SWIFT Code GENODEF1PAY — RAIFFEISENBANK PARSBERG EG, VELBURG

About SWIFT Code GENODEF1PAY — RAIFFEISENBANK PARSBERG EG, VELBURG

SWIFT code GENODEF1PAY is the official 11-character branch-specific BIC (Bank Identifier Code) for RAIFFEISENBANK PARSBERG EG in VELBURG, Germany. Standardised under ISO 9362 and maintained by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), this code is used exclusively for cross-border wire transfers and is recognised by financial institutions in over 200 countries.

This code must be provided to the sender when receiving money from abroad, and is required by RAIFFEISENBANK PARSBERG EG for all outward international remittances from VELBURG. Without the correct SWIFT code, international transfers to or from this branch cannot be processed.

How to Read SWIFT Code GENODEF1PAY

The code GENODEF1PAY follows the ISO 9362 standard and breaks down as follows:

When to Use SWIFT Code GENODEF1PAY

Receiving International Wire Transfers

To receive money from abroad at your RAIFFEISENBANK PARSBERG EG account in VELBURG, share SWIFT code GENODEF1PAY with the sender along with your full account number, your name as on the account, and the branch address.

NRI Remittances

Non-Resident Indians sending money to NRO/NRE accounts at RAIFFEISENBANK PARSBERG EG, VELBURG must provide SWIFT code GENODEF1PAY. Major remittance platforms — including Wise, Remitly, Western Union, and MoneyGram — use this code to route transfers accurately.

Trade Finance and Foreign Payments

Importers and exporters using RAIFFEISENBANK PARSBERG EG in VELBURG rely on SWIFT code GENODEF1PAY for letters of credit, bank guarantees, and foreign currency settlements.

SWIFT Code vs IFSC vs MICR vs BSR — Key Differences

Need the IFSC code for domestic NEFT, RTGS, or UPI transfers? View the IFSC code for RAIFFEISENBANK PARSBERG EG →

For cheque clearing or NACH mandates, use the MICR code for RAIFFEISENBANK PARSBERG EG →

For TDS challan deposits, find the BSR code for RAIFFEISENBANK PARSBERG EG →

How SWIFT Code GENODEF1PAY Routes an International Transfer

1. Initiation: The sender provides SWIFT code GENODEF1PAY and account number to their bank.
2. Validation: The sending bank validates the BIC against the SWIFT registry.
3. Routing: An MT103 SWIFT message is transmitted through the network to RAIFFEISENBANK PARSBERG EG.
4. Correspondent bank (if needed): An intermediary bank may relay the transfer, adding 1–2 business days.
5. Credit: RAIFFEISENBANK PARSBERG EG receives the SWIFT message and credits the account. Total time: 1–5 business days.

Common Mistakes When Using SWIFT Code GENODEF1PAY

• Spaces or lowercase letters — Always enter GENODEF1PAY uppercase with no spaces.
• Using the wrong city — This code is for VELBURG only.
• Truncating to 8 characters — When 11 characters are required, always use the full code.
• Using SWIFT for domestic transfers — Use the IFSC code for any transfer within Germany.

Data Accuracy

BankZop sources SWIFT/BIC data from publicly available banking registries and official disclosures, updated regularly. For the highest-stakes transactions, always confirm GENODEF1PAY directly with RAIFFEISENBANK PARSBERG EG's VELBURG branch or via the SWIFT BIC Directory.