IFSC Code is a unique 11-digit alphanumerical code that is assigned by Reserve Bank of India or RBI to each bank branch respectively to participate and to monitor online fund transfer of money.

You might have been come across to use of the IFSC Code especially while the online transfer of money by National Electronic Fund Transfer or NEFT, Real Time Gross Settlement or RTGS and Immediate Payment System or IMPS, these cannot be made possible without valid IFSC Code. 

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What are the Features of IFSC Code?

Easy and convenient online transfer of funds through NEFT, RTGS and IMPS. Monitored online transactions. Has unique identification codes that avoids confusions. Secure transactions and eliminating errors of any fraudulent activities during online money transfers. 

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What is the format of IFSC Code?

• The IFSC Code has 11 characters.
• First 4 characters of the code represents bank code.
• 5th character is a ZERO (0)
• The remaining 6 characters are bank branch code.

What is the Significance of IFSC Code?

• As it is a unique code helps to avoid errors and makes easy transactions.
• Saves time, customers need not to visit the bank for fund transfer, with this code fund transfer can be easily done via online.
• It is completely secured as it is monitored by RBI.

What is the process to use IFSC Code?

• For Electronic Fund Transfer by providing beneficiary bank account number, branch name of the bank and IFSC Code. • For making Credit Card Bill Payment, by using IFSC the bill payments can be made via tablets, mobile phones, laptops, etc.