Doha Bank IFSC Code is a unique 11-digit alphanumeric code allotted by the Reserve Bank of India to each bank and their respective branches. IFSC stands for Indian Financial System Code which is used to facilitate the online fund transfer using NEFT, RTGS or IMPS. The code is used to identify a specific bank branch hence making it easier for the fund transfer process to take place.
Format of Doha Bank IFSC Code
In the 11-digit IFSC code, the first 4 characters represent the bank code, the 5th character is a ‘0’ and the remaining 6 characters indicate a specific branch code. The table below is an example of Doha Bank IFSC Code Kochi, Kerala.
|Doha Bank Code||Zero||Doha Bank’s Branch Code|
Here in the above example (DOHB0000003), the first 4 characters ‘DOHB’ represents the bank code, the 5th character is a ‘0’ and the last 6 characters ‘000003’ indicate the branch code of Kochi, Kerala.
How does Doha Bank IFSC Code work?
The Doha Bank account holders would need the IFSC Code of their branch to carry out online funds transfer via NEFT, RTGS or IMPS. In order to transfer funds, one has to provide details including the name of the payee, beneficiary’s account number, IFSC Code of Beneficiary’s bank branch and the amount to be paid. Once the remitter provides all the required details, he/she can transfer funds online without any chance of discrepancy in the fund transfer process.
How to search for Doha Bank IFSC Code?
The account holders can search for the IFSC Code by following any of the below-mentioned ways:
1. IFSC Code search tool by Paisabazaar: The users can visit the IFSC Code search tool page provided by Paisabazaar. Select the bank name, state, city, and the branch code. The IFSC along with MICR and other details gets displayed on the right-hand side of the page.
2. Cheque Book / Passbook: The account holders can find the IFSC Code on the top side of the cheque leaf, while the MICR Code is printed at the bottom. Also, one can find the IFSC and MICR code on the first page of the passbook provided by the bank.
3. Reserve Bank of India: Both the IFSC and MICR code can be found on the official website of the RBI.
4. Doha Bank Netbanking / Mobile Banking: Users can look for the Doha Bank IFSC Code by logging into the official net banking portal or mobile banking app provided by the bank.
Use of IFSC Code in Banking
IFSC code helps the RBI monitor all the online transactions and help customers to avoid any possible mistakes during the fund transfer process. The use of IFSC code is mandatory in carrying out all electronic or online fund transfer via NEFT (National Electronic Fund Transfer), RTGS (Real Time Gross Settlement) or IMPS (Immediate Payment Service).
NEFT is a payment system facilitating a one-to-one fund transfer. The process of NEFT is based on a deferred arrangement indicating that the money is transferred in different batches.
- No minimum or maximum transfer limit
- Service Timings: 8 am to 7 pm on all working days (except 2nd and 4th Saturdays)
- No inward transaction charges
- Settlement Type: Operates in 23-half hourly batches
In the RTGS system, there is a continuous and real-time settlement of fund transfer. The payments under RTGS are final and irrevocable. Generally, RTGS is preferred for large value transactions.
- No maximum transfer limit
- Minimum transfer value: Rs. 2 lakh
- Service Timings: 8 am to 6 pm on all working days (except 2nd and 4th Saturdays)
- No charges for inward transactions
- Settlement Type: Real-time
The IMPS service provides real-time fund transfer instantly and quickly. This electronic fund transfer service is available 24X7 and is faster than NEFT or RTGS. The service can be accessed via various channels like Mobile, Internet, SMS, ATM, Branch or USSD.
- No minimum transfer limit
- Maximum transfer value: Rs 2 lakh
- Service Timings: 24X7, throughout the year (including bank holidays)
- Settlement Type: Instant
- Charges decided by individual member banks
About Doha Bank
Incorporated in the year 1979, Doha Bank offers both domestic and international banking services for individuals, corporate, commercial and institutional clients. The bank currently has a network of 27 domestic branches, 7 e-branches, and approximately 100 ATMs.