Volksbank Lohne-Muehlen EG SWIFT/BIC code

GENODEF1 – the SWIFT/BIC code of Volksbank Lohne-Muehlen EG

The short code GENODEF1 and the full code GENODEF1LON refer to the same bank: Volksbank Lohne-Muehlen EG in Lohne, Germany. Every bank on the SWIFT network uses these codes to route payments between countries to the right institution. In practice you usually come across the code on international invoices, in payment forms and in the bank details that Volksbank Lohne-Muehlen EG provides.

Further down you will find the practical side: money coming in from abroad, sending money abroad and how to verify the code before you hit send. A SWIFT code names a bank or branch, not a specific account; the IBAN or account number does that.

Head office or branch code at Volksbank Lohne-Muehlen EG?

Our directory lists 2 SWIFT/BIC codes for Volksbank Lohne-Muehlen EG in 2 cities. Besides the head office code GENODEF1LON, there are codes for individual branches and departments.

Usually you do not need to pick a branch: transfers sent to GENODEF1LON are routed within Volksbank Lohne-Muehlen EG correctly. A branch code only makes sense when the recipient’s bank specifically mentions it.

When in doubt, check with the recipient for the exact BIC in their bank details. Codes can change when banks reorganise, so do not rely on old paperwork.

Euro transfers to Volksbank Lohne-Muehlen EG: is a BIC needed?

Inside SEPA, euro transfers to Volksbank Lohne-Muehlen EG follow common rules. The BIC field is usually optional or missing for those payments.

You still need GENODEF1LON when sending non-euro payments or money from outside the SEPA area. If your banking app asks for the BIC anyway, entering GENODEF1 does no harm.

Instant euro transfers are widely available across SEPA. Charges on SEPA payments are generally low.

Watch out for payment fraud

A common scam works like this: you receive a request saying that a company now has new bank details and that the next payment should go there. That GENODEF1 is a real code is no guarantee that a request mentioning it is legitimate; criminals use the codes of real banks too.

Verify changed payment details via a separate channel, such as a phone number you already know. Watch out for time pressure, unusual wording or an email address that differs by one letter. Already paid? Call the bank you paid from without delay and have them try to recall the payment and report the fraud.

People receiving money can be targeted as well: one known trick is an overpayment and then sends a request to send back the difference to another account. Do not act before the money is actually in your account.

Before you send: check the Volksbank Lohne-Muehlen EG code

The most reliable place for the right code remains a document from the bank itself like a bank statement or the account page in online banking. Compare it with GENODEF1 here; if they differ, ask before you pay.

Errors in the BIC are costly more than fatal. An error in the IBAN or account number can be a bigger problem, because the money may be credited to someone else; check it just as carefully.

Most online banking apps check the structure of IBANs and sometimes look up the BIC automatically, but that does not prove the account belongs to the right person. More and more banks check the name against the account – do not ignore a mismatch warning. When you pay someone new, many people send a small test amount before sending the rest.

About this information

We gather SWIFT/BIC codes using publicly available data and check our list regularly. Even so, banks merge or change codes. The number of codes we show reflect our own data.

Before a payment that matters, always confirm the code with the recipient’s bank or the recipient. GoldexPay is not affiliated with Volksbank Lohne-Muehlen EG. Spotted an error? Tell us via our contact form and we will look into it.

Euro (EUR) and conversion costs

The local currency in Germany is the Euro (EUR). If you send another currency it has to be converted somewhere along the way. Every conversion costs the amount – usually through the rate rather than a fee.

Who does the conversion affects the final amount. Compare what EUR the recipient gets with several services; the difference between options can be larger than you expect.

The EUR rate changes throughout the day and quotes are often valid only for a short time. On larger amounts, a seemingly small gap in the rate can be worth more than the fee.

Paying someone abroad from your Volksbank Lohne-Muehlen EG account

When you send money to another country through Volksbank Lohne-Muehlen EG, the fee you see is rarely all of what you pay. You pay the transfer fee, sometimes charges from correspondent banks in between and, above all, the margin on the exchange rate when the money is converted.

Banks do not show their exchange rate markup separately. A simple test: set the bank’s rate next to the mid-market rate for the same moment and work out the difference on your amount.

For many routes, a specialist provider is less expensive than a bank, mainly because of the exchange rate. Next time you send money, it is worth comparing what arrives via GoldexPay. Choosing a specialist does not require closing your account at Volksbank Lohne-Muehlen EG: you simply pay the service from your account.

Receiving money from abroad at Volksbank Lohne-Muehlen EG

Someone abroad who wants to pay you needs a few details from you. That means: your name as registered with Volksbank Lohne-Muehlen EG, your IBAN or account number, the BIC GENODEF1LON and usually your postal address.

Some sending banks also ask for the address of Volksbank Lohne-Muehlen EG in Lohne; it does no harm to include it. A mistake in your account number can be more trouble than it looks.

The amount you receive can be less than the amount sent. Correspondent banks can take a fee, and when currencies differ, a markup on the rate applies. For business payments, you can agree how the fees are split to avoid a shortfall.

Transfer times and tracking a payment to Volksbank Lohne-Muehlen EG

A SWIFT payment usually needs one to a few business days – it depends on currency, route and the banks in between. Weekends and public holidays in either country add extra days, since banks do not process on those days. Sometimes a bank wants to know what the payment is for.

A growing number of banks use SWIFT gpi for faster and traceable payments. Each gpi transfer gets a unique reference, the UETR. Money transfer services usually show a status online so you can see how far the money has got.

If a payment has not arrived within the expected time, the person who paid needs to start with their own bank. Ask the sender for the payment receipt.

What the XXX in GENODEF1LON means

A SWIFT code is made up of fixed blocks: the first four letters stand for the bank, the next two give the country and characters seven and eight indicate the location. Together, those parts form GENODEF1 – the version you usually see online.

The long version adds a three-character extension that identify a branch or department. When those three characters are XXX, they simply mean the head office, so GENODEF1LON and GENODEF1 are interchangeable.

Type the code as one block, in capitals and without spaces, exactly as shown here. A wrong letter can send the money to a different institution, so copy it carefully.