Do you want to check which bank does a IFSC code belong to? Use our search IFSC code feature to check the IFSC code or bank details before making a NEFT or RTGS transfer to a bank account.
IFSC Code Search
A.: The full form of IFSC is Indian Financial System Code.
A.: 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.
A.: 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.
A.: MICR stands for Magnetic Ink Character Recognition. It is a special ink that is sensitive to magnetic fields. It is printed on the bottom of a cheque.
A.: MICR is a technology that helps in verifying the originality of cheques or other paper documents. It is used mainly by banks to process cheques faster. The MICR code helps RBI in identifying the bank branch.
A.: You can transfer money from one bank account to another through online mode using methods like National Electronic Fund Transfer (NEFT), Real-time Gross Settlement (RTGS), Immediate Payment Service (IMPS), and Unified Payment Interface (UPI).
A.: No, the IFSC and SWIFT codes are not the same. IFSC is used for transferring funds within India, while SWIFT code is used for transferring funds at an international level. Moreover, SWIFT is a bank identifier code while IFSC is used to identify a specific bank branch.
A.: No, if the location of a bank’s branch is changed, then the IFSC code will not change. If the bank account is shifted from one branch of the bank to another, only then will the IFSC code be changed.
A.: No, IFSC code is not the same as branch code.
A.: IFSC code is generally present on the top part of every cheque leaf or near the bank branch address.
A.: IFSC code is required for IMPS only if the individual is transferring money using bank account number. If the receiver’s MMID is not available, then he/she needs to add the receiver as a payee, for which details such as bank account number, name, and IFSC are required.
A.: MICR code is printed on the bottom part of every cheque leaf provided by banks.
A.: Yes, IFSC code is a unique alphanumeric code.
A.: No, it is not possible as the 15-digit long savings bank account number does not include the bank’s IFSC code.
A.: There is no need to panic as for a NEFT transaction to go through and benefit the intended recipient, you are required to provide the latter’s account number and the corresponding bank’s IFSC code. In case you provide wrong IFSC code, the system with tally against the recipient's name and account number to identify the mistake and refund the money. The refund will be highlighted in your account within a couple of hours at the maximum.
A.: Yes, you can access the IFSC code from the bank passbook. As per a directive from the Reserve Bank of India, banks must print the IFSC and MICR codes prominently on the passbooks, account statements and cheques issued by them.