Freisinger Bank EG Volksbank-Raiffeisenbank SWIFT/BIC code

SWIFT/BIC code of Freisinger Bank EG Volksbank-Raiffeisenbank

The short code GENODEF1 and the 11-character code GENODEF1FSY identify the same bank: Freisinger Bank EG Volksbank-Raiffeisenbank in Eching, Germany. Every bank on the SWIFT network uses BIC codes to route payments between countries to the right bank. In daily life you usually see it on invoices from abroad, in payment forms and in the bank details that Freisinger Bank EG Volksbank-Raiffeisenbank provides.

We wrote this page to help anyone who receives money at an account at Freisinger Bank EG Volksbank-Raiffeisenbank and wants to get the details right. The SWIFT code on its own cannot identify an individual account holder; for that you need the IBAN or account number is for.

GENODEF1 or GENODEF1FSY – which one to use?

Each SWIFT/BIC code starts with the same eight core characters: four letters for the bank, two letters for the country and a two-character location code. Combined, those parts form GENODEF1.

The long version has three more characters for a branch or department. If the last three are XXX, the code points to the head office, so GENODEF1FSY and GENODEF1 are interchangeable.

As a rule the code is typed in capitals. Copying the code beats retyping it.

Paying Freisinger Bank EG Volksbank-Raiffeisenbank in euros within SEPA

Germany is part of the SEPA area, where euro transfers follow common rules. When you send euros within SEPA, the IBAN is usually enough.

You will still need GENODEF1FSY for non-euro payments or money from outside the SEPA area. If a payment form has a field for the BIC anyway, adding GENODEF1 is fine.

Instant euro transfers have become increasingly supported across SEPA – whether Freisinger Bank EG Volksbank-Raiffeisenbank offers them for your account is worth checking. Fees for SEPA payments tend to be low, as long as no currency conversion is involved.

Receiving money from abroad at Freisinger Bank EG Volksbank-Raiffeisenbank

To receive an international payment at Freisinger Bank EG Volksbank-Raiffeisenbank, the person paying you has to have not just the SWIFT code. What they need is: your name, IBAN or account number, GENODEF1FSY and in many cases your home address.

Some sending banks also ask for the address of Freisinger Bank EG Volksbank-Raiffeisenbank; it does no harm to include it. A typo in the IBAN is harder to fix than you might think.

Expect that the amount credited is smaller than the amount on the sender’s receipt. Fees for incoming transfers vary per bank – the price list of Freisinger Bank EG Volksbank-Raiffeisenbank tells you what applies. Agree with the sender who covers the fees before the money is sent.

Is GENODEF1 still correct? How to check

The safest source for a SWIFT code is the bank details provided by the recipient – an invoice, a statement or a screenshot from online banking. Compare that code against GENODEF1 on this page and ask if anything does not match.

A wrong SWIFT code may lead to delays, a payment being sent back or extra fees. A mistake in the account number can be more serious, because the money may be credited to someone else, so check that just as carefully.

An automatic check by your bank only tells you that the IBAN is valid, not that it is the right account. Some banks now compare the payee name against the account; take any warning seriously. For a first payment, some people send a small test amount and wait for confirmation.

Where our SWIFT data comes from

We collect SWIFT/BIC codes from publicly available data and check them from time to time. Banks merge, change names and retire codes – a directory can be a step behind. Counts and locations are from our own dataset and are not confirmed by Freisinger Bank EG Volksbank-Raiffeisenbank.

See our directory on this page as a helpful check, and let the details from the recipient or Freisinger Bank EG Volksbank-Raiffeisenbank have the final say. GoldexPay has no connection to Freisinger Bank EG Volksbank-Raiffeisenbank, we only compare transfer services. Should you notice a mistake, we welcome a short note via the contact page.

Protect yourself against fake payment requests

Fraudsters regularly send fake invoices with changed bank details, sometimes in an email that looks completely genuine. That GENODEF1 is a real code is no guarantee that the account is legitimate.

Always verify a change of bank details through a phone call, using a number you already had. Pressure or secrecy tend to be warning signs; a genuine business can wait for you to check. When a payment was sent to the wrong account, call your bank right away: the sooner they act, the better the chance of a recall.

Fraud also target the receiver. Someone sends more than agreed and asks you to refund the extra. Do not act before the money is actually in your account.

Freisinger Bank EG Volksbank-Raiffeisenbank: head office code versus branch codes

Having 2 codes in 2 cities, Freisinger Bank EG Volksbank-Raiffeisenbank belongs to the banks that use separate codes for parts of the organisation and departments. The main code is GENODEF1FSY.

Unless the recipient tells you otherwise, use GENODEF1FSY or its short form GENODEF1. A branch code only makes sense when the account holder specifically asks for it, which is more common for corporate accounts and trade services.

The safest route is to copy the code straight from the account holder’s statement. Branch codes can change when banks reorganise.

When will the money arrive at Freisinger Bank EG Volksbank-Raiffeisenbank?

How fast a payment reaches Freisinger Bank EG Volksbank-Raiffeisenbank is determined by several factors: the currency, the number of banks in between, daily processing deadlines and time zones. Payments made late in the day or on a weekend or public holiday often start a business day later. Sometimes a bank wants to know about the purpose of a payment, which can hold things up.

A growing number of banks use SWIFT gpi, which lets them follow a payment from bank to bank. Every gpi transfer gets a unique reference, the UETR that banks can use to trace it. Specialist transfer services usually provide tracking in their app showing how far the money has got.

If the money does not arrive within the expected time, the person who paid needs to contact the bank that sent it. Ask the sender for a copy of the payment confirmation including the reference; that often settles the question quickly.

Euro (EUR) and conversion costs

Accounts at Freisinger Bank EG Volksbank-Raiffeisenbank are usually held in EUR, the local currency. A payment in a foreign currency will be converted into EUR – and the bank that does it picks the rate. Every conversion eats into something, even when no fee is shown.

Where the conversion happens has an effect on how much arrives, as rates and margins differ per bank. In many cases you pay less if you send EUR straight away 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, and some providers let you lock in a rate. With bigger transfers, even seemingly small gap in the rate can be worth more than the fee.

What a transfer from Freisinger Bank EG Volksbank-Raiffeisenbank abroad really costs

The price of an international transfer is made up of more than one component – not just the fee on your screen. 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, not in the fee: the bank converts at a rate with a margin built in. An easy check: set the bank’s rate against the mid-market rate and look at the difference.

For many currency pairs, a transfer service turns out to be less expensive than a traditional bank transfer, mainly because of the exchange rate. Before your next transfer, take a minute to compare the total cost via GoldexPay. You can always keep your account at Freisinger Bank EG Volksbank-Raiffeisenbank as the source of the money; only the conversion and sending happen elsewhere.