Allgaeuer Volksbank EG Kempten-Sonthofen SWIFT/BIC code

Allgaeuer Volksbank EG Kempten-Sonthofen SWIFT code: GENODEF1

The 8-character code GENODEF1 and the 11-character code GENODEF1KEV refer to one and the same institution: Allgaeuer Volksbank EG Kempten-Sonthofen, with its head office in Kempten. Banks worldwide use these codes to direct international transfers to the right institution. It comes up mostly for payments that cross a border or a currency.

On this page you will find how the code is put together, when it matters and what else you need for a transfer to or from Allgaeuer Volksbank EG Kempten-Sonthofen. Keep in mind that the BIC only identifies the bank, not the person: the account number or IBAN takes care of that.

Receiving money from abroad at Allgaeuer Volksbank EG Kempten-Sonthofen

To receive an international payment into your account at Allgaeuer Volksbank EG Kempten-Sonthofen, the person paying you has to have more than the BIC. In practice that means: your full name as registered with Allgaeuer Volksbank EG Kempten-Sonthofen, your account number or IBAN, the SWIFT/BIC code GENODEF1KEV (or GENODEF1) and sometimes your address.

Some banks want the address of Allgaeuer Volksbank EG Kempten-Sonthofen in Kempten. A typo in your account number can be harder to fix than it looks, so copy the details from your online banking.

Expect that the incoming amount is smaller than what the sender paid. Charges on incoming payments vary per bank – the price list of Allgaeuer Volksbank EG Kempten-Sonthofen tells you what applies. Agree with the sender who covers the fees before the money is sent.

Watch out for payment fraud

Criminals regularly send payment requests containing new bank details, sometimes in an email that looks completely genuine. A real SWIFT code tells you nothing about who owns the account.

Before paying, confirm a change of bank details through a phone call, using a number you already had. Pressure or secrecy are warning signs. Acted too fast? Contact the bank you paid from without delay and ask them to try to recall the payment.

Fraud also work the other way. Someone sends more than agreed and wants you to refund the difference. A payment confirmation from the sender is no proof – check your own account.

Head office or branch code at Allgaeuer Volksbank EG Kempten-Sonthofen?

Allgaeuer Volksbank EG Kempten-Sonthofen has 2 separate SWIFT/BIC codes across 2 cities. Only one is the head office code, GENODEF1KEV; the others belong to branches or departments, and sometimes specific services.

For most payments to a private or business account, the head office code GENODEF1KEV works fine. A branch code only makes sense if the recipient’s bank specifically mentions it.

Unsure which code applies? Ask the recipient. Branch codes are more likely to change than GENODEF1KEV.

How long does an international transfer to Allgaeuer Volksbank EG Kempten-Sonthofen take?

An international transfer usually takes one to a few business days. Transfers sent late in the day or just before a weekend or public holiday usually go out the next business day. Compliance checks on larger or unusual payments may also add some delay.

A growing number of banks are connected to SWIFT gpi, which lets them follow a payment from bank to bank. Every payment gets a unique transaction reference, the UETR, which your bank can use to see where the money is. Keep your transfer receipt until the recipient confirms – you will need it for any trace request.

If the money does not arrive within the expected time, the person who paid needs to contact their own bank. Ask the sender for a copy of the payment confirmation including the reference.

Euro (EUR) and conversion costs

Most accounts at Allgaeuer Volksbank EG Kempten-Sonthofen are typically held in EUR, the local currency of Germany. When you pay money in a different currency it gets converted at some point: by your bank, an intermediary or Allgaeuer Volksbank EG Kempten-Sonthofen itself. Each conversion costs something.

Who converts the money matters: every bank has its own margin. Often you pay less to send EUR directly via a provider that converts near the mid-market rate, so that the receiving bank does not need to convert again.

The EUR rate fluctuates constantly, so the amount you see is usually only valid for a short time. If you pay regularly, small differences in the rate add up over a year.

GENODEF1 or GENODEF1KEV – which one to use?

A SWIFT code is made up of fixed blocks: the first four letters stand for the bank, the next two give the country and the two after that indicate the location. The result is GENODEF1.

XXX at the end of GENODEF1KEV does not stand for a missing value or an error: it stands for the main office of Allgaeuer Volksbank EG Kempten-Sonthofen. Some banking apps ask for 11 characters, in which case you can add XXX behind GENODEF1.

Leave out spaces, dots when you enter GENODEF1. Pasting the code beats retyping it: a typo can point to another bank.

Before you send: check the Allgaeuer Volksbank EG Kempten-Sonthofen code

The most reliable place for the right code remains a document from the bank itself. If the code you have differs from GENODEF1 or GENODEF1KEV, do not guess – contact the recipient or Allgaeuer Volksbank EG Kempten-Sonthofen.

Errors in the SWIFT code are costly rather than fatal. An error in the IBAN or account number can be a bigger problem because it can reach the wrong person; check it just as carefully.

A validity check in your banking app only confirms that the IBAN exists, not that it is the right account. Some banks now compare the name against the account – do not ignore a mismatch warning. A small test payment is worth it for large sums.

Euro transfers to Allgaeuer Volksbank EG Kempten-Sonthofen: is a BIC needed?

Inside SEPA, euro payments to Allgaeuer Volksbank EG Kempten-Sonthofen use common rules. The BIC field is usually optional or missing in that case.

A SWIFT code like GENODEF1 still come into play when the currency is not euros. If your banking app asks for the BIC regardless, adding GENODEF1 does no harm.

Euro payments within SEPA usually arrive by the next business day. Charges on SEPA transfers tend to be low as long as everything stays in euros.

What a transfer from Allgaeuer Volksbank EG Kempten-Sonthofen abroad really costs

An international bank payment costs rather more than the listed fee. On top of a fixed fee, banks in between may take a cut, and if the money changes currency the bank often applies a rate that is less favourable than the actual market rate.

That exchange rate margin tends to be the largest item, and it is easy to miss. Compare the rate you are offered against the mid-market rate, the midpoint between buy and sell rates you see on financial sites; the gap is what conversion costs you.

Specialised transfer providers often offer a rate near the mid-market rate. Before your next transfer, take a minute comparing what arrives on GoldexPay. Using a transfer service does not mean leaving Allgaeuer Volksbank EG Kempten-Sonthofen: you simply pay the service from your account.

A note on our data

This directory is based on publicly available sources and we update it periodically. It is possible that a code on this page is no longer current after a merger or reorganisation. The figures we show are based on what is in our directory.

Before a payment of any size, confirm the BIC with the recipient’s bank or with the recipient. GoldexPay is a comparison service for money transfers and not affiliated with Allgaeuer Volksbank EG Kempten-Sonthofen. Found an error? Tell us through the contact page.