SWIFT Code GENODES1MAG — VOLKSBANK MAGSTADT EG, MAGSTADT

About SWIFT Code GENODES1MAG — VOLKSBANK MAGSTADT EG, MAGSTADT

SWIFT code GENODES1MAG is the official 11-character branch-specific BIC (Bank Identifier Code) for VOLKSBANK MAGSTADT EG in MAGSTADT, 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 VOLKSBANK MAGSTADT EG for all outward international remittances from MAGSTADT. Without the correct SWIFT code, international transfers to or from this branch cannot be processed.

How to Read SWIFT Code GENODES1MAG

The code GENODES1MAG follows the ISO 9362 standard and breaks down as follows:

When to Use SWIFT Code GENODES1MAG

Receiving International Wire Transfers

To receive money from abroad at your VOLKSBANK MAGSTADT EG account in MAGSTADT, share SWIFT code GENODES1MAG 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 VOLKSBANK MAGSTADT EG, MAGSTADT must provide SWIFT code GENODES1MAG. 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 VOLKSBANK MAGSTADT EG in MAGSTADT rely on SWIFT code GENODES1MAG 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 VOLKSBANK MAGSTADT EG →

For cheque clearing or NACH mandates, use the MICR code for VOLKSBANK MAGSTADT EG →

For TDS challan deposits, find the BSR code for VOLKSBANK MAGSTADT EG →

How SWIFT Code GENODES1MAG Routes an International Transfer

1. Initiation: The sender provides SWIFT code GENODES1MAG 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 VOLKSBANK MAGSTADT EG.
4. Correspondent bank (if needed): An intermediary bank may relay the transfer, adding 1–2 business days.
5. Credit: VOLKSBANK MAGSTADT EG receives the SWIFT message and credits the account. Total time: 1–5 business days.

Common Mistakes When Using SWIFT Code GENODES1MAG

• Spaces or lowercase letters — Always enter GENODES1MAG uppercase with no spaces.
• Using the wrong city — This code is for MAGSTADT 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 GENODES1MAG directly with VOLKSBANK MAGSTADT EG's MAGSTADT branch or via the SWIFT BIC Directory.