Volksbank Raiffeisenbank Nuernberg EG SWIFT/BIC code

SWIFT/BIC code of Volksbank Raiffeisenbank Nuernberg EG

Whether a recipient gives you GENODEF1 or GENODEF1N02, you are looking at the same address for Volksbank Raiffeisenbank Nuernberg EG in Germany. A BIC does one job: it makes sure that a cross-border transfer ends up at the right bank. In practice you mostly come across the code on international invoices, in your banking app and in the bank details that Volksbank Raiffeisenbank Nuernberg EG provides.

We wrote this page to help people who pays into an account at Volksbank Raiffeisenbank Nuernberg EG without mistakes. The SWIFT code on its own cannot identify an individual account holder; for that you need the account number or IBAN is for.

Sending money abroad from Volksbank Raiffeisenbank Nuernberg EG

The price of a payment abroad is made up of more than one component. Besides a fixed fee, banks in between can take a cut, and when the money changes currency, the bank often applies a rate below the actual market rate.

Most of the cost usually sits in the exchange rate, not in the fee: many banks convert at a rate that includes a margin. Check their rate with the mid-market rate; the gap is what conversion costs you.

For a lot of currency pairs, a specialist provider turns out to be less expensive than a bank. GoldexPay compares the amount that arrives across providers. You can always use your account at Volksbank Raiffeisenbank Nuernberg EG as the source of the money, while a cheaper service handles the conversion.

How long does an international transfer to Volksbank Raiffeisenbank Nuernberg EG take?

There is no single answer: some land the same day or the next while others need several business days. Transfers sent after the cut-off time or just before weekends and holidays often go out a business day later. Extra checks by one of the banks may also add a delay, regardless of the details.

Many banks use SWIFT gpi for faster and traceable payments. Every payment carries a unique transaction reference, the UETR. Money transfer services usually provide a status online showing how far the payment has got.

The bank that sent the money is able to start an official trace. Ask the sender for the payment receipt including the reference – it helps your own bank look for the money.

Is GENODEF1 still correct? How to check

The most reliable source for the BIC is the recipient’s own bank details: an invoice, a bank statement or their online banking. Check that code against GENODEF1 on this page and ask if anything does not match.

If the code is wrong, the payment might get stuck, bounce back or end up costing more, and tracing it can take weeks. A mistake in the IBAN or account number can be a bigger problem because it can reach the wrong person, so check that just as carefully.

Most online banking apps validate the format of an IBAN and some suggest the matching BIC, but that does not prove the account belongs to the right person. Where available, a name check before sending gives an extra layer of safety. When you pay someone new, many people send a small amount first before sending the rest.

Head office or branch code at Volksbank Raiffeisenbank Nuernberg EG?

Having 3 codes in 2 locations, Volksbank Raiffeisenbank Nuernberg EG is one of the banks that register individual codes for parts of the organisation. The main code remains GENODEF1N02.

For most payments to a private or business account, the head office code GENODEF1N02 is the right choice. A branch code only makes sense when the account holder explicitly mentions it.

The safest route is to take the code straight from the recipient’s invoice. Codes are sometimes changed or retired when banks reorganise, so do not rely on old paperwork.

Protect yourself against fake payment requests

Be wary if someone suddenly wants you to pay into another account. The fact that GENODEF1 exists does not mean that the account is genuine.

Always verify a change of bank details through a phone call. Watch out for time pressure, unusual wording or a sender address that is slightly off. When a payment was sent to the wrong account, call your bank right away.

Fraud also work the other way. Someone claims to have sent more than agreed and asks you to return the difference. Wait until the money has really arrived.

A note on our data

The codes here are taken from publicly available data that we update regularly. Banks reorganise, change names and change codes. Figures such as the number of codes are from our own dataset and may differ from what Volksbank Raiffeisenbank Nuernberg EG publishes.

For any payment of any size, confirm the BIC with Volksbank Raiffeisenbank Nuernberg EG or with the recipient. GoldexPay is not affiliated with Volksbank Raiffeisenbank Nuernberg EG, we only compare transfer services. Should you notice a mistake, we appreciate a message.

Receiving money from abroad at Volksbank Raiffeisenbank Nuernberg EG

When you are waiting for money from abroad, send the payer everything they need in one go. The basics are: the account holder’s name, account number or IBAN, GENODEF1N02 and often your home address.

It helps to include Volksbank Raiffeisenbank Nuernberg EG and Nuernberg too, since some forms ask for it. A typo in your account number can be harder to fix than it looks.

Do not be surprised if the amount credited is smaller than what the sender paid. Correspondent banks can take a fee, and when currencies differ, an exchange rate margin applies. Agree with the sender who covers the fees before the money is sent.

GENODEF1 or GENODEF1N02 – which one to use?

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. In this case, that core is GENODEF1.

Most banks and apps work with both lengths. If a form requires eleven characters, use GENODEF1N02; if it wants eight, use GENODEF1.

Type the code in one piece, in capitals and without separators. Pasting the code is safer than retyping it, because one wrong letter changes the bank.

Euro (EUR) and conversion costs

Germany pays in the Euro (EUR). Money sent in a different currency is converted into EUR before it reaches the account, and whoever converts it chooses the rate. You rarely see a separate charge for that conversion; it is built into the rate.

Where the conversion happens has an effect on the final amount. Transferring the amount already in EUR usually prevents an extra conversion by Volksbank Raiffeisenbank Nuernberg EG, provided the rate you get is fair.

The EUR rate fluctuates throughout the day. With bigger transfers, a seemingly small difference in the rate adds up quickly.

Euro transfers to Volksbank Raiffeisenbank Nuernberg EG: is a BIC needed?

Inside SEPA, euro payments to an account in Germany follow the same rules, so the IBAN does the job in most cases. A field for the BIC is usually optional or missing in that case.

You will still need GENODEF1N02 when sending payments in other currencies or money from outside the SEPA area. If a payment form asks for the BIC regardless, adding GENODEF1 does no harm.

Instant euro transfers are widely supported within SEPA – whether Volksbank Raiffeisenbank Nuernberg EG offers them for your account is worth checking. As long as no currency is converted, the transfer tends to be cheap; it is the conversion that costs money.