Raiffeisenbank Gefrees EG SWIFT/BIC code

What GENODEF1 means for a payment to Raiffeisenbank Gefrees EG

GENODEF1 and GENODEF1GFS are the short and the long form of the same SWIFT/BIC code, and both lead to Raiffeisenbank Gefrees EG in Gefrees. A BIC has a single purpose: it makes sure that an international payment ends up at the right bank. You will need it mostly for payments that cross a border and payments in foreign currencies.

Below you will find the practical questions: money coming in from abroad, paying someone in another country and how to verify the code before you confirm a payment. A SWIFT code identifies a bank or branch, never a specific account.

Is GENODEF1 still correct? How to check

Have the recipient send you their bank details straight from their online banking. Check that code against GENODEF1 here; if they differ, ask before you pay.

If the code is wrong, the payment might be delayed, be returned or cost extra – sometimes after weeks of searching. 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 some suggest the matching BIC. If your bank offers it, a payee name check on the recipient gives an extra layer of safety. When you pay someone new, some people start with a small test amount.

A note on our data

This directory draws on publicly available sources and we update it periodically. It is possible that information here is out of date. Counts and locations are from our own dataset and are not confirmed by Raiffeisenbank Gefrees EG.

Treat the information on this page as a helpful check. GoldexPay is independent of Raiffeisenbank Gefrees EG, we only compare transfer services. Should you notice something that is out of date, we welcome a message via the contact page.

Which of the 2 codes of Raiffeisenbank Gefrees EG do you need?

With 2 codes, Raiffeisenbank Gefrees EG is one of the banks that register individual codes for branches. The head office code is GENODEF1GFS.

For most payments to a private or business account, the head office code GENODEF1GFS works fine. A branch code only makes sense if the account holder explicitly mentions it, which is more common for corporate accounts and trade services.

Unsure which code to use? Check with the recipient. Branch codes are more likely to change than the head office code.

GENODEF1 or GENODEF1GFS – which one to use?

A BIC is made up of a few fixed parts: characters one to four stand for the bank, characters five and six give the country and the two after that mark the location. In this case, that core is GENODEF1.

The 11-character version adds a three-character extension for a branch or department. If the last three are XXX, they simply mean the head office.

Leave out spaces or dashes when you enter GENODEF1 or GENODEF1GFS. Look out for the letter O and the digit 0 and I versus 1, a common source of typos.

SEPA payments and the Raiffeisenbank Gefrees EG BIC

Inside SEPA, euro transfers to an account in Germany follow the same rules. The BIC field is often optional in that case.

Outside the euro and from non-SEPA countries, GENODEF1GFS is still part of the payment details. If your banking app asks for the BIC regardless, adding GENODEF1 does no harm.

SEPA transfers normally land by the next business day; instant payments are faster if both banks offer them. Fees for SEPA payments are generally low.

Sending EUR to Raiffeisenbank Gefrees EG

Germany uses the Euro, with the currency code EUR. Money sent in a different currency is converted into EUR before it reaches the account. There is rarely a separate charge for that conversion – the cost sits in the rate.

Who does the conversion affects how much arrives, since every bank sets its own rate. Compare what EUR the recipient gets with different providers before choosing one.

Rates for EUR move during the day, and some providers let you lock in a rate. For regular payments, a slightly better rate make a real difference over a year.

Receiving money from abroad at Raiffeisenbank Gefrees EG

A sender in another country needs a few details from you. The basics are: your name, IBAN or account number, GENODEF1GFS or GENODEF1 and in many cases your home address.

The sender’s bank might also ask for the bank address of Raiffeisenbank Gefrees EG, in which case the Gefrees head office is the usual answer. Double-check the details before you share them, because the sender’s bank usually copies them as is.

Do not be surprised if the incoming amount is below the amount on the sender’s receipt. Intermediary banks may deduct a fee, Raiffeisenbank Gefrees EG may charge for incoming payments, and if the currency changes, a markup on the rate applies. On invoices, you can state who bears the costs.

Sending money abroad from Raiffeisenbank Gefrees EG

The price of an international transfer is made up of more than one component. You pay the transfer fee, sometimes fees charged by intermediary banks in between and, most importantly, the margin on the exchange rate when the money is converted.

Banks do not show their exchange rate markup separately, but you pay it all the same. An easy check: set the rate you get next to the mid-market rate for the same moment and look at the difference.

For many routes, a specialist provider is less expensive than a traditional bank transfer – mostly thanks to the rate. Next time you send money, take a minute comparing the total cost on GoldexPay. Using a transfer service does not require closing your account at Raiffeisenbank Gefrees EG.

When will the money arrive at Raiffeisenbank Gefrees EG?

An international transfer typically takes one to a few business days, depending on the currency, the route and the banks involved. Bank holidays in the sending or receiving country add extra days to the journey. Compliance checks on larger or unusual payments may also cause some delay, even when all details are correct.

If the money seems delayed, contact your bank for the tracking status and the transaction reference. Keep your transfer receipt until the recipient confirms – you will need it for any trace request.

If a payment has not arrived after a few business days, the person who paid should contact the bank that sent it, not the receiving bank. As a recipient, it helps to check your account to see a slightly lower amount because fees can reduce the amount.

Scams that use SWIFT codes

One of the most common tricks goes like this: an email arrives with a message claiming that a supplier now has new bank details. The fact that GENODEF1 exists is no guarantee that the account is legitimate; criminals use the codes of real banks too.

Check changed bank details through a separate channel, such as a phone number you already know, not by replying to the message. Be suspicious of time pressure, odd spelling or a sender address that is slightly off. Already paid? Contact your bank straight away and have them start a recall.

Fraud also target the receiver: someone sends too much and wants you to return the difference via a different route. Wait until the money is actually in your account.