Raiffeisenbank Im Stiftland EG SWIFT/BIC code

GENODEF1 – the SWIFT/BIC code of Raiffeisenbank Im Stiftland EG

The short code GENODEF1 and the full code GENODEF1WSY refer to the same bank: Raiffeisenbank Im Stiftland EG, with its head office in Mitterteich. Every bank on the SWIFT network uses these codes to route payments between countries to the correct institution. You will need it mainly when dealing with transfers between countries.

Further down you will find the practical side: receiving money at Raiffeisenbank Im Stiftland EG, paying someone in another country and how to check the code before you hit send. A SWIFT code names a bank or branch, not a specific account.

Euro transfers to Raiffeisenbank Im Stiftland EG: is a BIC needed?

Inside SEPA, euro transfers to Raiffeisenbank Im Stiftland EG follow common rules. A field for the BIC is often optional in that case.

You will still need GENODEF1WSY for non-euro payments or money from outside the SEPA area. Some forms also show a field for the BIC; if so, fill in GENODEF1.

Instant payments in euros have become increasingly supported across SEPA – whether Raiffeisenbank Im Stiftland EG offers them for your account is worth checking. Charges on SEPA payments tend to be low as long as everything stays in euros.

Watch out for payment fraud

Scammers regularly send fake invoices with new bank details. The fact that GENODEF1 exists is no guarantee that a request mentioning it is legitimate; criminals use the codes of real banks too.

Before paying, confirm changed bank details by phone. Urgency and requests to keep it quiet are warning signs. If money was sent to a fraudster, contact your bank immediately – speed improves the chance of getting it back.

Recipients are targeted too: a classic trick is a buyer who pays too much followed by 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 Im Stiftland EG?

How fast a payment reaches Raiffeisenbank Im Stiftland EG is determined by a few things: the currency, the number of banks in between, daily processing deadlines and time zones. Transfers sent after the cut-off time or on a weekend or public holiday often start a business day later. Sometimes a bank wants to know what the payment is for.

Many banks use SWIFT gpi for faster and traceable payments. Every gpi transfer gets a unique reference, the UETR. Save the payment confirmation until the recipient confirms.

The bank that sent the money is able to start an official trace or a recall. As a recipient, it helps to look at your statements for a slightly lower amount.

A note on our data

The details on this page come from publicly available data that we update regularly. It is possible that a code here is out of date. Figures such as the number of codes come from our directory.

For a payment of any size, confirm the BIC with the recipient’s bank or with the recipient. GoldexPay is independent of Raiffeisenbank Im Stiftland EG; we are a comparison site for money transfers. Should you notice something that is out of date, we appreciate a short note via the contact page.

International transfers from Raiffeisenbank Im Stiftland EG: the real cost

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 currencies are converted the bank often uses a rate that is less favourable than the real market rate.

The markup on the rate tends to be the biggest cost. A simple test: set the rate you get next to the mid-market rate for the same moment and work out the difference on your amount.

For many currency pairs, a specialist provider turns out to be less expensive than a traditional bank transfer. GoldexPay compares the amount that arrives with different providers, which makes the cheapest option easy to spot. Choosing a specialist does not require leaving Raiffeisenbank Im Stiftland EG – you pay the provider from your own account.

How to check GENODEF1 before you pay

The best place to find the right code is a document from the bank itself. Compare it against GENODEF1 on this page; if they differ, ask before you pay.

Errors in the BIC are costly rather than disastrous – usually the money comes back, minus fees and time lost. An error in the IBAN or account number can be a bigger problem, because the money may be credited to someone else; check it just as carefully.

Most online banking apps validate the structure of an IBAN – that confirms the format, not the owner. If your bank offers it, a payee name check on the recipient gives extra certainty. For a first payment, many people start with a small test amount.

Euro (EUR) and conversion costs

Germany pays in the Euro. A payment in a foreign currency is converted into EUR – and the bank that does it picks the rate. There is rarely a separate charge for that conversion – the cost sits in the rate.

Where the conversion happens has an effect on how much arrives, since every bank sets its own rate. Transferring the amount directly in EUR usually avoids an extra conversion at the receiving end, provided the rate you get is fair.

Rates for EUR move during the day, and some providers let you lock in a rate. On larger amounts, even small difference in the rate can be worth more than the fee.

What to give a sender who pays you at Raiffeisenbank Im Stiftland EG

A sender in another country needs a few details about your account, and missing ones are a common cause of delays. Share the account holder’s name, the IBAN or account number, the BIC GENODEF1WSY and your address, which some banks require.

You can include Raiffeisenbank Im Stiftland EG and its city as well, because some payment forms have separate fields for them. Double-check the details before you share them – a sender rarely spots a mistake in someone else’s details.

The amount you receive is often less than the amount sent. Intermediary banks may deduct a fee, Raiffeisenbank Im Stiftland EG may charge for incoming payments, and if the currency changes, an exchange rate margin comes on top. On invoices, you can state how the fees are split.

Why Raiffeisenbank Im Stiftland EG has an 8- and an 11-character code

The structure of a BIC is always the same: a bank code of four letters, a two-letter country code and a two-character location code, plus an optional branch code. In this case, that core is GENODEF1.

The long version adds a three-character extension for a branch or department. If the last three are XXX, the code points to the head office, so GENODEF1WSY and GENODEF1 are interchangeable.

In practice the code is written in capitals. Look out for O versus 0 or I versus 1, a common source of typos.

Head office or branch code at Raiffeisenbank Im Stiftland EG?

With 2 codes in 2 locations, Raiffeisenbank Im Stiftland EG is one of the banks that register separate codes for parts of the organisation and departments. The main code is GENODEF1WSY.

Unless the recipient tells you otherwise, go with GENODEF1WSY or its short form GENODEF1. A branch code only makes sense if the recipient’s bank explicitly asks for it, which is more common for corporate accounts and specialised services.

The best way is to take the code directly from the account holder’s invoice. Codes for branches are more prone to be retired than GENODEF1WSY.