Technology these days has come so far that we are transferring money online from one account to another in a matter of minutes. These transactions, however, come with their own security concerns. Thief of money and online frauds are not uncommon. Recent ransomware attack like WannaCry very well exemplifies the point.
But of course, there are safer ways for transactions. When it comes to online fund transfer, you will have to follow a certain procedure and provide a couple of information like the IFCS code or the Indian Financial System Code. It’s one of the security features that help make sure your money is going where you want it to go.
What is IFSC Code?
IFSC is an acronym for Indian Financial System Code and is a unique code of the branch of the bank. As you may have figured out by now, the IFSC code changes from branch to branch even of the bank is same. A typical IFSC code consists of 11 characters and has the name of the bank in the first four letter followed by the character 0.
Some of the systems using which you can make online payment are RTGS (Real-Time Gross Settlement), NEFT (National Electronic Funds Transfer), and IMPS (Immediate Payment Service). These electronic payment systems allow the monetary transfer, and they require IFSC Code. It’s a mandatory part of the procedure.
However, it’s worth noting that the IFSC code is only required when you wish to do domestic transactions. For transferring funds outside of the country, you will require a different set of code which is called the SWIFT code. It’s a unique identification code of public, private or foreign banks.
How to find the IFSC of Allahabad Bank Branches?
Step 1: Go to findyourbank.in on your web browser.
Step 2: You should be able to see a search box. Click on it to see a drop down list and select Bank Name as “Allahabad Bank”.
Besides the bank name, you will need to select a couple of other options like a branch, district, and state. You can get all these information from the passbook or cheque book. Hit enter when you are done.
Step 3: Here I am going to find IFSC Code of Allahabad Bank, Patna Main Branch. For that, I have selected the state as “Bihar“, district name as “Patna” and Branch as “Patna Main” Branch.
The result screen is as shown below:
Using this same procedure, you can get IFSC codes of other banks. Just follow any of the two methods that we have mentioned above. We hope that the guide was easy for you to follow but in case you have more questions on the matter, don’t hesitate to reach out to us.