Raiffeisenbank Salzweg-Thyrnau EG SWIFT/BIC code

GENODEF1 – the SWIFT/BIC code of Raiffeisenbank Salzweg-Thyrnau EG

GENODEF1 and GENODEF1SZT are the short and the long form of the same SWIFT/BIC code, and both point to Raiffeisenbank Salzweg-Thyrnau EG in Salzweg. A BIC does one job: it ensures that a cross-border transfer reaches the right bank. You will need it mainly when dealing with transfers between countries or a currency.

On this page you can read what the code means, when you need it and what else a transfer to or from Raiffeisenbank Salzweg-Thyrnau EG requires. The BIC names a bank or branch, not a specific account.

Watch out for payment fraud

A common scam works like this: an email arrives with a message saying that a supplier has a new bank account. A correct SWIFT code says nothing about who owns the account – scammers simply use real codes.

Never rely on a phone number from the same email that contains the new account. Pressure or secrecy are warning signs; a genuine business can wait for you to check. If money has already gone to a fraudster, contact your bank immediately – speed improves the chance of getting it back.

Fraud also work the other way: someone claims to have sent more than agreed and wants you to refund the extra to a new account. Do not act before the money is actually in your account – ask Raiffeisenbank Salzweg-Thyrnau EG if something looks wrong.

Raiffeisenbank Salzweg-Thyrnau EG: head office code versus branch codes

Raiffeisenbank Salzweg-Thyrnau EG has 2 separate SWIFT/BIC codes. One of them is the head office code; the rest belong to branches or departments.

In most cases there is no need to look up a branch: transfers addressed to GENODEF1SZT are routed within Raiffeisenbank Salzweg-Thyrnau EG without problems. When you receive a branch code, use it as it is instead of swapping it for the head office code.

Not sure which code to use? Check with the recipient. Codes for branches are more likely to change than the head office code when a bank merges or closes offices.

Transfer times and tracking a payment to Raiffeisenbank Salzweg-Thyrnau EG

How fast a transfer arrives at Raiffeisenbank Salzweg-Thyrnau EG is determined by a few things: which currency you send, the number of banks in between, daily processing deadlines and differences in time zone. Weekends and public holidays in either country can add a day or more. Compliance checks on larger or unusual payments may also cause a delay, regardless of the details.

Many banks are connected to SWIFT gpi. Every gpi transfer gets a unique reference, the UETR that banks can use to trace it. Save your transfer receipt until the money has arrived; it contains the details a bank needs to start a trace.

A missing payment has to be investigated by the sending bank, using the payment confirmation. As a recipient, it helps to look at your account for a slightly lower amount.

The Euro and what conversion costs you

Germany uses the Euro, code EUR. When you pay money in a different currency it has to be converted at some point: by your bank, an intermediary or Raiffeisenbank Salzweg-Thyrnau EG itself. Each conversion eats into the amount.

Where the conversion happens affects the final amount. Transferring the amount already in EUR often avoids a second conversion at the receiving end – as long as your own rate is good.

Exchange rates move during the day. With bigger transfers, even seemingly small gap in the rate can be worth more than the fee.

Do you need GENODEF1 for a SEPA transfer?

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

You still need GENODEF1SZT for payments in other currencies or money from outside the SEPA area. If your banking app has a field for the BIC anyway, entering GENODEF1 is fine.

Instant euro transfers are increasingly available within SEPA; check with Raiffeisenbank Salzweg-Thyrnau EG whether it applies to your account. As long as no currency is converted, a SEPA transfer is inexpensive; costs rise once a conversion is involved.

Verifying the SWIFT code of Raiffeisenbank Salzweg-Thyrnau EG

Have the recipient send you the bank details straight from their banking app. Compare that code against GENODEF1 here and ask if anything does not match.

An incorrect BIC can cause a delay, a returned payment or additional charges. An error in the IBAN or account number can be more serious because it can reach the wrong person; check it just as carefully.

A validity check by your bank only tells you that the code exists – not that it belongs to the person you mean to pay. More and more banks check the payee name against the account. A small test payment is worth it for large sums.

Why Raiffeisenbank Salzweg-Thyrnau EG has an 8- and an 11-character code

Each SWIFT/BIC code starts with the same eight core characters: a four-letter bank code, two letters for the country and a two-character location code. For Raiffeisenbank Salzweg-Thyrnau EG, that core is GENODEF1.

XXX at the end of GENODEF1SZT does not stand for a missing value or a mistake: it indicates the head office of Raiffeisenbank Salzweg-Thyrnau EG. Certain payment forms ask for 11 characters, and then you simply enter XXX behind GENODEF1.

Enter the code in one piece, in capitals and without separators, exactly as shown here. Copying the code is safer than typing it by hand.

A note on our data

The codes here come from public sources. Institutions reorganise, close branches and retire codes. The number of codes on this page reflect what is in our directory, not official figures from Raiffeisenbank Salzweg-Thyrnau EG.

For any payment that matters, check the BIC with Raiffeisenbank Salzweg-Thyrnau EG or the recipient. GoldexPay has no connection to Raiffeisenbank Salzweg-Thyrnau EG. If you notice a mistake, we appreciate a short note.

International transfers from Raiffeisenbank Salzweg-Thyrnau EG: the real cost

When you transfer money abroad through Raiffeisenbank Salzweg-Thyrnau EG, the fee you see is rarely all of what you pay. On top of a fixed fee, correspondent or intermediary banks may take a cut, and if the money changes currency, the bank often uses a rate that is less favourable than the real market rate.

The markup on the rate is often the biggest item because it is hidden in the rate. Check their rate with the mid-market rate.

For a lot of currency pairs, a specialist provider is less expensive than a traditional bank transfer – mostly thanks to the rate. Next time you send money, take a minute to compare what arrives via GoldexPay. Using a transfer service does not require closing your account at Raiffeisenbank Salzweg-Thyrnau EG: you simply pay the service from your account.

Incoming international payments to Raiffeisenbank Salzweg-Thyrnau EG

Someone abroad who wants to pay you needs a few details about your account, and missing ones are a common cause of delays. Share the account holder’s name, your account number or IBAN, SWIFT code GENODEF1SZT and your address, which some banks require.

Their bank may request the bank address of Raiffeisenbank Salzweg-Thyrnau EG; the head office in Salzweg is usually fine. Check the details before you share them – a sender rarely spots a mistake in someone else’s details.

Money from abroad does not always arrive in full. Intermediary banks may deduct a fee, Raiffeisenbank Salzweg-Thyrnau EG may charge for incoming payments, and when currencies differ, a markup on the rate applies. On invoices, you can state who bears the costs.