Raiffeisenbank Elsavatal EG SWIFT/BIC code

SWIFT/BIC code of Raiffeisenbank Elsavatal EG

GENODEF1 and GENODEF1EAU are two spellings of the same SWIFT/BIC code, and both point to Raiffeisenbank Elsavatal EG in Eschau. The code does one job: it makes sure that a cross-border transfer reaches the right bank. In daily life you mostly come across it on invoices from abroad, in your banking app and in the bank details that Raiffeisenbank Elsavatal EG provides.

Further down you will find the practical questions: money coming in from abroad, sending money abroad and how to check a SWIFT code before you confirm a payment. The BIC identifies an institution, not a single account; the IBAN or account number does that.

Incoming international payments to Raiffeisenbank Elsavatal EG

Someone abroad who wants to pay you needs several details from you, and missing ones are a common cause of delays. That means: your full name as registered with Raiffeisenbank Elsavatal EG, your account number or IBAN, the BIC GENODEF1EAU and, often, your postal address.

It helps to add the bank name and its city as well, because some payment forms have separate fields for them. A mistake in the IBAN can be harder to fix than you might think, so copy the details from your online banking.

What lands in your account is often lower than the amount sent. Correspondent banks can take a fee, and if the money is converted, a markup on the rate comes on top. Agree with the sender who covers the fees before the money is sent.

Changed bank details? Be careful

Criminals often use fake invoices containing changed bank details. A real SWIFT code says nothing about whether the request is genuine.

Do not trust a phone number from the same email that announces the new account. Be suspicious of time pressure, odd spelling or a sender address that is slightly off. If a payment was sent to a fraudster, contact your bank immediately: the sooner they act, the better the chance of a recall.

People receiving money are targeted too: one known trick is an overpayment and then sends a request to refund the difference to another account. A payment confirmation from the sender proves nothing.

Transfer times and tracking a payment to Raiffeisenbank Elsavatal EG

There is no fixed answer for international payments: many land the same day or the next while others need several business days. Weekends and public holidays in the sending or receiving country add a day or more. Sometimes a bank wants to know what the payment is for, which can hold things up.

When a payment takes longer than expected, ask your bank about the status or the UETR so they can trace it along the chain. Specialist transfer services often provide a status online showing where the money has got.

If a payment has not arrived within the expected time, the person who paid needs to contact the bank that sent it, not the receiving bank. Request from the sender the payment receipt including the reference – it helps your own bank look for the money.

8 or 11 characters: GENODEF1 versus GENODEF1EAU

A SWIFT code is made up of fixed blocks: the first four letters identify the bank, the next two show the country and the two after that indicate the location. The result is GENODEF1 for Raiffeisenbank Elsavatal EG.

The 11-character version has three more characters that identify a branch or department. When those three characters are XXX, the code points to the head office, which is why GENODEF1EAU and GENODEF1 lead to the same place.

In practice the code is typed in capitals, without spaces or dashes. Copying the code beats typing it by hand, because one wrong letter changes the bank.

Choosing between the 2 SWIFT codes of Raiffeisenbank Elsavatal EG

Raiffeisenbank Elsavatal EG uses 2 separate SWIFT/BIC codes across 2 locations. One of them is the head office code, GENODEF1EAU; the rest identify branches or departments.

If nobody asks you for a branch code, use GENODEF1EAU or its short form GENODEF1. Branch codes are only needed when the recipient’s bank specifically asks for it, which is more common for corporate accounts and specialised services.

If you are not sure, check with the recipient which code their bank gave them. Codes for branches are more likely to be retired than GENODEF1EAU when a bank merges or closes offices.

SEPA payments and the Raiffeisenbank Elsavatal EG BIC

Within the SEPA zone, euro transfers to an account in Germany follow the same rules, so the IBAN does the job in most cases. The BIC field is often optional in that case.

You will still need GENODEF1EAU for non-euro payments or transfers from countries outside SEPA. If a payment form asks for the BIC regardless, adding GENODEF1 is fine.

Instant euro transfers have become widely available across SEPA. As long as no currency is converted, the transfer tends to be cheap.

Before you send: check the Raiffeisenbank Elsavatal EG code

The safest source for a SWIFT code is the bank details provided by the recipient: an invoice, a bank statement or their online banking. When the code you were given differs from GENODEF1 or GENODEF1EAU, stop and ask – contact the recipient or Raiffeisenbank Elsavatal EG.

Mistakes in the BIC are annoying rather than fatal: often the payment comes back, minus fees. Do not forget the account number: an error there is more difficult to undo than a wrong code.

Many banking apps check the structure of an IBAN and sometimes look up the BIC automatically, but that does not prove the account belongs to the right person. Where available, a payee name check before sending gives an extra layer of safety. For a first payment, some people start with a small test amount.

Sending money abroad from Raiffeisenbank Elsavatal EG

What you pay for a payment abroad is made up of more than one component – not just the fee on your screen. On top of a fixed fee, correspondent or intermediary banks may take a cut, and if currencies are converted, the bank often applies a rate below the actual market rate.

Most of the cost usually sits in the exchange rate, rather than in the fee: the bank converts using an exchange rate with a margin built in. Compare their rate with the mid-market rate, the midpoint between buy and sell rates you see on financial sites; the gap is what conversion costs you.

Specialised transfer providers often offer a rate near the mid-market rate and lower fees. Before your next transfer, it is worth comparing the total cost via GoldexPay. Choosing a specialist does not require leaving Raiffeisenbank Elsavatal EG: you simply pay the service from your account.

How up to date is this code?

This directory is compiled from publicly available sources. Banks merge, change names and retire codes, and a directory never catches every change immediately. The number of codes we show are based on our own data and not on information from Raiffeisenbank Elsavatal EG itself.

For a payment that matters, always confirm the code with the recipient’s bank or with the recipient. GoldexPay is an independent comparison site and not affiliated with Raiffeisenbank Elsavatal EG. Spotted an error? Tell us via our contact form so we can correct it.

Sending EUR to Raiffeisenbank Elsavatal EG

Most accounts at Raiffeisenbank Elsavatal EG are typically held in EUR, the national currency. When you pay money in a different currency it gets converted somewhere along the way – by your bank, by Raiffeisenbank Elsavatal EG or by a bank in between. Each conversion eats into something, even when no fee is shown.

Where the conversion happens has an effect on the final amount, as rates and margins differ per bank. In many cases you pay less to send EUR straight away through a provider with a good rate rather than letting the receiving bank convert.

The rate for EUR fluctuates constantly, so the amount you see is usually only valid for a short time. With bigger transfers, a seemingly small difference in the rate can be worth more than the fee.