Raiffeisenbank Oberland EG SWIFT/BIC code

GENODEF1 – the SWIFT/BIC code of Raiffeisenbank Oberland EG

If an invoice shows GENODEF1 or GENODEF1MGY, it is the same address for Raiffeisenbank Oberland EG in Germany. Every bank on the SWIFT network uses these codes to route payments between countries to the correct institution. You will need it mainly for payments that cross a border.

We wrote this page to help people who receives money at an account at Raiffeisenbank Oberland EG and wants to get the details right. The SWIFT code alone does not identify an individual account holder; that is what the account number or IBAN is for.

Protect yourself against fake payment requests

One of the most common tricks works like this: you receive a request claiming that a supplier has new bank details. A real SWIFT code tells you nothing about who owns the account: scammers use real codes of real banks.

Check new payment details through a different channel like a call to a number from an earlier contract, never via the email that asked for the change. Urgency and secrecy tend to be red flags; a genuine business can wait for you to check. Already paid? Contact your bank straight away and have them try to recall the payment and report the fraud.

Recipients can be targeted as well: a classic trick is a buyer who pays too much and then sends a request to refund the difference to another account. Wait until the money is actually in your account – ask Raiffeisenbank Oberland EG if something looks wrong.

Euro transfers to Raiffeisenbank Oberland EG: is a BIC needed?

Because Germany is in the SEPA zone, a euro payment into Raiffeisenbank Oberland EG from within the SEPA area usually only needs an IBAN. Many banks do not require the BIC for these payments.

You still need GENODEF1MGY when sending non-euro payments or money from outside the SEPA area. If your banking app asks for the BIC regardless, entering GENODEF1 does no harm.

SEPA transfers normally land within one business day. Fees for SEPA payments tend to be low.

How up to date is this code?

We gather bank codes using public sources and check them regularly. Even so, banks merge, rename themselves or retire codes, so information can be out of date. Figures such as the number of codes come from our own dataset and are not confirmed by Raiffeisenbank Oberland EG.

Treat the information on this page as a helpful check, and let the details from the recipient or Raiffeisenbank Oberland EG have the final say. We are an independent comparison site and not affiliated with Raiffeisenbank Oberland EG. Should you notice something that is out of date, we welcome a short note.

Sending money abroad from Raiffeisenbank Oberland EG

An international bank payment costs more than the listed fee. There is the fee for the transfer itself, sometimes charges from correspondent banks along the way and, above all, the exchange rate markup.

The markup on the rate tends to be the largest item, and it is easy to miss. Check the rate you are offered with the mid-market rate, the midpoint between buy and sell rates you see on financial sites. The difference is your real conversion cost.

For a lot of currency pairs, a specialist provider is less expensive than a traditional bank transfer, mainly because of the exchange rate. GoldexPay compares transfer providers next to each other so you can see what actually arrives for the same amount sent. You can still keep your account at Raiffeisenbank Oberland EG; only the conversion and sending happen elsewhere.

How long does an international transfer to Raiffeisenbank Oberland EG take?

There is no fixed answer for international payments: many land within a day. Payments made late in the day or on weekends and holidays often go out a business day later. Compliance checks by one of the banks may also add a delay.

If the money seems late, contact the sending bank for the tracking status or the UETR; with that reference banks can see where the payment is. Save the payment confirmation until the recipient confirms.

The bank that sent the money can start an official trace – the recipient’s bank often cannot see a payment that has not arrived. Ask the sender for the payment receipt with the date and reference; that often settles the question quickly.

What the XXX in GENODEF1MGY means

Each SWIFT/BIC code has an 8-character core: a four-letter bank code, a two-letter country code and a two-character location code. Combined, those parts make up GENODEF1, the code most people search for.

XXX at the end of GENODEF1MGY is not a missing value or an error: it indicates the main office of Raiffeisenbank Oberland EG. Some banking apps ask for 11 characters, and then you can add XXX behind GENODEF1.

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

The Euro and what conversion costs you

Germany uses the Euro, code EUR. Money sent in a different currency is exchanged into EUR before it reaches the account. There is rarely a separate line for that conversion.

Who converts the payment matters, because each party uses its own rate. Often you pay less to send EUR directly through a transfer service with a good rate.

Rates for EUR move during the day, and some providers let you lock in a rate. For recurring payments, a slightly better rate add up over a year.

Verifying the SWIFT code of Raiffeisenbank Oberland EG

Ask the recipient to send you their account details straight from their online banking. Compare that code against GENODEF1 on this page and ask if anything does not match.

Mistakes in the SWIFT code tend to be costly more than disastrous – usually the money comes back, minus fees and time lost. A mistake in the IBAN or account number can be more serious because it can reach the wrong person; check it just as carefully.

Many banking apps check the format of an IBAN and sometimes look up the BIC automatically. If your bank offers it, a payee name check before sending gives an extra layer of safety. A small test payment is worth it for large sums despite the extra fee.

Which of the 2 codes of Raiffeisenbank Oberland EG do you need?

We have 2 SWIFT/BIC codes for Raiffeisenbank Oberland EG in 2 cities. Besides the head office code GENODEF1MGY, there are codes for branches, departments or specific services.

Unless the recipient tells you otherwise, go with GENODEF1MGY. If you have been given a branch code, use it as it is instead of replacing it for the head office code.

When in doubt, check with the recipient for the exact BIC in their bank details. Codes are sometimes changed or retired when banks reorganise, so a code from an old document is not always valid.

Receiving money from abroad at Raiffeisenbank Oberland EG

If you are waiting for a payment from another country, give the sender a complete set of details. What they need is: your name, account number or IBAN, GENODEF1MGY or GENODEF1 and often your postal address.

Their bank might also ask for the bank address of Raiffeisenbank Oberland EG, in which case the Helmbrechts head office is the usual answer. Check the details before you send them.

Do not be surprised if the amount credited is smaller than the amount on the sender’s receipt. Intermediary banks may deduct a fee and your own bank may charge for processing, and when currencies differ, a markup on the rate comes on top. On invoices, you can agree who bears the costs to avoid a shortfall.