Frequently Asked Questions
What is IFSC code?
Indian Financial System Code, commonly known as IFSC code is a 11-digit code in alphanumeric format. It uniquely identifies bank branches in India. First four characters in an IFSC code represents bank name and the last six characters represents the branch code, the fifth characters is zero. This code is used to transfer all electronic payment systems stem applications such as real-time gross settlement (RTGS), NEFT and Centralised Funds Management System (CFMS). This code is mandatory for all electronic transfers. You can find IFSC code for all banks in India on https://www.moneyarbor.com/banklocation/ .
What is MICR code?
Magnetic Ink Character Recognition technology , commonly known as MICR, is a is a 9-digit code that uniquely identifies the bank and branch participating in an Electronic Clearing System (ECS). MICR code is usually printed on cheque leaves. This code is used to identify the issuing branch enabling faster processing of cheques. You can find MICR code for all banks in India on https://www.moneyarbor.com/banklocation/ .
What is SWIFT code?
A SWIFT code is an international bank code that identifies a particular bank worldwide. It’s also known as a Bank Identifier Code (BIC). It consists of 8 or 11 characters. You can find SWIFT code for all banks in India on https://www.moneyarbor.com/banklocation/ .