Allahabad Bank IFSC is a unique code having 11 characters that are alphanumeric in nature. This code is used for electronic payments via various payment systems and acts as an essential part of banking operations. It is uniquely allocated to each bank branch of Allahabad Bank.
Features of Allahabad Bank IFSC
- IFSC is developed by the RBI
- IFSC stands for Indian Financial System Code
- IFSC is formed of 11-digits
- No two branches can have the same IFSC
Allahabad IFSC Code Format
|Bank code||Zero||Branch code|
Allahabad Bank IFSC is made in a pattern that the starting four digits correspond to the Allahabad Bank, the fifth digit is zero by default and the remaining digits correspond to the branch.
Examples of Allahabad Bank IFSC
|ALLA0211539||Mata Mandir, Bhopal|
Why is the need of Allahabad Bank IFSC Code?
IFSC was developed by the RBI for exchanging money between banks in an error-free manner. IFSC recognizes the branches taking part in fund transfer and hence the funds reach the right destination.
IFSC carries out fund transfer in a secure and hassle-free manner hence it has become an integral part of the fund transfer system in India.
Be it an online or offline transfer it is mandatory to enter correct IFSC in order to channelize the funds to the right bank.
How to transfer money using the Allahabad Bank IFSC Code?
With the help of IFSC, it has become possible to transfer money in a safe and convenient way. With the coming of IFSC, Online banking has become a safe platform for fund transfer. Let us get in detail with the various fund transfer system that utilizes IFSC for their working.
- NEFT is an electronic money transfer system started by the RBI
- Settlement takes place in batches in case of NEFT
- Unlike RTGS fund transfer in NEFT does not take place in real-time rather it works on Deferred Net Settlement (DNS) basis
- NEFT can be carried out via both online and offline modes
- RTGS is a real-time electronic money transfer system started by the RBI
- Fund transfer takes place on a gross basis without netting
- RTGS is not available all throughout the year but there is a specific time of operation usually 7 am to 6 pm on working days
- RTGS can be carried out by visiting the bank branch as well as by online modes
- IMPS is instant fund transfer system maintained by the National Payments Corporation of India (NPCI)
- IMPS is functional the entire year including the bank holidays
- IMPS carry out fund transfer in real-time through various modes like Phones, ATMs, SMS, Internet Banking, etc.
How to find the Allahabad Bank IFSC Code & MICR Code?
Here are some of the ways to find Allahabad Bank IFSC and MICR Code
Paisabazaar IFSC Tool Locator: It is an IFSC code finder tool introduced by the Paisabazaar that helps its customers to get the IFSC and MICR of any bank. Simply get to the Paisabazaar IFSC Tool Locator and select the required bank branch from the drop-down menu and get the IFSC as well as the MICR Code.
Alternatively, one can refer to the website of the RBI and find out the IFSC and MICR codes.
Where to find Allahabad Bank IFSC Code?
A passbook is a document assigned by the bank that summarizes all the transactional activities of an account holder. On the front page of a passbook, IFSC of the account holder’s bank branch is mentioned.
A cheque book is a booklet containing cheques issued to the customers by their banks. One can check the IFSC on the top of a cheque leaf.
Internet Banking/ Mobile Banking
One is required to login to Allahabad Bank Netbanking Portal or Allahabad Bank Mobile Banking to get the required IFSC.
What is the Allahabad Bank MICR Code?
Allahabad Bank Magnetic Ink Character Recognition Code (MICR) is a 9-figure code present at the bottom of a cheque on the MICR band which aids in quicker processing of cheques.
This MICR Code on a cheque is written with magnetic ink so any sort of fraud or error can be determined when checked by a magnetic scanner.
Examples of MICR Codes with Branches
795010002 - Imphal, Manipur
600010007 - Adyar, Chennai
MICR Code Format
MICR Code is divided into 3 sections
- The first section corresponds to the City
- The middle three digits correspond to the Bank
- The last section denotes the Branch
Where to find Allahabad Bank MICR Code?
A passbook is a document assigned by the bank that summarizes all the transactional activities of an account holder. On the front page of a passbook, the MICR Code of the account holder’s bank branch is mentioned.
A cheque book is a booklet issued to the customers by their respective banks. One can check the MICR Code on the bottom of a cheque leaf.
Internet Banking/ Mobile Banking
One is required to login to Allahabad Bank Netbanking Portal or Allahabad Bank Mobile Banking to get the required MICR Code.
What is the Allahabad Bank Swift Code?
SWIFT Code is a code that recognizes various bank branches internationally.
Just like an IFSC SWIFT Code also acts as a standardized method of identifying bank branches and exchanging funds between them.
SWIFT Code contains mix of letters and alphabets and usually has 8 to 11 digits.
How to find the Allahabad Bank Swift Code?
Simply get in touch with the Allahabad Customer Care Department to know the required SWIFT Code.
Difference between Allahabad Bank IFSC, MICR & SWIFT Code
Here is a quick difference between the three codes
Allahabad Bank IFSC
- The full form of IFSC is Indian Financial System Code
- Formed by the combination of 11 alphanumeric characters IFSC is used to channelize money to the right destination
- It was started to monitor fund transfer across the country by the RBI
Allahabad Bank MICR Code
- The full form of MICR is Magnetic Ink Character Recognition
- MICR Code consists of 9 digits that play an important role in simplifying the cheque clearing process
- RBI introduced MICR Code and is assigned to all the banks for the identification process
Allahabad Bank SWIFT Code
- A SWIFT Code is a unique code that aids in exchanging funds between the banks at the international level
- The code consists of 8 to 11 characters and is a part of Bank Identifier Code (BIC)
Frequently Asked Questions (FAQs)
How can the IFSC Code be used to locate the Allahabad Bank Branch?
Allahabad Bank Branch can be known from the IFSC Code. IFSC is a unique fund transfer code that is structured in a way that the first four digits correspond to the bank, the fifth digit remains zero. The last six digits correspond to the bank branch.
How to use account number to search for Allahabad Bank IFSC Code?
There is no possible way to search Allahabad Bank IFSC by account number.
Does Allahabad Bank Credit Card has IFSC Code?
No Allahabad Bank Credit Card does not have IFSC Code.
What is Allahabad Bank BSR Code?
A BSR Code is a code that helps banks to keep a clear record of payment made towards the income tax. This code is composed of 7 digits wherein the first three digits are indicative of the bank and the remaining digits correspond to the branch.
What is the CIF Number of Allahabad Bank?
CIF Number or the customer Information Number is a unique number assigned to each account holder by their respective bank.
A bank can use this number to retrieve all the account related information of an account holder to prevent any kind of fraud.
How to get the Branch code of the Allahabad Bank?
One can consider the last six digits of an IFSC if looking for the Allahabad Bank Branch Code.