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VOLKSBANK EG

The Volksbank Group (German pronunciation: [ˈfɔlksˌbaŋk ɡɹuːp], lit. 'People's Bank Group') is a cooperative banking group in Austria, whose central entity is Vienna-based Volksbank Wien AG. It includes seven other regional banks as well as a specialized bank for the health professions in Austria. The group has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.[1][2]

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VOLKSBANK EG SWIFT Code

ID
Country
City
Bank or Institution
SWIFT Code
1
Germany
KRUMBACH
/
VOSADE61
2
Germany
KRUMBACH
/
VOSADE61XXX
  • Total: 2
  • 1

About VOLKSBANK EG

  • Company type
    Private
  • Industry
    Finance and Insurance
  • Founded
    1850
  • Headquarters
    Vienna, Austria
  • Products
    Financial services
  • Number of employees
    4,400 (2015)
  • Website
    www .volksbank .at

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What is a SWIFT code?

A SWIFT code is an 8 or 11 character code used in banking to facilitate transactions and identify the bank.
What is the purpose of a SWIFT code in international transactions?

What is the purpose of a SWIFT code in international transactions?

SWIFT codes are used to route international financial transactions to the correct bank and branch. It facilitates the smooth and accurate transfer of funds between different banks and countries, ensuring that the transactions are processed correctly and securely.

How do I find my bank's SWIFT code?

You can find your bank's SWIFT/BIC code in the statements of your bank account. You can also use our SWIFT/BIC finder to get the right code for your transfer.
How do I find my bank's SWIFT code?

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Frequently Asked Questions

1. Why does VOLKSBANK EG have different SWIFT Codes?

VOLKSBANK EG operates differently across various countries, regions, and branches, with variations in business operations and clearing paths. To accurately identify and process VOLKSBANK EG's cross-border payments and other transactions, different SWIFT Codes are used for distinction. Many large multinational banks have unique SWIFT Codes to their headquarters, regional branches, and overseas subsidiaries to ensure precise and secure fund transactions.

2. How do I know which SWIFT Code of VOLKSBANK EG to use in a transfer?

It depends on the specific business scenario. For cross-border remittance to a branch of VOLKSBANK EG, you can log on to the official website of VOLKSBANK EG, or search the current page of XTransfer, or call VOLKSBANK EG to inquire about the SWIFT Code of the branch. For international business, you should first coordinate with the relevant branch in the target country and confirm the correct SWIFT Code based on the exact information provided by your business partner.

3. Is there any pattern in the composition of different SWIFT Codes for a multinational bank like VOLKSBANK EG?

Usually, SWIFT Code consists of 8 or 11 characters. For VOLKSBANK EG, the first 4 digits represent the bank code, which is the same for VOLKSBANK EG worldwide; the 5th and 6th digits are the country code; and the 7th and 8th digits are the region code, which will be different for branches in various regions. If the code includes 11 digits, the last 3 digits represent the branch code, which is used to distinguish different branches within the same region.

4. Will the SWIFT Code for VOLKSBANK EG be updated or changed?

Yes. When VOLKSBANK EG undergoes an organizational restructuring, such as a branch relocation, merger or split, or when there is a significant change in the financial system of the region where VOLKSBANK EG is located, its SWIFT Code may be updated and changed. VOLKSBANK EG will announce the changes in advance through its official website, mobile banking APP and other channels. Therefore, when handling cross-border business, customers should pay attention to the announcement of VOLKSBANK EG in time to confirm the latest SWIFT Code information, so as to avoid affecting the business.

5. Do different SWIFT Codes of VOLKSBANK EG support the same scope of business?

The scope of business is different. While the same bank can operate with different SWIFT Codes for the same basic types of business, there are differences for some specialized businesses or for businesses in specific regions. For example, the SWIFT Code of some branches may be specialized to support trade finance business, while the SWIFT Code of other branches is more convenient for cross-border e-commerce collection. In addition, for some emerging markets or country-specific business, only the SWIFT Code of a particular branch may have the authority to process it. When conducting international business, it is important to check whether the SWIFT Code of VOLKSBANK EG supports the corresponding business.