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List of IFSC code, MIRC code and addresses of all banks in India
The Indian Financial System Code (IFS Code or IFSC) is an alphanumeric code which is necessary while transferring funds between bank accounts in India. The code is unique to each bank branch participating in Indias three main payment and settlement systems: Real Time Gross Settlement (RTGS), National Electronic Fund Transfer (NEFT) and Immediate Payment Service (IMPS).
The IFSC code is made of 11-characters; The first four are alphabetic characters representing the bank name, and the last six characters (usually numeric, sometimes alphabetic) represent the branch. The fifth character is 0 (zero) and is currently reserved for future use. Bank IFSC Code allows the NEFT & RTGS systems to direct the messages to the destination banks/branches. A normal format of the IFSC Code looks like this
IFSC is issued by the Reserve Bank of India to all the banks and respective branches. It is an important factor required to transfer money from your bank account to another bank account. You can transfer money to another bank using NEFT, IMPS or RTGS. All these 3 methods require the IFSC code of the recipient’s bank account so that the money is transferred to the correct account number in the correct branch.
IFSC code gained importance with the introduction of Internet Banking. Previously, MICR code, printed on cheques or demand drafts was used to identify the correct bank branch where the amount needs to be credited. With internet money transfers gaining traction, IFSC code became prominent in the digital banking system for convenient money transfers.
City Union Bank Limited (CUB) is an Indian bank with its headquarters in Kumbakonam, Tamil Nadu. CUB offers a number of financial & banking services, including net banking, mobile banking, self-service kiosks, and sales points. The bank provides a wide variety of savings and investment options to suit consumer demands from many different walks of life. It also provides various credit options for the financial needs of both small and large consumers. As per latest records, the bank has 700 branches and 1762 ATMs with a gross market capitalisation of Rs.1.5 lakh crores in FY2016 (USD 1.8 billion).
CreditMantri helps you find the IFSC Code of any bank branch in a jiffy! It has many other information pertaining to any bank for your perusal. When you login to CreditMantri, you get a one-stop solution for all your banking queries.
Here are the steps to find the IFSC Code of CUB Bank Branches:
It shows all the important details pertaining to the bank for your convenience.
City Union Bank has branches all over India. It allows its customers to use internet banking facilities to transfer funds to other bank accounts through NEFT, IMPS & RTGS. Using an IFSC code has many advantages:
The IFSC Code of all CUB Branches is available on the CUB Website. Here are the steps to find the IFSC Code you are looking for:
Money transfers through Netbanking is very simple. You just need the recipients account number and branch to initiate a fund transfer.
1. What is the benefit of IFSC Code?
IFSC Code enables you to transfer money between bank accounts. It ensures that the money is transferred to the correct account in the correct branch. It also makes money transfers fast and instant.
2. What format is the IFSC Code generally?
3. Is the IBAN number and the IFSC Code same?
IBAN number is your International Banking Account number. It is used for international money transfers only. Whereas, IFSC Code is used for domestic bank transfers. They are not the same.
4. Can I transfer money without IFSC code?
The answer is both yes and no. In order to transfer money via Netbanking, IFSC code is needed. Netbanking allows you to transfer money via NEFT, IMPS & RTGS. However, in recent years, UPI money transfers or e-wallet money transfers have gained popularity. These methods only consider the mobile number linked to yours and the recipient’s bank account, and hence does not require the IFSC for a bank to bank money transfer.
5. How can I transfer money using IFSC code?
It’s very simple to transfer money through your Netbanking account with the help of IFSC:
6. What will happen if I enter an incorrect IFSC while transferring money?
The chances of making an error with the IFSC code are less as the page will display the branch details once you enter the IFSC Code, while adding the payee. In spite of that, if you have entered an incorrect IFSC Code, the transfer will match the account number of the recipient and send the money to that account. The chances of a bank having the same account number in two different branches is slim and hence the money will land in the correct account eventually. However, it is imperative that you double check the IFSC Code before initiating the transfer.
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