Structure of an IFSC code
- The First Four Characters: These represent the bank’s name. For example, “HDFC” for HDFC Bank or “ICICI” for ICICI Bank.
- The Fifth Character: This is always a zero (0) and is reserved for future use.
- The Last Six Characters: These identify the specific branch of the bank.
Importance of IFSC Code
- Electronic Funds Transfer: IFSC codes are crucial for initiating secure electronic fund transfers, ensuring accurate routing to the recipient’s bank branch.
- Online Transactions: In online transactions, IFSC codes uniquely identify bank branches, facilitating error-free and precise money transfers.
- NEFT and RTGS Transactions: IFSC codes are mandatory for NEFT and RTGS transactions, enabling seamless interbank transfers with precision and efficiency.
- IMPS Transactions: For Immediate Payment Service (IMPS), IFSC codes are essential to specify the recipient’s bank branch, ensuring real-time fund transfers.
- Bank Verification: IFSC codes aid in verifying the authenticity of bank details during transactions, preventing errors and ensuring funds reach the intended destination accurately.
Search by IFSC Code
Check which bank an IFSC code belongs to by inputting your IFSC code of the bank Use this Search by IFSC code feature and double-check the IFSC code before making a NEFT or RTGS transfer to a bank account.
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