen. The code does one job: it ensures that money from abroad ends up at the right bank. You will need it mainly for transfers between countries and payments in foreign currencies.

On this page you can read how the code is put together, when you need it and which other details you need for a transfer to or from Aachener Bank EG. The BIC identifies a bank or branch, never a specific account; the IBAN or account number does that.

How up to date is this code?

We collect bank codes from public sources and update them regularly. Banks merge, close branches and change codes – a directory can be a step behind. Counts and locations come from our own dataset and may differ from what Aachener Bank EG publishes.

Use our data as a reference, not as the final word – the bank details from the recipient are leading. GoldexPay has no connection to Aachener Bank EG. Found an error? Tell us through the contact page.

Sending money abroad from Aachener Bank EG

A bank transfer abroad can cost rather more than the fee suggests. On top of the transfer fee, correspondent or intermediary banks can deduct a fee, and if the money changes currency the bank usually uses a rate below the real market rate.

Most of the cost usually sits in the exchange rate: the bank converts using an exchange rate with a margin built in. An easy check: set the rate you get against the mid-market rate and work out the difference on your amount.

For a lot of routes, a transfer service is cheaper than a traditional bank transfer, mainly because of the exchange rate. Before your next transfer, take a minute comparing what arrives via GoldexPay rather than accepting the bank’s rate by default. Using a transfer service does not require leaving Aachener Bank EG.

Do you need GENODED1 for a SEPA transfer?

Inside SEPA, euro payments to Aachener Bank EG use common rules. The BIC field is often optional in that case.

You will still need GENODED1AAC for non-euro payments or transfers from countries outside SEPA. A few banks and apps also ask for the BIC out of habit; in that case, enter GENODED1.

Euro payments within SEPA normally land within one business day. Charges on SEPA payments are generally low, as long as no currency conversion is involved.

When will the money arrive at Aachener Bank EG?

How quickly a transfer arrives at Aachener Bank EG is determined by several factors: the currency, how many intermediary banks are involved, daily processing deadlines and time zones. Payments made late in the day or on weekends and holidays often start a business day later. Occasionally a bank wants to know what the payment is for before releasing it.

Many banks use SWIFT gpi. Each gpi transfer carries a unique transaction reference, the UETR, which your bank can use to see where the money is. Money transfer services often show a status online so you can see how far the payment is.

The bank that sent the money can start an official trace or a recall. Request from the sender a copy of the payment confirmation with the date and reference; that often settles the question quickly.

Choosing between the 2 SWIFT codes of Aachener Bank EG

Aachener Bank EG uses 2 different SWIFT/BIC codes across 2 locations. Only one is the head office code; the rest belong to branches, and sometimes internal departments.

For most incoming transfers, the head office code GENODED1AAC is the right choice. A branch code only makes sense if the recipient’s bank specifically mentions it, which is more common for business accounts and trade services.

If you are not sure, ask the person you are paying which code their bank gave them. Codes are sometimes changed or retired over time, so a code from an old document is not always valid.

Is GENODED1 still correct? How to check

The most reliable place for the correct BIC is a document from the bank itself. Compare it with GENODED1 on this page and ask if anything does not match.

Mistakes in the SWIFT code tend to be annoying rather than disastrous – usually the money comes back, minus fees and time lost. An error in the IBAN or account number is a bigger problem, because the money may be credited to someone else.

An automatic check in your banking app only confirms that the code is valid – not that it belongs to the person you mean to pay. If your bank offers it, a payee name check before sending gives extra certainty. When you pay someone new, some people send a small test amount.

Receiving money from abroad at Aachener Bank EG

A sender in another country needs several details from you – incomplete details often cause delays. The basics are: your name, IBAN or account number, GENODED1AAC and, for some countries, your postal address.

Their bank may also ask for the bank address of Aachener Bank EG, in which case the Aachen head office is the usual answer. Double-check each detail before you send them.

Do not be surprised if the amount credited is below the amount on the sender’s receipt. Intermediary banks may deduct a fee, and if the currency changes, an exchange rate margin comes on top. Agree with the sender who pays which costs before the money is sent.

What the XXX in GENODED1AAC means

Each SWIFT/BIC code starts with an 8-character core: four letters for the bank, a two-letter country code and two characters for the location. The result is GENODED1 for Aachener Bank EG.

Most payment forms accept either length. If a form requires eleven characters, use GENODED1AAC.

Leave out spaces, dots when you type GENODED1 or GENODED1AAC. Pasting the code is safer than typing it by hand.

Sending EUR to Aachener Bank EG

Germany pays in the Euro. When you pay another currency gets converted at some point: by your bank, an intermediary or Aachener Bank EG itself. Every conversion costs the amount.

Which bank converts the payment matters. In many cases it is cheaper to send EUR straight away through a transfer service with a good rate, so that the receiving bank does not need to convert again.

Rates for EUR change all the time – some services let you fix a rate in advance. On larger amounts, a small difference in the rate adds up quickly.

Changed bank details? Be careful

Criminals regularly send fake invoices with changed bank details sent from what looks like a familiar address. The fact that GENODED1 exists is no guarantee that the account is genuine; criminals use the codes of real banks too.

Check new bank details through a different channel like a call to a number from an earlier contract, never via the email that asked for the change. Be suspicious of time pressure, odd spelling or an email address that differs by one letter. Acted too fast? Call your bank without delay and have them start a recall.

Recipients can be targeted as well: one known trick is an overpayment followed by a request to send back the difference to another account. Do not act before the money is actually in your account and check with Aachener Bank EG if anything seems off.