Raiffeisenbank Essenbach EG SWIFT/BIC code

GENODEF1 – the SWIFT/BIC code of Raiffeisenbank Essenbach EG

If an invoice shows GENODEF1 or GENODEF1ENY, it is the identical address for Raiffeisenbank Essenbach EG in Germany. A SWIFT code shows the sending bank which institution is meant to get the money. It comes up mainly for transfers between countries.

Further down you will find the practical side: receiving money at Raiffeisenbank Essenbach EG, paying someone in another country and how to verify a SWIFT code before you confirm a payment. The BIC identifies an institution, not a specific account.

8 or 11 characters: GENODEF1 versus GENODEF1ENY

Each SWIFT/BIC code starts with the same eight core characters: four letters for the bank, two letters for the country and two characters for the location. For Raiffeisenbank Essenbach EG, that core is GENODEF1.

Many banks and apps accept both lengths. If a form requires eleven characters, use GENODEF1ENY.

Do not add spaces, dots when you type GENODEF1; the code is always written in one block. Look out for O versus 0 and I versus 1.

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

Because Germany is part of SEPA, a euro payment to Raiffeisenbank Essenbach EG from another SEPA country normally requires just an IBAN. Most banking apps no longer ask for the BIC in that case.

You still need GENODEF1ENY when sending non-euro payments or money from outside the SEPA area. Some banks and apps also show a field for the BIC out of habit; if so, enter GENODEF1.

Euro payments within SEPA normally land by the next business day; instant payments are faster if both banks offer them. Fees for SEPA payments are generally low as long as everything stays in euros.

Is GENODEF1 still correct? How to check

Ask the recipient to send you the bank details directly from their online banking. Check that code with GENODEF1 here and ask if anything does not match.

Errors in the BIC are costly more than disastrous: often the payment comes back, minus fees. Do not forget the IBAN: a mistake there is harder to undo than a wrong BIC.

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. More and more banks compare the name with the account before you confirm; take any warning seriously. A small test payment is a sensible step for large sums despite the extra fee.

Paying into Raiffeisenbank Essenbach EG in EUR

Accounts at Raiffeisenbank Essenbach EG are usually held in EUR, the local currency of Germany. Money sent in a different currency is converted into EUR – and the bank that does it picks the rate. Every conversion eats into something, even when no fee is shown.

Who does the conversion affects how much arrives, since every bank sets its own rate. Often you pay less to send EUR directly through a transfer service with a good rate, so that the receiving bank does not need to convert again.

Exchange rates move all the time – some services let you fix a rate in advance. If you pay regularly, a slightly better rate add up over a year.

Head office or branch code at Raiffeisenbank Essenbach EG?

Having 2 codes, Raiffeisenbank Essenbach EG belongs to the banks that register individual codes for branches and departments. The head office code remains GENODEF1ENY.

In most cases there is no need to look up a branch: transfers addressed to GENODEF1ENY reach Raiffeisenbank Essenbach EG without problems. When you receive a branch code, stick to it instead of replacing it for the head office code.

The safest approach is to take the code directly from the recipient’s statement. Codes for branches are more likely to change than the head office code when a bank merges or closes offices.

Paying someone abroad from your Raiffeisenbank Essenbach EG account

A bank transfer abroad can cost more than the listed fee. On top of the transfer fee, banks in between may deduct a fee, and if currencies are converted the bank usually uses a rate below the real market rate.

The markup on the rate tends to be the biggest item. Check their rate with the mid-market rate. The difference is your real conversion cost.

Specialist money transfer services often offer a rate near the mid-market rate and lower fees. GoldexPay lists these services side by side, showing the amount the recipient gets before you commit. You can still use your account at Raiffeisenbank Essenbach EG.

Incoming international payments to Raiffeisenbank Essenbach EG

Someone abroad who wants to pay you will ask for a few details about your account. Share the account holder’s name, your account number or IBAN, the BIC GENODEF1ENY and your address, which some banks require.

It helps to include the bank name and its city as well, since some forms ask for it. A mistake in the IBAN can be harder to fix than you might think.

The amount you receive is often lower than what was sent. Charges on incoming payments differ from bank to bank; check the price list of Raiffeisenbank Essenbach EG. Make clear with the sender who pays which costs before the money is sent.

A note on our data

This directory draws on public sources and we update it periodically. It can happen that information here is no longer current, for example after a merger. The figures we show reflect our own data, not official figures from Raiffeisenbank Essenbach EG.

For a payment of any size, always check the code with Raiffeisenbank Essenbach EG or the recipient. GoldexPay is independent of Raiffeisenbank Essenbach EG. If you notice a mistake, we appreciate a short note via the contact page.

Watch out for payment fraud

A common scam works like this: an email arrives with a message saying that a supplier has new bank details and asking you to pay there from now on. A real SWIFT code tells you nothing about whether the request is genuine: scammers use real codes of real banks.

Verify changed bank details through a different channel, such as a phone number you already know. Urgency and requests to keep it quiet tend to be warning signs. Acted too fast? Call your bank without delay and have them try to recall the payment; also report it to the police.

People receiving money can be targeted as well: one known trick is an overpayment and then sends a request to send back the difference abroad. A payment confirmation from the sender proves nothing; only your own account shows what has arrived.

When will the money arrive at Raiffeisenbank Essenbach EG?

There is no single answer for international payments: many arrive the same day or the next. Payments made after the cut-off time or on weekends and holidays often go out a business day later. Compliance checks by one of the banks may also add a delay, regardless of the details.

A growing number of banks use SWIFT gpi. Each gpi transfer gets a unique transaction reference, the UETR, which your bank can use to see where the money is. Specialist transfer services often show tracking in their app showing how far the money is.

If the money does not arrive within the expected time, the person who paid needs to contact the bank that sent it. On the receiving end, you can look at your statements to see a partial amount because fees can reduce the amount.