Volksbank Gebhardshain EG SWIFT/BIC code

GENODED1 – the SWIFT/BIC code of Volksbank Gebhardshain EG

GENODED1 and GENODED1GBZ are the short and the long form of the same SWIFT/BIC code, and both point to Volksbank Gebhardshain EG in Elkenroth. Every bank on the SWIFT network uses these codes to route payments between countries to the correct bank. You will need it mostly when dealing with transfers between countries or a currency.

We wrote this page to help anyone who pays into an account at Volksbank Gebhardshain EG. The BIC names an institution, never a single account; the IBAN or account number does that.

Why Volksbank Gebhardshain EG has an 8- and an 11-character code

The layout of a BIC never changes: four characters for the institution, a two-letter country code and a two-character location code, plus an optional branch code. For Volksbank Gebhardshain EG, the 8-character core is GENODED1.

The full version adds a three-character extension that identify a branch or department. When those three characters are XXX, the code points to the head office, which is why GENODED1GBZ and GENODED1 lead to the same place.

Enter the code as one block, in capitals and without spaces. A single letter can send the money to a different institution.

Which of the 2 codes of Volksbank Gebhardshain EG do you need?

Volksbank Gebhardshain EG has 2 separate SWIFT/BIC codes across 2 locations. One of them is the head office code; the others belong to branches.

Unless the recipient tells you otherwise, use GENODED1GBZ. A branch code only makes sense if the account holder explicitly mentions it, which is more common for corporate accounts and specialised services.

The best way is to copy the code directly from the recipient’s statement. Codes for branches are more likely to change than the head office code.

Getting paid from abroad into a Volksbank Gebhardshain EG account

For a transfer from abroad at Volksbank Gebhardshain EG, the sender needs more than the SWIFT code. In practice that means: your name as registered with Volksbank Gebhardshain EG, your IBAN or account number, the SWIFT/BIC code GENODED1GBZ (or GENODED1) and sometimes your postal address.

The sender’s bank might request the address of your bank; the head office in Elkenroth is usually fine. A typo in your account number can be more trouble than it looks; copy them from your banking app rather than typing.

An incoming payment does not always arrive for the full amount. Intermediary banks may deduct a fee, Volksbank Gebhardshain EG may charge for incoming payments, and if the currency changes, a markup on the rate comes on top. On invoices, you can agree how the fees are split.

Transfer times and tracking a payment to Volksbank Gebhardshain EG

How fast a transfer arrives at Volksbank Gebhardshain EG depends on several factors: the currency, how many intermediary banks are involved, cut-off times and differences in time zone. Transfers sent after the cut-off time or just before a weekend or public holiday often start the next business day. Occasionally 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. Each payment gets a unique transaction reference, the UETR that banks can use to trace it. Keep the payment confirmation until the recipient confirms.

The bank that sent the money is able to request a trace or a recall – the recipient’s bank often cannot see a payment that has not arrived. On the receiving end, it helps to check your account for a slightly lower amount.

Watch out for payment fraud

Be wary if a contact suddenly wants you to pay into another account or a bank in another country. The fact that GENODED1 exists is no guarantee that a request mentioning it is legitimate – fraudsters use real bank codes as well.

Check changed payment details through a different channel, such as a phone number you already know, never via the email that asked for the change. Urgency or secrecy are warning signs. Acted too fast? Call your bank without delay and have them try to recall the payment.

Fraud also target the receiver. Someone sends more than agreed and wants you to return the extra to a new account. Wait until the money is actually in your account – ask Volksbank Gebhardshain EG if something looks wrong.

Sending EUR to Volksbank Gebhardshain EG

Germany pays in the Euro, with the currency code EUR. When you pay another currency it has to be converted at some point: by your bank, an intermediary or Volksbank Gebhardshain EG itself. Every conversion costs the amount.

Who does the conversion affects the final amount, as rates and margins differ per bank. Transferring the money already in EUR usually prevents a second conversion – as long as your own rate is good.

The rate for EUR fluctuates throughout the day and quotes are often valid only for a short time. If you pay regularly, small differences in the rate add up over a year.

What a transfer from Volksbank Gebhardshain EG abroad really costs

What you pay for a payment abroad has several parts. Besides the transfer fee, correspondent or intermediary banks may deduct a fee, and if currencies are converted, the bank usually uses a rate that is less favourable than the actual market rate.

That exchange rate margin tends to be the largest item. A simple test: set the rate you get next to the mid-market rate for the same moment and look at the difference.

Money transfer services frequently use rates closer to the mid-market rate and lower fees. On GoldexPay we compare the amount that arrives with different services, which makes the cheapest option easy to spot. You can always keep your account at Volksbank Gebhardshain EG, while a cheaper service handles the conversion.

Where our SWIFT data comes from

This directory is based on publicly available sources and we update it periodically. It is possible that a code here is out of date, for example after a merger. The figures on this page reflect what is in our directory, not official figures from Volksbank Gebhardshain EG.

Before a payment that matters, check the BIC with Volksbank Gebhardshain EG or the recipient. GoldexPay is independent of Volksbank Gebhardshain EG; we are a comparison site for money transfers. If you notice something that is out of date, we appreciate a short note.

Verifying the SWIFT code of Volksbank Gebhardshain EG

The safest source for the BIC is the bank details provided by the recipient. Check it with GENODED1 here and ask if anything does not match.

An incorrect BIC can cause delays, a returned payment or extra fees along the way. An error in the account number is more serious because it can reach the wrong person.

Many banking apps check the format of IBANs and sometimes look up the BIC automatically. More and more banks compare the payee name against the account – do not ignore a mismatch warning. A small test payment can be a sensible step for a large first payment despite the extra fee.

SEPA payments and the Volksbank Gebhardshain EG BIC

Germany belongs to the SEPA area, the zone for standardised euro payments. When you send euros within SEPA, the IBAN is usually enough and the BIC is often filled in automatically.

The BIC still come into play for payments in other currencies and when the money comes from outside SEPA. A few banks and apps still show a field for the BIC; if so, enter GENODED1.

SEPA transfers usually arrive by the next business day. Provided the payment stays in euros, a SEPA transfer tends to be cheap; costs rise once a conversion is involved.