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What is a Bank Code?

A Bank Code is a one of a kind recognizable proof code for a specific bank. These codes are utilized while exchanging cash amongst banks and furthermore can be accustomed to trading different messages between them. The code can be partitioned into worldwide bank codes, for example, SWIFT codes and nearby or particular nation bank code. Cases of nearby bank code are BSB Number, Sort Code and Routing Number. Neighborhood bank codes are overseen by a national bank, a bank supervisory body or a Bankers Association in a nation. The bank code is then doled out to all its authorized part banks or budgetary organizations. The code rules fluctuate, as it were, between the nations. Since the presentation of International Bank Account Numbers (IBAN), the nations which utilize IBAN, have for the most part incorporated their neighborhood bank code into the prefix of indicating IBAN account numbers.

Importance of IFSC code

Unique Identification

It helps in identifying a particular bank branch.

Electronic Payments Made Easier

It used in electronic payment tools such as RTGS, IMPS, and NEFT. Format for Bank IFSC Code

Elimination Errors

It helps to eliminate any discrepancy in the fund transfer process.

What is the use of IFSC?

An IFSC code is used by the Indian financial system to facilitate online and electronic transfer of money. It is the IFSC code of a bank which enables it to help people with NEFT and RTGs.

IFSC Code Pattern

In an IFSC code, the first four characters are alphabets which denote the bank name. Hence, the IFSC code of each branch of the same bank will begin with the same four letters. The fifth character is a zero. The remaining six characters are digits or numbers which denote the branch code. This is the part which makes an IFSC code unique.

How to know the IFSC Code?

It is simple. If you have an account with any branch of any bank, you will automatically get to know its IFSC code as it is printed on the passbook. However, if you want to know the code without creating an account, you can do so via the internet. There is an official website of IFSC code where you can know all about this code.

Browse IFSC codes from Banks Listed Below