Raiffeisenbank Rain Am Lech EG SWIFT/BIC code

Raiffeisenbank Rain Am Lech EG SWIFT code: GENODEF1

The short code GENODEF1 and the 11-character code GENODEF1HZM identify one and the same institution: Raiffeisenbank Rain Am Lech EG in Holzheim, Germany. The code does one job: it makes sure that money from abroad ends up at the right bank. In daily life you mostly come across the code on invoices from abroad, in payment forms and on the account details of Raiffeisenbank Rain Am Lech EG customers.

On this page you can read what the code means, when it matters and which other details you need for a transfer to or from Raiffeisenbank Rain Am Lech EG. Remember that the SWIFT code only identifies the bank, not the person: the IBAN or account number takes care of that.

International transfers from Raiffeisenbank Rain Am Lech EG: the real cost

An international bank payment costs more than the listed fee. Besides the transfer fee, banks in between can take a cut, and if the money changes currency the bank usually applies a rate below the real market rate.

The markup on the rate tends to be the biggest item even though it is not listed as a fee. Check the rate you are offered with the mid-market rate; the gap is what conversion costs you.

For many routes, a transfer service turns out to be less expensive than a traditional bank transfer, mainly because of the exchange rate. GoldexPay compares what recipients receive with different services. Choosing a specialist does not mean leaving Raiffeisenbank Rain Am Lech EG – you pay the provider from your own account.

Before you send: check the Raiffeisenbank Rain Am Lech EG code

The safest source for a SWIFT code is the bank details provided by the recipient. If the code you have does not match GENODEF1 or GENODEF1HZM, stop and ask – contact the recipient or Raiffeisenbank Rain Am Lech EG.

An incorrect BIC may lead to a delay, a payment being sent back or additional charges. Remember the account number: an error there is harder to correct than a wrong code.

Most online banking apps check the structure of an IBAN. Some banks now check the payee name with the account; take any warning seriously. Sending a small amount first can be worth it for large sums.

Paying Raiffeisenbank Rain Am Lech EG in euros within SEPA

Inside SEPA, euro payments to an account in Germany use common rules. A field for the BIC is often optional for those payments.

The BIC still matter when the currency is not euros and when the money comes from outside SEPA. If a payment form has a field for the BIC anyway, entering GENODEF1 does no harm.

Instant payments in euros have become widely available within SEPA. Provided the payment stays in euros, the transfer is inexpensive; costs rise once a conversion is involved.

How long does an international transfer to Raiffeisenbank Rain Am Lech EG take?

There is no single delivery time for every transfer: some land the same day or the next. Bank holidays in the sending or receiving country add extra days. Extra checks by one of the banks may also cause some delay.

When a payment takes longer than expected, contact the sending bank about the status or the UETR; with that reference banks can see where the payment is. Keep your transfer receipt until the money has arrived – you will need it for any trace request.

If the money does not arrive within the expected time, the person who paid should start with the bank that sent it, not the receiving bank. Request from the sender a copy of the payment confirmation with the date and reference.

Incoming international payments to Raiffeisenbank Rain Am Lech EG

When you expect a payment from another country, send the payer everything they need in one go. The basics are: the account holder’s name, IBAN or account number, GENODEF1HZM or GENODEF1 and often your home address.

It helps to add Raiffeisenbank Rain Am Lech EG and Holzheim too. Double-check the details before you share them – a sender rarely spots a mistake in someone else’s details.

Do not be surprised if the amount credited is smaller than what the sender paid. Intermediary banks may deduct a fee and your own bank may charge for processing, and when currencies differ, an exchange rate margin comes on top. On invoices, it is common to state who bears the costs to avoid a shortfall.

Changed bank details? Be careful

Stay alert when a contact unexpectedly wants you to send money to another account. The fact that GENODEF1 exists does not mean that the account is legitimate; criminals use the codes of real banks too.

Verify new payment details via a different channel, such as a phone number you already know, never via the email that asked for the change. Watch out for time pressure, odd spelling or a sender address that is slightly off. Already paid? Call the bank you paid from without delay and ask them to start a recall and report the fraud.

Recipients are targeted too: one known trick is a buyer who pays too much and then sends a request to send back the difference abroad. A screenshot of a transfer proves nothing – check your own account.

Which of the 2 codes of Raiffeisenbank Rain Am Lech EG do you need?

Raiffeisenbank Rain Am Lech EG uses 2 separate SWIFT/BIC codes. Only one is the head office code, GENODEF1HZM; the others belong to branches, and sometimes internal departments.

For most incoming transfers, the head office code GENODEF1HZM is the right choice. A branch code only makes sense when the account holder explicitly mentions it, which is more common for corporate accounts and trade services.

If you are not sure, ask the person you are paying for the exact BIC in their bank details. Branch codes can change when banks reorganise, so a code from an old document is not always valid.

Sending EUR to Raiffeisenbank Rain Am Lech EG

The national currency in Germany is the Euro (EUR). If you send another currency, the amount has to be converted somewhere along the way: by your bank, an intermediary or Raiffeisenbank Rain Am Lech EG itself. There is rarely a separate line for the conversion – the cost sits in the rate.

Which bank converts the money makes a difference, because each party uses its own rate. Transferring the amount directly in EUR usually prevents an extra conversion by Raiffeisenbank Rain Am Lech EG.

The EUR rate fluctuates throughout the day, so the amount you see is usually only valid for a short time. On larger amounts, even seemingly small difference in the rate can be worth more than the fee.

A note on our data

The details on this page come from publicly available data that we update regularly. It can happen that a code on this page is out of date, for example after a merger. Figures such as the number of codes are from our own dataset and are not confirmed by Raiffeisenbank Rain Am Lech EG.

Treat our directory on this page as a handy check, and let the details from the recipient or Raiffeisenbank Rain Am Lech EG have the final say. GoldexPay is not affiliated with Raiffeisenbank Rain Am Lech EG; we are a comparison site for money transfers. Spotted an error? Let us know via our contact form and we will look into it.

GENODEF1 or GENODEF1HZM – which one to use?

Each SWIFT/BIC code has an 8-character core: four letters for the bank, two letters for the country and a two-character location code. Together, these eight characters form GENODEF1.

Most payment forms work with either length. If yours asks for eleven characters, use GENODEF1HZM; if it wants eight, use GENODEF1.

Do not add spaces when you enter GENODEF1; the code is always written in one block. Watch for the letter O and the digit 0 and I versus 1, a common source of typos.