SWIFT Code GENODEM1RAE — VOLKSBANK RAESFELD EG, RAESFELD

About SWIFT Code GENODEM1RAE — VOLKSBANK RAESFELD EG, RAESFELD

SWIFT code GENODEM1RAE is the official 11-character branch-specific BIC (Bank Identifier Code) for VOLKSBANK RAESFELD EG in RAESFELD, 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 RAESFELD EG for all outward international remittances from RAESFELD. Without the correct SWIFT code, international transfers to or from this branch cannot be processed.

How to Read SWIFT Code GENODEM1RAE

The code GENODEM1RAE follows the ISO 9362 standard and breaks down as follows:

When to Use SWIFT Code GENODEM1RAE

Receiving International Wire Transfers

To receive money from abroad at your VOLKSBANK RAESFELD EG account in RAESFELD, share SWIFT code GENODEM1RAE 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 RAESFELD EG, RAESFELD must provide SWIFT code GENODEM1RAE. 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 RAESFELD EG in RAESFELD rely on SWIFT code GENODEM1RAE 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 RAESFELD EG →

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

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

How SWIFT Code GENODEM1RAE Routes an International Transfer

1. Initiation: The sender provides SWIFT code GENODEM1RAE 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 RAESFELD EG.
4. Correspondent bank (if needed): An intermediary bank may relay the transfer, adding 1–2 business days.
5. Credit: VOLKSBANK RAESFELD EG receives the SWIFT message and credits the account. Total time: 1–5 business days.

Common Mistakes When Using SWIFT Code GENODEM1RAE

• Spaces or lowercase letters — Always enter GENODEM1RAE uppercase with no spaces.
• Using the wrong city — This code is for RAESFELD 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 GENODEM1RAE directly with VOLKSBANK RAESFELD EG's RAESFELD branch or via the SWIFT BIC Directory.