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Is branch code the same as IFSC code?
IFSC code is not the same as branch code. IFSC (Indian Financial System Code) consists of eleven characters and is used to identify the bank and its branch. While the branch code is a part of the IFSC code, it is not the same.
What is difference between branch code and bank code?
Bank code is always a 3-digit number. Branch code is also always a 3-digit number. The account number is 6 to 9 digits, and some banks include the branch code in the account number they provide to their clients.
What is branch code example?
In an IFSC code, the first 4 digits of the IFSC represent the bank and last 6 characters represent the branch. The 5th character is zero. For example, the IFSC code of the SBI branch at 23, Himalaya House, Kasturba Gandhi Marg, New Delhi 110001, is SBIN0005943. Here, 005943 is the branch code.
Is branch a code?
A branch code is a unique identifying code for a given branch of a bank. Each branch of a bank is differentiated by its branch code. These branch codes are known by various different names across the globe.
Will money get transferred if IFSC code is wrong?
“If the incorrect IFSC code refers to a wrong branch of the same bank, then the fund transfer could still be possible. Remember, all banks may not match the beneficiary name before making the fund transfer, so if the account number matches, the transaction will go through.
Is sharing IFSC code safe? IFSC code is required for online fund transfer in India. The unique code provided to each bank reduces the chances of errors while transferring funds and ensures the safety of online transfer. You don’t need to worry while using IFSC code as no one can misuse the IFSC code for theft or fraud.
Can I find IFSC code with account number?
Find IFSC code by Account Number? Yes, you can find the IFSC code with the account number. IFSC codes are allocated to bank branches and not to personal or other accounts. If you know the name of the bank and it is the code of the branch then you can find its IFSC code.
How can I know my HDFC IFSC code?
Cheque leaf: To find IFSC code of your branch, the simplest way is to refer to your cheque book. The full address of the branch is mentioned at the top left corner of a cheque leaf. At the end of the address, you will find an 11-digit code. This is your IFSC Code.