Vereinte Volksbank EG SWIFT/BIC code

GENODEM1 – the SWIFT/BIC code of Vereinte Volksbank EG

GENODEM1 and GENODEM1DST are the short and the long form of the same bank identifier, and both point to Vereinte Volksbank EG in Dorsten. The code has a single purpose: it makes sure that a cross-border transfer ends up at the right bank. In practice you usually see the code on invoices from abroad, in payment forms and on the account details of Vereinte Volksbank EG customers.

Further down you will find the practical side: receiving money at Vereinte Volksbank EG, sending money abroad and how to verify a SWIFT code before you hit send. The BIC identifies a bank or branch, not a single account; the IBAN or account number does that.

Scams that use SWIFT codes

One of the most common tricks works like this: you receive a message saying that a company now has new bank details and that the next payment should go there. The fact that GENODEM1 exists is no guarantee that the account is genuine – fraudsters use real bank codes as well.

Check new payment details through a separate channel, never via the email that asked for the change. Urgency and secrecy are warning signs. When money was sent to the wrong account, call your bank right away – speed improves the chance of getting it back.

Scams also target the receiver: someone sends too much and asks you to refund the difference to a new account. Wait until the money has really arrived – ask Vereinte Volksbank EG if something looks wrong.

When will the money arrive at Vereinte Volksbank EG?

There is no single answer: some land the same day or the next while others need several business days. Transfers sent late in the day or on a weekend or public holiday often go out the next business day. Extra checks by one of the banks may also cause some delay.

A growing number of banks are connected to SWIFT gpi, which lets them follow a payment from bank to bank. Every payment carries a unique reference, the UETR that banks can use to trace it. Keep your transfer receipt until the money has arrived – you will need it for any trace request.

Only the sending bank is able to request a trace or a recall; the receiving side usually has nothing to trace yet. As a recipient, you can check your account for a partial amount.

Euro transfers to Vereinte Volksbank EG: is a BIC needed?

Inside SEPA, euro transfers to an account in Germany use common rules. A field for the BIC is usually optional or missing in that case.

The BIC does come into play when the currency is not euros, and for transfers from outside SEPA. A few forms also show a field for the BIC; if so, enter GENODEM1 or GENODEM1DST.

Euro payments within SEPA usually arrive by the next business day. Charges on SEPA payments tend to be low as long as everything stays in euros.

Receiving money from abroad at Vereinte Volksbank EG

For an international payment into your account at Vereinte Volksbank EG, the person paying you has to have more than the SWIFT code. Share your name as the bank knows it, the IBAN or account number, the BIC GENODEM1DST and your address.

It helps to add the bank name and Dorsten as well, because some payment forms have separate fields for them. Double-check the details before you send them, because the sender’s bank usually copies them as is.

Do not be surprised if the amount credited is smaller than what the sender paid. Correspondent banks can take a fee, Vereinte Volksbank EG may charge for incoming payments, and if the money is converted, an exchange rate margin applies. On invoices, it is common to agree how the fees are split to avoid a shortfall.

Before you send: check the Vereinte Volksbank EG code

The most reliable source for the BIC is the bank details provided by the recipient. Compare that code with GENODEM1 on this page; if they differ, ask before you pay.

A wrong SWIFT code may lead to delays, a returned payment or extra fees along the way. An error in the account number can be more serious because it can reach the wrong person, so check that just as carefully.

Most online banking apps check the structure of an IBAN. If your bank offers it, a name check on the recipient gives extra certainty. When you pay someone new, many people send a small amount first before sending the rest.

Paying into Vereinte Volksbank EG in EUR

Most accounts at Vereinte Volksbank EG are usually held in EUR, the national currency of Germany. If you send money in a different currency, the amount has to be converted somewhere along the way: by your bank, an intermediary or Vereinte Volksbank EG itself. There is rarely a separate line for that conversion.

Which bank converts the money matters: every bank has its own margin. Often it is cheaper if you send EUR directly through a transfer service that converts near the mid-market rate rather than letting the receiving bank convert.

The EUR rate fluctuates constantly. If you pay regularly, small differences in the rate make a real difference over time.

GENODEM1 or GENODEM1DST – which one to use?

A SWIFT code is built from fixed blocks: the first four letters identify the bank, the next two show the country and characters seven and eight mark the location. The result is GENODEM1, the short form of the code.

The 11-character version has a three-character extension that identify a branch or department. If the last three are XXX, they simply mean the head office, which is why GENODEM1DST and GENODEM1 lead to the same place.

As a rule the code is written in capitals and without spaces. Copying the code beats typing it by hand.

International transfers from Vereinte Volksbank EG: the real cost

The price of an international transfer has several parts. There is the fee for the transfer itself, possibly charges from correspondent banks in between and, most importantly, the margin on the exchange rate when the money is converted.

The markup on the rate is often the biggest item, and it is easy to miss. A simple test: set the bank’s rate against the mid-market rate and work out the difference on your amount.

For many currency pairs, a transfer service turns out to be less expensive than a traditional bank transfer – mostly thanks to the rate. GoldexPay compares what recipients receive across providers, so you can pick the cheapest route. Using a transfer service does not mean closing your account at Vereinte Volksbank EG: you simply pay the service from your account.

Vereinte Volksbank EG: head office code versus branch codes

With 2 codes in 1 cities, Vereinte Volksbank EG is one of the banks that use individual codes for branches. The head office code remains GENODEM1DST.

Unless the recipient tells you otherwise, use GENODEM1DST or its short form GENODEM1. A branch code only makes sense if the account holder specifically asks for it.

Not sure which code applies? Ask the recipient. Codes for branches are more prone to be retired than the head office code.

Where our SWIFT data comes from

The details here come from public sources which we refresh regularly. Banks merge, change names and retire codes. Figures such as the number of codes come from our directory and may differ from what Vereinte Volksbank EG publishes.

Use this page as a starting point, not as the last word: the recipient’s bank details come first. GoldexPay is independent of Vereinte Volksbank EG; we are a comparison site for money transfers. Should you notice a mistake, we welcome a message via the contact page.