How to Use IFSC Tool?

Askbankifsccode.com provides you options to search any Indian bank branch details by bank name and search by IFSC / MICR code.

Search by Bank Name:

1. Select the bank name from the dropdown in the bank IFSC tool which says “Select Bank Name” or you can select bank from the list below the tool.

2. On selection of bank name, tool will redirect you to the state page where you can see list of states where selected bank branches are present. Now select the state name from dropdown which says “Select State” or click on the state name in the list below the tool.

3. Clicking on state name from list or selecting state name from dropdown will redirect you to the district page where you can see list of districts in selected state where the particular bank has branches. Now select the district name from dropdown which says “Select District” or click on district in list below the tool.

4. Above step will redirect you to the page where you can see list of branches in selected district. Now finally you can select the branch you want view information about from the dropdown which says “Select Branch” or click on the branch name in the list below the tool.

Search by IFSC / MICR Code:

If you have IFSC Code or MICR code of a bank branch, you can directly enter 11 digit IFSC code or 9 digit MICR code in search box at top right any time and view branch IFSC Code, MICR Code, SWIFT Code, Branch Code, Phone Number, Fax Number, Toll Free Number, phone number, Email Id, Address and Website.

SEARCH BANKS IFSC, MICR, SWIFT CODE

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What is IFSC Code?

IFSC Code is a unique 11-digit code that can be used to transfer the fund through NEFT, RTGS and IMPS. It stands for Indian Financial System Code which is a combination of Alphabets and Number each set representing some information about the bank branch. There are 1.5 lakhs+ branch in India and each branch has its own IFSC Code. IFSC Code is a code assigned by the RBI to facilitate the customer as it helps the clearing office to locate the bank easily.

Format of IFSC Code

IFSC Code is an 11-digit code with contains both alphabets and numeric elements. In the IFSC Code, the first 4-digit is the bank code followed by 0 which will be used in the future when more branches will be added, the last 6-digit is the bank branch code.

Where to find the IFSC Code?

IFSC Code can be found in the following places-

  • IFSC Code can be found on the cheque book and passbook
  • IFSC Code can be found on the RBI Official website
  • Bank branches know the IFSC Code so you can ask on call.
  • On Ask Bank IFSC Code you can easily find any bank branch IFSC Code by using the Bank branch locator.

What is MICR Code?

MICR is a short form of Magnetic Ink Character Recognition. This technology authenticates the cheque creditability and defines the legal status of the paper document. It uses a similar technology with barcodes and QR code the difference is that it is in a code which is easily understandable by a human. MICR Technology uses a special ink to print on the cheque. This ink is made of magnetic material when the cheque is inserted in the machine then it detects the Cheque. This eliminates any risk of error while processing the cheque.

Format of MICR Code

MICR code is a 9-digit code that is imprinted in the cheque leaves. The first three digits of the represent the city code where the bank branch is located followed by three digit bank code and the last three digits are branch code.

Where to find the MICR Code?

MICR Code can be found in the following places-

  • Cheque leaf is always printed with the MICR Code.
  • You can use Ask Bank IFSC Code’s MICR Code finder.

What is SWIFT Code?

SWIFT is a full form of Society for Worldwide Interbank Financial Telecommunication, it is also known as BIC Code which is an acronym of Bank Identifier Code. Both of these codes is the same and is unique to every bank. It is an 8 or 11-digit code consist of both alphabet and number. These codes are used to transfer fund all over the world meaning for international fund transfer you need to have a SWIFT Code of the bank where the account holder is maintaining his account.

Format of SWIFT Code

SWIFT Code or BIC Code both of these codes are either 8 or 11 digit number. For 8 digits Code, the first 4 digit is bank code followed by 2 digit codes and last 2 digits is location code. For 11-digit number reset will be similar to the 8-digit number but last 3 digits remaining is the branch code.

Where to find the SWIFT Code?

SWIFT Code can be easily found in the following places-

  • You can call your bank and ask them for the bank SWIFT Code.
  • You can use Ask Bank IFSC Code SWIFT Code finder.

Difference between MICR Code, IFSC Code and SWIFT Code

MICR Code IFSC Code SWIFT Code
9-digit Code 11-digit code 8 or 11 digit code
Unique to bank Unique to bank branches Unique to bank
Used in cheques and other physical bank documents to facilitate the cheque transfer. Used in RTGS, NEFT and IMPS for fund transfer, Used in wire transfer
Used only in India Used only in India Used all over the world

How to use NEFT/RTGS or IMPS for fund transfer?

NEFT

NEFT stands for National Electronic Fund Transfer that is used to transfer fund online as well as offline. It is based on the net settlement meaning all the settlements are done on batches. For using NEFT your bank must be NEFT Enabled which can be checked on the official RBI Website.  Before using the NEFT Payment get the following details-

  • Name and Beneficiary Account Number
  • IFSC Code of the bank branch where the beneficiary has his account maintained.

