Volksbank Kaunitz EG SWIFT/BIC code

What GENODEM1 means for a payment to Volksbank Kaunitz EG

The 8-character code GENODEM1 and the full code GENODEM1VKZ identify the same bank: Volksbank Kaunitz EG. A BIC does one job: it ensures that an international payment reaches the right bank. In daily life you mostly see the code on invoices from abroad, in your banking app and on the account details that Volksbank Kaunitz EG provides.

We wrote this page to help anyone who sends money to an account at Volksbank Kaunitz EG. The SWIFT code on its own does not identify an individual account holder; for that you need the IBAN or account number is for.

Choosing between the 2 SWIFT codes of Volksbank Kaunitz EG

With 2 codes in 2 locations, Volksbank Kaunitz EG is one of the banks that register individual codes for branches and departments. The head office code is GENODEM1VKZ.

For most payments to a private or business account, the head office code GENODEM1VKZ works fine. Just use a branch code when your contact gives you that exact code.

Unsure which code to use? Check with the recipient. Branch codes are more likely to change than the head office code when a bank merges or closes offices.

SEPA payments and the Volksbank Kaunitz EG BIC

Germany belongs to the Single Euro Payments Area (SEPA). When you send euros within SEPA, you normally only need the IBAN; many banks no longer ask for the BIC.

You will still need GENODEM1VKZ for payments in other currencies or transfers from countries outside SEPA. Some banks and apps also ask for the BIC out of habit; if so, enter GENODEM1 or GENODEM1VKZ.

Instant euro transfers are increasingly supported within SEPA. As long as no currency is converted, the transfer tends to be cheap; it is the conversion that costs money.

Incoming international payments to Volksbank Kaunitz EG

A sender in another country will ask for a few details from you. What they need is: your name, account number or IBAN, GENODEM1VKZ and in many cases your home address.

It helps to add Volksbank Kaunitz EG and Kaunitz too. A mistake in your account number can be harder to fix than it looks; copy them from your banking app rather than typing.

An incoming payment does not always land for the full amount. Charges on incoming payments vary from bank to bank. On invoices, it is common to agree who bears the costs, so that nobody is left short.

Sending money abroad from Volksbank Kaunitz EG

If you send money abroad through Volksbank Kaunitz EG, the fee you see is only part of the cost. You pay the transfer fee, possibly fees charged by intermediary banks in between and, above all, the exchange rate markup when the money is converted.

That exchange rate margin tends to be the largest cost. An easy check: put the rate you get next to the mid-market rate for the same moment and look at the difference.

Money transfer services frequently offer a rate near the mid-market rate with clearer fees. GoldexPay compares these services side by side so you can see what actually arrives. You can always use your account at Volksbank Kaunitz EG; only the conversion and sending happen elsewhere.

What the XXX in GENODEM1VKZ means

The structure of a BIC is always the same: a bank code of four letters, a two-letter country code and a two-character location code. In this case, that core is GENODEM1.

XXX at the end of GENODEM1VKZ is not a missing value or an error: it indicates the head office of Volksbank Kaunitz EG. Some banking apps ask for 11 characters, and then you can enter XXX behind GENODEM1.

Enter the code in one piece, in capitals and without separators. Look out for O versus 0 and the letter I and the digit 1; they are easy to mix up.

Euro (EUR) and conversion costs

Accounts at Volksbank Kaunitz EG are usually held in EUR, the national currency of Germany. A payment in a foreign currency is converted into EUR before it reaches the account, and whoever converts it chooses the rate. Every conversion costs something – usually through the rate rather than a fee.

Where the conversion happens affects how much arrives, since every bank sets its own rate. In many cases it is cheaper to send EUR straight away through a transfer service that converts near the mid-market rate.

Exchange rates move during the day. If you pay regularly, small differences in the rate add up over a year.

Protect yourself against fake payment requests

Be wary if someone suddenly asks you to pay into a different account abroad. The fact that GENODEM1 exists is no guarantee that the account is genuine; criminals use the codes of real banks too.

Check changed bank details via a different channel, such as a phone number you already know, never via the email that asked for the change. Be suspicious of time pressure, unusual wording or a sender address that is slightly off. Acted too fast? Contact your bank straight away and ask them to try to recall the payment.

Scams can also target the receiver. Someone claims to have sent more than agreed and asks you to return the extra. A payment confirmation from the sender is no proof.

When will the money arrive at Volksbank Kaunitz EG?

There is no single answer: many arrive the same day or the next, others take several business days. Bank holidays in the sending or receiving country add extra days to the journey. Sometimes a bank wants to know what the payment is for before releasing it.

Many banks are connected to SWIFT gpi, which lets them follow a payment from bank to bank. Every payment gets a unique reference, the UETR, which your bank can use to see where the money is. Money transfer services usually provide a status online showing how far the money is.

A delayed transfer is traced from the sending side, using the payment confirmation. As a recipient, you can look at your account to see a partial amount because fees can reduce the amount.

Where our SWIFT data comes from

The directory on GoldexPay is compiled from public sources and we update it periodically. Even so, banks merge or change codes and our data may lag behind. The figures we show reflect our own data and not on information from Volksbank Kaunitz EG itself.

See our directory here as a handy check. GoldexPay has no connection to Volksbank Kaunitz EG, we only compare transfer services. If you notice a mistake, we appreciate a short note via the contact page.

Is GENODEM1 still correct? How to check

Ask the recipient to send you the account details directly from a recent statement. Compare that code with GENODEM1 here; if they differ, ask before you pay.

With a wrong code, the payment might be delayed, bounce back or cost extra. Remember the account number: a mistake there is more difficult to correct than a wrong BIC.

Many banking apps validate the format of IBANs and sometimes look up the BIC automatically – that confirms the format, not the owner. If your bank offers it, a name check on the recipient gives extra certainty. A small test payment is worth it for a large first payment, even if it costs an extra fee.