Vereinigte Volksbank EG SWIFT/BIC code

SWIFT/BIC code of Vereinigte Volksbank EG

The short code GENODEM1 and the full code GENODEM1BOT refer to the same bank: Vereinigte Volksbank EG, with its head office in Borgentreich. A BIC does one job: it makes sure that money from abroad reaches the right bank. In daily life you usually see it on invoices from abroad, in your banking app and on the account details that Vereinigte Volksbank EG provides.

On this page you can read what the code is put together, when you need it and which other details a transfer to or from Vereinigte Volksbank EG requires. The BIC names a bank or branch, never a specific account.

8 or 11 characters: GENODEM1 versus GENODEM1BOT

Every SWIFT/BIC code has the same eight core characters: four letters for the bank, two letters for the country and a two-character location code. The result is GENODEM1 for Vereinigte Volksbank EG.

The full version has a three-character extension for a branch or department. If the last three are XXX, they simply mean the head office, so GENODEM1BOT and GENODEM1 are interchangeable.

Enter the code as one block, in capitals and without spaces, exactly as shown here. A wrong character can send a payment to another bank, so check it twice.

About this information

Our SWIFT/BIC directory is based on publicly available sources. Still, banks merge or change codes. The number of codes we show reflect our own data.

For a payment that matters, confirm the code with Vereinigte Volksbank EG or with the recipient. We are a comparison service and not affiliated with Vereinigte Volksbank EG. If you notice something that is out of date, we welcome a message via the contact page.

Verifying the SWIFT code of Vereinigte Volksbank EG

The most reliable place for the right code remains a document from the bank itself like a bank statement or the account page in online banking. Compare it with GENODEM1 here and ask if anything does not match.

If the code is wrong, the transfer may get stuck, be returned or end up costing more. Remember the IBAN: an error there can be harder to correct than a wrong BIC.

A format check in your banking app merely confirms that the IBAN is valid, not that it is the right account. Where available, a name check on the recipient gives an extra layer of safety. A small test payment is worth it for a large first payment despite the extra fee.

Do you need GENODEM1 for a SEPA transfer?

Within the SEPA zone, euro payments to an account in Germany follow common rules, so the IBAN does the job in most cases. The BIC field is usually optional or missing for those payments.

You will still need GENODEM1BOT when sending non-euro payments or money from outside the SEPA area. If your banking app asks for the BIC anyway, entering GENODEM1 does no harm.

Instant payments in euros are increasingly available within SEPA – whether Vereinigte Volksbank EG offers them for your account is worth checking. Fees for SEPA transfers tend to be low as long as everything stays in euros.

Receiving money from abroad at Vereinigte Volksbank EG

To receive a transfer from abroad at Vereinigte Volksbank EG, the person paying you has to have more than the BIC. Share your name as the bank knows it, the IBAN or account number, SWIFT code GENODEM1BOT and your address.

Certain banks also ask for the bank’s address, so keep it at hand. Check the details before you send them – a sender rarely spots a mistake in someone else’s details.

Money from abroad does not always arrive for the full amount. Fees for incoming transfers differ per bank. Make clear with the sender who pays which costs before the money is sent.

Sending money abroad from Vereinigte Volksbank EG

When you transfer money to another country through Vereinigte Volksbank EG, the visible fee is rarely all of what you pay. You pay the fee for the transfer itself, sometimes charges from correspondent banks in between and, above all, the margin on the exchange rate when the money is converted.

Most of the cost usually sits in the exchange rate: the bank converts using an exchange rate with a margin built in. Compare their rate against the mid-market rate.

For a lot of routes, a specialist provider turns out to be less expensive than a bank. GoldexPay compares transfer providers next to each other so you can see what actually arrives for the same amount sent. You can always keep your account at Vereinigte Volksbank EG, while a cheaper service handles the conversion.

Protect yourself against fake payment requests

Fraudsters often send fake invoices containing new bank details sent from what looks like a familiar address. A valid SWIFT code says nothing about who owns the account.

Before paying, verify changed bank details through a phone call on a number you know, not one from the message. Be suspicious of time pressure, unusual wording or an email address that differs by one letter. If a payment has already gone to the wrong account, call your bank right away – speed improves the chance of getting it back.

Recipients are targeted too: one known trick is an overpayment and then sends a request to send back the difference to another account. A screenshot of a transfer is no proof.

Paying into Vereinigte Volksbank EG in EUR

Germany uses the Euro. Money sent in a different currency is converted into EUR. There is rarely a separate line for the conversion.

Who converts the payment makes a difference: every bank has its own margin. Check what EUR arrives via different services.

The rate for EUR changes constantly and quotes are often valid only for a short time. For regular payments, a slightly better rate make a real difference over a year.

How long does an international transfer to Vereinigte Volksbank EG take?

An international transfer typically needs anywhere from one to several business days, depending on the currency, the route and the banks involved. Payments made late in the day or just before a weekend or public holiday usually start a business day later. Sometimes a bank asks what the payment is for.

Many banks are connected to SWIFT gpi, which lets them follow a payment from bank to bank. Every gpi transfer gets a unique reference, the UETR. Money transfer services often provide a status in their app so you can see where the money has got.

A delayed transfer has to be traced by the sending bank on the basis of the transfer details. Ask the sender for a copy of the payment confirmation – it helps your own bank look for the money.

Vereinigte Volksbank EG: head office code versus branch codes

We have 6 SWIFT/BIC codes for Vereinigte Volksbank EG. Besides the head office code GENODEM1BOT, there are codes for branches, departments or specific services.

In most cases there is no need to pick a branch: transfers sent to GENODEM1BOT reach Vereinigte Volksbank EG correctly. When you receive a specific code, use it as it is instead of swapping it with the head office code.

The best way is to take the code straight from the recipient’s statement. Branch codes can change over time.