Volks- und Raiffeisenbank Prignitz EG SWIFT/BIC code

GENODEF1 – the SWIFT/BIC code of Volks- und Raiffeisenbank Prignitz EG

The short code GENODEF1 and the full code GENODEF1PER refer to the same bank: Volks- und Raiffeisenbank Prignitz EG. A SWIFT code tells the sending bank which institution should receive the money, a bit like a postal address for banks. In daily life you mostly come across the code on invoices from abroad, in payment forms and in the bank details of Volks- und Raiffeisenbank Prignitz EG customers.

On this page we explain what the code means, when you need it and what else a transfer to or from Volks- und Raiffeisenbank Prignitz EG requires. Remember that the BIC just identifies the bank, not the person: the account number or IBAN does that part.

Euro transfers to Volks- und Raiffeisenbank Prignitz EG: is a BIC needed?

Inside SEPA, euro payments to Volks- und Raiffeisenbank Prignitz EG follow the same rules. A field for the BIC is often optional in that case.

You will still need GENODEF1PER when sending non-euro payments or money from outside the SEPA area. Some banks and apps still show a field for the BIC out of habit; in that case, enter GENODEF1.

Euro payments within SEPA usually arrive by the next business day, and instant transfers in seconds where both banks support them. Fees for SEPA payments are generally low, as long as no currency conversion is involved.

Before you send: check the Volks- und Raiffeisenbank Prignitz EG code

Ask the recipient to send you the bank details straight from their banking app. Check that code with GENODEF1 here and ask if anything does not match.

Mistakes in the BIC tend to be costly more than disastrous – usually the money comes back, minus fees and time lost. A mistake in the account number is a bigger problem, because the money may be credited to someone else, so check that just as carefully.

Many banking apps check the structure of IBANs and some suggest the matching BIC. Some banks now compare the name with the account before you confirm. For a first payment, some people start with a small amount first and wait for confirmation.

About this information

The details here are taken from public sources which we refresh regularly. It can happen that a code here is out of date after a merger or reorganisation. Counts and locations come from our directory and may differ from what Volks- und Raiffeisenbank Prignitz EG publishes.

For a payment that matters, always confirm the BIC with Volks- und Raiffeisenbank Prignitz EG or with the recipient. GoldexPay is independent of Volks- und Raiffeisenbank Prignitz EG; we are a comparison site for money transfers. Spotted outdated information? Let us know through the contact page so we can correct it.

Scams that use SWIFT codes

One of the most common tricks goes like this: you receive a request saying that a contact has a new bank account and asking you to pay there from now on. The fact that GENODEF1 exists does not mean that a request mentioning it is legitimate; criminals use the codes of real banks too.

Check new bank details through a different channel, never via the email that asked for the change. Urgency and secrecy tend to be red flags; a genuine business can wait for you to check. If a payment was sent to the wrong account, call your bank right away.

Recipients can be targeted as well: a classic trick is an overpayment and then sends a request to refund the difference. Do not act before the money has really arrived and check with Volks- und Raiffeisenbank Prignitz EG if anything seems off.

Choosing between the 2 SWIFT codes of Volks- und Raiffeisenbank Prignitz EG

Our database contains 2 SWIFT/BIC codes for Volks- und Raiffeisenbank Prignitz EG. Next to the head office code GENODEF1PER, you will find codes for branches, departments or specific services.

Usually you do not need to pick a branch: payments sent to GENODEF1PER reach Volks- und Raiffeisenbank Prignitz EG correctly. Branch codes are only needed if the recipient’s bank specifically asks for it.

When in doubt, ask the person you are paying which code their bank gave them. Branch codes are more prone to be retired than GENODEF1PER when a bank merges or closes offices.

GENODEF1 or GENODEF1PER – which one to use?

Each SWIFT/BIC code has the same eight core characters: a four-letter bank code, a two-letter country code and two characters for the location. The result is GENODEF1 for Volks- und Raiffeisenbank Prignitz EG.

Most payment forms work with either length. If yours asks for eleven characters, enter GENODEF1PER; if it wants eight, use GENODEF1.

Leave out spaces, dots when you type GENODEF1. Pasting the code is safer than typing it by hand: a typo can point to another bank.

Paying someone abroad from your Volks- und Raiffeisenbank Prignitz EG account

The price of a payment abroad is made up of more than one component. There is the fee for the transfer itself, possibly fees charged by intermediary banks along the way and, above all, the margin on the exchange rate when the money is converted.

Banks do not show the margin on the rate separately, but you pay it all the same. An easy check: put the bank’s rate next to 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. Before your next transfer, take a minute to compare what arrives on GoldexPay instead of going straight to your bank. You can still keep your account at Volks- und Raiffeisenbank Prignitz EG, while a cheaper service handles the conversion.

Receiving money from abroad at Volks- und Raiffeisenbank Prignitz EG

Someone abroad who wants to pay you will ask for several details from you. The basics are: the account holder’s name, account number or IBAN, GENODEF1PER or GENODEF1 and, for some countries, your home address.

Certain banks want the name and address of Volks- und Raiffeisenbank Prignitz EG in Perleberg, so keep it at hand. A mistake in the IBAN is more trouble than you might think.

Money from abroad does not always land for the full amount. Charges on incoming payments vary from bank to bank. Make clear with the sender who pays which costs, especially for larger amounts.

Euro (EUR) and conversion costs

Accounts at Volks- und Raiffeisenbank Prignitz EG are typically held in EUR, the national currency of Germany. Money sent in a different currency is converted into EUR before it reaches the account, and whoever converts it chooses the rate. You rarely see a separate charge for the conversion – the cost sits in the rate.

Who does the conversion affects how much arrives, since every bank sets its own rate. Transferring the amount directly in EUR often prevents a second conversion at the receiving end.

The rate for EUR fluctuates throughout the day, so the amount you see is usually only valid for a short time. On larger amounts, even small gap in the rate can be worth more than the fee.

When will the money arrive at Volks- und Raiffeisenbank Prignitz EG?

How fast a transfer arrives at Volks- und Raiffeisenbank Prignitz EG is determined by several factors: the currency, the number of banks in between, daily processing deadlines and differences in time zone. Transfers sent after the cut-off time or on a weekend or public holiday usually go out a business day later. Extra checks by one of the banks may also cause a delay, even when all details are correct.

A growing number of banks use SWIFT gpi for faster and traceable payments. Each payment carries a unique reference, the UETR. Save the payment confirmation until the recipient confirms – you will need it for any trace request.

If the money does not arrive within the expected time, the sender should contact their own bank, not the receiving bank. Request from the sender the payment receipt including the reference – it helps your own bank look for the money.