Raiffeisen-Volksbank Donauwoerth EG SWIFT/BIC code

GENODEF1 – the SWIFT/BIC code of Raiffeisen-Volksbank Donauwoerth EG

GENODEF1 and GENODEF1DON are the short and the long form of the same SWIFT/BIC code, and both lead to Raiffeisen-Volksbank Donauwoerth EG in Donauwoerth. A SWIFT code tells the sending bank which institution is meant to get the money, a bit like a postal address for banks. In practice you mostly see it on international invoices, in your banking app and in the bank details that Raiffeisen-Volksbank Donauwoerth EG provides.

Further down we go through the practical questions: receiving money at Raiffeisen-Volksbank Donauwoerth EG, sending money abroad and how to verify a SWIFT code before you hit send. Remember that the SWIFT code only identifies the bank, not the person: the account number or IBAN does that part.

When will the money arrive at Raiffeisen-Volksbank Donauwoerth EG?

There is no single answer: many arrive within a day. Payments made after the cut-off time or just before weekends and holidays usually start a business day later. Sometimes a bank asks what the payment is for.

Many banks are connected to SWIFT gpi. Each gpi transfer gets a unique reference, the UETR, which your bank can use to see where the money is. Save your transfer receipt until the recipient confirms – you will need it for any trace request.

Only the sending bank can request a trace or a recall. Ask the sender for the payment receipt including the reference.

International transfers from Raiffeisen-Volksbank Donauwoerth EG: the real cost

An international bank payment costs more than the fee suggests. You pay the transfer fee, sometimes charges from correspondent banks in between and, above all, the margin on the exchange rate.

Banks do not show the margin on the rate as a cost, but you pay it all the same. A simple test: put the rate you get against the mid-market rate and work out the difference on your amount.

For many routes, a specialist provider turns out to be cheaper than a traditional bank transfer, mainly because of the exchange rate. Before your next transfer, take a minute comparing the total cost on GoldexPay rather than accepting the bank’s rate by default. You can still keep your account at Raiffeisen-Volksbank Donauwoerth EG; only the conversion and sending happen elsewhere.

Incoming international payments to Raiffeisen-Volksbank Donauwoerth EG

To receive a transfer from abroad at Raiffeisen-Volksbank Donauwoerth EG, the sender needs more than the BIC. That means: your name as registered with Raiffeisen-Volksbank Donauwoerth EG, your account number or IBAN, the BIC GENODEF1DON (or GENODEF1) and sometimes your address.

Certain banks want the bank’s address; it does no harm to include it. Check every detail before you send them – a sender rarely spots a mistake in someone else’s details.

Money from abroad does not always arrive in full. Fees for incoming transfers differ from bank to bank. Make clear with the sender who pays which costs before the money is sent.

Euro (EUR) and conversion costs

Germany uses the Euro (EUR). A payment in a foreign currency is converted into EUR – and the bank that does it picks the rate. There is rarely a separate charge for the conversion – the cost sits in the rate.

Where the conversion happens has an effect on how much arrives, as rates and margins differ per bank. Transferring the amount directly in EUR usually prevents a second conversion by Raiffeisen-Volksbank Donauwoerth EG.

The rate for EUR fluctuates throughout the day. With bigger transfers, even small difference in the rate can be worth more than the fee.

A note on our data

Our SWIFT/BIC directory is compiled from publicly available sources and we update it periodically. Still, banks merge, rename themselves or retire codes and our data may lag behind. Figures such as the number of codes come from our directory.

Before any payment of any size, always check the BIC with the recipient’s bank or the recipient. GoldexPay is an independent comparison service and not affiliated with Raiffeisen-Volksbank Donauwoerth EG. Found an error? Let us know via our contact form.

Watch out for payment fraud

Be alert if someone unexpectedly wants you to send money to a different account abroad. That GENODEF1 is a real code does not mean that the account is legitimate – fraudsters use real bank codes as well.

Never trust a phone number in the same message that contains the new account. Urgency or secrecy tend to be warning signs; a genuine business can wait for you to check. Acted too fast? Call the bank you paid from without delay and ask them to try to recall the payment and report the fraud.

Fraud can also target the receiver. Someone claims to have sent too much and wants you to refund the difference via a different route. A screenshot of a transfer proves nothing – check your own account.

Before you send: check the Raiffeisen-Volksbank Donauwoerth EG code

The most reliable place for the right code is paperwork issued by the bank. Compare that code against GENODEF1 here; if they differ, ask before you pay.

Mistakes in the SWIFT code tend to be costly more than fatal – usually the money comes back, minus fees and time lost. A mistake in the IBAN or account number is a bigger problem.

An automatic check by your bank only tells you that the IBAN exists. If your bank offers it, a name check on the recipient gives extra certainty. A small test payment is worth it for a large first payment despite the extra fee.

Paying Raiffeisen-Volksbank Donauwoerth EG in euros within SEPA

Germany belongs to the Single Euro Payments Area (SEPA), where euro transfers follow common rules. When you send euros within SEPA, the IBAN is usually enough; many banks no longer ask for the BIC.

Outside the euro and from non-SEPA countries, GENODEF1DON or GENODEF1 remains required. If your banking app asks for the BIC anyway, entering GENODEF1 is fine.

Instant euro transfers have become widely available within SEPA – whether Raiffeisen-Volksbank Donauwoerth EG offers them for your account is worth checking. As long as the payment stays in euros, the transfer tends to be cheap; costs rise once a conversion is involved.

GENODEF1 or GENODEF1DON – which one to use?

The layout of every SWIFT code never changes: four characters for the institution, two for the country and two for the location. Together, those parts make up GENODEF1.

Many payment forms accept both lengths. If a form asks for eleven characters, use GENODEF1DON; if it wants eight, use GENODEF1.

As a rule the code is written in capitals, without spaces or dashes. Look out for O versus 0 and the letter I and the digit 1; they are easy to mix up.

Choosing between the 3 SWIFT codes of Raiffeisen-Volksbank Donauwoerth EG

Raiffeisen-Volksbank Donauwoerth EG uses 3 separate SWIFT/BIC codes. One of them is the head office code, GENODEF1DON; the others belong to branches, and sometimes internal departments.

For most incoming transfers, the head office code GENODEF1DON is the right choice. If you have been given a specific code, stick to it instead of swapping it for the head office code.

Not sure which code to use? Ask the recipient or the bank itself. Branch codes are more likely to be retired than the head office code when a bank merges or closes offices.