Raiffeisenbank Unteres Zusamtal EG SWIFT/BIC code

GENODEF1 – the SWIFT/BIC code of Raiffeisenbank Unteres Zusamtal EG

Whether a recipient gives you GENODEF1 or GENODEF1BWI, it is the identical identifier for Raiffeisenbank Unteres Zusamtal EG in Germany. A BIC has a single purpose: it ensures that an international payment ends up at the right bank. In practice you usually come across the code on international invoices, in payment forms and in the bank details that Raiffeisenbank Unteres Zusamtal EG provides.

Further down you will find the practical side: money coming in from abroad, paying someone in another country and how to check a SWIFT code before you hit send. A SWIFT code identifies a bank or branch, not a specific account, which is why you always need the account number too.

Is GENODEF1 still correct? How to check

Have the recipient send you the account details straight from their online banking. Compare it against GENODEF1 on this page.

If the code is wrong, the transfer may get stuck, bounce back or end up costing more – sometimes after weeks of searching. Remember the IBAN: a mistake there is more difficult to undo than a wrong BIC.

A validity check in your banking app merely tells you that the code exists. Some banks now compare the name with the account – do not ignore a mismatch warning. For a first payment, some people start with a small amount first before sending the rest.

A note on our data

We collect bank codes using public sources and update them regularly. Banks reorganise, change names and change codes – a directory can be a step behind. The figures on this page reflect what is in our directory, not official figures from Raiffeisenbank Unteres Zusamtal EG.

Treat the information here as a handy check. GoldexPay is not affiliated with Raiffeisenbank Unteres Zusamtal EG. Spotted an error? Tell us through the contact page and we will look into it.

International transfers from Raiffeisenbank Unteres Zusamtal EG: the real cost

A bank transfer abroad costs rather more than the listed fee. You pay the fee for the transfer itself, sometimes fees charged by intermediary banks along the way and, above all, the exchange rate markup.

The real cost is often in the rate, rather than in the fee: many banks convert using an exchange rate with a margin built in. An easy check: set the rate you get against the mid-market rate for the same moment and work out the difference on your amount.

For many routes, a transfer service turns out to be cheaper than a bank – mostly thanks to the rate. On GoldexPay we compare what recipients receive with different services, so you can pick the cheapest route. You can always keep your account at Raiffeisenbank Unteres Zusamtal EG, while a cheaper service handles the conversion.

SEPA payments and the Raiffeisenbank Unteres Zusamtal EG BIC

Because Germany is in SEPA, a euro transfer to Raiffeisenbank Unteres Zusamtal EG from another SEPA country normally only needs an IBAN. Most banking apps do not require the BIC for these payments.

The BIC still matter for payments in other currencies and when the money comes from outside SEPA. A few banks and apps also show a field for the BIC out of habit; in that case, enter GENODEF1.

SEPA transfers normally land within one business day. Provided no currency is converted, the transfer is cheap; costs rise once a conversion is involved.

Raiffeisenbank Unteres Zusamtal EG: head office code versus branch codes

Raiffeisenbank Unteres Zusamtal EG has 2 separate SWIFT/BIC codes across 2 locations. Only one is the head office code, GENODEF1BWI; the rest identify branches, and sometimes specific services.

Unless the recipient tells you otherwise, use GENODEF1BWI. When you receive a branch code, use it as it is instead of replacing it with the head office code.

Unsure which code applies? Ask the recipient, or look at a recent statement from Raiffeisenbank Unteres Zusamtal EG. Branch codes are more prone to be retired than GENODEF1BWI when a bank merges or closes offices.

Getting paid from abroad into a Raiffeisenbank Unteres Zusamtal EG account

When you expect a payment from another country, send the payer everything they need in one go. Share the account holder’s name, your account number or IBAN, the BIC GENODEF1BWI and your address.

It helps to add the bank name and Buttenwiesen too, since some forms ask for it. Double-check every detail before you send them, because the sender’s bank usually copies them as is.

Money from abroad does not always land in full. Correspondent banks can take a fee, and if the money is converted, a markup on the rate applies. On invoices, you can state who bears the costs, so that nobody is left short.

Why Raiffeisenbank Unteres Zusamtal EG has an 8- and an 11-character code

A SWIFT code is made up of fixed blocks: characters one to four identify the bank, the next two give the country and the two after that indicate the location. For Raiffeisenbank Unteres Zusamtal EG, that core is GENODEF1.

XXX at the end of GENODEF1BWI does not stand for a placeholder or a mistake: it indicates the main office of Raiffeisenbank Unteres Zusamtal EG. Some forms ask for 11 characters, and then you simply enter XXX behind GENODEF1.

In practice the code is written in capitals. Pasting the code beats typing it by hand, because one wrong letter changes the bank.

Protect yourself against fake payment requests

One of the most common tricks works like this: you receive a message saying that a company now has a new bank account. The fact that GENODEF1 exists is no guarantee that the account is legitimate; criminals use the codes of real banks too.

Verify changed payment details through a different channel, such as a phone number you already know. Watch out for time pressure, odd spelling or a sender address that is slightly off. When money has already gone to the wrong account, contact your bank immediately.

Fraud can also work the other way. Someone sends more than agreed and wants you to refund the difference to a new account. A screenshot of a transfer proves nothing – check your own account.

Paying into Raiffeisenbank Unteres Zusamtal EG in EUR

Germany pays in the Euro, with the currency code EUR. If you send another currency it gets converted at some point – by your bank, by Raiffeisenbank Unteres Zusamtal EG or by a bank in between. Every conversion costs something, even when no fee is shown.

Which bank converts the payment matters. Transferring the amount already in EUR often prevents a second conversion by Raiffeisenbank Unteres Zusamtal EG – as long as your own rate is good.

Rates for EUR move during the day – some services let you fix a rate in advance. On larger amounts, a seemingly small difference in the rate can be worth more than the fee.

When will the money arrive at Raiffeisenbank Unteres Zusamtal EG?

There is no single delivery time for every transfer: many land the same day or the next while others need several business days. Payments made late in the day or just before weekends and holidays usually go out a business day later. Sometimes a bank wants to know about the purpose of a payment, which can hold things up.

Many banks use SWIFT gpi, which lets them follow a payment from bank to bank. Every payment carries a unique reference, the UETR, which your bank can use to see where the money is. Money transfer services often provide a status online showing how far the payment is.

A missing payment has to be traced from the sending side. Ask the sender for a copy of the payment confirmation.