Find IFSC Code is Expand for (Indian Financial System Code) and represents the 11 digit character that you can usually see on your bank’s cheque leaves, or other bank sponsored material. This 11 character code helps identify the individual bank branches that participate in the various online money transfer options like NEFT and RTGS.
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FAQs:
IFSC or Indian Financial System Code is a 11-digit alphanumeric code that is used to uniquely all bank branches within the National Electronic Funds Transfer (NEFT) network by the Reserve Bank of India.
It is very easy to find the bank name using the IFSC code. The first four characters of the IFSC code represents the bank name. So, if the bank name is ICICI, then the IFSC code will look something like ICIC0001420.
Yes, IFSC code is a unique alphanumeric code.
MICR code is printed on the bottom part of every cheque leaf provided by banks.
No, Swift Code and IFSC Code are not the same. IFSC code is used to transfer funds by payment systems such as IMPS, NEFT and RTGS within India, and Swift Code is used for fund transfer between different banks internationally.
The IFSC code of all accounts in the same branch of the bank is standard. It is an 11 digit alphanumeric code where the first 4 characters of IFSC code represent the name of the bank, the fifth character is 0, and the last 6 numbers define the branch code of the bank You can find the IFSC Code on the cheque and passbook provided by the bank or else you can search for IFSC Code at the respective bank website or at RBI’s website.
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