Check Ifsc Codes, Micr Codes

We have taken extra care to make our site as user friendly as possible. As the MICR code is printed with magnetic ink, machines can easily read the code, thus minimizes errors. IMPS is a 24 hours service and it is available on all days including holidays. Though it is a mobile based system, many banks offer this service via ATM and net banking too.

Find Financial Institution Ifsc Code

Basic Statistical Return Code is a seven-digit code given by the Reserve Bank of India to all the registered banks in India. The first three digits out of the seven represent the bank whereas the remaining four digits represent the branch. This system is used to maintain records of the online payments and alerts the Income Tax department about the payment through banks. Magnetic Ink Character Recognition is a printing technology used in the banking industry to print the MICR code. MICR code is a unique 9-digit code allocated by Reserve of India to the bank branches in India which are contributing to Electronic Clearing System .

Check Your Bank Ifsc Code

The last three characters of the code can be digits and letters, and are optional. These last three characters in a SWIFT code are used to give details about the branch code. These codes play an important role in various bank transactions, HDFC bank ifsc code especially when it comes to international transactions. A SWIFT code may also be used by various banks to transfer other messages. The MICR code is usually printed on the bottom of the cheque leaf which facilitates easy processing.

What Is An Ifsc Code?

Please visit the official website for official information regarding IFSC codes. Realizing the potential of net banking, Indian banks are trying to make the process of monetary transactions as accessible and fast as possible. As the fund transfer in RTGS is controlled by Reserve Bank of India , the transactions are unchangeable and hence, it is final. Depending on the transaction amount, the remitter will be applied some charges.

Charges will be applied for transactions and it will differ for each bank. Funds can also be transferred via NEFT in online by using internet banking service. There is no maximum and minimum limit for transactions made in NEFT. Before making any fund transfer, you have to check with the bank whether the IFSC code of the recipient account’s bank branch is correct or not, to avoid any wrong transactions.

SWIFT codes are a combination of various kinds of letters and are used to identify the branch codes of the banks. By using online MICR code finder, you can easily find your bank’s MICR code. To find MICR code, provide your bank’s name, state, district and bank branch. The MICR code will appear along with the details of your bank branch.

Nevertheless, the maximum transaction is limited to Rs. 50,000 per transaction. NEFT is ideal for small and medium amount transfer between bank accounts. In order to transfer funds through NEFT, the remitter should have beneficiary’s details such as name, bank name, account number and IFSC code. These digits are based on the state, district, city and branch of the bank.

IFS Codes are used when processing bank account payments in India. This is applicable to the half-yearly Returns on Advances from all branches of the bank on the last Friday of June and December. It is in two parts; Part I is for accounts with limits over Rs.10,000 and Part II is for accounts with limits below Rs.10,000. The next two characters can be a mix of both numbers and letters. All the information published on this website is strictly for personal use and should never be used without verification, on any kind of transaction.

This is done quarterly and is applicable for the Survey on Aggregate Deposits and Gross Bank Credit by head offices of the bank on last Friday of June, September, and December, and on March 31.