Frequently Asked Questions About IFSC Codes
What is an IFSC Code?
An IFSC (Indian Financial System Code) is an 11-character unique code that identifies a bank branch participating in online money transfers in India. It consists of a bank code (first 4 characters), a "0" (fifth character), and the branch code (last 6 characters).
Why do I need an IFSC Code?
IFSC codes are essential for conducting online banking transactions in India, including NEFT, RTGS, and IMPS transfers. They ensure that your money reaches the correct bank branch and account.
Where can I find my bank’s IFSC Code?
You can find your IFSC code in several ways:
1. On your bank cheque book
2. Through your bank’s net banking portal
3. Using our IFSC finder tool
4. On your bank passbook
5. By contacting your bank branch
Is IFSC Code same for all branches of a bank?
No, each bank branch has a unique IFSC code. While the first 4 characters (bank code) remain the same for a particular bank, the last 6 characters (branch code) are unique to each branch.
What happens if I enter the wrong IFSC Code?
If you enter an incorrect IFSC code, your transaction might fail or get delayed. In some cases, the money might be transferred to a wrong account. It’s crucial to double-check the IFSC code before initiating any transaction.
Can IFSC Code change?
Yes, IFSC codes can change when:
1. A bank branch relocates
2. Banks merge
3. Branch operations are consolidated
It’s important to verify the IFSC code before each transaction.
Are IFSC Codes case sensitive?
Yes, IFSC codes are case sensitive and should be entered in capital letters. For example, "SBIN0005943" is correct, not "sbin0005943".
How is an IFSC Code different from MICR Code?
While both are bank branch identifiers, IFSC is used for online fund transfers (NEFT/RTGS/IMPS), whereas MICR (Magnetic Ink Character Recognition) code is primarily used for processing cheques. IFSC is 11 characters long, while MICR is 9 digits.
Do I need IFSC Code for UPI transactions?
No, UPI transactions don’t require IFSC codes. UPI uses virtual payment addresses (VPA) like yourname@bankname for transfers.
How do I verify if an IFSC Code is correct?
You can verify an IFSC code by:
1. Using our IFSC verification tool
2. Checking on your bank’s official website
3. Contacting your bank branch
4. Verifying through the RBI’s official IFSC directory
Need More Help?
If you couldn’t find the answer to your question, try our comprehensive IFSC finder tool or check our detailed bank-specific guides.