Raiffeisenbank Hochfranken West EG SWIFT/BIC code

GENODEF1 – the SWIFT/BIC code of Raiffeisenbank Hochfranken West EG

The 8-character code GENODEF1 and the full code GENODEF1SZZ identify the same bank: Raiffeisenbank Hochfranken West EG in Schwarzenbach Am Wald, Germany. Banks worldwide use BIC codes to route payments between countries to the right institution. In practice you usually see the code on international invoices, in your banking app and on the account details that Raiffeisenbank Hochfranken West EG provides.

On this page you will find what the code is put together, when you need it and what else you need for a transfer to or from Raiffeisenbank Hochfranken West EG. Keep in mind that the BIC just identifies the bank, not the person: the account number or IBAN does that part.

About this information

We collect bank codes from public sources and check them from time to time. It can happen that a code on this page is no longer current after a merger or reorganisation. Figures such as the number of codes come from our directory and are not confirmed by Raiffeisenbank Hochfranken West EG.

See our directory on this page as a handy check and rely on the recipient or Raiffeisenbank Hochfranken West EG for the final confirmation. GoldexPay is not affiliated with Raiffeisenbank Hochfranken West EG; we are a comparison site for money transfers. If you notice something that is out of date, we appreciate a short note.

Is GENODEF1 still correct? How to check

Ask the recipient to send you their bank details straight from their online banking. Compare it against GENODEF1 here and ask if anything does not match.

An incorrect BIC can cause delays, a returned payment or additional charges. Remember the IBAN: a mistake there is harder to undo than a wrong BIC.

A validity check by your bank merely confirms that the code is valid – not that it belongs to the person you mean to pay. If your bank offers it, a payee name check before sending gives an extra layer of safety. Sending a small amount first is worth it for a large first payment.

Sending money abroad from Raiffeisenbank Hochfranken West EG

If you transfer money abroad through Raiffeisenbank Hochfranken West EG, the visible fee is rarely all of what you pay. Besides a fixed fee, correspondent or intermediary banks can deduct a fee, and when currencies are converted the bank often uses a rate that is less favourable than the actual market rate.

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

For many currency pairs, a transfer service is less expensive than a traditional bank transfer – mostly thanks to the rate. Before your next transfer, it is worth comparing the total cost on GoldexPay. You can always use your account at Raiffeisenbank Hochfranken West EG.

Do you need GENODEF1 for a SEPA transfer?

Because Germany is in the SEPA zone, a euro transfer to Raiffeisenbank Hochfranken West EG from within the SEPA area normally only needs the IBAN. Many banks no longer ask for the BIC for these payments.

You will still need GENODEF1SZZ for payments in other currencies or money from outside the SEPA area. Some forms still show a field for the BIC; if so, enter GENODEF1.

SEPA transfers normally land by the next business day. Charges on SEPA transfers tend to be low.

GENODEF1 or GENODEF1SZZ – which one to use?

A BIC is built from fixed blocks: characters one to four identify the bank, characters five and six show the country and the two after that indicate the location. For Raiffeisenbank Hochfranken West EG, that core is GENODEF1.

XXX at the end of GENODEF1SZZ is not a missing value or an error: it indicates the head office of Raiffeisenbank Hochfranken West EG. Some forms insist on 11 characters, in which case you can enter XXX after GENODEF1.

Leave out spaces when you type GENODEF1. Copying the code beats retyping it: a typo can point to another bank.

Raiffeisenbank Hochfranken West EG: head office code versus branch codes

Our database contains 2 SWIFT/BIC codes for Raiffeisenbank Hochfranken West EG. Besides the head office code GENODEF1SZZ, you will find codes for regional offices and specialised units.

For the vast majority of payments to a private or business account, the head office code GENODEF1SZZ is the right choice. Branch codes are only needed if the recipient’s bank specifically asks for it.

Unsure which code applies? Ask the recipient or the bank itself. Codes for branches are more likely to be retired than the head office code.

Protect yourself against fake payment requests

Fraudsters often use payment requests with new bank details. A real SWIFT code tells you nothing about whether the request is genuine.

Never trust contact details from the same email that announces the new account. Be suspicious of urgent requests, unusual wording or a sender address that is slightly off. Already paid? Contact your bank straight away and ask them to start a recall and report the fraud.

Recipients are targeted too: a classic trick is an overpayment and then sends a request to refund the difference to another account. Do not act before the money has really arrived and check with Raiffeisenbank Hochfranken West EG if anything seems off.

Transfer times and tracking a payment to Raiffeisenbank Hochfranken West EG

How fast a transfer reaches Raiffeisenbank Hochfranken West EG depends on several factors: the currency, the number of banks in between, daily processing deadlines and time zones. Payments made after the cut-off time or just before weekends and holidays often start the next business day. Sometimes a bank asks what the payment is for.

Many banks use SWIFT gpi. Every payment carries a unique transaction reference, the UETR that banks can use to trace it. Save your transfer receipt until the money has arrived – you will need it for any trace request.

The bank that sent the money is able to request a trace or a recall; the receiving side usually has nothing to trace yet. Request from the sender the payment receipt including the reference.

Paying into Raiffeisenbank Hochfranken West EG in EUR

Accounts at Raiffeisenbank Hochfranken West EG are typically held in EUR, the national currency. A payment in a foreign currency is converted into EUR on its way to Raiffeisenbank Hochfranken West EG – and the bank that does it picks the rate. There is rarely a separate charge for that conversion; it is built into the rate.

Where the conversion happens has an effect on how much arrives, as rates and margins differ per bank. Transferring the amount already in EUR usually prevents an extra conversion, provided the rate you get is fair.

The EUR rate changes constantly. For regular payments, small differences in the rate make a real difference over time.

Receiving money from abroad at Raiffeisenbank Hochfranken West EG

When you are waiting for money from abroad, give the sender all details at once. Share the account holder’s name, the IBAN or account number, the BIC GENODEF1SZZ and your address, which some banks require.

The sender’s bank may also ask for the bank address of Raiffeisenbank Hochfranken West EG, in which case the Schwarzenbach Am Wald head office is the usual answer. Double-check every detail before you share them – a sender rarely spots a mistake in someone else’s details.

The amount you receive can be less than the amount sent. Fees for incoming transfers vary from bank to bank; check the price list of Raiffeisenbank Hochfranken West EG. On invoices, you can agree how the fees are split, so that nobody is left short.