Raiffeisenbank EG SWIFT/BIC code

Raiffeisenbank EG SWIFT code: RAEEDE31

RAEEDE31 and RAEEDE31XXX are two ways of writing the same bank identifier, and both lead to Raiffeisenbank EG in Auerbach. A BIC has a single purpose: it ensures that a cross-border transfer ends up at the right bank. You will need it mainly for transfers between countries or a currency.

We wrote this page to help people who pays into an account at Raiffeisenbank EG without mistakes. The BIC names an institution, never a single account.

Protect yourself against fake payment requests

A common scam works like this: an email arrives with a request claiming that a supplier now has new bank details and asking you to pay there from now on. The fact that RAEEDE31 exists does not mean that a request mentioning it is legitimate.

Do not rely on a phone number in the same message that contains the new account. Urgency or secrecy are warning signs. If money was sent to a fraudster, call your bank right away.

Fraud can also target the receiver. Someone sends more than agreed and wants you to return the extra via a different route. A screenshot of a transfer is no proof – check your own account.

Getting paid from abroad into a Raiffeisenbank EG account

For a transfer from abroad into your account at Raiffeisenbank EG, the person paying you needs not just the SWIFT code. Give them your name as the bank knows it, your account number or IBAN, the BIC RAEEDE31XXX and your address.

Their bank might also ask for the bank address of Raiffeisenbank EG; the head office in Auerbach is usually fine. A mistake in your account number can be more trouble than it looks, so copy the details from your online banking.

Expect that the incoming amount is below the amount on the sender’s receipt. Correspondent banks can take a fee, Raiffeisenbank EG may charge for incoming payments, and if the currency changes, a markup on the rate comes on top. Agree with the sender who covers the fees.

Euro transfers to Raiffeisenbank EG: is a BIC needed?

Since Germany is in SEPA, a euro transfer into Raiffeisenbank EG from another SEPA country normally only needs an IBAN. Many banks do not require the BIC in that case or fill it in for you.

You will still need RAEEDE31XXX for payments in other currencies or money from outside the SEPA area. If your banking app has a field for the BIC regardless, entering RAEEDE31 is fine.

Euro payments within SEPA normally land by the next business day. As long as no currency is converted, the transfer tends to be cheap; it is the conversion that costs money.

The Euro and what conversion costs you

Most accounts at Raiffeisenbank EG are typically held in EUR, the local currency. When you pay another currency, the amount has to be converted at some point – by your bank, by Raiffeisenbank EG or by a bank in between. You rarely see a separate charge for the conversion; it is built into the rate.

Who converts the money matters: every bank has its own margin. Often it is cheaper to send EUR straight away via a provider that converts near the mid-market rate, so that the receiving bank does not need to convert again.

Exchange rates change during the day. On larger amounts, even small gap in the rate adds up quickly.

Before you send: check the Raiffeisenbank EG code

The most reliable source for a SWIFT code is the bank details provided by the recipient. Compare it against RAEEDE31 here.

A wrong SWIFT code may lead to a delay, a returned payment or extra fees for investigation. Remember the IBAN: a mistake there is more difficult to undo than a wrong code.

Many banking apps validate the structure of an IBAN and sometimes look up the BIC automatically. More and more banks check the payee name against the account. For a first payment, many people start with a small test amount and wait for confirmation.

Raiffeisenbank EG: head office code versus branch codes

With 41 codes, Raiffeisenbank EG is one of the banks that register individual codes for parts of the organisation and departments. The main code is RAEEDE31XXX.

For the vast majority of incoming transfers, the head office code RAEEDE31XXX is what you need. A branch code only makes sense if the account holder explicitly mentions it.

The safest route is to copy the code directly from the recipient’s invoice. Codes can change over time, so a code from an old document is not always valid.

What the XXX in RAEEDE31XXX means

Every SWIFT/BIC code has the same eight core characters: four letters for the bank, a two-letter country code and two characters for the location. In this case, that core is RAEEDE31.

Many payment forms accept both lengths. If a form requires eleven characters, use RAEEDE31XXX, otherwise RAEEDE31 is fine.

Type the code in one piece, in capitals and without separators, exactly as shown here. Pasting the code is safer than retyping it: a typo can point to another bank.

About this information

The details here come from publicly available data which we refresh regularly. It can happen that information here is no longer current, for example after a merger. Figures such as the number of codes come from our own dataset and may differ from what Raiffeisenbank EG publishes.

See our directory here as a helpful check. GoldexPay has no connection to Raiffeisenbank EG; we are a comparison site for money transfers. Should you notice a mistake, we welcome a short note.

Paying someone abroad from your Raiffeisenbank EG account

A bank transfer abroad can cost rather more than the listed fee. On top of a fixed fee, correspondent or intermediary banks can take a cut, and if currencies are converted, the bank usually applies a rate that is less favourable than the actual market rate.

The real cost is often in the rate: many banks convert using an exchange rate that includes a margin. A simple test: put the bank’s rate against the mid-market rate and work out the difference on your amount.

For many routes, a specialist provider is cheaper than a traditional bank transfer – mostly thanks to the rate. Before your next transfer, it is worth comparing what arrives via GoldexPay rather than accepting the bank’s rate by default. Choosing a specialist does not require closing your account at Raiffeisenbank EG.

How long does an international transfer to Raiffeisenbank EG take?

There is no single answer for international payments: many land the same day or the next while others need several business days. Payments made after the cut-off time or on a weekend or public holiday usually start the next business day. Compliance checks by one of the banks can also cause a delay.

A growing number of banks are connected to SWIFT gpi. Each gpi transfer gets a unique transaction reference, the UETR that banks can use to trace it. Specialist transfer services often show tracking in their app showing where the money has got.

The bank that sent the money is able to start an official trace or a recall; the receiving side usually has nothing to trace yet. As a recipient, you can look at your account to see a slightly lower amount because fees can reduce the amount.