How to Check the IFSC code by Bank Account Number?
09 January, 2024
The Indian Financial System Code (IFSC) is an 11-character code unique to bank branches and comprises both alphabets as well as numbers. It is utilised to identify branches of various banks listed in the National Electronics Funds Transfer (NEFT) network and is mandatory for all online fund transfers, including Real-Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS).
With the rise of digital banking, you can make most banking transactions online. IMPS, RTGS, and NEFT are some of the methods commonly used to transfer funds between accounts. The IFSC Code is vital for securing and crediting such transactions correctly, as it helps you identify the recipient branch. Additionally, the IFSC code aids the Reserve Bank of India (RBI) in tracking digital banking transactions.
You must provide the accurate IFSC Code to ensure that your funds are directed to the intended account. If a friend intends to make an online transfer to your account, they may request you to share the IFSC Code to complete the transaction and contrariwise.
How does IFSC work?
When initiating a fund transfer to a specific payee, you have to provide the account number along with the branch specific IFSC code. These details facilitate the accurate and error-free transfer of funds to the recipient.
In addition to fund transfers, the IFSC code plays a crucial role in other financial activities, such as purchasing insurance and mutual funds through online banking platforms.
How to know your IFSC code from your account number?
According to the RBI guidelines, each bank is free to devise its own structure for account numbers. A few banks use branch code as a part of the account number, while others don’t. Your IFSC Code is not determined by your account number. For example, if you decide to shift your branch from Lower Parel to Andheri (West), your account number will remain unchanged. However, the IFSC Code associated with your account will be different.
Therefore, determining your IFSC from your account number alone may not be a viable solution. You can try the following instead:
Check your IFSC on your bank’s chequebook.
Check your passbook or account statement.
Contact your branch.
Visit the bank website and search for your branch’s IFSC (for HDFC Bank customers, the process is mentioned below)
Find your HDFC Bank branch’s IFSC code instantly
HDFC Bank customers can find the IFSC code for their branches using the IFSC code finder tool available here. All you have to do is select your state and city and the tool will display information on all branches your area, including the IFSC code.
Make way for faster online fund transfers by opening an HDFC Bank Savings Account online!
*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.