Raiffeisenbank Wegscheid EG SWIFT/BIC code

Raiffeisenbank Wegscheid EG SWIFT code: RAWCDE71

The 8-character code RAWCDE71 and the 11-character code RAWCDE71XXX refer to the same bank: Raiffeisenbank Wegscheid EG in Breitenberg, Germany. A SWIFT code shows the sending bank which institution is meant to get the money. You will need it mainly when dealing with transfers between countries.

On this page we explain what the code is put together, when it matters and what else you need for a transfer to or from Raiffeisenbank Wegscheid EG. Keep in mind that the SWIFT code only identifies the bank, not the account: the IBAN or account number takes care of that.

How long does an international transfer to Raiffeisenbank Wegscheid EG take?

There is no fixed answer: many land the same day or the next, others take several business days. Transfers sent late in the day or on a weekend or public holiday often go out the next business day. Sometimes a bank wants to know what the payment is for before releasing it.

Many banks use SWIFT gpi. Every payment carries a unique reference, the UETR, which your bank can use to see where the money is. Money transfer services often show tracking online so you can see how far the payment is.

If a payment has not arrived within the expected time, the sender needs to start with the bank that sent it rather than Raiffeisenbank Wegscheid EG. On the receiving end, you can check your account to see a partial amount, since fees may have been deducted.

Paying Raiffeisenbank Wegscheid EG in euros within SEPA

Within the SEPA zone, euro transfers to Raiffeisenbank Wegscheid EG use the same rules. The BIC field is usually optional or missing for those payments.

The BIC still matter when the currency is not euros, and for transfers from outside SEPA. A few forms also show a field for the BIC; if so, fill in RAWCDE71.

Instant euro transfers are increasingly available within SEPA – whether Raiffeisenbank Wegscheid EG offers them for your account is worth checking. As long as no currency is converted, the transfer tends to be inexpensive; it is the conversion that costs money.

Sending money abroad from Raiffeisenbank Wegscheid EG

When you transfer money to another country via Raiffeisenbank Wegscheid EG, the visible fee is only part of what you pay. There is the transfer fee, possibly charges from correspondent banks in between and, most importantly, the exchange rate markup when the money is converted.

Many banks do not show the margin on the rate separately – you only notice it if you compare. Check their rate with the mid-market rate, the midpoint between buy and sell rates you see on financial sites; the gap is what conversion costs you.

For many routes, a specialist provider turns out to be less expensive than a traditional bank transfer, mainly because of the exchange rate. On GoldexPay you can compare what recipients receive across providers. Using a transfer service does not require leaving Raiffeisenbank Wegscheid EG – you pay the provider from your own account.

About this information

We gather SWIFT/BIC codes using public sources and check our list from time to time. Still, banks merge or change codes, so information can be out of date. Figures such as the number of codes come from our directory and are not confirmed by Raiffeisenbank Wegscheid EG.

Treat this page as a reference, rather than as the last word. GoldexPay is independent of Raiffeisenbank Wegscheid EG; we are a comparison site for money transfers. Found outdated information? Tell us through the contact page so we can correct it.

The Euro and what conversion costs you

Germany uses the Euro (EUR). If you send money in a different currency gets converted at some point – by your bank, by Raiffeisenbank Wegscheid EG or by a bank in between. You rarely see a separate line for that conversion – the cost sits in the rate.

Who does the conversion affects the final amount. Compare what EUR arrives via different providers before choosing one.

The rate for EUR changes throughout the day. With bigger transfers, even seemingly small difference in the rate adds up quickly.

8 or 11 characters: RAWCDE71 versus RAWCDE71XXX

Every SWIFT/BIC code has an 8-character core: four letters for the bank, a two-letter country code and a two-character location code. Combined, these eight characters form RAWCDE71.

Many banks and apps accept both lengths. If a form asks for eleven characters, use RAWCDE71XXX.

As a rule the code is written in capitals, without spaces or dashes. Look out for O versus 0 or the letter I and the digit 1; they are easy to mix up.

Scams that use SWIFT codes

Criminals regularly send payment requests with changed bank details, sometimes in an email that looks completely genuine. That RAWCDE71 is a real code is no guarantee that a request mentioning it is genuine – fraudsters use real bank codes as well.

Check new bank details through a separate channel like a call to a number from an earlier contract. Be suspicious of time pressure, odd spelling or an email address that differs by one letter. If money was sent to a fraudster, contact your bank immediately: the sooner they act, the better the chance of a recall.

People receiving money can be targeted as well: one known trick is an overpayment and then sends a request to refund the difference to another account. Do not act before the money is actually in your account – ask Raiffeisenbank Wegscheid EG if something looks wrong.

Verifying the SWIFT code of Raiffeisenbank Wegscheid EG

The most reliable source for a SWIFT code is the bank details provided by the recipient: an invoice, a bank statement or their online banking. When the code you were given differs from RAWCDE71 or RAWCDE71XXX, stop and ask – contact the recipient or Raiffeisenbank Wegscheid EG.

Errors in the BIC are annoying more than disastrous – usually the money comes back, minus fees and time lost. An error in the account number can be more serious, because the money may be credited to someone else; check it just as carefully.

Most online banking apps check the format of an IBAN and some suggest the matching BIC. More and more banks check the name against the account; take any warning seriously. Sending a small amount first is worth it for a large first payment despite the extra fee.

Head office or branch code at Raiffeisenbank Wegscheid EG?

We have 2 SWIFT/BIC codes for Raiffeisenbank Wegscheid EG, spread over 2 cities. Next to the head office code RAWCDE71XXX, there are codes for regional offices and specialised units.

In most cases you do not need to pick a branch: transfers addressed to RAWCDE71XXX reach Raiffeisenbank Wegscheid EG correctly. A branch code only makes sense when the recipient’s bank explicitly asks for it.

If you are not sure, ask the person you are paying for the exact BIC in their bank details. Codes for branches are more likely to change than the head office code when a bank merges or closes offices.

Incoming international payments to Raiffeisenbank Wegscheid EG

Someone abroad who wants to pay you will ask for several details about your account, and missing ones are a common cause of delays. In practice that means: your name exactly as it appears on the account, your account number or IBAN, the SWIFT/BIC code RAWCDE71XXX and usually your postal address.

You can include the bank name and Breitenberg too. Double-check the details before you share them.

Do not be surprised if the incoming amount is below what the sender paid. Fees for incoming transfers vary from bank to bank – the price list of Raiffeisenbank Wegscheid EG tells you what applies. For business payments, it is common to agree who bears the costs to avoid a shortfall.