Raiffeisenbank EG Borken SWIFT/BIC code

GENODEF1 – the SWIFT/BIC code of Raiffeisenbank EG Borken

If an invoice shows GENODEF1 or GENODEF1BOY, you are looking at the same address for Raiffeisenbank EG Borken in Germany. Banks worldwide use these codes to direct payments between countries to the right institution. You will need it mostly when dealing with transfers between countries.

We wrote this page to help people who sends money to an account at Raiffeisenbank EG Borken without mistakes. The SWIFT code on its own cannot identify an individual account holder; for that you need the account number or IBAN is for.

Why Raiffeisenbank EG Borken has an 8- and an 11-character code

The structure of a BIC is always the same: four characters for the institution, a two-letter country code and two for the location, sometimes followed by a branch code. For Raiffeisenbank EG Borken, the 8-character core is GENODEF1.

Most banks and apps work with either length. If yours asks for eleven characters, use GENODEF1BOY, otherwise GENODEF1 is fine.

Enter the code in one piece, in upper case and without separators, exactly as shown here. A single letter may route a payment to a different institution, so copy it carefully.

Paying into Raiffeisenbank EG Borken in EUR

Germany pays in the Euro, code EUR. Money sent in a different currency will be exchanged into EUR on its way to Raiffeisenbank EG Borken – and the bank that does it picks the rate. There is rarely a separate charge for that conversion.

Which bank converts the payment makes a difference, because each party uses its own rate. Sending the money directly in EUR often avoids an extra conversion at the receiving end – as long as your own rate is good.

Exchange rates move during the day, and some providers let you lock in a rate. If you pay regularly, a slightly better rate add up over a year.

Raiffeisenbank EG Borken: head office code versus branch codes

We have 2 SWIFT/BIC codes for Raiffeisenbank EG Borken. Next to the head office code GENODEF1BOY, you will find codes for individual branches and departments.

For most incoming transfers, the head office code GENODEF1BOY is what you need. Just use a branch code when the account holder explicitly asks for it, for example on a letter or invoice.

Not sure which code applies? Ask the recipient, or look at a recent statement from Raiffeisenbank EG Borken. Codes can change when banks reorganise.

When will the money arrive at Raiffeisenbank EG Borken?

An international transfer usually needs one to a few business days – it depends on currency, route and the banks in between. Bank holidays in either country add a day or more, since banks do not process on those days. Sometimes a bank asks about the purpose of a payment before releasing it.

A growing number of banks are connected to SWIFT gpi. Every gpi transfer carries a unique transaction reference, the UETR, which your bank can use to see where the money is. Money transfer services usually provide tracking in their app so you can see where the payment is.

Only the sending bank is able to start an official trace or a recall; the receiving side usually has nothing to trace yet. Request from the sender a copy of the payment confirmation with the date and reference; that often settles the question quickly.

What a transfer from Raiffeisenbank EG Borken abroad really costs

A bank transfer abroad can cost rather more than the fee suggests. Besides the transfer fee, banks in between can deduct a fee, and when the money changes currency, the bank usually applies a rate that is less favourable than the real market rate.

Banks rarely show the margin on the rate separately. Compare the rate you are offered with the mid-market rate.

For a lot of routes, a specialist provider turns out to be cheaper than a traditional bank transfer, mainly because of the exchange rate. GoldexPay compares these services next to each other, showing what actually arrives before you commit. You can still keep your account at Raiffeisenbank EG Borken to fund the transfer; only the conversion and sending happen elsewhere.

Getting paid from abroad into a Raiffeisenbank EG Borken account

For a transfer from abroad into your account at Raiffeisenbank EG Borken, the person paying you needs more than the SWIFT code. The basics are: your name, account number or IBAN, GENODEF1BOY and often your postal address.

It helps to add Raiffeisenbank EG Borken and Bad Zwesten as well. A typo in the IBAN can be harder to fix than you might think; copy them from your banking app rather than typing.

What lands in your account is often less than the amount sent. Fees for incoming transfers vary from bank to bank – the price list of Raiffeisenbank EG Borken tells you what applies. Agree with the sender who pays which costs, especially for larger amounts.

How up to date is this code?

We collect SWIFT/BIC codes using publicly available data and check our list regularly. Still, banks merge or change codes and our data may lag behind. The number of codes we show are based on what is in our directory, not official figures from Raiffeisenbank EG Borken.

Before a payment that matters, always confirm the BIC with the recipient’s bank or with the recipient. We are an independent comparison site for money transfers and not affiliated with Raiffeisenbank EG Borken. Should you notice a mistake, we appreciate a short note.

Changed bank details? Be careful

Scammers regularly send fake invoices with new bank details. A valid SWIFT code says nothing about who owns the account – scammers simply use real codes.

Before paying, confirm a change of bank details through a phone call on a number you know, not one from the message. Pressure and requests to keep it quiet are red flags – a real supplier can wait a day. Acted too fast? Contact the bank you paid from straight away and ask them to try to recall the payment; also report it to the police.

People receiving money can be targeted as well: a classic trick is a buyer who pays too much followed by a request to refund the difference abroad. Do not act before the money has really arrived – ask Raiffeisenbank EG Borken if something looks wrong.

Verifying the SWIFT code of Raiffeisenbank EG Borken

Ask the recipient to send you the account details straight from their online banking. Check it against GENODEF1 on this page.

A wrong SWIFT code may lead to delays, a payment being sent back or extra fees for investigation. Remember the account number: an error there can be harder to undo than a wrong code.

Most online banking apps validate the format of an IBAN and sometimes look up the BIC automatically – that confirms the format, not the owner. More and more banks check the payee name with the account before you confirm; take any warning seriously. Sending a small amount first is a sensible step for a large first payment despite the extra fee.

Euro transfers to Raiffeisenbank EG Borken: is a BIC needed?

Since Germany is part of SEPA, a euro payment to Raiffeisenbank EG Borken from within the SEPA area normally requires just an IBAN. Most banking apps no longer ask for the BIC in that case.

For anything other than euros and from non-SEPA countries, GENODEF1BOY is still part of the payment details. Some banks and apps also show a field for the BIC out of habit; in that case, fill in GENODEF1 or GENODEF1BOY.

Instant euro transfers are widely supported within SEPA. As long as the payment stays in euros, a SEPA transfer is inexpensive; it is the conversion that costs money.