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While sending money through NEFT, RTGS or IMPS, it is mandatory for anyone to enter the 11 digit IFSC code along with the bank account number. Due to lack of correct information, many times people get worried just by seeing the account number.
What many people don’t know is that a bank account number alone never constitutes an IFSC code, because the account number identifies the customer, while IFSC identifies the bank branch. To find the correct code of any bank, it is necessary to know the name of the bank and the city of its branch. With these basic information there are 7 very easy and reliable methods to get the correct code in just 1 minute.
What is IFSC code and how is its 11 digit structure formed?
The full name of IFSC is ‘Indian Financial System Code’. It is a unique code consisting of 11 letters and numbers, which is allotted by the Reserve Bank of India (RBI) to every bank branch involved in electronic fund transfer. This code ensures that your sent money reaches the account of the right bank and the right branch without any mistake.
The structure of this 11 digit code is very easy to understand:
First 4 characters: These are English letters which directly show the name of the bank.
Fifth digit: It is always zero (0), which is reserved for future technical use.
Last 6 digits or letters: This number identifies the particular branch (location) of that bank.
If a bank has thousands of branches across the country, then the first four letters of all of them will be the same, but the last 6 digits will be completely different for each branch.
What is the basic difference between IFSC and MICR code?
Often people consider IFSC and MICR codes written on check books to be the same, whereas the functions of both are completely different:
IFSC Code (11 characters): It is used for electronic transfers in online banking, mobile apps, NEFT, RTGS, IMPS, mutual funds and insurance payments.
MICR Code (9 digits): Magnetic Ink Character Recognition is a 9 digit code printed with special magnetic ink at the bottom of the cheque. It is used only for fast and accurate clearance of paper checks deposited in banks.
7 easy ways to get IFSC
1. See the first page of the bank passbook or account statement
This is the oldest and easiest way to find the IFSC code of your branch. On the first page of the printed passbook issued by the bank, the name and account of the account holder along with the complete address of the branch and the 11 digit code are written in clear letters. If you use e-statements, this information also appears at the top of the PDF statement you receive in your email.
2. Check your check book leaf
If you have a check book, you don’t need to go anywhere. The 11 digit IFSC code is printed on the top left corner of every check page, just near the bank name and branch address. The check book is always issued by the concerned home branch, hence the code written on it is completely correct and valid for your account.
3. Use of Net Banking and Mobile Banking App
If you do not have a passbook or check book, then login to the bank’s official mobile app or internet banking portal on your smartphone. There go to the section ‘Account Summary’, ‘My Profile’ or ‘Account Details’. There your home branch name and 11 digit code will be visible on the screen along with your account balance.
4. Branch Locator Tool on the official website of the bank
The option of ‘Branch Locator’ or ‘IFSC Finder’ is available on the official websites of all government and private banks of the country.
- Go to the homepage of the official website of the bank.
- Select your state, district, city and branch area.
- As soon as you click on search, the complete address, pin code and correct IFSC code of that branch will appear on your screen.
5. Search from the official portal of Reserve Bank of India (RBI)
The Reserve Bank of India maintains an official database of codes of all commercial and rural banks in the country.
- Visit the ‘IFSC/MICR Directory’ page available on the official website of RBI.
- There select your bank name from the drop-down menu and type your branch name.
- This government portal will immediately show you the list of certified and completely secure codes.
6. Bank’s Authorized SMS Banking Service
Many banks also provide branch information to their account holders through simple text messages. For this, SMS has to be sent in a prescribed format from the registered mobile number of the bank. The bank’s system verifies your registered number and sends your branch name and code in a reply message within a few seconds.
7. Call bank customer care or visit home branch
If digital channels do not work, call your bank’s official toll-free customer care number. Speak to the customer care executive by selecting your language in the IVR menu. You will be asked basic questions related to name, date of birth and account as security, after which they will tell you the correct code. Apart from this, you can also get this information from the helpdesk by visiting the nearest branch.