Raiffeisenbank Oberferrieden-Burgthann EG SWIFT/BIC code

What GENODEF1 means for a payment to Raiffeisenbank Oberferrieden-Burgthann EG

GENODEF1 and GENODEF1BTO are two spellings of the same SWIFT/BIC code, and both point to Raiffeisenbank Oberferrieden-Burgthann EG in Burgthann. A SWIFT code tells the banks handling a payment which institution is meant to get the money. In practice you usually see the code on invoices from abroad, in your banking app and in the bank details that Raiffeisenbank Oberferrieden-Burgthann EG provides.

On this page we explain what the code means, when you need it and what else a transfer to or from Raiffeisenbank Oberferrieden-Burgthann EG requires. The BIC identifies an institution, not a single account, which is why you always need the account number too.

Verifying the SWIFT code of Raiffeisenbank Oberferrieden-Burgthann EG

The safest source for a SWIFT code is the recipient’s own bank details – an invoice, a statement or a screenshot from online banking. When the code you were given differs from GENODEF1 or GENODEF1BTO, stop and ask – contact the recipient or Raiffeisenbank Oberferrieden-Burgthann EG.

A wrong SWIFT code can cause a delay, a returned payment or additional charges. Do not forget the account number: an error there can be harder to correct than a wrong BIC.

A format check by your bank merely confirms that the code exists. Where available, a payee name check on the recipient adds extra certainty. For a first payment, some people send a small amount first before sending the rest.

Raiffeisenbank Oberferrieden-Burgthann EG: head office code versus branch codes

Raiffeisenbank Oberferrieden-Burgthann EG uses 2 separate SWIFT/BIC codes. Only one is the head office code, GENODEF1BTO; the rest belong to branches or departments.

Unless the recipient tells you otherwise, go with GENODEF1BTO. When you receive a branch code, use it as it is rather than replacing it for the head office code.

The best way is to copy the code directly from the account holder’s invoice. Branch codes can change over time.

What to give a sender who pays you at Raiffeisenbank Oberferrieden-Burgthann EG

For a transfer from abroad into your account at Raiffeisenbank Oberferrieden-Burgthann EG, the person paying you needs more than the SWIFT code. In practice that means: your full name exactly as it appears on the account, your IBAN or account number, the SWIFT/BIC code GENODEF1BTO (or GENODEF1) and sometimes your postal address.

It helps to add Raiffeisenbank Oberferrieden-Burgthann EG and its city as well, since some forms ask for it. Check the details before you send them.

What lands in your account is often lower than what was sent. Correspondent banks can take a fee and your own bank may charge for processing, and when currencies differ, a markup on the rate applies. Agree with the sender who covers the fees before the money is sent.

GENODEF1 or GENODEF1BTO – which one to use?

Each SWIFT/BIC code has an 8-character core: four letters for the bank, two letters for the country and two characters for the location. In this case, that core is GENODEF1.

Many banks and apps accept either length. If a form requires eleven characters, use GENODEF1BTO, otherwise GENODEF1 is fine.

As a rule the code is typed in capitals, without spaces or dashes. Look out for O versus 0 or the letter I and the digit 1; they are easy to mix up.

Sending EUR to Raiffeisenbank Oberferrieden-Burgthann EG

Germany uses the Euro (EUR). Money sent in a different currency will be exchanged into EUR on its way to Raiffeisenbank Oberferrieden-Burgthann EG. Each conversion costs the amount, even when no fee is shown.

Who does the conversion affects how much arrives, since every bank sets its own rate. Transferring the amount directly in EUR often avoids an extra conversion, provided the rate you get is fair.

The rate for EUR fluctuates constantly. On larger amounts, even small difference in the rate adds up quickly.

Do you need GENODEF1 for a SEPA transfer?

Because Germany is part of SEPA, a euro payment into Raiffeisenbank Oberferrieden-Burgthann EG from another SEPA country normally only needs an IBAN. Most banking apps do not require the BIC in that case or fill it in for you.

Outside the euro and from non-SEPA countries, GENODEF1BTO is still part of the payment details. A few forms still show a field for the BIC out of habit; if so, fill in GENODEF1.

SEPA transfers usually arrive by the next business day; instant payments are faster if both banks offer them. Provided the payment stays in euros, the transfer tends to be cheap.

Watch out for payment fraud

One of the most common tricks goes like this: you receive a request saying that a supplier now has a new bank account. The fact that GENODEF1 exists is no guarantee that the account is genuine – fraudsters use real bank codes as well.

Never rely on contact details in the same message that announces the change. Pressure or secrecy tend to be warning signs – a real supplier can wait a day. If money was sent to a fraudster, contact your bank immediately – speed improves the chance of getting it back.

People receiving money can be targeted as well: one known trick is an overpayment and then sends a request to send back the difference abroad. A payment confirmation from the sender is no proof.

How up to date is this code?

The codes here come from publicly available data. Banks merge, close branches and change codes. Figures such as the number of codes are from our own dataset and are not confirmed by Raiffeisenbank Oberferrieden-Burgthann EG.

Use this page as a starting point, not as the final word: the recipient’s bank details come first. GoldexPay is independent of Raiffeisenbank Oberferrieden-Burgthann EG; we are a comparison site for money transfers. Spotted outdated information? Tell us via our contact form so we can correct it.

Paying someone abroad from your Raiffeisenbank Oberferrieden-Burgthann EG account

If you transfer money abroad from Raiffeisenbank Oberferrieden-Burgthann EG, the fee you see is rarely all of the cost. On top of the transfer fee, correspondent or intermediary banks may take a cut, and when currencies are converted the bank often uses a rate below the actual market rate.

Many banks rarely show their exchange rate markup separately, but you pay it all the same. Check their rate with the mid-market rate, the midpoint between buy and sell rates you see on financial sites. The difference is your real conversion cost.

Specialised transfer providers frequently use a rate near the mid-market rate with clearer fees. GoldexPay compares what recipients receive with different services, which makes the cheapest option easy to spot. You can always use your account at Raiffeisenbank Oberferrieden-Burgthann EG as the source of the money; only the conversion and sending happen elsewhere.

How long does an international transfer to Raiffeisenbank Oberferrieden-Burgthann EG take?

How quickly a transfer reaches Raiffeisenbank Oberferrieden-Burgthann EG depends on a few things: which currency you send, the number of banks in between, daily processing deadlines and time zones. Weekends and public holidays in either country can add extra days. Compliance checks by one of the banks may also add a delay.

Many banks use SWIFT gpi. Every payment carries a unique transaction reference, the UETR. Keep your transfer receipt; it contains the details a bank needs to start a trace.

If a payment has not arrived after a few business days, the person who paid should start with their own bank. Request from the sender the payment receipt with the date and reference – it helps your own bank look for the money.