Raiffeisenbank Neustadt EG SWIFT/BIC code

GENODED1 – the SWIFT/BIC code of Raiffeisenbank Neustadt EG

GENODED1 and GENODED1ASY are two ways of writing the same SWIFT/BIC code, and both lead to Raiffeisenbank Neustadt EG in Anhausen. A SWIFT code tells every bank in the chain which institution is meant to get the money, much like a postcode for banks. It comes up mostly for transfers between countries and payments in foreign currencies.

On this page we explain how the code means, when you need it and what else you need for a transfer to or from Raiffeisenbank Neustadt EG. The SWIFT code alone does not identify an individual account holder; for that you need the account number or IBAN .

The Euro and what conversion costs you

Germany pays in the Euro, code EUR. Money sent in a different currency will be exchanged into EUR on its way to Raiffeisenbank Neustadt EG – and the bank that does it picks the rate. Every conversion costs something, even when no fee is shown.

Who converts the money makes a difference, because each party uses its own rate. Often it is cheaper to send EUR straight away through a provider that converts near the mid-market rate, so that the receiving bank does not need to convert again.

The rate for EUR fluctuates constantly and quotes are often valid only for a short time. With bigger transfers, even seemingly small gap in the rate can be worth more than the fee.

8 or 11 characters: GENODED1 versus GENODED1ASY

The structure of a BIC never changes: four characters for the institution, a two-letter country code and a two-character location code, sometimes followed by a branch code. Combined, these eight characters form GENODED1 – the version you usually see online.

The 11-character version has a three-character extension for a branch or department. When those three characters are XXX, the code points to the head office, so GENODED1ASY and GENODED1 are interchangeable.

Do not add spaces or dashes when you enter GENODED1 or GENODED1ASY. A single character can send the money to a different institution, so copy it carefully.

Receiving money from abroad at Raiffeisenbank Neustadt EG

Someone abroad who wants to pay you needs a few details from you, and missing ones are a common cause of delays. What they need is: the account holder’s name, account number or IBAN, GENODED1ASY and, for some countries, your home address.

Some banks also ask for the bank’s address in Anhausen, so keep it at hand. A mistake in your account number is more trouble than you might think; copy them from your banking app rather than typing.

What lands in your account is often less than the amount sent. Fees for incoming transfers vary per bank; check the price list of Raiffeisenbank Neustadt EG. Make clear with the sender who covers the fees, especially for larger amounts.

Head office or branch code at Raiffeisenbank Neustadt EG?

Our directory lists 2 SWIFT/BIC codes for Raiffeisenbank Neustadt EG. Next to the head office code GENODED1ASY, there are codes for regional offices and specialised units.

In most cases you do not need to pick a branch: payments addressed to GENODED1ASY reach Raiffeisenbank Neustadt EG correctly. When you receive a branch code, use it as it is rather than swapping it with the head office code.

Unsure which code to use? Ask the recipient, or look at a recent statement from Raiffeisenbank Neustadt EG. Codes for branches are more prone to change than the head office code when a bank merges or closes offices.

Watch out for payment fraud

Fraudsters often send payment requests with changed bank details sent from what looks like a familiar address. A correct SWIFT code tells you nothing about whether the request is genuine.

Verify changed bank details through a separate channel. Urgency or requests to keep it quiet are warning signs – a real supplier can wait a day. Already paid? Call your bank without delay and ask them to start a recall; also report it to the police.

People receiving money can be targeted as well: one known trick is a buyer who pays too much and then sends a request to refund the difference to another account. A screenshot of a transfer proves nothing.

Before you send: check the Raiffeisenbank Neustadt EG code

The most reliable source for the BIC is the bank details provided by the recipient: an invoice, a bank statement or their online banking. Compare it against GENODED1 here and ask if anything does not match.

A wrong SWIFT code may lead to delays, a returned payment or extra fees. An error in the IBAN or account number is more serious because it can reach the wrong person; check it just as carefully.

Many banking apps check the structure of an IBAN and sometimes look up the BIC automatically – that confirms the format, not the owner. If your bank offers it, a payee name check before sending adds extra certainty. A small test payment can be worth it for a large first payment despite the extra fee.

International transfers from Raiffeisenbank Neustadt EG: the real cost

When you transfer money to another country from Raiffeisenbank Neustadt EG, the fee you see is only part of the cost. Besides the transfer fee, banks in between can take a cut, and if currencies are converted, the bank often uses a rate that is less favourable than the real market rate.

That exchange rate margin tends to be the biggest cost because it is hidden in the rate. Compare their rate with the mid-market rate – the rate you find on financial news sites; the gap is what conversion costs you.

Money transfer services frequently offer a rate near the mid-market rate and lower fees. On GoldexPay you can compare the amount that arrives with different services, which makes the cheapest option easy to spot. You can always use your account at Raiffeisenbank Neustadt EG, while a cheaper service handles the conversion.

A note on our data

This directory is compiled from public sources. Even so, banks merge or retire codes, so information can be out of date. Counts and locations are from our directory and are not confirmed by Raiffeisenbank Neustadt EG.

Before any payment that matters, always confirm the BIC with the recipient’s bank or with the recipient. We are an independent comparison site and not part of Raiffeisenbank Neustadt EG. Should you notice something that is out of date, we appreciate a message.

When will the money arrive at Raiffeisenbank Neustadt EG?

How fast a transfer reaches Raiffeisenbank Neustadt EG depends on several factors: the currency, the number of banks in between, daily processing deadlines and time zones. Bank holidays in either country can add extra days to the journey. Extra checks on larger or unusual payments can also add some delay.

Many banks are connected to SWIFT gpi, which lets them follow a payment from bank to bank. Each gpi transfer gets a unique 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.

Only the sending bank is able to start an official trace; the receiving side usually has nothing to trace yet. As a recipient, you can check your account to see a partial amount, since fees may have been deducted.

Do you need GENODED1 for a SEPA transfer?

Since Germany is part of the SEPA zone, a euro transfer to Raiffeisenbank Neustadt EG from another SEPA country usually only needs an IBAN. Many banks do not require the BIC for these payments or fill it in for you.

For anything other than euros and from non-SEPA countries, GENODED1ASY or GENODED1 remains required. Some banks and apps also show a field for the BIC; in that case, enter GENODED1 or GENODED1ASY.

Euro payments within SEPA usually arrive within one business day, and instant transfers in seconds where both banks support them. As long as the payment stays in euros, the transfer tends to be cheap.