RTGS

RTGS Stands for Real Time Gross Settlement which is used to transfer amount that is bigger in value. It settles the fund in the similar batch format like NEFT. The Minimum amount that can be transferred via RTGS is Rs.2 lakhs and then there is no maximum amount. RTGS timings for fund transfer are Monday to Friday it is 9:00 AM to 4:30 PM and on Saturday is 9:00 AM to  2:00 PM. RTGS is closed on Second and fourth Saturday, Sundays and public holidays. This system is online as well as offline.

IMPS

IMPS are Immediate Payment Service that transfers fund immediately. The sender and receiver accounts will be credited and debited immediately respectively. This is a 24X7 and 365 days of service used to transfer fund electronically including bank holidays. There is a limit of the amount for transferring fund and it is Rs.2 Lakhs as maximum whereas there is no minimum amount limit. This system can only be used to transfer funds online

How to Transfer Fund using NEFT, RTGS, and IMPS

Offline fund transfer for NEFT and RTGS

Offline fund transfer can be done by visiting the bank branch and filling the NEFT/RTGS Form. The details like bank account number, Name and IFSC Code of the bank.  After correctly filling the form you can simply deposit the form along with cash to the teller. Do not forget to collect the slip of the transaction as it is the proof of the transaction. Offline method to transfer fund can only be used for RTGS and NEFT.

Online fund transfer for NEFT, RTGS, and IMPS

Online Fund transfer is very easy and requires less effort as we can do it from our comfort of home. Online fund transfer can be used for all the three fund transfer methods. It is initiated by following these two steps but if you have already done with the first step then you do not need to follow the first step for a single account. The two-step processes are as follows-

Adding Beneficiary

  • Open your net banking portal
  • Click on the manage beneficiary
  • Add the details like Beneficiary name, Address, account number and transfer limit.
  • Fill the bank IFSC Code of the bank branch of the beneficiary
  • Accept the terms and condition followed by confirming
  • The beneficiary will be added to your account within 30 minutes to 16 hours

Fund transfer

  • Click on the ‘Payments/Transfers’ tab.
  • Select the transfer type to NEFT/ RTGS or IMPS
  • The list of beneficiary accounts added will be displayed.
  • Enter the Amount and select the beneficiary to be credited.
  • Accept the terms and condition and click confirm.
  • Your Payment is done and will be reflected the beneficiary account within 2 hours.

Charges for NEFT, RTGS, and IMPS

NEFT Charges

Amount Charges
Up to Rs.10,000 Rs.2.50
From Rs.10,000 up to Rs.1 lakh Rs.5
From Rs.1 lakh up to Rs.2 lakh Rs.15
From Rs.2 lakh up to 5 lakh - Rs.25
From Rs.5 lakh up to Rs.10 lakh - Rs.50

RTGS Charges

Amount Charges
Between Rs.2 lakh up to Rs.5 lakh Rs.25
From Rs.5 lakh up to Rs.10 lakh Rs.50

IMPS Charges

Amount Charges
Up to Rs.10,000 - 00 - From Rs.2.5
From Rs.10,000 up to Rs.1,00,0 Rs.5
Rs.1,00,000 up to Rs.2,00,000 Rs.15

What is UPI?

UPI is an acronym for Unified Payment Interface that is an interface used to transfer fund without making use of IFSC Code of your bank. The funds transferred by UPI are very fast and is credited in the real-time bases. You can also request money by using ‘collect’ feature. It is developed by (NPCI) National Payment Corporation of India and regulated by Reserve Bank of India (RBI). It is a relatively new technology which uses the Virtual Payment Address VPA that generates a virtual address of your UPI Account and that address becomes a medium of fund transfer.

How to money transfer Using UPI app?

Register on UPI Payment app

There are a lot of UPI Payment app by different vendors you can choose any app platform but the process will be similar

  • Open the app and enter your mobile number this number should be linked with the bank
  • An OTP will be sent to you insert in the field
  • Select the bank where you are maintaining your bank account
  • Choose your Virtual Payment Address(VPI) of your wish
  • Now enter your last six-digit debit card number and expiry date
  • An OTP will be sent to your phone from NPCI insert in the required field
  • Set the 4 digit M-Pin
  • You can now use UPI for Money transfer.

UPI Payment transfer

  • Open your app and select the send option
  • Enter the Number or UPI Address i.e. VPA
  • Now enter amount followed by the bank account number
  • Insert the M-Pin
  • Notification will be sent stating whether the fund transfer is successful or not.

UPI Request Payment

You can request the payment by following these steps-

  • Fill in the details of the payer VPA, Amount and account number
  • On the next screen review your request and confirm it.
  • Payer will get a notification about the request
  • Payer need to accept or decline based on his wish
  • The payment is successful or not will be notified to both payer and payment requester.