Vereinigte Volksbank Raiffeisenbank EG SWIFT/BIC code

GENODE51 – the SWIFT/BIC code of Vereinigte Volksbank Raiffeisenbank EG

If an invoice shows GENODE51 or GENODE51MIC, you are looking at the same address for Vereinigte Volksbank Raiffeisenbank EG in Germany. Banks worldwide use these codes to route international transfers to the right institution. You will need it mainly when dealing with payments that cross a border and payments in foreign currencies.

On this page you can read how the code is put together, when you need it and which other details a transfer to or from Vereinigte Volksbank Raiffeisenbank EG requires. A SWIFT code names a bank or branch, not a single account; the IBAN or account number does that.

Paying someone abroad from your Vereinigte Volksbank Raiffeisenbank EG account

When you send money to another country via Vereinigte Volksbank Raiffeisenbank EG, the fee you see is rarely all of what you pay. Besides the transfer fee, banks in between may take a cut, and when the money changes currency, the bank often uses a rate that is less favourable than the real market rate.

Banks rarely show their exchange rate markup separately. An easy check: set the bank’s rate 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 with clearer fees. Before your next transfer, it is worth to compare what arrives via GoldexPay instead of going straight to your bank. Choosing a specialist does not mean leaving Vereinigte Volksbank Raiffeisenbank EG – you pay the provider from your own account.

Is GENODE51 still correct? How to check

The most reliable place for the correct BIC remains paperwork issued by the bank. When the code you were given differs from GENODE51 or GENODE51MIC, do not guess: check with the recipient or with Vereinigte Volksbank Raiffeisenbank EG directly.

A wrong SWIFT code may lead to delays, a returned payment or additional charges for investigation. An error in the account number is more serious, because the money may be credited to someone else.

Many banking apps check the format of an IBAN and sometimes look up the BIC automatically, but that does not prove the account belongs to the right person. More and more banks check the payee name with the account; take any warning seriously. For a first payment, some people send a small test amount before sending the rest.

How up to date is this code?

The directory on GoldexPay is based on public sources and is updated regularly. Still, banks merge or change codes. The number of codes we show are based on what is in our directory.

Treat the information here as a handy check and rely on the recipient or Vereinigte Volksbank Raiffeisenbank EG for the final confirmation. GoldexPay is a comparison site for money transfers and not part of Vereinigte Volksbank Raiffeisenbank EG. Spotted an error? Tell us via our contact form so we can correct it.

Euro transfers to Vereinigte Volksbank Raiffeisenbank EG: is a BIC needed?

Since Germany is in SEPA, a euro transfer to Vereinigte Volksbank Raiffeisenbank EG from within the SEPA area usually requires just the IBAN. Most banking apps no longer ask for the BIC in that case.

For anything other than euros and for senders outside SEPA, GENODE51MIC is still required. If a payment form has a field for the BIC anyway, adding GENODE51 is fine.

Instant payments in euros have become increasingly available within SEPA – whether Vereinigte Volksbank Raiffeisenbank EG offers them for your account is worth checking. As long as the payment stays in euros, a SEPA transfer is inexpensive.

Protect yourself against fake payment requests

Fraudsters regularly use payment requests with changed bank details. A real SWIFT code tells you nothing about who owns the account: scammers use real codes of real banks.

Never rely on a phone number in the same message that announces the change. Be suspicious of time pressure, odd spelling or an email address that differs by one letter. If money was sent to the wrong account, call your bank right away – speed improves the chance of getting it back.

Recipients are targeted too: a classic trick is an overpayment followed by a request to refund the difference abroad. Wait until the money has really arrived and check with Vereinigte Volksbank Raiffeisenbank EG if anything seems off.

The Euro and what conversion costs you

The national currency of Germany is the Euro (EUR). Money sent in a different currency will be exchanged into EUR. There is rarely a separate charge for that conversion.

Who converts the money makes a difference, because each party uses its own rate. In many cases it is cheaper if you send EUR straight away via a provider with a good rate.

Rates for EUR move during the day, and some providers let you lock in a rate. With bigger transfers, a small difference in the rate can be worth more than the fee.

What the XXX in GENODE51MIC means

Every SWIFT/BIC code starts with the same eight core characters: four letters for the bank, a two-letter country code and two characters for the location. That gives you GENODE51 for Vereinigte Volksbank Raiffeisenbank EG.

XXX at the end of GENODE51MIC does not stand for a placeholder or a mistake: it indicates the head office of Vereinigte Volksbank Raiffeisenbank EG. Some banking apps ask for 11 characters, and then you simply add XXX after GENODE51.

Leave out spaces or dashes when you enter GENODE51 or GENODE51MIC. A single character can send the money to a different institution, so copy it carefully.

Receiving money from abroad at Vereinigte Volksbank Raiffeisenbank EG

To receive an international payment into your account at Vereinigte Volksbank Raiffeisenbank EG, the sender has to have not just the SWIFT code. What they need is: your name, IBAN or account number, GENODE51MIC or GENODE51 and in many cases your home address.

It helps to include Vereinigte Volksbank Raiffeisenbank EG and its city too, since some forms ask for it. A typo in the IBAN can be more trouble than you might think.

Money from abroad will not always land in full. Fees for incoming transfers vary per bank; check the price list of Vereinigte Volksbank Raiffeisenbank EG. For business payments, you can agree who bears the costs, so that nobody is left short.

Which of the 3 codes of Vereinigte Volksbank Raiffeisenbank EG do you need?

Our directory lists 3 SWIFT/BIC codes for Vereinigte Volksbank Raiffeisenbank EG, spread over 2 locations. Next to the head office code GENODE51MIC, there are codes for individual branches and departments.

In most cases you do not need to pick a branch: payments sent to GENODE51MIC are routed within Vereinigte Volksbank Raiffeisenbank EG correctly. If you have been given a specific code, use it as it is instead of replacing it for the head office code.

The best way is to take the code straight from the account holder’s invoice. Codes for branches are more likely to be retired than GENODE51MIC when a bank merges or closes offices.

Transfer times and tracking a payment to Vereinigte Volksbank Raiffeisenbank EG

There is no single answer for every transfer: many land the same day or the next, others take several business days. Weekends and public holidays in the sending or receiving country add a day or more. Sometimes a bank asks about the purpose of a payment, which can hold things up.

When a payment takes longer than expected, contact the sending bank about the status and the transaction reference; with that reference banks can see where the payment is. Keep your transfer receipt; it contains the details a bank needs to start a trace.

A delayed transfer has to be traced by the sending bank. Ask the sender for a copy of the payment confirmation; that often settles the question quickly.