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What is an IFSC Code?

IFSC Code or Indian Financial System Code (IFSC) is an 11-character unique alphanumeric code allotted to each different bank branchs in India. It ensures that fund transfer is processed accurately by systems such as NEFT, RTGS, and IMPS.

Importance of an IFSC Code

1. Accuracy: It Ensures that your money is transferred or not to the correct bank branch.
2. Speed: Facilitates quick electronic transactions between different banks.
3. Security: Minimizes frauds and risk of errors in transactions between two persons.
4. Versatility: It Supports more than one electronic payment systems which includes NEFT, RTGS, and IMPS.

Format of an IFSC Code

It's an 11-character alphanumeric code and it's breakdown is as follow:

Component	Characters	Description
Bank Code	4	Represents the bank's name.
Branch Identifier	1	Always '0' (zero), serves as a placeholder.
Branch Code	6	Identifies the specific branch.

Example: SBIN0001234

• SBIN: State Bank of India
• 0: Placeholder
• 001234: Specific branch code

How It Works

1. Initiation: Enter the IFSC code while making an electronic transfer.
2. Routing: The system uses the IFSC code to route the transaction to the correct branch.
3. Processing: The branch processes the request and credits the recipient’s account.
4. Confirmation: Both parties receive notifications confirming the transaction.

How to Know the IFSC Code

• Bank Website: Visit the official bank website for a list of branch IFSC codes.
• Passbook/Statement: Check your bank passbook or account statement for the IFSC code.
• Bank Branch: Contact your bank branch directly for the IFSC code.

How to Search for an IFSC Code for a Bank Branch

1. Visit Our Search Tool: Use our IFSC code search tool to find the code quickly.
2. Enter Bank Details: Input the bank name and branch location.
3. Get Results: Obtain the IFSC code and other details instantly.

What is MICR?

MICR or Magnetic Ink Character Recognition is a set of technology which is used to verify the authenticity of paper documents, such as cheques to minimize the frauds. It involves printing characters with magnetic ink to facilitate the automated processing of documents

Locate IFSC and MICR on a Cheque

• IFSC Code: Typically found at the top right corner of the cheque.
• MICR Code: Printed at the bottom of the cheque, preceding the account number.

Difference Between IFSC and MICR

Feature	IFSC Code	MICR Code
Purpose	Identifies the bank branch for electronic transactions.	Verifies authenticity and facilitates cheque processing.
Format	11 characters (alphanumeric).	9 digits (numeric).
Location on Cheque	Top right corner.	Bottom of the cheque, before account number.

How IFSC Code Helps to Transfer Money

The IFSC code ensures that electronic funds transfers are directed to the correct bank branch. By providing a unique code for each branch, it:

• Prevents Errors: Reduces the risk of funds being sent to the wrong branch.
• Speeds Up Transactions: Facilitates faster processing of payments.
• Enhances Security: Ensures transactions are routed through secure channels.

Use our IFSC code search tool to find the correct codes and make your transactions with confidence!