IFSC Code Tools

What is the IFSC Code?

Here is the IFSC full form - Indian Financial System Code. It is a unique 11-digit alpha numeric code allotted by RBI to specific bank branches in India as per their specific address.

You can think of it as the special address of the bank branch, just like our home has a special address. Each bank has a different IFSC code, as it helps to identify a specific bank on various online platforms used for electronic money transfers counting NEFT (National Electronic Fund Transfer), RTGS (Real Time Gross Settlement), & IMPS (Immediate Payment Service). This is a mandatory code that you need while sending money to someone using net banking.

You need it while you’re sending money from one bank account to another bank account, other online payments, setting up automatic bill payments, and other online transactions. Even if you wish to send an X-amount to someone’s bank account, you will need to know their bank’s IFSC code and account number. The comforting prospect is that it ensures that money reaches the right branch of the bank.

“The first four characters are “alphabets” which shows the name of the bank, the fifth character is always zero, while the last six characters are “numerics” which indicates the specific branch address”

If you don’t know yours, you can use IFSC Code search tool or IFSC code finder and save your time while getting accurate code.

What is the Importance of the IFSC Code?

Here is why IFSC code brings light into certain areas,

Unique Branch Identification: Each bank in India holds a unique IFSC code to ensure that online transactions are routed to that particular bank.

Facilitates Electronic Transactions: IFSC code number allows you to make online transactions within the country including NEFT, RTGS, and IMPS.

Reduce Errors and Frauds: RBI uses a standardized code system that reduces the chances of errors and fraud in electronic transactions.

Verification of Payee Details: When you’re making a transfer, especially to a new recipient, the bank's IFSC code ensures that you’re sending money to the right account.

Key Features of IFSC Code.

• Consisting of a Unique 11-digit alphanumeric code.
• It is used for identifying the particular bank branches.
• Created 4 components: bank code, branch code, zero, and checksum digit.
• Mandatory for NEFT, RTGS, and IMPS transactions in India.
• Allows e-fund transfers and online transactions.
• It guarantees accuracy and security in e-transactions.
• This prevents errors in routing funds to the wrong destination.

"Gen Z and Millennials rely on net banking like superheroes need their powers, and just like a secret code, IFSC is the key that makes it work”

Features That Mybankdetail Provide to Find the IFSC Code.

If you want to find IFSC code, MyBankDetail offers three options, have a look at it,

Search IFSC Code by Bank:

Learn how to search IFSC Code of the Bank:

Step 1 - Select the Bank Name

Step 2 - Select the State

Step 3 - Pick up the City

Step 4 - Choose the Branch

And You’ll get your IFSC Code details on your screen.

Validate IFSC Code:

Learn how to check IFSC Code,

Step 1 - Enter the IFSC code that you already have.

Step 2 - Click on Submit.

Step 3 - Once you submit, you will get each and every geographical detail of the bank counting, MICR number, bank name, branch, address, city, district, state, and contact.

Browse Bank for IFSC Code:

You will be given a list of the banks, and you will have to select your bank from the list to know the IFSC code of your bank branch. This is how you can find all bank IFSC code easily.

Methods to Transfer Money Using IFSC Code.

The first thing is that online fund transfer is possible through 3 main payment services namely RTGS, NEFT, and IMPS which mandate IFSC code requirements. Just note that RBI has brought NEFT and RTGS into existence while NPCI (National Payments Corporation of India) introduced IMPS. There are three sorted ways to send money to your receipts using IFSC code, have a look at how,

Difference Between IFSC Vs. MICR.