Citibank Indian Financial System Code(IFSC) is an 11-character alphanumeric code used to identify bank branches for various monetary transactions including IMPS, NEFT and RTGS.
Citi Bank IFSC Code Format
|Bank code||Zero||Branch code|
IFSC Code is composed of 11 characters, the first 4 characters of IFSC Code represent the bank. The next character is zero (0) that is uniform across all IFSC codes and the remaining 6 characters are the code of the branch.
- IFSC code of Citibank branch at Sector 8c Chandigarh is CITI0000013
- The first four (CITI) are alphabetic characters that represent the bank
- The zero (0) is uniform across IFSC codes
- The last 6 digits (000013) represent the bank branch at Sector 8c, Chandigarh
How does the IFSC code of Citibank works?
Fund transfers are done only with a valid IFSC code as it helps to identify the source and destination bank in the event of a transaction. Customers need to provide all the mandatory information of the beneficiary in order to carry out fund transfer. The following information about the beneficiary is mandatory -
- Beneficiary Name
- Beneficiary Address
- Beneficiary Account Number
- Beneficiary Account Type (only in case of NEFT)
- IFSC Code of the Beneficiary's Bank Branch
How to search for Citi Bank IFSC Code & MICR Code?
There are multiple ways by which a customer can search for Citibank IFSC Code & MICR Code:
Paisabazaar IFSC Code Locator Tool
Customers can search for Citibank IFSC Code by visiting IFSC Code Locator Tool offered by Paisabazaar. Just provide the right information in the tool and get the IFSC code.
Alternatively, IFSC and MICR codes for any Citibank branch can be found on the bank cheque. As seen from the image given below, Citibank IFSC code is placed at the top of the cheque whereas Cheque number and MICR code are placed at the bottom of the cheque.
MICR code: Every bank is given a unique 9-digit Magnetic Ink Character Recognition Code (MICR), which helps the RBI to identify the bank branch and speed up the cheque clearing process.
Reserve Bank of India
The official website of the RBI includes the list of all the banks and branches that take part in electronic fund transfer along with their IFSC code. Hence, a customer can visit the RBI website for the same.
Citibank Netbanking / Mobile Banking
Customers can get the Citibank IFSC Code via various digital banking platforms also. This includes Citi Bank mobile banking app and net banking portal.
What are the different modes of fund transfer using Citi Bank IFSC Code?
One can transfer funds online by various modes:
The acronym "NEFT" stands for National Electronic Funds Transfer. It is based on Deferred Net Settlement (DNS) and facilitates the transfer of funds from any bank branch to any other bank branch.
Sender has to provide the beneficiary’s name, IFSC code of the beneficiary bank branch, account type, and account number in order to carry out fund transfer via NEFT.
The acronym "RTGS" stands for Real Time Gross Settlement. The RTGS system facilitates the transfer of funds from accounts in one bank to another on a "Real-time" basis. The RTGS system is the fastest possible interbank money transfer facility available through secure banking channels in India.
In order to carry out fund transaction, the sender needs to provide details including the name of the payee, account number, IFSC code of the beneficiary’s bank branch, and the amount.
Immediate Payment Services (IMPS) is a real-time instant inter-bank funds transfer system. In order to send money the sender needs to provide the beneficiary’s account no, account type, IFSC Code and beneficiary’s name.
Citibank has been operating in India for over a century. Established in the year 1902, Citibank in Calcutta (now Kolkata) is now a significant foreign investor in the Indian financial market. It provides various financial and banking services to its customers such as deposit accounts, debit cards, credit cards, loans, investments, etc.