Canara Bank IFSC is an 11-digit code that helps in the identification of bank-branches participating in the fund transfer systems in India. With IFSC, online banking has become a secure platform for fund transfer. IFSC helps the RBI to track the beginning and end of a transaction.
Canara Bank IFSC Structure
IFSC is assigned in a way that each bank branch of Canara Bank is given a unique IFSC. There is one thing that is common in all IFSC that is the fifth digit ‘zero’. The initial four characters stand for the bank and the last six for the branch.
|Canara Bank||ZERO||Canara Bank Branch|
Canara Bank IFSC Code of Dwarka (New Delhi) branch is CNRB0002881 whereby ‘CNRB’ stands for the ‘Name of the Bank’ and ‘002881’ stands for the ‘Branch Code’ of Dwarka Branch.
Why do we require the Canara Bank IFSC Code?
- IFSC is chosen to be the standard for carrying out transactions across the country. It permits the remitter to carry out fund transfer with accuracy and ease as it directs the money to the chosen Canara Bank Branch.
- Be it the traditional mode or online mode of money transfer, IFSC has made fund transfers a seamless and secure process.
- Further, the IFSC also helps to prevent any security breach as all the operations via IFSC are regulated by the RBI.
How to transfer money using Canara Bank IFSC Code?
IFSC facilitates fund transfer by recognizing the sender’s and receiver’s bank branch. One can choose any of the following modes of fund transfer according to their utility.
|NEFT abbreviates for National Electronic Fund Transfer||NEFT abbreviates for Real-Time Gross Settlement||NEFT abbreviates for Immediate Payment system|
|It is a type of fund transfer system that works on Deferred Net Settlement Basis||It is a payment system under which the processing of fund takes place on real-time||IMPS is most simplified money transfer system in India|
|From December 2020, NEFT has been operating 24*7 even on bank holidays||RTGS has a specific operational window set by a particular bank||IMPS is a customer-driven platform and can be used 24*7 according to the need and requirement of the customer|
How to find the Canara Bank IFSC Code & MICR Code?
- The most significant part of a fund transfer process is to know the IFSC of both the sender’s as well as the receiver’s bank branch. IFSC directs the money to the chosen branch only if the IFSC of the receiver’s bank branch is correct. There are few modes that one can prefer in order to get the IFSC Code & MICR Code of any Canara Bank branch.
- Paisabazaar offers a unique tool for searching the IFSC and MICR Codes of all the registered banks in India. One just needs to search for the Paisabazaar IFSC Code tool and select the options from the drop-down menu and get the intended IFSC or the MICR Code.
- Customers can also refer to the official website of the RBI.
Where to find Canara Bank IFSC Code?
Other than the Paisabazaar IFSC tool and the RBI, one can also refer to the below-mentioned platforms of IFSC search.
- Canara Bank Cheque Leaf: If we look at the cheque leaf of Canara Bank, it can be seen that the IFSC is written on the topmost part of the leaf. This is the IFSC of the branch where the account holder has opened the account.
- Canara Bank Passbook: When a customer opens a saving account, the banks provide the customer with a passbook. The passbook contains certain banking details including the IFSC and MICR Code mentioned at the front page.
- Canara Bank Digital Banking: Canara Mobile Banking has made banking highly convenient and easy. One can login into any banking app of the Canara and search for the IFSC code. Alternatively, one can opt for the Canara Bank Netbanking facility of the Canara Bank.
What is the Canara Bank MICR Code?
- MICR Code is a 9-digit serial unique character issued by the RBI to all the banks participating in the Electronic Clearing System.
- MICR or Magnetic Ink Character Recognition is actually a technology that is used for printing these codes on the cheque leaf
- The magnetic ink bar on the bottom of a cheque leaf represents the same
- MICR Code recognizes a bank branch during the fund transfer process and acts as a security bar code to protect transactions
Where to find Canara Bank MICR Code?
Some of the platforms to find the MICR Code of Canara Bank are as follows
- Canara Bank Cheque Leaf: If we look at the cheque leaf of Canara Bank, it can be seen that the MICR Code is written on the bottom part of the leaf.
- Canara Bank Passbook: When a customer opens a saving account, the banks provide the customer with a passbook. The passbook contains certain banking details including the IFSC and MICR Code.
- Digital Banking Platform: Mobile banking has made banking highly convenient and easy. One can login into any banking app of the Canara and search for the MICR code. Alternatively one can opt for the netbanking facility of the Canara Bank
What is the Canara Bank Swift Code?
SWIFT Code is actually a messaging network used by various financial institutions to transmit funds via a standardized set of codes. This code is used to transmit funds at the international level. SWIFT Code abbreviates for Society for World-Wide Interbank Financial Telecommunication and is formed by the coalition of 8 to 11 alphanumeric characters.
How to find the Canara Bank Swift Code?
One can connect with the Canara Bank Customer Care Department and request for the intended SWIFT Code.
Difference between Canara Bank MICR Code, SWIFT Code, and IFSC code
|Canara Bank MICR Code||Canara Bank SWIFT Code||Canara Bank IFSC|
|MICR Code is a 9-digit serial unique character issued by the RBI used for faster processing of cheques. MICR is par with IFSC and both code aids in the fund transfer process. The magnetic ink bar on the bottom of a cheque leaf represents the same.||SWIFT Code abbreviates for Society for World-Wide Interbank Financial Telecommunication and is formed by the coalition of 8 to 11 alphanumeric characters. This code acts as a standard for transferring funds between financial institutions across the globe.||IFSC abbreviates for Indian Financial System Code. It is a set of digits developed by the RBI to systematically transfer funds between the banks. The code is distributed to all the banks in India by the RBI and is different for each bank branch.|
How to locate the nearest Canara Bank Branch from IFSC Code?
The initial four characters in Canara Bank IFSC stand for the bank and the last six for the branch. The fifth character remains zero for all the bank branches.
|Canara Bank||ZERO||Canara Bank Branch|
In the example above, the Canara Bank IFSC Code of Dwarka (New Delhi) branch is CNRB0002881 whereby ‘CNRB’ stands for the ‘Name of the Bank’ and ‘002881’ stands for the ‘Branch Code’ of Dwarka Branch.
How to search Canara Bank IFSC Code by account number?
Account-holders cannot look for the Canara Bank IFSC Code by account number rather than they can use the Online IFSC search Tool by Paisabazaar or can refer to the chequebook issued by the Canara Bank
Does Canara Bank Credit Card have IFSC Code?
No, Canara Bank Credit Card does not have IFSC Code.
What is the Canara Bank CIF Number?
CIF Number abbreviates for Customer Information Number. It is a unique number that represents a virtual file of an account holder. The virtual file consists of information of a customer in digital form. A bank has the power to decode the information of a customer via this CIF Number when required.
What is the Canara Bank BSR Code?
BSR Code is a unique 7 digit number wherein the initial three digits represent the bank and the last four digits denote the bank branch. BSR Code is used in Challan Identification Number (CIN). This CIN is used for recognizing the Challan in the Online Tax Accounting System (OLATS).
How to find the Canara Bank Branch Code?
The endmost 6 digits of an IFSC are indicative of the bank branch. Hence one can consider the last 6 numbers of an IFSC to find the Canara Bank Branch.