Volksbank Kempen-Grefrath EG SWIFT/BIC code

Volksbank Kempen-Grefrath EG SWIFT code: GENODED1

GENODED1 and GENODED1KMY are the short and the long form of the same bank identifier, and both point to Volksbank Kempen-Grefrath EG in Grefrath. The code has a single purpose: it ensures that money from abroad reaches the right bank. In practice you mostly come across it on invoices from abroad, in payment forms and on the account details that Volksbank Kempen-Grefrath EG provides.

On this page you can read what the code means, when it matters and which other details a transfer to or from Volksbank Kempen-Grefrath EG requires. The SWIFT code on its own does not identify an individual account holder; for that you need the account number or IBAN .

Receiving money from abroad at Volksbank Kempen-Grefrath EG

For an international payment into your account at Volksbank Kempen-Grefrath EG, the person paying you has to have more than the BIC. Give them your name as the bank knows it, your account number or IBAN, SWIFT code GENODED1KMY and your address.

The sender’s bank might also ask for the bank address of Volksbank Kempen-Grefrath EG. Double-check every detail before you send them.

The amount you receive can be less than what was sent. Correspondent banks can take a fee, and if the money is converted, an exchange rate margin comes on top. For business payments, it is common to agree how the fees are split.

What a transfer from Volksbank Kempen-Grefrath EG abroad really costs

A bank transfer abroad can cost rather more than the fee suggests. On top of a fixed fee, banks in between may deduct a fee, and when the money changes currency, the bank usually uses a rate below the real market rate.

That exchange rate margin is often the biggest cost even though it is not listed as a fee. Check their rate with the mid-market rate, the midpoint between buy and sell rates you see on financial sites; the gap is what conversion costs you.

Money transfer services often use rates closer to the mid-market rate and lower fees. Next time you send money, take a minute comparing what arrives via GoldexPay. Using a transfer service does not mean closing your account at Volksbank Kempen-Grefrath EG – you pay the provider from your own account.

Why Volksbank Kempen-Grefrath EG has an 8- and an 11-character code

The layout of a BIC is always the same: a bank code of four letters, two for the country and two for the location, sometimes followed by a branch code. Combined, these eight characters make up GENODED1.

Most banks and apps accept either length. If yours requires eleven characters, use GENODED1KMY; if it wants eight, use GENODED1.

Type the code in one piece, in upper case and without spaces, exactly as shown here. A single letter may route the money to a different institution, so check it twice.

Transfer times and tracking a payment to Volksbank Kempen-Grefrath EG

How fast a payment reaches Volksbank Kempen-Grefrath EG is determined by several factors: the currency, the number of banks in between, daily processing deadlines and time zones. Bank holidays in either country add extra days, since banks do not process on those days. Extra checks on larger or unusual payments may also cause some delay, regardless of the details.

Many banks are connected to SWIFT gpi, which lets them follow a payment from bank to bank. Every payment carries a unique transaction reference, the UETR, which your bank can use to see where the money is. Keep your transfer receipt until the money has arrived.

A delayed transfer is traced from the sending side, using the payment confirmation. On the receiving end, you can look at your account for a partial amount.

Do you need GENODED1 for a SEPA transfer?

Since Germany is in the SEPA zone, a euro transfer to Volksbank Kempen-Grefrath EG from within the SEPA area usually requires just the IBAN. Most banking apps do not require the BIC in that case.

You will still need GENODED1KMY for non-euro payments or transfers from countries outside SEPA. Some forms also show a field for the BIC; in that case, fill in GENODED1.

Instant euro transfers have become increasingly supported within SEPA – whether Volksbank Kempen-Grefrath EG offers them for your account is worth checking. As long as the payment stays in euros, a SEPA transfer is cheap; costs rise once a conversion is involved.

Euro (EUR) and conversion costs

The local currency of Germany is the Euro (EUR). When you pay money in a different currency, the amount has to be converted somewhere along the way – by your bank, by Volksbank Kempen-Grefrath EG or by a bank in between. Every conversion eats into something – usually through the rate rather than a fee.

Which bank converts the money matters: every bank has its own margin. Often you pay less if you send EUR straight away via a transfer service with a good rate, so that the receiving bank does not need to convert again.

Exchange rates change all the time. If you pay regularly, small differences in the rate make a real difference over a year.

Watch out for payment fraud

One of the most common tricks works like this: you receive a request saying that a contact now has a new bank account and asking you to pay there from now on. A real SWIFT code tells you nothing about who owns the account: scammers use real codes of real banks.

Check changed payment details via a different channel, such as a phone number you already know, not by replying to the message. Urgency and requests to keep it quiet are red flags – a real supplier can wait a day. Already paid? Contact the bank you paid from without delay and ask them to start a recall.

Recipients can be targeted as well: one known trick is a buyer who pays too much and then sends a request to refund the difference. Wait until the money is actually in your account.

Is GENODED1 still correct? How to check

The most reliable place for the correct BIC remains a document from the bank itself like a bank statement or the account page in online banking. Compare that code against GENODED1 on this page.

Mistakes in the SWIFT code are costly rather than disastrous – usually the money comes back, minus fees and time lost. A mistake in the account number can be a bigger problem because it can reach the wrong person.

Most online banking apps validate the structure of an IBAN, but that does not prove the account belongs to the right person. More and more banks check the payee name with the account before you confirm – do not ignore a mismatch warning. A small test payment is a sensible step for a large first payment.

A note on our data

The directory on GoldexPay is based on publicly available sources. Institutions merge, close branches and retire codes, and a directory never catches every change immediately. The figures we show are based on our own data and not on information from Volksbank Kempen-Grefrath EG itself.

Before any payment of any size, check the BIC with the recipient’s bank or the recipient. GoldexPay is an independent comparison service for money transfers and not affiliated with Volksbank Kempen-Grefrath EG. Spotted outdated information? Let us know through the contact page.

Head office or branch code at Volksbank Kempen-Grefrath EG?

Volksbank Kempen-Grefrath EG has 2 separate SWIFT/BIC codes across 2 locations. Only one is the head office code; the others belong to branches or departments.

For the vast majority of incoming transfers, the head office code GENODED1KMY is what you need. When you receive a branch code, stick to it instead of replacing it for the head office code.

The safest approach is to copy the code straight from the recipient’s bank details. Branch codes can change over time, so a code from an old document is not always valid.