Brandenburger Bank Volksbank Raiffeisen Bank EG SWIFT/BIC code

What GENODEF1 means for a payment to Brandenburger Bank Volksbank Raiffeisen Bank EG

GENODEF1 and GENODEF1BRB are two spellings of the same bank identifier, and both lead to Brandenburger Bank Volksbank Raiffeisen Bank EG in Brandenburg. Banks worldwide use BIC codes to direct international transfers to the right institution. In daily life you usually come across the code on international invoices, in your banking app and on the account details that Brandenburger Bank Volksbank Raiffeisen Bank EG provides.

On this page we explain what the code means, when it matters and what else you need for a transfer to or from Brandenburger Bank Volksbank Raiffeisen Bank EG. The BIC names a bank or branch, never a specific account.

Sending EUR to Brandenburger Bank Volksbank Raiffeisen Bank EG

The currency in Germany is the Euro (EUR). If you send money in a different currency it gets converted at some point – by your bank, by Brandenburger Bank Volksbank Raiffeisen Bank EG or by a bank in between. There is rarely a separate charge for the conversion; it is built into the rate.

Who does the conversion has an effect on how much arrives. Often it is cheaper to send EUR directly via a transfer service that converts near the mid-market 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. With bigger transfers, a small difference in the rate adds up quickly.

International transfers from Brandenburger Bank Volksbank Raiffeisen Bank EG: the real cost

If you transfer money to another country from Brandenburger Bank Volksbank Raiffeisen Bank EG, the fee you see is only part of what you pay. There is the transfer fee, possibly charges from correspondent banks in between and, most importantly, the margin on the exchange rate.

The real cost is often in the rate: many banks convert using an exchange rate with a margin built in. Check their rate against the mid-market rate, the midpoint between buy and sell rates you see on financial sites.

Specialised transfer providers frequently use rates closer to the mid-market rate and lower fees. GoldexPay compares transfer providers next to each other so you can see what actually arrives for the same amount sent. You can still keep your account at Brandenburger Bank Volksbank Raiffeisen Bank EG to fund the transfer; only the conversion and sending happen elsewhere.

Transfer times and tracking a payment to Brandenburger Bank Volksbank Raiffeisen Bank EG

There is no single answer: some land the same day or the next, others take several business days. Payments made after the cut-off time or just before a weekend or public holiday usually go out a business day later. Occasionally a bank wants to know what the payment is for, which can hold things up.

A growing number of banks are connected to SWIFT gpi for faster and traceable payments. Every payment carries 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; it contains the details a bank needs to start a trace.

A missing payment has to be traced from the sending side, using the payment confirmation. As a recipient, you can look at your account for a partial amount because fees can reduce the amount.

Euro transfers to Brandenburger Bank Volksbank Raiffeisen Bank EG: is a BIC needed?

Inside SEPA, euro payments to an account in Germany follow the same rules, so the IBAN does the job in most cases. A field for the BIC is often optional for those payments.

You will still need GENODEF1BRB for non-euro payments or transfers from countries outside SEPA. If a payment form asks for the BIC regardless, adding GENODEF1 does no harm.

SEPA transfers usually arrive within one business day; instant payments are faster if both banks offer them. Charges on SEPA payments are generally low.

Where our SWIFT data comes from

The directory on GoldexPay is based on publicly available sources. It can happen that information on this page is no longer current after a merger or reorganisation. Figures such as the number of codes come from our directory.

For a payment of any size, always check the BIC with the recipient’s bank or with the recipient. We are an independent comparison service and not affiliated with Brandenburger Bank Volksbank Raiffeisen Bank EG. Spotted an error? Let us know through the contact page so we can correct it.

Which of the 2 codes of Brandenburger Bank Volksbank Raiffeisen Bank EG do you need?

Our directory lists 2 SWIFT/BIC codes for Brandenburger Bank Volksbank Raiffeisen Bank EG. Besides the head office code GENODEF1BRB, there are codes for regional offices and specialised units.

For the vast majority of incoming transfers, the head office code GENODEF1BRB is what you need. Only use a branch code when your contact explicitly asks for it, for example on an invoice or in their bank details.

The safest approach is to copy the code directly from the recipient’s bank details. Branch codes are more prone to be retired than GENODEF1BRB.

Watch out for payment fraud

Fraudsters regularly use payment requests containing new bank details sent from what looks like a familiar address. The fact that GENODEF1 exists is no guarantee that the account is legitimate.

Never trust a phone number in the same message that announces the change. Pressure and secrecy are red flags – a real supplier can wait a day. Already paid? Contact your bank straight away and have them try to recall the payment and report the fraud.

People receiving money can be targeted as well: one known trick is an overpayment and then sends a request to send back the difference. A payment confirmation from the sender proves nothing – check your own account.

8 or 11 characters: GENODEF1 versus GENODEF1BRB

A SWIFT code is built from fixed blocks: the first four letters stand for the bank, characters five and six give the country and the two after that indicate the location. For Brandenburger Bank Volksbank Raiffeisen Bank EG, the 8-character core is GENODEF1.

XXX at the end of GENODEF1BRB does not stand for a placeholder or a mistake: it stands for the main office of Brandenburger Bank Volksbank Raiffeisen Bank EG. Certain payment forms insist on 11 characters, in which case you can enter XXX behind GENODEF1.

Do not add spaces, dots when you enter GENODEF1 or GENODEF1BRB. Look out for O versus 0 and the letter I and the digit 1.

Verifying the SWIFT code of Brandenburger Bank Volksbank Raiffeisen Bank EG

Ask the recipient to send you their account details directly from their online banking. If the code you have does not match GENODEF1 or GENODEF1BRB, stop and ask – contact the recipient or Brandenburger Bank Volksbank Raiffeisen Bank EG.

Mistakes in the SWIFT code are costly more than disastrous: often the payment comes back, minus fees. A mistake in the account number is more serious; check it just as carefully.

Most online banking apps validate the format of IBANs and sometimes look up the BIC automatically. More and more banks check the name against the account – do not ignore a mismatch warning. When you pay someone new, some people send a small amount first and wait for confirmation.

Incoming international payments to Brandenburger Bank Volksbank Raiffeisen Bank EG

For an international payment into your account at Brandenburger Bank Volksbank Raiffeisen Bank EG, the sender has to have more than the SWIFT code. That means: your name exactly as it appears on the account, your IBAN or account number, the BIC GENODEF1BRB (or GENODEF1) and, often, your address.

It helps to add the bank name and its city as well. A typo in the IBAN can be harder to fix than it looks; copy them from your banking app rather than typing.

Expect that the amount credited is smaller than what the sender paid. Correspondent banks can take a fee and your own bank may charge for processing, and when currencies differ, a markup on the rate comes on top. Make clear with the sender who covers the fees before the money is sent.