Raiffeisenbank Sankt Augustin EG SWIFT/BIC code

What GENODED1 means for a payment to Raiffeisenbank Sankt Augustin EG

GENODED1 and GENODED1SAZ are two ways of writing the same bank identifier, and both lead to Raiffeisenbank Sankt Augustin EG in Hennef. A SWIFT code tells the sending bank exactly which bank should receive the money, much like a postcode for banks. It comes up mainly when dealing with payments that cross a border.

We wrote this page to help anyone who pays into an account at Raiffeisenbank Sankt Augustin EG and wants to get the details right. The BIC names a bank or branch, never a specific account; the IBAN or account number does that.

SEPA payments and the Raiffeisenbank Sankt Augustin EG BIC

Since Germany is part of SEPA, a euro transfer into Raiffeisenbank Sankt Augustin EG from another SEPA country usually requires just the IBAN. Many banks do not require the BIC for these payments or fill it in for you.

You will still need GENODED1SAZ when sending payments in other currencies or transfers from countries outside SEPA. A few forms also ask for the BIC out of habit; in that case, enter GENODED1 or GENODED1SAZ.

Instant payments in euros have become widely supported within SEPA – whether Raiffeisenbank Sankt Augustin EG offers them for your account is worth checking. Provided the payment stays in euros, the transfer is cheap.

What to give a sender who pays you at Raiffeisenbank Sankt Augustin EG

For a transfer from abroad at Raiffeisenbank Sankt Augustin EG, the person paying you needs not just the SWIFT code. Share your name as the bank knows it, your account number or IBAN, the BIC GENODED1SAZ and your address.

It helps to include the bank name and Hennef too, because some payment forms have separate fields for them. A typo in the IBAN can be more trouble than you might think.

An incoming payment will not always arrive in full. Correspondent banks can take a fee, and if the money is converted, an exchange rate margin applies. Make clear with the sender who pays which costs, especially for larger amounts.

Before you send: check the Raiffeisenbank Sankt Augustin EG code

The most reliable source for a SWIFT code is the recipient’s own bank details: an invoice, a bank statement or their online banking. Compare that code against GENODED1 on this page and ask if anything does not match.

A wrong SWIFT code can cause delays, a returned payment or extra fees for investigation. An error in the account number is more serious, because the money may be credited to someone else; check it just as carefully.

Most online banking apps check the structure of IBANs. Some banks now check the payee name against the account before you confirm – do not ignore a mismatch warning. For a first payment, some people start with a small amount first before sending the rest.

About this information

The codes here are taken from public sources. Even so, banks merge, rename themselves or retire codes. The number of codes we show are based on our own data and not on information from Raiffeisenbank Sankt Augustin EG itself.

Use this page as a starting point, not as the last word. GoldexPay is an independent comparison site for money transfers and not part of Raiffeisenbank Sankt Augustin EG. Should you notice a mistake, we welcome a message.

What the XXX in GENODED1SAZ means

The structure of every SWIFT code never changes: four characters for the institution, a two-letter country code and a two-character location code. Combined, these eight characters make up GENODED1, the code most people search for.

XXX at the end of GENODED1SAZ is not a missing value or an error: it indicates the main office of Raiffeisenbank Sankt Augustin EG. Certain payment forms ask for 11 characters, in which case you can add XXX after GENODED1.

In practice the code is written in capitals, without spaces or dashes. A wrong letter can send the money to another bank, so check it twice.

International transfers from Raiffeisenbank Sankt Augustin EG: the real cost

An international bank payment costs more than the fee suggests. There is the fee for the transfer itself, possibly fees charged by intermediary banks in between and, above all, the margin on the exchange rate if the currency changes.

Banks rarely show their exchange rate markup as a cost. An easy check: put the rate you get against the mid-market rate for the same moment and work out the difference on your amount.

Specialist money transfer services often use a rate near the mid-market rate and lower fees. Before your next transfer, it is worth to compare the total cost via GoldexPay. You can still use your account at Raiffeisenbank Sankt Augustin EG as the source of the money, while a cheaper service handles the conversion.

Scams that use SWIFT codes

Be wary when someone suddenly wants you to pay into a different account. That GENODED1 is a real code does not mean that a request mentioning it is genuine.

Check changed 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. Watch out for urgent requests, unusual wording or a sender address that is slightly off. If a payment has already gone to the wrong account, call your bank right away: the sooner they act, the better the chance of a recall.

People receiving money can be targeted as well: a classic trick is a buyer who pays too much and then sends a request to refund the difference. Do not act before the money has really arrived.

Paying into Raiffeisenbank Sankt Augustin EG in EUR

The local currency in Germany is the Euro (EUR). When you pay money in a different currency, the amount has to be converted somewhere along the way – by your bank, by Raiffeisenbank Sankt Augustin EG or by a bank in between. Every conversion costs the amount, even when no fee is shown.

Who does the conversion has an effect on the final amount, since every bank sets its own rate. Sending the money already in EUR usually avoids a second conversion at the receiving end – as long as your own rate is good.

Rates for EUR move during the day. With bigger transfers, even small difference in the rate adds up quickly.

Choosing between the 2 SWIFT codes of Raiffeisenbank Sankt Augustin EG

Having 2 codes, Raiffeisenbank Sankt Augustin EG belongs to the banks that register separate codes for parts of the organisation and departments. The main code remains GENODED1SAZ.

If nobody asks you for a branch code, use GENODED1SAZ or its short form GENODED1. A branch code only makes sense when the recipient’s bank explicitly mentions it, which is more common for business accounts and specialised services.

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

When will the money arrive at Raiffeisenbank Sankt Augustin EG?

There is no fixed delivery time for every transfer: some arrive within a day. Bank holidays in the sending or receiving country add extra days to the journey. Compliance checks by one of the banks may also cause a delay.

If the money seems late, contact the sending bank for the status or the UETR; with that reference banks can see where the payment is. Save 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 contact the bank that sent it, not the receiving bank. Ask the sender for the payment receipt including the reference – it helps your own bank look for the money.