Volksbank Freiburg EG SWIFT/BIC code

What GENODE61 means for a payment to Volksbank Freiburg EG

Whether you are given GENODE61 or GENODE61FR1, you are looking at the same address for Volksbank Freiburg EG in Germany. A BIC does one job: it ensures that money from abroad ends up at the right bank. In daily life you mostly see the code on invoices from abroad, in your banking app and on the account details of Volksbank Freiburg EG customers.

Below we go through the practical questions: money coming in from abroad, sending money abroad and how to verify a SWIFT code before you confirm a payment. The SWIFT code on its own cannot identify a personal account; for that you need the account number or IBAN is for.

Paying someone abroad from your Volksbank Freiburg EG account

When you send money abroad through Volksbank Freiburg EG, the fee you see is only part of what you pay. On top of the transfer fee, correspondent or intermediary banks may take a cut, and if the money changes currency the bank usually uses a rate below the real market rate.

That exchange rate margin tends to be the biggest cost because it is hidden in the rate. An easy check: put the rate you get against the mid-market rate and work out the difference on your amount.

For a lot of currency pairs, a transfer service turns out to be cheaper than a traditional bank transfer – mostly thanks to the rate. Before your next transfer, it is worth to compare what arrives on GoldexPay rather than accepting the bank’s rate by default. You can always use your account at Volksbank Freiburg EG to fund the transfer; only the conversion and sending happen elsewhere.

Choosing between the 2 SWIFT codes of Volksbank Freiburg EG

We have 2 SWIFT/BIC codes for Volksbank Freiburg EG, spread over 2 cities. Besides the head office code GENODE61FR1, there are codes for regional offices and specialised units.

In most cases there is no need to pick a branch: transfers addressed to GENODE61FR1 are routed within Volksbank Freiburg EG without problems. A branch code only makes sense if the account holder explicitly mentions 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 GENODE61FR1.

Euro (EUR) and conversion costs

Germany uses the Euro. When you pay money in a different currency has to be converted at some point – by your bank, by Volksbank Freiburg EG or by a bank in between. Each conversion costs the amount – usually through the rate rather than a fee.

Where the conversion happens has an effect on the final amount, as rates and margins differ per bank. Often it is cheaper if you send EUR straight away via a transfer service that converts near the mid-market rate.

Rates for EUR change all the time, and some providers let you lock in a rate. If you pay regularly, a slightly better rate add up over time.

Is GENODE61 still correct? How to check

Have the recipient send you their account details straight from a recent statement. Check it with GENODE61 here and ask if anything does not match.

With a wrong code, the payment may get stuck, bounce back or end up costing more. A mistake in the account number is a bigger problem because it can reach the wrong person; check it just as carefully.

A format check by your bank merely confirms that the code exists – not that it belongs to the person you mean to pay. If your bank offers it, a name check on the recipient gives extra certainty. When you pay someone new, some people start with a small amount first and wait for confirmation.

Getting paid from abroad into a Volksbank Freiburg EG account

When you expect money from abroad, send the payer everything they need in one go. Give them your name as the bank knows it, the IBAN or account number, SWIFT code GENODE61FR1 and your address, which some banks require.

You can add Volksbank Freiburg EG and its city too. Double-check every detail before you share them.

An incoming payment does not always arrive for the full amount. Correspondent banks can take a fee, Volksbank Freiburg EG may charge for incoming payments, and if the money is converted, an exchange rate margin applies. On invoices, it is common to agree who bears the costs to avoid a shortfall.

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

An international transfer usually takes one to a few business days – it depends on currency, route and the banks in between. Bank holidays in either country add extra days, since banks do not process on those days. Occasionally a bank asks what the payment is for, which can hold things up.

If the money seems late, contact the sending bank about the tracking status and the transaction reference. Money transfer services usually provide tracking online showing where the payment is.

The bank that sent the money can request a trace; the receiving side usually has nothing to trace yet. As a recipient, it helps to check your statements for a slightly lower amount, since fees may have been deducted.

About this information

This directory is compiled from publicly available sources. It is possible that information here is no longer current. Counts and locations are from our own dataset.

Before any payment that matters, always check the code with Volksbank Freiburg EG or with the recipient. GoldexPay is an independent comparison site and not part of Volksbank Freiburg EG. Spotted outdated information? Let us know through the contact page and we will look into it.

Paying Volksbank Freiburg EG in euros within SEPA

Since Germany is part of SEPA, a euro transfer into Volksbank Freiburg EG from within the SEPA area normally requires just the IBAN. Many banks no longer ask for the BIC in that case.

You still need GENODE61FR1 when sending payments in other currencies or transfers from countries outside SEPA. If a payment form has a field for the BIC anyway, adding GENODE61 does no harm.

Instant euro transfers are widely available across SEPA. Charges on SEPA payments tend to be low.

8 or 11 characters: GENODE61 versus GENODE61FR1

A SWIFT code is built from fixed blocks: characters one to four identify the bank, the next two give the country and characters seven and eight indicate the location. For Volksbank Freiburg EG, the 8-character core is GENODE61.

XXX at the end of GENODE61FR1 does not stand for a missing value or an error: it indicates the main office of Volksbank Freiburg EG. Some banking apps insist on 11 characters, and then you can enter XXX behind GENODE61.

Leave out spaces or dashes when you enter GENODE61. A wrong character can send a payment to a different institution, so copy it carefully.

Watch out for payment fraud

A common scam goes like this: an email arrives with a request saying that a company now has a new bank account and asking you to pay there from now on. A valid SWIFT code tells you nothing about who owns the account: scammers use real codes of real banks.

Before paying, verify changed bank details through a phone call on a number you know, not one from the message. Urgency or secrecy tend to be red flags; a genuine business can wait for you to check. Already paid? Contact the bank you paid from straight away and have them start a recall and report the fraud.

Recipients are targeted too: a classic trick is a buyer who pays too much and then sends a request to refund the difference to another account. A payment confirmation from the sender proves nothing; only your own account shows what has arrived.