Raiffeisenbank Kempten-Oberallgaeu EG SWIFT/BIC code

What GENODEF1 means for a payment to Raiffeisenbank Kempten-Oberallgaeu EG

GENODEF1 and GENODEF1SFY are two spellings of the same bank identifier, and both point to Raiffeisenbank Kempten-Oberallgaeu EG in Kempten. A SWIFT code shows the banks handling a payment exactly which bank is meant to get the money, a bit like a postal address for banks. In practice you usually see it on invoices from abroad, in payment forms and in the bank details that Raiffeisenbank Kempten-Oberallgaeu EG provides.

On this page we explain what the code is put together, when it matters and what else you need for a transfer to or from Raiffeisenbank Kempten-Oberallgaeu EG. Remember that the BIC just identifies the bank, not the account: the account number or IBAN does that part.

The Euro and what conversion costs you

The currency in Germany is the Euro (EUR). If you send another currency it has to be converted somewhere along the way. Each conversion costs the amount.

Where the conversion happens affects how much arrives. Sending the amount already in EUR often avoids an extra conversion by Raiffeisenbank Kempten-Oberallgaeu EG, provided the rate you get is fair.

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

Is GENODEF1 still correct? How to check

The most reliable place for the right code is a document from the bank itself. Compare that code against GENODEF1 on this page; if they differ, ask before you pay.

Errors in the SWIFT code tend to be costly rather than fatal – usually the money comes back, minus fees and time lost. Remember the IBAN: an error there is more difficult to undo than a wrong code.

An automatic check in your banking app merely confirms that the IBAN is valid, not that it is the right account. More and more banks compare the name with the account. A small test payment is a sensible step for a large first payment despite the extra fee.

Why Raiffeisenbank Kempten-Oberallgaeu EG has an 8- and an 11-character code

Every SWIFT/BIC code starts with an 8-character core: a four-letter bank code, two letters for the country and two characters for the location. For Raiffeisenbank Kempten-Oberallgaeu EG, the 8-character core is GENODEF1.

XXX at the end of GENODEF1SFY is not a placeholder or a mistake: it indicates the head office of Raiffeisenbank Kempten-Oberallgaeu EG. Some forms insist on 11 characters, in which case you simply add XXX after GENODEF1.

Do not add spaces or dashes when you type GENODEF1. Watch for O versus 0 and I versus 1.

Receiving money from abroad at Raiffeisenbank Kempten-Oberallgaeu EG

Someone abroad who wants to pay you will ask for a few details about your account – incomplete details often cause delays. Give them the account holder’s name, the IBAN or account number, the BIC GENODEF1SFY and your address, which some banks require.

Some banks also ask for the address of Raiffeisenbank Kempten-Oberallgaeu EG in Kempten, so keep it at hand. A mistake in the IBAN can be harder to fix than it looks.

Money from abroad does not always land in full. Intermediary banks may deduct a fee, Raiffeisenbank Kempten-Oberallgaeu EG may charge for incoming payments, and if the money is converted, an exchange rate margin comes on top. For business payments, you can state how the fees are split.

Which of the 2 codes of Raiffeisenbank Kempten-Oberallgaeu EG do you need?

Our database contains 2 SWIFT/BIC codes for Raiffeisenbank Kempten-Oberallgaeu EG, spread over 2 locations. Next to the head office code GENODEF1SFY, you will find codes for branches, departments or specific services.

Usually there is no need to look up a branch: payments sent to GENODEF1SFY reach Raiffeisenbank Kempten-Oberallgaeu EG correctly. Only use a branch code when your contact gives you that exact code.

Not sure which code to use? Ask the recipient, or look at a recent statement from Raiffeisenbank Kempten-Oberallgaeu EG. Branch codes are sometimes changed or retired when banks reorganise, so do not rely on old paperwork.

Protect yourself against fake payment requests

Fraudsters often use payment requests containing changed bank details sent from what looks like a familiar address. The fact that GENODEF1 exists is no guarantee that the account is genuine – fraudsters use real bank codes as well.

Do not trust contact details from the same email that announces the new account. Urgency or secrecy tend to be warning signs – a real supplier can wait a day. When a payment was sent to a fraudster, call your bank right away.

Scams can also work the other way. Someone claims to have sent more than agreed and wants you to refund the difference to a new account. Wait until the money is actually in your account.

About this information

We collect SWIFT/BIC codes from public sources and check them regularly. Even so, banks merge, rename themselves or change codes, so information can be out of date. The number of codes we show are based on our own data and not on information from Raiffeisenbank Kempten-Oberallgaeu EG itself.

For a payment of any size, check the BIC with the recipient’s bank or the recipient. GoldexPay is a comparison site for money transfers and not part of Raiffeisenbank Kempten-Oberallgaeu EG. Found an error? Tell us via our contact form so we can correct it.

Tracking a transfer to or from Raiffeisenbank Kempten-Oberallgaeu EG

How quickly a payment arrives at Raiffeisenbank Kempten-Oberallgaeu EG depends on several factors: the currency, the number of banks in between, cut-off times and differences in time zone. Payments made after the cut-off time or just before a weekend or public holiday often go out the next business day. Sometimes a bank wants to know about the purpose of a payment, which can hold things up.

When a payment takes longer than expected, ask your bank for the tracking status or the UETR so they can trace it along the chain. Money transfer services often provide tracking online so you can see where the payment is.

If the money does not arrive within the expected time, the sender should start with their own bank rather than Raiffeisenbank Kempten-Oberallgaeu EG. Request from the sender a copy of the payment confirmation including the reference.

What a transfer from Raiffeisenbank Kempten-Oberallgaeu EG abroad really costs

What you pay for an international transfer has more than one component, and the transfer fee is only the most visible one. There is the transfer fee, possibly charges from correspondent banks along the way and, above all, the margin on the exchange rate when the money is converted.

Many banks rarely show their exchange rate markup separately – you only notice it if you compare. An easy check: put the rate you get against the mid-market rate and look at the difference.

Money transfer services frequently use a rate near the mid-market rate with clearer fees. Before your next transfer, take a minute comparing what arrives on GoldexPay instead of going straight to your bank. You can still keep your account at Raiffeisenbank Kempten-Oberallgaeu EG.

Do you need GENODEF1 for a SEPA transfer?

Germany is part of the Single Euro Payments Area (SEPA), the zone for standardised euro payments. For a standard euro transfer from another SEPA country, you normally only need the IBAN; many banks no longer ask for the BIC.

You still need GENODEF1SFY for payments in other currencies or transfers from countries outside SEPA. If a payment form has a field for the BIC anyway, adding GENODEF1 is fine.

Instant payments in euros are widely supported within SEPA. Charges on SEPA payments are generally low.