Psd Bank Hannover SWIFT/BIC code

GENODEF1 – the SWIFT/BIC code of Psd Bank Hannover

The 8-character code GENODEF1 and the full code GENODEF1P09 refer to the same bank: Psd Bank Hannover in Hannover, Germany. The code does one job: it makes sure that an international payment reaches the right bank. In daily life you usually come across it on international invoices, in payment forms and on the account details of Psd Bank Hannover customers.

This page is meant to help people who receives money at an account at Psd Bank Hannover and wants to get the details right. Remember that the BIC only identifies the bank, not the account: the IBAN or account number takes care of that.

Transfer times and tracking a payment to Psd Bank Hannover

An international transfer usually takes anywhere from one to several business days, depending on the currency, the route and the banks involved. Payments made after the cut-off time or on weekends and holidays usually start the next business day. Occasionally a bank wants to know about the purpose of a payment, which can hold things up.

A growing number of banks are connected to SWIFT gpi for faster and traceable payments. Every gpi transfer gets a unique reference, the UETR, which your bank can use to see where the money is. Save the payment confirmation until the money has arrived.

A delayed transfer has to be traced from the sending side. Ask the sender for the payment receipt.

GENODEF1 or GENODEF1P09 – which one to use?

The layout of every SWIFT code never changes: four characters for the institution, two for the country and a two-character location code, sometimes followed by a branch code. Combined, those parts make up GENODEF1, the code most people search for.

Many banks and apps work with either length. If a form asks for eleven characters, use GENODEF1P09, otherwise GENODEF1 is fine.

Leave out spaces, dots when you enter GENODEF1 or GENODEF1P09. Look out for O versus 0 and I versus 1; they are easy to mix up.

Receiving money from abroad at Psd Bank Hannover

To receive an international payment at Psd Bank Hannover, the sender has to have more than the BIC. In practice that means: your full name as registered with Psd Bank Hannover, your account number or IBAN, the SWIFT/BIC code GENODEF1P09 (or GENODEF1) and sometimes your address.

You can add Psd Bank Hannover and its city as well, since some forms ask for it. A mistake in your account number is harder to fix than it looks.

Money from abroad does not always land in full. Charges on incoming payments differ per bank; check the price list of Psd Bank Hannover. Agree with the sender who covers the fees before the money is sent.

How up to date is this code?

We gather SWIFT/BIC codes using publicly available data and check our list from time to time. Even so, banks merge or retire codes, so information can be out of date. The number of codes we show reflect what is in our directory, not official figures from Psd Bank Hannover.

Treat our data as a reference, not as the final word. We are an independent comparison site for money transfers and not affiliated with Psd Bank Hannover. Found outdated information? Tell us via our contact form and we will look into it.

Euro (EUR) and conversion costs

Most accounts at Psd Bank Hannover are usually held in EUR, the national currency of Germany. When you pay money in a different currency has to be converted at some point. Each conversion eats into the amount.

Where the conversion happens has an effect on how much arrives, since every bank sets its own rate. Often it is cheaper if you send EUR straight away via a transfer service with a good rate rather than letting the receiving bank convert.

Exchange rates move during the day, and some providers let you lock in a rate. On larger amounts, a seemingly small difference in the rate can be worth more than the fee.

Changed bank details? Be careful

A common scam works like this: an email arrives with a request saying that a supplier now has a new bank account. A correct SWIFT code says nothing about who owns the account.

Check changed bank details through a different channel, never via the email that asked for the change. Pressure and requests to keep it quiet are red flags – a real supplier can wait a day. If money was sent to the wrong account, contact your bank immediately – speed improves the chance of getting it back.

Scams also work the other way. Someone sends more than agreed and asks you to return the extra. A screenshot of a transfer is no proof; only your own account shows what has arrived.

Paying someone abroad from your Psd Bank Hannover account

An international bank payment costs rather more than the listed fee. Besides the transfer fee, correspondent or intermediary banks may take a cut, and if the money changes currency the bank often applies a rate below the real market rate.

The real cost is often in the rate, rather than in the fee: the bank converts at a rate with a margin built in. Check 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.

Money transfer services often offer a rate near the mid-market rate with clearer fees. GoldexPay compares what recipients receive with different services, so you can pick the cheapest route. Using a transfer service does not mean leaving Psd Bank Hannover – you pay the provider from your own account.

Euro transfers to Psd Bank Hannover: is a BIC needed?

Within the SEPA zone, euro transfers to an account in Germany follow common rules. The BIC field is often optional for those payments.

You still need GENODEF1P09 for non-euro payments or money from outside the SEPA area. If your banking app has a field for the BIC anyway, entering GENODEF1 is fine.

Instant payments in euros have become increasingly available across SEPA – whether Psd Bank Hannover offers them for your account is worth checking. As long as the payment stays in euros, a SEPA transfer is inexpensive.

Is GENODEF1 still correct? How to check

Have the recipient send you the account details straight from their online banking. If the code you have does not match GENODEF1 or GENODEF1P09, stop and ask.

Mistakes in the SWIFT code tend to be annoying rather than fatal – usually the money comes back, minus fees and time lost. An error in the account number is a bigger problem, because the money may be credited to someone else, so check that just as carefully.

An automatic check in your banking app merely confirms that the code exists. More and more banks compare the name against the account. When you pay someone new, many people send a small amount first and wait for confirmation.

Choosing between the 2 SWIFT codes of Psd Bank Hannover

Having 2 codes in 2 cities, Psd Bank Hannover belongs to the banks that register individual codes for parts of the organisation. The head office code remains GENODEF1P09.

Usually there is no need to pick a branch: transfers sent to GENODEF1P09 are routed within Psd Bank Hannover correctly. Only use a branch code when the account holder explicitly asks for it.

The best way is to copy the code straight from the account holder’s bank details. Branch codes can change over time, so do not rely on old paperwork.