Raiffeisen-Bank Eschweiler EG SWIFT/BIC code

Raiffeisen-Bank Eschweiler EG SWIFT code: GENODED1

The short code GENODED1 and the 11-character code GENODED1RSC identify one and the same institution: Raiffeisen-Bank Eschweiler EG, with its head office in Eschweiler. The code does one job: it makes sure that an international payment ends up at the right bank. You will need it mostly for transfers between countries.

Below you will find the practical questions: receiving money at Raiffeisen-Bank Eschweiler EG, sending money abroad and how to verify the code before you confirm a payment. Keep in mind that the SWIFT code just identifies the bank, not the account: the IBAN or account number does that part.

What the XXX in GENODED1RSC means

Each SWIFT/BIC code has the same eight core characters: a four-letter bank code, two letters for the country and a two-character location code. Together, those parts form GENODED1 – the version you usually see online.

The long version adds three more characters for a branch or department. If the last three are XXX, they simply mean the head office, so GENODED1RSC and GENODED1 are interchangeable.

Enter the code in one piece, in upper case and without separators. A wrong letter can send the money to a different institution.

Verifying the SWIFT code of Raiffeisen-Bank Eschweiler EG

The most reliable source for a SWIFT code is the bank details provided by the recipient – an invoice, a statement or a screenshot from online banking. When the code you were given differs from GENODED1 or GENODED1RSC, do not guess: check with the recipient or with Raiffeisen-Bank Eschweiler EG directly.

If the code is wrong, the payment may be delayed, bounce back or cost extra – sometimes after weeks of searching. An error in the account number can be a bigger problem.

Many banking apps check the structure of IBANs and sometimes look up the BIC automatically – that confirms the format, not the owner. More and more banks compare the payee name against the account before you confirm; take any warning seriously. For a first payment, some people send a small test amount.

International transfers from Raiffeisen-Bank Eschweiler EG: the real cost

When you transfer money abroad from Raiffeisen-Bank Eschweiler EG, the fee you see is rarely all of what you pay. There is the fee for the transfer itself, sometimes charges from correspondent banks in between and, most importantly, the exchange rate markup if the currency changes.

Most of the cost usually sits in the exchange rate: the bank converts using an exchange rate with a margin built in. Compare the rate you are offered with the mid-market rate, the midpoint between buy and sell rates you see on financial sites.

For many routes, a specialist provider turns out to be less expensive than a traditional bank transfer. Before your next transfer, it is worth comparing what arrives on GoldexPay rather than accepting the bank’s rate by default. Using a transfer service does not require leaving Raiffeisen-Bank Eschweiler EG – you pay the provider from your own account.

Receiving money from abroad at Raiffeisen-Bank Eschweiler EG

A sender in another country will ask for several details about your account. Give them your name as the bank knows it, the IBAN or account number, the BIC GENODED1RSC and your address.

Some sending banks also ask for the address of Raiffeisen-Bank Eschweiler EG in Eschweiler. Double-check the details before you share them, because the sender’s bank usually copies them as is.

Money from abroad does not always arrive in full. Charges on incoming payments vary per bank; check the price list of Raiffeisen-Bank Eschweiler EG. On invoices, you can agree who bears the costs, so that nobody is left short.

Paying Raiffeisen-Bank Eschweiler EG in euros within SEPA

Germany is part of the SEPA area. When you send euros from another SEPA country, the IBAN is usually enough.

A SWIFT code like GENODED1 does come into play for payments in other currencies. A few banks and apps still ask for the BIC; if so, fill in GENODED1.

SEPA transfers usually arrive by the next business day, and instant transfers in seconds where both banks support them. Fees for SEPA transfers tend to be low.

Which of the 2 codes of Raiffeisen-Bank Eschweiler EG do you need?

Raiffeisen-Bank Eschweiler EG uses 2 separate SWIFT/BIC codes. Only one is the head office code; the others identify branches or departments.

If nobody asks you for a branch code, use GENODED1RSC or its short form GENODED1. When you receive a specific code, use it as it is instead of replacing it for the head office code.

The best way is to copy the code directly from the recipient’s statement. Codes can change when banks reorganise, so do not rely on old paperwork.

About this information

The details here are taken from public sources that we update regularly. It can happen that a code on this page is out of date, for example after a merger. Counts and locations are from our own dataset and are not confirmed by Raiffeisen-Bank Eschweiler EG.

For any payment of any size, check the BIC with the recipient’s bank or the recipient. GoldexPay is an independent comparison site and not part of Raiffeisen-Bank Eschweiler EG. Spotted outdated information? Tell us via our contact form.

Euro (EUR) and conversion costs

The currency of Germany is the Euro (EUR). If you send money in a different currency, the amount gets converted at some point – by your bank, by Raiffeisen-Bank Eschweiler EG or by a bank in between. There is rarely a separate charge for the conversion.

Who does the conversion affects the final amount, since every bank sets its own rate. Transferring the money directly in EUR usually prevents a second conversion, provided the rate you get is fair.

Rates for EUR move all the time – some services let you fix a rate in advance. If you pay regularly, a slightly better rate make a real difference over a year.

When will the money arrive at Raiffeisen-Bank Eschweiler EG?

An international transfer typically takes one to a few business days – it depends on currency, route and the banks in between. Transfers sent after the cut-off time or just before weekends and holidays usually go out a business day later. Sometimes a bank wants to know what the payment is for before releasing it.

Many banks use SWIFT gpi, which lets them follow a payment from bank to bank. Every payment gets a unique reference, the UETR that banks can use to trace it. Specialist transfer services usually provide a status in their app so you can see how far the money is.

A missing payment has to be traced from the sending side on the basis of the transfer details. On the receiving end, you can look at your statements for a slightly lower amount, since fees may have been deducted.

Changed bank details? Be careful

A common scam goes like this: an email arrives with a request claiming that a contact now has new bank details. A valid SWIFT code says nothing about who owns the account – scammers simply use real codes.

Do not rely on a phone number in the same message that announces the new account. Be suspicious of urgent requests, odd spelling or a sender address that is slightly off. Acted too fast? Contact your bank without delay and have them start a recall.

Scams also work the other way: someone sends too much and wants you to return the extra via a different route. A screenshot of a transfer proves nothing; only your own account shows what has arrived.