Raiffeisenbank Aschaffenburg EG SWIFT/BIC code

GENODEF1 – the SWIFT/BIC code of Raiffeisenbank Aschaffenburg EG

Whether a recipient gives you GENODEF1 or GENODEF1AB1, you are looking at the identical address for Raiffeisenbank Aschaffenburg EG in Germany. A SWIFT code shows every bank in the chain exactly which bank should receive the money, much like a postcode for banks. You will need it mainly when dealing with payments that cross a border and payments in foreign currencies.

This page is meant to help people who sends money to an account at Raiffeisenbank Aschaffenburg EG without mistakes. The SWIFT code alone cannot identify an individual account holder; for that you need the account number or IBAN is for.

What a transfer from Raiffeisenbank Aschaffenburg EG abroad really costs

If you send money abroad from Raiffeisenbank Aschaffenburg EG, the visible fee is rarely all of what you pay. Besides the transfer fee, banks in between may take a cut, and when the money changes currency the bank usually uses a rate below the real market rate.

That exchange rate margin is often the largest cost, and it is easy to miss. An easy check: set the bank’s rate next to the mid-market rate for the same moment and work out the difference on your amount.

Specialised transfer providers frequently offer rates closer to the mid-market rate and lower fees. GoldexPay lists transfer providers next to each other, showing what actually arrives before you commit. Choosing a specialist does not mean leaving Raiffeisenbank Aschaffenburg EG – you pay the provider from your own account.

Raiffeisenbank Aschaffenburg EG: head office code versus branch codes

Our database contains 2 SWIFT/BIC codes for Raiffeisenbank Aschaffenburg EG in 1 cities. Besides the head office code GENODEF1AB1, you will find codes for regional offices and specialised units.

If nobody asks you for a branch code, go with GENODEF1AB1. Only use a branch code when the recipient explicitly asks for it, for example on an invoice or in their bank details.

The safest route is to copy the code directly from the recipient’s statement. Branch codes are more likely to be retired than GENODEF1AB1.

GENODEF1 or GENODEF1AB1 – which one to use?

Each SWIFT/BIC code has the same eight core characters: four letters for the bank, a two-letter country code and a two-character location code. In this case, the 8-character core is GENODEF1.

The 11-character version adds three more characters for a branch or department. If the last three are XXX, they simply mean the head office, which is why GENODEF1AB1 and GENODEF1 lead to the same place.

Do not add spaces when you enter GENODEF1 or GENODEF1AB1. Copying the code beats retyping it.

When will the money arrive at Raiffeisenbank Aschaffenburg EG?

How quickly a payment arrives at Raiffeisenbank Aschaffenburg EG is determined by a few things: which currency you send, how many intermediary banks are involved, cut-off times and differences in time zone. Payments made late in the day or just before a weekend or public holiday usually go out the next business day. Compliance checks on larger or unusual payments may also add a delay.

A growing number of banks use SWIFT gpi, which lets them follow a payment from bank to bank. Each gpi transfer carries a unique reference, the UETR, which your bank can use to see where the money is. Money transfer services often show tracking online showing where the payment has got.

Only the sending bank is able to request a trace; the receiving side usually has nothing to trace yet. As a recipient, you can check your account to see a partial amount.

What to give a sender who pays you at Raiffeisenbank Aschaffenburg EG

Someone abroad who wants to pay you needs several details about your account, and missing ones are a common cause of delays. That means: your name exactly as it appears on the account, your account number or IBAN, the SWIFT/BIC code GENODEF1AB1 (or GENODEF1) and usually your address.

Certain banks want the bank’s address. A typo in your account number is more trouble than it looks, so copy the details from your online banking.

Money from abroad does not always land in full. Charges on incoming payments vary from bank to bank; check the price list of Raiffeisenbank Aschaffenburg EG. For business payments, it is common to agree how the fees are split to avoid a shortfall.

Sending EUR to Raiffeisenbank Aschaffenburg EG

Germany pays in the Euro (EUR). When you pay another currency it has to be converted at some point – by your bank, by Raiffeisenbank Aschaffenburg EG or by a bank in between. There is rarely a separate charge for the conversion.

Where the conversion happens has an effect on the final amount. Compare what EUR the recipient gets via several services before choosing one.

Exchange rates move all the time. If you pay regularly, small differences in the rate make a real difference over time.

Verifying the SWIFT code of Raiffeisenbank Aschaffenburg EG

The most reliable source for the BIC is the recipient’s own bank details. Check it against GENODEF1 on this page; if they differ, ask before you pay.

Mistakes in the BIC are costly more than fatal. Remember the IBAN: an error there can be more difficult to undo than a wrong code.

Most online banking apps validate the structure of IBANs and some suggest the matching BIC. Some banks now compare the name with the account before you confirm; take any warning seriously. Sending a small amount first is worth it for a large first payment despite the extra fee.

SEPA payments and the Raiffeisenbank Aschaffenburg EG BIC

Inside SEPA, euro payments to an account in Germany follow the same rules and in most cases need only the IBAN. The BIC field is usually optional or missing for those payments.

For anything other than euros and from non-SEPA countries, GENODEF1AB1 or GENODEF1 remains required. A few forms still ask for the BIC out of habit; in that case, enter GENODEF1 or GENODEF1AB1.

Euro payments within SEPA normally land by the next business day. As long as no currency is converted, a SEPA transfer tends to be inexpensive; costs rise once a conversion is involved.

Watch out for payment fraud

One of the most common tricks goes like this: you receive a request saying that a company now has a new bank account and asking you to pay there from now on. A valid SWIFT code says nothing about whether the request is genuine: scammers use real codes of real banks.

Never rely on a phone number in the same message that contains the new account. Watch out for time pressure, unusual wording or a sender address that is slightly off. If a payment has already gone to a fraudster, contact your bank immediately.

Fraud can also work the other way: someone sends too much and wants you to refund the difference to a new account. Do not act before the money is actually in your account and check with Raiffeisenbank Aschaffenburg EG if anything seems off.

Where our SWIFT data comes from

Our SWIFT/BIC directory is compiled from publicly available sources and we update it periodically. It can happen that information here is out of date after a merger or reorganisation. Figures such as the number of codes are from our own dataset and are not confirmed by Raiffeisenbank Aschaffenburg EG.

Treat this page as a reference, rather than as the final word: the recipient’s bank details come first. We are a comparison service and not affiliated with Raiffeisenbank Aschaffenburg EG. Found an error? Tell us through the contact page.