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What is an IFSC code?

IFSC stands for Indian Financial System Code and portrays the 11 digit character that can be found on the bank’s cheque leaves or online. It is mandatorily assigned by the RBI to every bank branch to help identify and monitor the individual bank branches that participate in various online money transfers like NEFT and RTGS.

Uses of an IFSC Code

An IFSC code is a unique code assigned to each individual bank branch in the country. The Indian Financial System Code, having 11 characters, is a combination of English alphabets and numbers. It consists of three segments. The English alphabets usually represent the name of the bank followed by the digit ‘0’ which is for future use and finally ending with 6 digit numbers indicating particular branch. Here is an example:

SCBL0034767 - IFSC Code for a Standard Chartered Bank branch:

  • First four alphabets - SCBL – means the name of the bank (this is for Standard Chartered Bank)
  • 0 - For future use
  • 034767 - shows a particular branch of Standard Chartered Branch.

Where is it used?

Whenever you transfer funds online through any of the money transfer facilities— national electronic fund transfer (NEFT), real time gross settlement (RTGS) and immediate payment system (IMPS), you will have to provide the IFSC code of your bank account. If you are using a net banking facility to buy mutual funds or insurance, you will definitely need the IFSC code.

IFSC code helps the National Clearing Cell of the Reserve Bank of India in identifying the particular branch of the bank and in executing the transaction without any hassle. You dont have to do any paperwork or wait for long periods to transfer money from one bank account to another. With IFSC code financial transactions through NEFT and RTGS are fast, simple and transparent.

What is MICR code?

Apart from IFSC Code, there is also something called MICR code. This code is printed using Magnetic Ink Character Recognition Technology (MICR) on cheques. It is a 9-digit code that identifies the branch of the bank that participates in the Electronic Clearing System (ECS).

Standard Chartered Bank MICR Code Format

The first 3 digits represent the city code, the middle 3-digits represent the bank code and the last three digits represent branch code.

How to search for Standard Chartered Bank’s IFSC and MICR code?

Since Standard Chartered Bank branches are NEFT and RTGS enabled, which means that if you are their customer then you can transfer funds electronically using these methods. You need to simply fill out the relevant form filling in details of your bank account including the IFSC. The IFSC and MICR code can be found printed on a cheque book issued by the particular branch of Standard Chartered bank and it can be also found easily online.

You can find IFSC on the official website of Standard Chartered, on the official website of Reserve Bank of India or on a third party financial website like CreditMantri. The process is quite simple and easy, just follow the steps below

Step 1: Visit CreditMantri Website and go to IFSC code page

Step 2: Select the state, district and branch

Step 3: You will now find the IFSC Code, MICR code, branch address and contact number

The Standard Chartered Bank IFSC code is also printed on cheques issued by the bank branch. In case you do not have access to the internet, you can also call the Standard Chartered Bank customer care and ask for the IFSC code of a particular branch or walk in to any nearest Standard Chartered Bank branch and ask for the details.

How to transfer money using Standard Chartered Bank NEFT and RTGS?

Any customer of Standard Chartered Bank can make use of the NEFT and RTGS facility to transfer funds from any of the Standard Chartered Bank branches to any other bank branch around the country.

National Electronic Funds Transfer (NEFT):

The National Electronic Funds or NEFT Transfers acts on Deferred Net Settlements. NEFT is supposed for smaller amounts of transfer than that of RTGS. The transfers are resolved in batches on an hourly schedule. As long as you have debited the quantity within the said time thats stipulated by the bank, itll be credited to the beneficiary on an equivalent day. If not, the quantity is going to be credited on the subsequent working day.

You will need the subsequent information to use NEFT service at Standard Chartered Bank:

  • The name of the receiver
  • The name of the receiver’s bank and branch
  • The receiver’s account number
  • The IFSC code of the receiver’s bank branch
  • The amount to be transferred

This service of using NEFT to do financial transfers can be availed free of cost by Standard Chartered Bank’s customers.

Real Time Gross Settlement System (RTGS):

Real Time Gross Settlement System (RTGS) transfers funds on an individual basis which means that the clearance of funds are scheduled not batch-wise but individually. RTGS is one of the fastest and safest ways to transfer funds. Standard Chartered Bank ensures that each one the transactions are going to be completed on an equivalent day that the customer debits the fund, unless its been done after the indicated time frame.

You will need the subsequent information to use RTGS service at Standard Chartered Bank:

  • The receiver’s name
  • The receiver’s bank and branch name
  • IFSC Code of the receiver’s bank
  • The transfer amount
  • The receiver’s account number
  • A remark for the receiver, if any

RTGS facilities are often used for free of charge by Standard Chartered Bank customers.

About Standard Chartered Bank

Standard Chartered Bank is a public Limited Company based on London. In 1969 two banks (‘The Chartered Bank of India, Australia and China’ and ‘Standard Bank of British South Africa’) were merged to make the establishment ‘Standard Chartered Bank’. The bank was established in 1969 in London. Today it operates over 1,200 branches and outlets (including subsidiaries, associates and joint ventures) across more than 70 countries.

The establishment employs around 87,000 people. The bank operates in consumer, corporate and institutional banking and also treasury services. Although the bank has its headquarters in the UK, Standard Chartered does not conduct retail banking in the UK. Almost, 90% of its profits come from Africa, Asia and the Middle East. Standard Chartered Bank provides all services for all financial needs including Credit cards, Consumer banking, corporate banking, Investment banking, Mortgage loans, Private banking, Wealth management and much more.


1. Why is IFSC used?

IFSC code is used by EPS applications such as NEFT, RTGS, CFMS. No financial transfers from one bank branch to another can happen without this code.

2. How to search for a bank name by IFSC code?

The IFSC code consists of 11 digits of alpha-numerical values. The alphabet in the beginning of the code is the bank name. Eg: SCBL indicates Standard Chartered Bank.

3. How do I find my branch IFSC code?

Any bank’s IFSC code can be found either through the banks cheque leaves or online via official website and or third party website such as CreditMantri.

4. How many digits are there in IFSC code?

There are a total of 11 digit alpha-numerical values in an IFSC code and every code is unique.

5. Is the IFSC code the same as IBAN number?

No, IFSC and IBAN are not the same. IFSC is only applicable in India whereas IBAN is used as an international bank account number. Also IBAN is not applicable in India.

6. Is the IFSC code required for international transfer?

No, IFSC code is not required for international transactions. It is only needed for transfer of funds within the country.

7. Can I transfer money without IFSC code?

If you are transferring money within the country then IFSC is mandatory otherwise for international transfer we should SWIFT code.

8. How can I transfer money using IFSC code?

Login to your bank website

  • Click on Payments and Transfer
  • Select Transfer to Other Bank Account across India
  • Select IMPS-IFSC and Payee from List of registered Payees
  • Enter details like Transaction amount, Transaction remarks
  • Click on Next
  • Enter Your ATM/Debit Card Grid and One Time Password (OTP) to complete your transaction.
  • Your transaction gets completed & your payment confirmation number will be displayed on screen.
  • You will also receive an SMS informing you about the relevant status.

9. How do I find my credit cards IFSC code?

You can easily access your credit card IFSC code either through the bank’s official website or you could just contact the bank to get code.

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