Raiffeisenbank Suedliches Ostallgaeu EG SWIFT/BIC code

GENODEF1 – the SWIFT/BIC code of Raiffeisenbank Suedliches Ostallgaeu EG

The short code GENODEF1 and the 11-character code GENODEF1RHP refer to one and the same institution: Raiffeisenbank Suedliches Ostallgaeu EG. A SWIFT code shows the banks handling a payment exactly which bank is meant to get the money. You will need it mostly when dealing with transfers between countries and payments in foreign currencies.

On this page you can read how the code is put together, when it matters and which other details a transfer to or from Raiffeisenbank Suedliches Ostallgaeu EG requires. The BIC identifies a bank or branch, never a specific account, which is why you always need the account number too.

Raiffeisenbank Suedliches Ostallgaeu EG: head office code versus branch codes

With 2 codes, Raiffeisenbank Suedliches Ostallgaeu EG is one of the banks that use separate codes for branches and departments. The main code remains GENODEF1RHP.

For most incoming transfers, the head office code GENODEF1RHP is what you need. Branch codes are only needed if the account holder specifically mentions it.

Unsure which code applies? Check with the recipient. Codes for branches are more likely to change than GENODEF1RHP.

How to check GENODEF1 before you pay

The most reliable place for the right code is a document from the bank itself like a bank statement or the account page in online banking. Compare that code with GENODEF1 on this page.

If the code is wrong, the payment might be delayed, bounce back or end up costing more, and tracing it can take weeks. Do not forget the IBAN: a mistake there can be harder to undo than a wrong BIC.

An automatic check in your banking app only confirms that the code is valid – not that it belongs to the person you mean to pay. Where available, a name check before sending gives an extra layer of safety. A small test payment can be worth it for large sums, even if it costs an extra fee.

A note on our data

The directory on GoldexPay draws on public sources and is updated regularly. It is possible that a code here is no longer current after a merger or reorganisation. The number of codes we show are based on what is in our directory, not official figures from Raiffeisenbank Suedliches Ostallgaeu EG.

For a payment that matters, check the BIC with Raiffeisenbank Suedliches Ostallgaeu EG or the recipient. GoldexPay is a comparison service for money transfers and not affiliated with Raiffeisenbank Suedliches Ostallgaeu EG. If you notice something that is out of date, we appreciate a message.

Paying into Raiffeisenbank Suedliches Ostallgaeu EG in EUR

The currency of Germany is the Euro (EUR). A payment in a foreign currency will be exchanged into EUR before it reaches the account, and whoever converts it chooses the rate. Every conversion eats into something – usually through the rate rather than a fee.

Where the conversion happens affects how much arrives, since every bank sets its own rate. Check how much EUR the recipient gets with different providers.

Rates for EUR change all the time – some services let you fix a rate in advance. With bigger transfers, even seemingly small gap in the rate adds up quickly.

Do you need GENODEF1 for a SEPA transfer?

Since Germany is part of SEPA, a euro payment into Raiffeisenbank Suedliches Ostallgaeu EG from within the SEPA area usually only needs the IBAN. Most banking apps no longer ask for the BIC for these payments.

The BIC does matter for payments in other currencies and when the money comes from outside SEPA. Some forms still ask for the BIC; in that case, fill in GENODEF1 or GENODEF1RHP.

Instant payments in euros are increasingly available within SEPA – whether Raiffeisenbank Suedliches Ostallgaeu EG offers them for your account is worth checking. Fees for SEPA transfers are generally low.

What the XXX in GENODEF1RHP means

The structure of a BIC never changes: four characters for the institution, two for the country and two for the location. Together, those parts make up GENODEF1.

XXX at the end of GENODEF1RHP is not a missing value or an error: it indicates the head office of Raiffeisenbank Suedliches Ostallgaeu EG. Some forms insist on 11 characters, and then you can add XXX after GENODEF1.

Enter the code as one block, in upper case and without separators, exactly as shown here. Look out for the letter O and the digit 0 and I versus 1; they are easy to mix up.

Receiving money from abroad at Raiffeisenbank Suedliches Ostallgaeu EG

For an international payment at Raiffeisenbank Suedliches Ostallgaeu EG, the person paying you needs more than the SWIFT code. That means: your name as registered with Raiffeisenbank Suedliches Ostallgaeu EG, your account number or IBAN, the SWIFT/BIC code GENODEF1RHP and, often, your address.

You can include Raiffeisenbank Suedliches Ostallgaeu EG and Seeg as well, since some forms ask for it. Check every detail before you share them, because the sender’s bank usually copies them as is.

An incoming payment will not always land in full. Charges on incoming payments differ per bank – the price list of Raiffeisenbank Suedliches Ostallgaeu EG tells you what applies. For business payments, it is common to state who bears the costs.

Changed bank details? Be careful

Stay wary if a contact unexpectedly wants you to send money to a different account or a bank in another country. The fact that GENODEF1 exists does not mean that the account is legitimate.

Always verify changed bank details through a phone call. Watch out for urgent requests, odd spelling or an email address that differs by one letter. Acted too fast? Call the bank you paid from straight away and have them start a recall and report the fraud.

Fraud can also work the other way: someone sends more than agreed and asks you to return the difference. A payment confirmation from the sender proves nothing – check your own account.

Sending money abroad from Raiffeisenbank Suedliches Ostallgaeu EG

An international bank payment can cost rather more than the listed fee. On top of a fixed fee, correspondent or intermediary banks may deduct a fee, and if the money changes currency the bank usually applies a rate that is less favourable than the actual market rate.

That exchange rate margin tends to be the biggest item because it is hidden in the rate. A simple test: put the bank’s rate next to the mid-market rate for the same moment and work out the difference on your amount.

Money transfer services often use a rate near the mid-market rate. Before your next transfer, it is worth to compare the total cost on GoldexPay rather than accepting the bank’s rate by default. You can always use your account at Raiffeisenbank Suedliches Ostallgaeu EG, while a cheaper service handles the conversion.

Transfer times and tracking a payment to Raiffeisenbank Suedliches Ostallgaeu EG

How fast a transfer arrives at Raiffeisenbank Suedliches Ostallgaeu 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. Payments made after the cut-off time or on weekends and holidays often start a business day later. Extra checks by one of the banks may also add a delay.

Many banks are connected to SWIFT gpi for faster and traceable payments. Each gpi transfer gets a unique reference, the UETR. Money transfer services often provide tracking in their app showing where the payment is.

A delayed transfer has to be investigated by the sending bank, using the payment confirmation. On the receiving end, it helps to look at your statements for a partial amount.