Volksbank Vogtland EG SWIFT/BIC code

GENODEF1 – the SWIFT/BIC code of Volksbank Vogtland EG

The 8-character code GENODEF1 and the 11-character code GENODEF1GEZ identify one and the same institution: Volksbank Vogtland EG. A BIC has a single purpose: it makes sure that an international payment reaches the right bank. In practice you mostly come across it on invoices from abroad, in payment forms and in the bank details that Volksbank Vogtland EG provides.

We wrote this page to help people who pays into an account at Volksbank Vogtland EG. A SWIFT code names an institution, not a single account, which is why you always need the account number too.

A note on our data

The directory on GoldexPay is based on publicly available sources. It can happen that information on this page is no longer current after a merger or reorganisation. The number of codes on this page reflect our own data.

Before a payment of any size, check the BIC with Volksbank Vogtland EG or with the recipient. We are an independent comparison service for money transfers and not affiliated with Volksbank Vogtland EG. Found outdated information? Tell us via our contact form and we will look into it.

Sending EUR to Volksbank Vogtland EG

Most accounts at Volksbank Vogtland EG are usually held in EUR, the national currency. If you send money in a different currency has to be converted at some point: by your bank, an intermediary or Volksbank Vogtland EG itself. You rarely see a separate charge for that conversion – the cost sits in the rate.

Where the conversion happens has an effect on the final amount, since every bank sets its own rate. Check what EUR the recipient gets via several services; the difference between options can be larger than you expect.

The rate for EUR changes constantly, so the amount you see is usually only valid for a short time. With bigger transfers, a seemingly small gap in the rate can be worth more than the fee.

When will the money arrive at Volksbank Vogtland EG?

How quickly a payment reaches Volksbank Vogtland EG depends on several factors: the currency, the number of banks in between, cut-off times and time zones. Weekends and public holidays in either country add extra days, since banks do not process on those days. Extra checks by one of the banks may also cause a delay.

A growing number of banks are connected to SWIFT gpi for faster and traceable payments. Each payment carries a unique reference, the UETR that banks can use to trace it. Save your transfer receipt until the recipient confirms.

A delayed transfer has to be investigated by the sending bank on the basis of the transfer details. Request from the sender the payment receipt – it helps your own bank look for the money.

SEPA payments and the Volksbank Vogtland EG BIC

Because Germany is in SEPA, a euro payment into Volksbank Vogtland EG from within the SEPA area normally only needs the IBAN. Many banks do not require the BIC in that case.

Outside the euro and for senders outside SEPA, GENODEF1GEZ remains part of the payment details. If a payment form has a field for the BIC regardless, entering GENODEF1 is fine.

Euro payments within SEPA normally land by the next business day. Charges on SEPA payments tend to be low.

Protect yourself against fake payment requests

Fraudsters regularly send payment requests with new bank details, sometimes in an email that looks completely genuine. That GENODEF1 is a real code is no guarantee that a request mentioning it is genuine – fraudsters use real bank codes as well.

Before paying, verify a change of bank details by phone on a number you know, not one from the message. Be suspicious of time pressure, odd spelling or an email address that differs by one letter. When a payment has already gone to a fraudster, call your bank right away – speed improves the chance of getting it back.

Fraud also target the receiver. Someone sends more than agreed and asks you to return the extra. A payment confirmation from the sender is no proof – check your own account.

Choosing between the 4 SWIFT codes of Volksbank Vogtland EG

Having 4 codes in 3 locations, Volksbank Vogtland EG belongs to the banks that register individual codes for branches and departments. The head office code remains GENODEF1GEZ.

For the vast majority of payments to a private or business account, the head office code GENODEF1GEZ is the right choice. Only use a branch code when the account holder explicitly asks for it.

The safest route is to take 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.

How to check GENODEF1 before you pay

The best place to find the correct BIC is a document from the bank itself like a bank statement or the account page in online banking. Check it against GENODEF1 here and ask if anything does not match.

Mistakes in the SWIFT code tend to be annoying more than fatal – usually the money comes back, minus fees and time lost. Do not forget the account number: an error there is harder to correct than a wrong BIC.

Most online banking apps check the structure of an IBAN and some suggest the matching BIC. Some banks now compare the payee name against the account; take any warning seriously. When you pay someone new, some people start with a small test amount before sending the rest.

Receiving money from abroad at Volksbank Vogtland EG

A sender in another country will ask for a few details from you. Share your name as the bank knows it, the IBAN or account number, the BIC GENODEF1GEZ and your address.

It helps to add the bank name and Greiz too, since some forms ask for it. Check each detail before you share them – a sender rarely spots a mistake in someone else’s details.

What lands in your account can be lower than the amount sent. Fees for incoming transfers differ from bank to bank – the price list of Volksbank Vogtland EG tells you what applies. Agree with the sender who covers the fees, especially for larger amounts.

International transfers from Volksbank Vogtland EG: the real cost

The price of a payment abroad has several parts – not just the fee on your screen. You pay the fee for the transfer itself, sometimes charges from correspondent banks in between and, above all, the exchange rate markup.

The markup on the rate is often the largest cost even though it is not listed as a fee. An easy check: put the bank’s rate next to the mid-market rate and work out the difference on your amount.

Specialised transfer providers frequently use rates closer to the mid-market rate with clearer fees. Before your next transfer, it is worth to compare what arrives via GoldexPay. You can always use your account at Volksbank Vogtland EG as the source of the money.

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

Each SWIFT/BIC code has the same eight core characters: four letters for the bank, a two-letter country code and a two-character location code. The result is GENODEF1, the short form of the code.

Most banks and apps accept both lengths. If a form asks for eleven characters, enter GENODEF1GEZ, otherwise GENODEF1 is fine.

Type the code as one block, in capitals and without separators, exactly as shown here. Watch for the letter O and the digit 0 or I versus 1.